Erik and Lyle Menendez’s father, Jose Menendez, had built a million-dollar fortune as CEO of LIVE Entertainment.
Jose’s sons Erik and Lyle’s story will be featured in Netflix’s latest Monsters installment, “Monsters: The Lyle and Erik Menendez Story.”
Highlights
- Monsters: The Lyle and Erik Menendez Story showcases the real-life story of Jose Menendez’s son Erik and Lyle Menendez.
- Jose had an estimated net worth of $8 million, primarily earned as CEO of LIVE Entertainment.
- He owned the Beverly Hills Mansion and a home in Calabasas.
It follows the famous case of real-life brothers Lyle and Erik Menendez, who were convicted in 1996 for the assassination of their father, Jose, and mother, Mary Mouise “Kitty” Menendez.
The trailer was released earlier this month, focusing on a portrait of the “perfect” family as cracks began to show and hinted at the claims made by Lyle and Erik that they were subjected to years of physical abuse.
Jose Menendez was a high-achieving disciplinarian who came to the United States as a penniless teenager and was determined to succeed. He demanded excellence from himself.
At the time of his passing, he was working for a film studio, running its home video division. Investigators suspected that the incident may have been tied to his business dealings.
Erik and Lyle Menendez’s father, Jose Menendez Had A Net Worth Of Millions
LIVE Entertainment CEO Jose Menendez, born on May 6, 1944, had an estimated net worth of around $8 million.
Jose’s wife, Mary Mouise “Kitty” Menendez, had an estimated net worth of around $6 million, primarily earned by serving as an elementary school teacher till January 10, 1968. Altogether, they left an estate valued at $14 million.
However, his sons spent an estimated $700,000 of their fortune within six months after the tragic incident.
At the age of 21, Lyle purchased a Rolex, a Porsche, lots of clothing, and a restaurant back in Princeton.
On the other hand, Erik hired a $50,000 personal tennis coach and invested $40,000 in a rock concert that never happened.
There was a life insurance policy for around $5 million in Jose Menedez’s name. However, some technicalities prevented Erik and Lyle from collecting it.
Jose’s sister, Marta Menendez Cano, a financial planner, calculated the Mendendez family’s net worth.
After multiple trials, legal fees, and taxes, the estate decreased to $800,000; debt eventually demolished that number.
The remaining assets were two homes, one on Beverly Hill and One in Calabasas.
However, Jose Menedez’s Beverly Hills mansion was sold for around $17 million 28 years ago, whereas Calabasas’s house, appraised at $2.65 million, was sold in 1994 for $1.94 million.
That property also had an $864,000 mortgage that needed to be paid, and in the year of the sale, the estate still owed taxes estimated at $600,000, along with attorney’s fees and court costs from the trials.
President of Strategic Property Analytics and Forensic Appraiser Orell Anderson estimated that the Beverly Hills mansion was sold roughly 25% below its market value.
Jose also owned 330,000 LIVE Entertainment shares, trading at around $20 per share.
Additional Information
- Jose Menendez’s father was a well-known soccer player who owned his accounting firm, whereas his mother was a swimmer who had been elected to Cuba’s Sports Hall of Fame.
- He met his wife, Mary, while attending Southern Illinois University in Carbondale.
- Lyle Menendez is in Mule Creek State Prison in Lone, California, and Erik is in the Richard J. Donovan Correctional Facility in San Diego.
