Profile
American TV personality
#151 in Television today
Mike The Situation, has a net worth of $1 million as of 2024. Through starring in Jersey Shore, he earned a $150,000 salary per episode at the peak of his career. Due to losses from gambling, stock market Investments, Mike has lost all of his wealth.
Financial Losses
At the peak of his television career, Mike The Situation had a net worth of over $10 million, but he ended up losing half of his wealth due to bad investments, gambling, and poker.
Mike spends $500,000 on cocaine and oxycodone annually, further hurting his earnings. Mike also has reportedly lost over $3 million to gambling and poker.
House & Mortgage
Mike “The Situation” Sorrentino currently lives in a luxurious $1.8 million mansion in Holmdel, New Jersey. He purchased the property in December 2019, shortly after his release from prison. The 9,800-square-foot home is due on mortgage payments and he will soon be evicted by the bank.
Mike The Situation Net Worth 2024 (Forbes)
| Name | Michael Paul Sorrentino |
| Net Worth | $1 Million |
| Annual Income | $200,000 |
| Salary per Episode | $150,000 |
| Bank Balance | $900,000 |
| Luxury Cars | 6 (SIX) |
| Debts & Loans | $2.1 Million |
Losses in Stock Markets
Mike “The Situation” Sorrentino faced significant financial losses between 2009 and 2015, totaling $1.5 million. Here’s a look at his investments and their decline during that period:
- General Electric Co. (GE) – GE’s stock fell from $35 to $15 due to company struggles and market conditions, leading to a $500,000 loss of net worth for Mike.
- Research In Motion (RIM) / BlackBerry Ltd. (BB) – BlackBerry’s stock dropped from $140 to $10 as the company lost ground in the smartphone market, resulting in a $400,000 loss.
- Kodak (KODK) – Kodak’s stock fell from $30 to $8 due to the decline in film photography, causing a $300,000 loss.
- Bank of America Corp. (BAC) – During the financial crisis and slow recovery, Bank of America’s stock dropped from $25 to $10, leading to a $200,000 loss.
- Yahoo Inc. (YHOO) – Yahoo struggled with declining market share and competition, with its stock falling from $20 to $15, resulting in a $100,000 loss for Mike the Situation.
FAQs
The richest member of Jersey Shore is DJ Pauly D, with a whopping net worth of $20 million as of 2023.
Mike the Situation earned around $150,000 per episode during the peak of Jersey Shore.
Yes, Lauren Pesce Sorrentino, Mike “The Situation” Sorrentino’s wife, is considered wealthy. Her net worth is estimated to be around $4 million.