Ruth Madoff

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Ruth Madoff
Born Ruth Alpern
(1941-05-18) 18 May 1941 (age 73)
Queens, New York, U.S.
Nationality American
Alma mater Queens College - (Bachelor's degree)
Years active 1960–present
Children Mark (1964–2010)
Andrew (b. 1966)

Ruth Madoff (née Alpern; born May 18, 1941) is the wife of Bernard Madoff, the convicted American financial fraudster.

Early life[edit]

Madoff was born in Queens, New York City, New York. She has a sister, Joan. Madoff graduated from Far Rockaway High School in 1958. Following her graduation from Queens College,[1][2] she worked in the stock market.

Personal life[edit]

On November 28, 1959, she married Bernard Madoff,[3] whom she had met while attending Far Rockaway High School. She worked for some time as her husband's bookkeeper.[4]

Bernard and Ruth Madoff had two sons: Mark (March 11, 1964 - December 11, 2010),[5] a 1986 graduate of the University of Michigan, and Andrew (born April 8, 1966),[6] a 1988 graduate of University of Pennsylvania's Wharton Business School.[7][8] On the morning of December 11, 2010—exactly two years after Bernard's arrest—Mark was found dead in his New York City apartment. The city medical examiner ruled the cause of death as suicide by hanging.[9][10][11]

According to a March 13, 2009, filing by Madoff, he and his wife were worth up to $126 million, plus an estimated $700 million for the value of his business interest in Bernard L. Madoff Investment Securities LLC.[12] Other major assets included securities ($45 million), cash ($17 million), half-interest in BLM Air Charter ($12 million), a 2006 Leopard yacht ($7 million), jewelry ($2.6 million), Manhattan apartment ($7 million), Montauk home ($3 million), Palm Beach home ($11 million), Cap d' Antibes, France property ($1 million), and furniture, household goods, and art ($9.9 million).

A Vanity Fair article in 2009 stated that during the time when she was a bookkeeper, Ruth made an undisclosed US$2.5 million deal and that employees in the London office stated that "Ruthie runs the all books".[4]

During a 2011 interview on CBS, Ruth stated that she and her husband had attempted suicide after his fraud was exposed, both taking "a bunch of pills" in a suicide pact on Christmas Eve 2008.[13]

Since her husband’s incarceration, most of the Madoff assets have been seized by the government, including the couple’s Upper East Side penthouse in New York. She has since moved to one of her son Andrew's houses in Connecticut after spending around two years living in Boca Raton in Florida with her sister, Joan Roman.[14]

References[edit]

  1. ^ "Ruth and Bernard Madoff Marriage Profile". About.com
  2. ^ "The Trials of Ruth Madoff". People. February 21, 2011. Retrieved April 14, 2011.
  3. ^ "Have pity on Ruth Madoff". CNN. November 14, 2009. Retrieved April 16, 2011.
  4. ^ a b Mark Seal. "Ruth’s World". Vanity Fair. 
  5. ^ "A Charmed Life, a Tragic Death". People. January 10, 2011. Retrieved April 15, 2011. "Today would have been Mark's 47th birthday! I will never forget the kind and fun loving person he was. This will always be a difficult day of the year for me."
  6. ^ "The Tale of the Madoff Sons". New York Magazine. June 3, 2009. Retrieved April 15, 2011.
  7. ^ "EXCERPT: Mark Madoff in 'The Madoff Chronicles'" MSNBC. December 12, 2010. Retrieved April 15, 2011.
  8. ^ "The Trials of Ruth Madoff". People. February 21, 2011. Retrieved April 15, 2011.
  9. ^ "Officials: Bernie Madoff's Son Mark Madoff Found Dead Of Apparent Suicide In Soho Apartment". CBS
  10. ^ Martha Graybow and Daniel Trotta (December 11, 2010). "Madoff's son found dead in apparent suicide". Financial Post. Retrieved December 11, 2010. 
  11. ^ "Madoff son's suicide follows battle with trustee"
  12. ^ McCool, Grant (March 13, 2009). "Madoff to appeal bail, net worth revealed". Reuters. Retrieved March 13, 2009. 
  13. ^ "Fraudster Bernard Madoff and wife 'attempted suicide'". October 26, 2011. Retrieved October 27, 2011. 
  14. ^ Dan Mangan and Laurel Babcock (14 March 2012). "Ruth Madoff’s Trashy New Life". New York Post.