1 Tim Blixseth Quotes

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"Timothy Lee "Tim" Blixseth" (born 1950) is an American real estate developer, record producer, songwriter and timber baron. He was a co-founder of the Yellowstone Club in Montana. In 2006, Blixseth was featured in the Forbes 400 List of wealthiest Americans with a net worth of $1.3 billion. However, based on court records from his 2009 divorce, news reports estimated his 2011 net worth to have dropped to $200 million. By 2012 he faced a forced bankruptcy for failing to pay Montana $57 million in income taxes and in 2014 he told the courts he was "too broke" to pay pending judgments and contempt findings for his fraud role in the Yellowstone Club bankruptcy. Blixseth's wealth and assets have been the subject of controversy, and in December 2014 he was jailed for contempt for failing to pay court ordered sanctions and disclose what happened to assets the court had ordered held to pay his creditors. The bankruptcy of the Yellowstone Club in 2008 led to extensive litigation with Blixseth and his creditors, the property emerged from bankruptcy under new ownership in 2009.