Wayne Newton is a $50 million dollar singer, actor, and performer from the United States. Wayne Newton is well known for his musical songs like as “Danke Schoen” and “Daddy Don’t You Walk So Fast,” as well as his over 30,000 sold-out Las Vegas concerts.
In 1992, he declared bankruptcy, and in 2010, he declared bankruptcy again, but he has since recovered financially.
Early Years and Professional Career
Carson Wayne Newton was born in Norfolk, Virginia, on April 3, 1942, to auto mechanic Patrick Newton and Evelyn Marie Smith. He began playing the piano, guitar, and steel guitar at the age of six, and began his career in the entertainment industry when his father was serving in the US Navy during WWII.
Newton and his elder brother began performing in clubs, fairs, and theaters when the family moved to Newark, Ohio. Newton’s chronic asthma forced the family to relocate to Phoenix in 1952. He dropped out of North High School before the end of his junior year. The Rascals in Rhythm brothers toured with the Grand Ole Opry roadshows and appeared on television specials such as “Ozark Jubilee.”
They then performed in front of Dwight D. Eisenhower, President of the United States. When he was spotted on a local TV show, “Lew King Rangers Show,” in the spring of 1958, he was discovered by a Las Vegas booking agent. For five years, the brothers performed six shows per day.
Financial and legal issues
Newton was a co-owner of the Aladdin Hotel from 1980 to 1982, a relationship that resulted in several litigation and an unsuccessful attempt by Newton to purchase the full hotel in 1983.
Newton purchased a 213-acre property at Zephyr Cove, Nevada, in 1985. He attempted to obtain permission to develop the site into a subdivision. The subdivision proposals were rejected by the Tahoe Regional Planning Agency. They sued Newton and won, thereby putting an end to Newton’s ideas.
Newton filed for Chapter 11 bankruptcy in 1992 to restructure an estimated $20 million in debts, much of which he accumulated while battling NBC for libel, claiming the network had stated that he bought the Aladdin with the help of the Mafia. A $341,000 Internal Revenue Service tax levy was included in his bankruptcy filing. By 1999, he had recovered his financial footing.
Newton and his wife were sued by the IRS in August 2005, alleging that they owed more than $1.8 million in taxes and penalties. “We believe the IRS owes him money,” one of Newton’s tax lawyers countered.
Officials at Oakland County International Airport in Waterford, Michigan, claimed in late 2009 that Newton owed the airport more than $60,000 in unpaid parking costs after abandoning a $2 million Fokker F28 jet there more than three years previously. In 2005, the plane was flown in for refurbishment. The plane was transported to an outside parking place after they were finished in 2007.
The parking rates were $5,000 per month. To keep its airworthiness, an aircraft of this sort must run its engines at least once a month. The interior of the craft was discovered to be deteriorating and filled with mold in 2009. The plane was dismantled, relocated, and reconstructed on his home grounds since then.
Newton was accused in a 2009 lawsuit of failing to pay $32,384 for hay brought to his Las Vegas ranch, which was likely for consumption by his horses. Newton and his counsel had not filed a response in court as of February 27, 2010, when the lawsuit was still pending in Clark County District Court.
In a separate complaint from 2009, he was accused of owing GMAC $36,999 for a Cadillac lease. The lawsuit was eventually dismissed.
Bruton Smith sued Newton in February 2010, alleging that he was late on a loan that he had personally guaranteed and subsequently purchased from Bank of America. Newton’s Las Vegas ranch, Casa de Shenandoah, was foreclosed on by Smith.
Newton’s property at E. Sunset and S. Pecos roads was also denied admission to Clark County sheriff’s deputies and a fleet of moving vans in February 2010. The authorities attempted to serve civil documents and seize property as part of a $501,388 judgment against Newton that had been issued to Monty Ward, his former personal pilot, but Newton’s security team refused to accept the papers.
Ward, who sued in 2006 and got a judgment for past-due pay in January 2009, has been trying to figure out how much Newton was paid at the MGM Grand and then the Tropicana hotel-casino. The judgment’s value was apparently increasing by $126.86 per day as of January 27, 2010.
Newton was embroiled in yet another legal battle over a blocked plan to turn his 40-acre estate into a museum. A developer claimed in this lawsuit that he bought Newton’s mansion for $19.5 million with the expectation that Newton would move out and allow the property to be turned into a museum.
The developer said that he had put $50 million into the project, but that Newton had refused to vacate the premises and had purposefully sabotaged building efforts, including sexually harassing construction workers. In May 2013, the case was due to go to trial.
Judge Bruce Markell of the United States Bankruptcy Court approved the sale of Wayne Newton’s estate, Casa de Shenandoah, to Nathan and Associates, a Las Vegas brokerage firm, on December 17, 2012. The property was valued at $50.8 million in bankruptcy documents.
The property remained on the market until 2015, when Newton and Lacy Harber, the businessman who controlled 70% of the organization that had purchased Casa de Shenandoah to transform it into a museum, reached an agreement.
Newton and his family returned to the home, which was opened for public tours in September 2015 after the establishment of a museum to house mementos. The resort held its final public event on April 26, 2018, before closing indefinitely for repairs.