Jerry Falwell Jr., a prominent figure in evangelical circles and former leader of Liberty University.
With a net worth estimated at a staggering $100 million, Falwell’s financial standing has drawn significant attention alongside his influential role in both religious and political spheres.
Let’s delve into the details of his wealth, exploring its sources and implications within the broader context of his career and controversies.
Jerry Falwell Jr.’s Net Worth
Jerry Falwell Jr., an American lawyer, real estate developer, and former university administrator, boasts a net worth of $100 million.
He is the son of ultra-conservative Christian pastor Jerry Falwell, assuming the presidency of Liberty University following his father’s passing in 2007.
On August 7, 2020, Falwell Jr. announced an indefinite leave from his roles as president and chancellor of the university, triggered by a controversial Instagram photo depicting him with lowered pants.
He permanently resigned on August 24, 2020, amid a sexual scandal.
Revelations emerged of his alleged involvement in a multi-year affair, which included his wife and a Miami hotel pool boy.
Reports suggested the couple’s “grooming” of the young man from the age of 20, culminating in a seven-year affair that involved sexual encounters during family vacations and at their Virginia farm.
Born in Lynchburg, Virginia, in June 1962, Falwell Jr. graduated from Liberty University and obtained his JD from the University of Virginia.
A Republican married with three children, he practiced law privately until 2007, concurrently serving on Liberty University’s Board of Trustees from 2000.
Falwell Jr. endorsed Donald Trump in the lead-up to the 2016 Presidential election, comparing him to Winston Churchill.
Despite claims of being offered the position of the United States Secretary of Education by Trump, Falwell Jr. declined.
He was slated to participate in a task force on reforms for the United States Department of Education, although this initiative never materialized.
Jerry Falwell Jr.’s Salary
Before resigning, Jerry Falwell Jr. received an annual salary of $1.25 million from Liberty University.
According to a clause in his contract, upon stepping down, he likely received around $10 million as a buyout.
His contract stipulated that he would earn his salary for two years plus an additional $8 million if he ever left his position.
Under the leadership of the Falwell family, Liberty University transformed from a relatively unknown Baptist school into a powerhouse with over 95,000 undergraduate students.
However, some critics have characterized the university as essentially functioning as a real estate hedge fund.
In 2007, when Jerry assumed control, the school listed $260 million in assets. Today, it controls over $3 billion in assets.
Critics have raised concerns that university-funded construction projects and real estate acquisitions primarily served to enrich the Falwell family and their associates.
A 2019 Politico article highlighted the blurred line between the Falwell family’s wealth and Liberty’s finances.
The article cited instances where the university provided financial loans or investments to Falwell family members or friends, which may not have been in the school’s best financial interests.
For example, Liberty reportedly gave a loan of $750,000 to Jerry’s friend, Robert Moon, to start a construction company called Construction Management Associates Inc.
Later, the university awarded this company $130 million in contracts.
Falwell asserted that he did not personally benefit from the company’s dealings with the university
Resignation
On August 7, 2020, Jerry made an announcement declaring an indefinite leave of absence from Liberty University.
He provided no reason for the decision, but the timing coincided with a controversial Instagram post.
In the photo, Jerry was pictured with his arm around a much younger woman, with both their pants unzipped.
Ironically, this violated the school’s code of conduct.
Just over two weeks later, on August 24, 2020, Jerry resigned from Liberty University following a Reuters report.
The report detailed a years-long sexual relationship between his wife and a pool boy from a Miami hotel.
Allegedly, Falwell “enjoyed watching from the corner of the room” multiple times a year.
The pool boy, Giancarlo Granda, also happened to be a business partner of the Falwells.
At one point, Jerry offered him a share in a Miami youth hostel, which they funded for their son, Jerry Falwell III, known as “Trey”.
The Falwells’ share of the investment was reportedly $4.7 million.
Ranch
Jerry Falwell Jr. and his family live on a 500-acre ranch/farm in Goode, Virginia, approximately 20 miles from Liberty University’s campus in Lynchburg.
The expansive property includes amenities such as a pool, tennis court, horse stables, and a large private lake.
Additionally, there is a 19th-century chapel on the premises, which legend suggests was frequented by historical figures Robert E. Lee and Ulysses S. Grant during their lifetimes.
Personal life
Jerry Falwell Jr. is married to Becki Tilley and resides on a farm in Bedford County, Virginia.
The couple has three children, including businessman Jerry “Trey” Falwell III.
Until his dismissal by the university in 2021, Jerry Falwell Jr. held the position of president of university operations at Liberty University.
Additionally, Falwell Jr. owns the Alton Hostel, also known as the Miami Hostel, located in Miami’s South Beach.