Costs add up for Carlos Ghosn

Business | 10 Jan 2020 10:15 am

Life on the run is proving expensive for Carlos Ghosn, the former chairman of Nissan, Bloomberg reports.

The cost of his escape from Japan included US$14 million in forfeited bail money while the operation that saw him celebrate New Year’s Eve in Beirut could have cost US$15 million or more.

That includes US$350,000 for the private jet that spirited the former auto executive from Osaka to Istanbul and millions of dollars for his multicountry extraction that would have taken a team of as many as 25 people half a year to plan, according to a private security expert who said he wasn’t involved.

Such outflows have seen Ghosn’s fortune shrink by 40 percent since he was arrested more than a year ago at Tokyo’s Haneda Airport, according to estimates by the Bloomberg Billionaires Index.

His fortune is now calculated to be about US$70 million, down from around US$120 million at the time of his first court appearance a year ago.

Ghosn’s U.S. law firm, Paul Weiss Rifkind Wharton & Garrison LLP, declined to comment on Bloomberg’s wealth estimates or on the SEC settlement. Ghosn’s Lebanese lawyer also declined to comment.

Bloomberg’s calculation of Ghosn’s net worth assumes none of his assets at the time of his arrest – which included shares in Renault and Nissan now valued at about US$60 million – have been seized or sold.

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