Jim Bakker Net Worth

The Rise and Fall of Jim Bakker: A Televangelist’s Net Worth, Scandals, and Legacy

What is Jim Bakker’s Net Worth?

Jim Bakker, the controversial American televangelist, minister, and television personality, currently holds a net worth of $500,000. This figure is a stark contrast to the wealth he once commanded during the height of his ministry. Bakker gained fame as the host of the Christian television program “The PTL Club” alongside his then-wife, Tammy Faye Bakker. At their peak, the Bakkers were reportedly bringing in an astounding $1 million each week from viewers’ contributions, intended to fund their ministry’s expansion, including their theme park and various missions. This influx of funds allowed them to live a life of luxury, marked by high-end cars, expensive jewelry, private planes, and opulent mansions. However, this extravagant lifestyle was later scrutinized, revealing misuse of funds.

An IRS report later showed that a significant $1.3 million of ministry funds were allocated for the Bakkers’ personal use between 1980 and 1983. This is equivalent to about $4 million in today’s dollars. Further investigation uncovered that Bakker had stolen additional millions in the late 1980s to support his lifestyle. The scandal widened when it was alleged that he had used ministry funds to pay off Jessica Hahn, a woman he allegedly raped. The PTL Club’s fundraising activities eventually drew suspicion, leading to Bakker’s indictment on numerous counts of wire fraud, mail fraud, and conspiracy. He was found guilty on all counts and sentenced to 45 years in federal prison, along with a $500,000 fine, underscoring the severe consequences of his actions.

Early Life and Career Beginnings

James Orsen Bakker was born in Muskegon, Michigan, in 1940. His parents were Raleigh and Furnia Bakker. As a young man, Bakker attended North Central University in Minneapolis, a private Christian college affiliated with the Assemblies of God. There, he met Tammy Faye LaValley, who later became his wife. The couple married in 1961 and, shortly after, embarked on their journey as nomadic evangelists.

In 1966, Jim and Tammy Faye Bakker began working at Pat Robertson’s Christian Broadcasting Network (CBN) in Portsmouth, Virginia. Their contributions were significant to the then-struggling network, where they hosted a children’s variety program called “Come On Over.” Due to the program’s success, Bakker was given the opportunity to host a new primetime talk show, “The 700 Club.” After leaving CBN in 1972, the Bakkers partnered with Paul and Jan Crouch to co-found Trinity Broadcasting Network (TBN) in California. However, a falling-out between Bakker and Crouch led to their separation after only eight months.

The PTL Club: Building an Empire

Following their departure from TBN, the Bakkers relocated to Charlotte, North Carolina, and launched their own Christian talk show, “The PTL Club,” in 1976. This show was broadcast on Bakker’s PTL Satellite Network, which also aired other religious programs nationwide. Over the years, Bakker built a PTL headquarters known as Heritage Village. Furthermore, he and Tammy Faye expanded their ministry, constructing the Heritage USA theme park in Fort Mill, South Carolina, a venture that achieved considerable success during that time.

PTL Criminal Investigations and Charges

In 1979, the Bakkers and PTL faced scrutiny when they came under investigation by the Federal Communications Commission (FCC) due to concerns regarding the misuse of funds raised on air. By 1982, investigations revealed that approximately $350,000 raised by Bakker was supposed to fund overseas missions but was instead diverted to support his theme park. Both the FCC and the Internal Revenue Service (IRS) discovered that PTL funds were being used for the Bakkers’ personal expenses.

To capitalize on the situation, Bakker portrayed himself as a victim of persecution, leveraging the controversy to solicit more funds for his cause. The scandals intensified in 1987 when it was revealed that Bakker and former “PTL Club” co-host John Wesley Fletcher had drugged and raped church secretary Jessica Hahn. Subsequently, they paid her nearly $300,000 in PTL funds to ensure her silence. As a result, Bakker resigned from the ministry and designated Rev. Jerry Falwell as his successor.

Getty Images

Following a 16-month federal grand jury probe, Bakker was indicted on eight counts of mail fraud, one count of conspiracy, and fifteen counts of wire fraud. He was sentenced to 45 years in prison and fined $500,000. However, the United States Court of Appeals for the Fourth Circuit upheld the convictions but voided the lengthy sentence and fine, ordering a new hearing in 1991. Consequently, Bakker’s sentence was reduced to eight years. However, he was granted parole in 1994, after serving just shy of five years, while still owing $6 million to the IRS. The PTL scandal remains one of the most significant in televangelism history, exposing the vulnerabilities of faith-based financial practices.

Return to Televangelism and Modern Controversies

Jim Bakker made his return to televangelism in 2003, launching “The Jim Bakker Show” from Branson, Missouri. On this show, he distanced himself from the prosperity theology he once preached, shifting toward embracing apocalypticism and a survivalist philosophy. In addition to his television program, Bakker founded Morningside Church in Blue Eye, Missouri, and re-established the PTL ministry. This marked a significant shift in his public persona and theological stance.

Bakker’s return to public life has been marked by controversy, especially due to his promotion of conspiracy theories and unusual religious beliefs. These include:

• Claims that Hurricane Harvey was divine judgment.
• Asserting that Barack Obama was responsible for Hurricane Matthew.
• Contending that he had predicted the 9/11 attacks.
• Selling colloidal silver supplements during the COVID-19 pandemic, falsely promoting them as a cure for the virus.

Career as Author: Publications and Works

Beyond his television work, Jim Bakker has authored several books. His first book, “Move That Mountain,” was published in 1976. This was followed by “Eight Keys to Success” in 1980. After his release from prison, Bakker penned “I Was Wrong” and “Prosperity and the Coming Apocalypse.” Later titles include “The Refuge: The Joy of Christian Community in a Torn-Apart World,” and “Time Has Come: How to Prepare Now for Epic Events Ahead.” These books reflect his evolving viewpoints and experiences.

Personal Life: Relationships and Family

Jim Bakker and Tammy Faye had two children, Tammy Sue and Jamie Charles. Their marriage ended in divorce in 1992, after Bakker’s sentencing. In 1998, Bakker married Lori Beth Graham, a former televangelist, just 50 days after they met. In 2002, they adopted five children. His personal life has been marked by significant relationships and a dedication to family, even amidst the turmoil of his public and professional life. These personal relationships have been a constant throughout his career.

Conclusion

Jim Bakker’s life story is a complex tapestry of success, scandal, and redemption. From the heights of “The PTL Club” to the depths of a prison sentence, Bakker’s journey offers a cautionary tale about the dangers of unchecked ambition and the importance of ethical conduct, particularly within the realm of religious institutions. His impact on televangelism and American culture remains undeniable, prompting continuous reflection on faith, power, and accountability. His legacy continues to spark discussions about the interplay of faith, finance, and personal integrity.