Gerald Migdol Net Worth – $7 million
What is Gerald Migdol’s net worth?
Introduction
Gerald Migdol is an American attorney, entrepreneur, founder, and President of the Migdol Organization.
In 2022, Migdol was indicted in a high-profile federal case in New York.
The Origin Story
He was born in the Bronx, New York, United States.
Migdol doesn’t mention a lot of information about his childhood family dynamic. The most information that has been released is that he grew up with his parents and siblings.
Ever since Migdol was a child, he always knew he would become a lawyer.
He was a very studious student who always made the honor roll.
He attended Stuyvesant high school and graduated among the top percentile in his class.
Following this milestone, he enrolled at Queens College and graduated with a B.A. in psychology in 1976.
In 1979, Migdol graduated from Benjamin Cardozo Law School.
In the early 1980s, he and his father started buying and rehabbing buildings. He also started “Migdol Realty.”
Following the “Black Monday” stock market crash of October 19, 1987, his business suffered to a great extent.
In 1990, Migdol closed his company and started to work for GFI Realty, a real estate advisory firm in New York City. He worked there until 2002.
Founded a Real Estate Housing and Management Company
Migdol is also an influential businessman. With respect to his business ventures, he is most notably recognized for being the founder and the sitting President of the Migdol Organization.
According to the company website, Migdol founded his first organization in 2003.
The multi-service Harlem-based real estate, housing, and management enterprise put emphasis on hiring locally and collaborating with many other local organizations, companies, and nonprofits.
The Migdol Organization sponsored a Hillary Clinton fundraiser.
“When I started buying in 2001, they were $200,000 and $300,000, and now it is $1 million for a shell,” Migdol explained for the New York Post.
As a chapter of his organization, Migdol also founded The Daniel Migdol Memorial Fund.
Arrested In Connection With Campaign Finance Scheme
But this is not all Migdol is known for. He was involved in a legal battle, but this time, he was on the wrong side of the law.
It came to public light that Migdol was recently involved in a money laundering scandal that most people found shocking.
The thing is, he was a lawyer representing the law all during the same time he spent years evading the law by doing things that were considered shady.
In April 2022, Migdol was arrested for his alleged involvement in a campaign finance scam involving Brian A. Benjamin’s campaign. Benjamin resigned hours after his April 12 indictment. Later, he pleaded not guilty to all charges.
Following months of investigation, law officials determined that Migdol coordinated the mismanaging of donations to be made to the campaign in the names of people who had not authorized the payments.
This not only goes beyond the corporate code of conduct but can result in long-term jail time.
During the case, prosecutors stated that Migdol made a contribution that was prearranged, totaling a $250 money order. It was written in the name of a relative who was a minor at the time.
This was one of many charges he was allegedly involved in. Several other Migdol family members, including Gerald, fraudulently contributed to Mr. Benjamin’s political campaign. Making it worse is that they did it under their own names, which were explicitly indicated in campaign finance records.
In May 2022, it was revealed that Migdol has pled guilty to organizing and concealing fake contributions for Benjamin’s failed city comptroller bid. His plea carries up to 107 years in prison.
It was also revealed that he is a cooperating witness against Brian Benjamin.
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Wife
Jerry Migdol is married to his wife, Sheri Perl, an Interfaith Minister and published author. She founded The Prayer Registry.
The two founded the non-profit organization Friends of Public School Harlem.
Their son, Daniel, passed away in 2008, due to an accidental overdose of prescription medications.
Gerald Migdol – Net Worth
Gerald earned most of his wealth from founding and managing The Migdol Organization.
“It’s wonderful to see that The Migdol Organization is taking a leadership role,” Hillary Clinton said about his organization. Clinton added: “I’m so impressed with the Migdol’s business model.”
He has retired from The Migdol Organization, after 19 years of activity. The organization is currently run by Aaron Migdol.
Therefore, Gerald Migdol has an estimated net worth of $7 million.
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