@LuFins-Dad said in Manchin wlll not seek reelection:
He was never going to seek re-election against Justice. Manchin is the 2nd favorite West Virginia politician, but Justice is #1, and it’s not close.
https://www.forbes.com/sites/christopherhelman/2025/01/10/this-former-billionaire-and-new-us-senator-is-now-broke/
In mid-January, when West Virginia Governor Jim Justice II was sworn into the United States Senate, the former billionaire became one of the nation’s poorest senators.
How can that be?After all, for nearly a decade until 2021, Forbes figured Justice to be worth as much as $1.9 billion, the richest man in the Mountain State, thanks to a lifetime amassing a fortune in coal and real estate with gems like the historic 710-room Greenbrier resort in West Virginia’s Allegheny Mountains, with a golf course that has hosted annual LIV and PGA Tour tournaments.
But a closer look at Justice’s finances reveals that his empire is severely troubled. The Greenbrier is suffering from years of neglect and may now be worth less than half the $1 billion value Justice long claimed. His coal companies, led by Bluestone Resources, still mine about 500,000 tons per year, but that’s down from 2 million tons a decade ago. They likely generate $150 million in revenue and have an enterprise value under $200 million.
Those are substantial assets, but Justice’s liabilities are much greater. According to Forbes estimates, he is in hock to the tune of more than $1 billion in the form of personally guaranteed bank loans, debt, court judgments and environmental liabilities. By Forbes’ reckoning, the new Republican senator has a net worth of less than zero.Justice's attorneys and spokespeople have not responded to Forbes' repeated requests for comment.
Justice’s attorneys and spokespeople did not respond to Forbes’ requests for comment.