Arnold Schwarzenegger & 5 Men Whose Finances Were Impacted by a Sex Scandal
The recent revelation of Arnold Schwarzenegger's infidelity and the love child that came as a result of it is just another in a long list of powerful, wealthy men who were caught—almost literally—with their pants down. While, many pundits have spent this past week pontificating on the reasons for the affair and others like it, few have looked at the financial repercussions that a sex scandal can have. Given Schwarzenegger's vast wealth, his divorce from Maria Shriver and lost projects due to the scandal could cost the action star-turned-California governor around $300 million in settlements and revenue. BlackEnterprise.com takes a close look at five other prominent figures who were hit in the pockets when their private indiscretions went public. —Larry Gilchrist
The recent revelation of Arnold Schwarzenegger's infidelity and the love child that came as a result of it is just another in a long list of powerful, wealthy men who were caught—almost literally—with their pants down. While, many pundits have spent this past week pontificating on the reasons for the affair and others like it, few have looked at the financial repercussions that a sex scandal can have. Given Schwarzenegger's vast wealth, his divorce from Maria Shriver and lost projects due to the scandal could cost the action star-turned-California governor around $300 million in settlements and revenue. BlackEnterprise.com takes a close look at five other prominent figures who were hit in the pockets when their private indiscretions went public. —Larry Gilchristmore
TIGER WOODS More than any of the other men on this list, Woods’ epic fall from grace due to a string of infidelities was probably the most covered by the mainstream media. The bad press tarnished the golf phenom’s golden boy image and didn’t sit well with sponsors like, Gatorade, AT&T and Accenture. According to Sports Illustrated, Woods lost an estimated $22 million in endorsements in 2010. But that was a small price to pay compared to his divorce settlement with ex-wife Elin Nordegren, which is said to range anywhere from $100 million to $500 million.more
(Image: Getty)
REV. JESSE JACKSON, SR. The civil rights pioneer and political activist has had his fair share of indiscretions over the years. In 2001, Jackson admitted to an affair with Karin Stanford, a former Rainbow PUSH staffer, which produced a daughter. This past April, he was again entrenched in a scandal with another former staffer, Tommy R. Bennett, who alleges he was unjustly fired and was required to escort women to meet Jackson in hotels, among other “uncomfortable tasks,†during his during his tenure. As a result, Bennett filed a complaint for back and front pay, compensation for emotional distress and punitive damages, which totaled around $450,000.more
A bright and seemingly limitless political future once stood before Jesse Jackson Jr.