How rich was Don Lapre?
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Don Lapre Net Worth, Wiki & Biography in 2017
Donald D. Lapre was born on 19 May 1964, in Providence, Rhode Island USA. He was a multi-level marketing and infomercial salesman, best known for his late night commercial schemes and product packages such as “Making Money Secrets” and “The Greatest Vitamin in the World”. He passed away in 2011.
So just how rich was Don Lapre? Sources state that Lapre had established a net worth of over $10 million, collected largely through his fraudulent business models involving money making techniques.
Don Lapre Net Worth $10 million
Lapre’s family moved to Phoenix, Arizona, during his childhood years, where he attended Sunny Slope High School, but eventually dropped out and started a dating service in 1988. Two years later he and his wife launched a credit repair business called Unknown Concepts, assuring clients that they could easily get credit cards and other benefits. His net worth began to increase, however, his stories weren’t backed up by any contact information about companies that might provide those benefits. He was soon charged with consumer fraud, and ordered to pay civil penalties and more than $5,000 restitution to complainants.
Lapre then started to sell a 36-page booklet about recovering a Federal Housing Administration insurance refund after paying off a home mortgage, while also offering “900” phone lines. He started to claim on TV infomercials that placing small newspaper ads enabled him to earn $50,000 per week from his ‘tiny one-bedroom apartment’. He soon became famous as one of major late night infomercial personalities. His wealth grew larger.
In 1992 he began broadcasting a show called “The Making Money Show with Don Lapre”, explaining basic tips on how to easily make money. The show quickly achieved great popularity, being ranked among the ten most frequently broadcast cable television infomercials. The main product was Lapre’s “Money Making Secrets”, which was a package of booklets, tapes and tips for placing ads and running a 900-number business, which became extremely popular. It soon developed into a company called New Strategies, and Lapre’s net worth boosted with its success.
However, the business eventually proved to be another fraud.
He then faced legal troubles for not paying proper state taxes, and for not properly registering his business, forcing him to pay the State of Arizona $45,000. By the end of the decade he filed for bankruptcy, with his filing listing assets being $9 million and liabilities being $12.5 million. His business interest was then bought out by Universal Business Strategies, who continued to air the same Lapre infomercials using unethical methods to promote the business.
Meanwhile, Lapre started another venture; in 1997 he and Doug Grant, a natural vitamin peddler, launched a nutritional supplements business. They created a vitamin product called ‘The Greatest Vitamin in the World’, promoting it in Lapre’s new series of infomercials and ads as a revolutionary product that cures all kinds of disease. However, by 2006, the Food and Drug Administration warned Lapre to stop making such claims, and he was forced to close the business in the following year. Nevertheless, it brought him a sizable fortune, as he managed to scam over $50 million from at least 220,000 people between 2004 and 2007.
However, this was the beginning of Lapre’s end. Customers’ claims started to appear everywhere, followed by State charges. In 2011, he was charged with 41 counts of conspiracy, mail fraud, wire fraud, and promotional money laundering. Later that year he was arrested for failure to appear in court and jailed until his trial set for October. That month, he was found dead in his jail cell of an apparent suicide, having cut his throat with a razor blade, just two days before his trial was set to begin.
Known as ‘King of Infomercials’, Lapre took millions of dollars through his fraudulent businesses, which enabled him to earn, and lose most of a great fortune.
Speaking about his personal life, Lapre was married to Sally Redondo since 1988. They had two children together.