Antivirus software creator John McAfee's net worth had plummeted to a relatively modest $4 million when he died in a Spanish prison in June last year, according to Celebrity Net Worth, which tracks the wealth and finances of the rich and famous.
McAfee, who founded global security software company McAfee in 1987, hanged himself in his prison cell after the Spanish high court authorised his extradition to the US on tax evasion charges, his lawyer, Javier Villalba, told Reuters.
More than a year after his death, McAfee is back in the spotlight after streaming platform Neflix released a true crime documentary this week about his fugitive life.
Running With the Devil: The Wild World of John McAfee features interviews with the technology entrepreneur and tracks his life on the run after he fled Belize in 2012 following the shooting death of his neighbour Gregory Faull.
How did McAfee lose his fortune?
At the height of his wealth, the UK-born technology pioneer was worth more than $100m after he resigned as chief executive of McAfee in 1994 and sold his stock holdings in the business.
But a combination of bad investments, the global financial crisis in 2008-09 and increasing legal troubles, during which he went on the run from US authorities for years, caused his net worth to plummet.
“A series of bad investments, including a large bet on Lehman Brothers' bonds, cost McAfee millions and forced him to sell real estate and other assets for pennies on the dollar,” Celebrity Net Worth said.
Lehman Brothers went bankrupt in the 2008 global financial crisis.
“McAfee sold a $25m Colorado estate for just $5.7m. He also sold a mansion in Hawaii, a ranch in New Mexico and a Cessna private jet,” it added.
Were any of McAfee's assets seized?
A week before his death, McAfee, who worked for Nasa, Xerox and Lockheed Martin before launching his antivirus software company, tweeted from prison that he had nothing left as the US authorities had seized his assets.
“The US believes I have hidden crypto. I wish I did but it has dissolved through the many hands of Team McAfee (your belief is not required), and my remaining assets are all seized. My friends evaporated through fear of association,” McAfee said on Twitter on June 16 last year.
“I have nothing. Yet I regret nothing,” he added.
When was McAfee arrested?
McAfee's years on the run came to an end when he was arrested at Barcelona airport on October 3, 2020, as he was about to board a flight to Istanbul, Turkey, after being charged with tax evasion in Tennessee and cryptocurrency fraud in New York, Reuters reported.
"An indictment was unsealed today charging John David McAfee with tax evasion and wilful failure to file tax returns" Richard E. Zuckerman, the principal deputy assistant attorney general for the US Justice Department's tax division, said in a statement on October 5, 2020.
“John McAfee earned millions in income from promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary,” he added.
“From 2014 to 2018, McAfee allegedly failed to file tax returns, despite receiving considerable income from these sources.”
McAfee allegedly evaded his tax liability by directing his income to be paid into bank accounts and cryptocurrency exchange accounts in the names of nominees, while he concealed assets, including property, a vehicle and a yacht in the names of others, prosecutors said.
Despite admitting he'd avoided paying taxes because they were "illegal", McAfee remained defiant, saying in his final tweet on June 18 last year: "In a democracy, power is given not taken. But it is still power. Love, compassion, caring have no use for it. But it is fuel for greed, hostility, jealousy... All power corrupts. Take care which powers you allow a democracy to wield."
McAfee, whose father also died by suicide when he was 15, is survived by his wife, Janice McAfee.
If you go
The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
SCORES IN BRIEF
Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).
Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
TOUR DE FRANCE INFO
Dates: July 1-23
Distance: 3,540km
Stages: 21
Number of teams: 22
Number of riders: 198
MATCH INFO
Liverpool v Manchester City, Sunday, 8.30pm UAE
Top 10 most polluted cities
- Bhiwadi, India
- Ghaziabad, India
- Hotan, China
- Delhi, India
- Jaunpur, India
- Faisalabad, Pakistan
- Noida, India
- Bahawalpur, Pakistan
- Peshawar, Pakistan
- Bagpat, India
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
Take Me Apart
Kelela
(Warp)
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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