|Full Name||Mark Madoff|
|Birthday||March 11, 1964|
|Date of Death||Dec. 11, 2010|
|Age upon death||46-years-old|
|School Graduated||University of Michigan|
|Net Worth||Estimated to be around $1M to $10M|
Mark Madoff is the son of Bernie Madoff, infamous for being a billion-dollar swindler. Mark had a tragic end to his life after hanging himself using a dog leash inside his Soho apartment in 2010.
If you want to know more about him, as well as his family background and father, then read on. His personal life, net worth, death, and family’s fate are all discussed in deep detail.
Early Life and Education
Mark was born to Bernard Madoff, who was known as Bernie, and Ruth Madoff on March 11, 1964. He has a younger brother named Andrew who was born in 1966 and unfortunately died in 2014. Bernie was formerly a financier, stockbroker, and investment adviser.
However, he is currently jailed in the Butner federal prison in Durham, North Carolina as he was convicted for being a fraudster. There are some reports that he died in the facility in 2017, but there are also other sources stating that he is still alive.
Furthermore, his father Bernie is sentenced to 150 years in prison. All these started way back in the 60s when Bernie started a penny stock brokerage which eventually became Bernard L. Madoff Investment Securities.
The company was a huge success as it had more than 4,800 clients. His sons, Mark Madoff and Andrew Madoff also worked as stockbrokers in the company. However, there seems to be no record about Mark’s childhood as his family decided to keep their private life to themselves.
What’s sure though is that Mark had graduated from the University of Michigan. He then worked as a licensed stockbroker after finishing college. His first job was in his dad’s company in 1987.
Wife and Personal Life
Mark Madoff has a wife named Stephanie Madoff whom he married in 2004. They stayed together until his death. Thanks to their love, they managed to bear two children. However, they are guardian to four kids, as the two belonged to Mark’s previous relationship with Susan Elkin.
He had Audrey and Daniel Madoff from his early relationship. Meanwhile, he had two children from Stephanie. They are Kate Madoff and Nicholas Madoff who were only four and two years old respectively when he died.
Unfortunately, his previous wife and wife still need to deal with the $255 million lawsuits that were charged to his father and his family.
Susan Elkin also got another lawsuit worth $2.4 million, while Stephanie Madoff was sued with another $27.5 million.
Mark Madoff’s Net Worth
Though there is no exact report of Mark Maddof’s net worth, it can be estimated that it is similar to his father’s illegal business which was worth more than $60 billion. However, this figure drastically decreased after his father’s arrest.
As of now, there is no conclusive data as to the exact amount. However, many speculate it to be around $1 million to $10 million. Furthermore, all of this was due to the effects of his father’s swindling career.
In fact, his father became infamous around the world due to this multi-billion dollar Ponzi scheme. Up to this date, many consider him to be a mastermind in deceiving the financial world, despite all its heightened security.
It was one of the biggest atrocities to mankind, at least in the financial sense, as it left thousands of famous and rich clients bankrupt after losing their life savings and various investments to Bernie’s scheme.
His Father, Bernie’s Illegal Trade
Even until now, many of his victimized investors are looking for ways to take vengeance on the family by tarnishing their reputation and getting their lost money worth billions of dollars.
Bernie managed to do this for decades as all his business dealings were done through phone, instead of personal conversations and meet up. His father, Bernie, even became the chairman of Nasdaq from 1990 to 1991, and then again by 1993.
Financial investigator and interpreter, Harry Markopolos, noticed that there was something else going on with Bernie a few years prior to his arrest. He even went to great lengths to reveal it to authorities. Unfortunately, he was left unheard, until his arrest in 2010.
Career and Death of Mark Madoff
Mark Madoff’s death is one of the most tragic in history. He hanged himself in the living room of his Manhattan apartment. Coincidentally, it seemed like he did it just in time with the second anniversary of the arrest of his father, Bernie.
His death surprised the world as it showed how disappointed he was with his father. According to his lawyer, Mark was a victim of his father’s crime as he went through a lot of pressure from all the false accusations he got from his father’s other victims.
Paul J. Browne, a deputy police commissioner, stated that the body of Mark Madoff was found to hang in his living room apartment at Mercer Street. Further reports state that he used a dog leash that was colored black and attached it to a metal hanger.
Reports also confirmed that this wasn’t caused by foul play. His two-year-old son was just even sleeping in the living room’s adjoined bedroom. It was also reported that Mark sent emails to his wife saying that he loves her and that she should take care of their child.
Martin London, a famous lawyer in New York who also happens to be Mark’s father-in-law, was the one who saw his body after he received a message to check the child. There were also reports which state that Mark Madoff had a rough time accepting his fate.
His mental and emotional health also declined considerably as his father’s arrest anniversary neared. Mark’s close friends even say that he had been bitter to his father since he knew about the multi-billion dollar frauds he made.
Mark’s Brother, Andrew Madoff’s Death
Meanwhile, his brother Andrew died four years after him. Andrew Madoff was the one who reported his father’s schemes to authorities. He even calls it the largest Ponzi scheme the world has seen.
Andrew also considers his actions to be a father-son betrayal of great proportions due to the consequences it has to his father and his family. Unfortunately, he succumbed to cancer and died in a New York City hospital at the age of 48.
Martin Flumenbaum, Andrew’s lawyer, said that the specific cause of his death was mantle cell lymphoma. It was a long fight for him as he was diagnosed with the disease way back in 2003.
He thought he was free from cancer, but unfortunately, the disease relapsed ten years after.
Mark and Andrew Madoff spent their entire career working for their father, Bernie, at Bernard L. Madoff Investment Securities. They even managed to make it to top executive ranks, but still, deny that they were involved by any means from their father’s illegal and fraudulent scheme.