Michael Wainstein rose to prominence thanks to his wife appearing on The Real Housewives of New York City in 2016. This reality show on Bravo TV made him pretty famous by proxy although it was his wife on the screen. He is an affluent investor and head of Private Capital Group LTD. As of early 2020, Michael Wainstein’s net worth was estimated to be around $1.6 million and growing. Check out also the how rich are other RHONY stars like Jules Wainstein, Leah McSweeney, and Elyse Slaine.
Michael was born in United States into a Jewish family. His exact age and date of birth are not publicly known. He graduated with Bachelor of Arts degree in Economics from New York University and received his law degree at New York Law School. He also passed bar exams for state of New York.
In 2001, Wainstein founded Private Capital Group (PCG) which he leads leads still. This private equity firm focuses on emerging growth companies in wide variety of areas from media to energy. On the top of this, Michael also founded Hampton BioFuels, Inc., an alternative fule business in NY.
As an affluent investor and entrepreneur, Wainstein has been increasing his holdings in the last few years. He also has his pick of beautiful women and he chose attractive Jules. Which brings us to his family.
Michael and Jules got married in 2008. They have two young kids together called Rio and Jagger. Him and his wife both have a Jewish ancestry. But having a similar background didn’t guarantee lasting marriage for them. In 2016, they filed for divorce.
For some reason, the divorce is not finalized yet in 2020. There might be too many financial implications or it might be simply the argumentative nature of his wife that are making the final settlement complicated. But they do share a custody of their kids and Michael pays sizable child support.
In early 2020, his wife was arrested for battery. Michael was dropping off their kids at her house while she allegedly attacked him and caused him bruises and scratches in face. Before the altercation, she was holding a baseball bat, so things could have end up even more serious. That sounds like they have a very complicated relationship even after they separated.
Michael Wainstein net worth changes over the years
- 2017: $1.2 million
- 2018: $1.1 million
- 2019: $1.4 million
- 2020: $1.6 million
Sources of income, salary
Michael made a fortune as an entrepreneur and investor. His wife’s income from RHONY or otherwise doesn’t play a part in his wealth. His major asset is his stake in Private Capital Group. This investment firm holds has only about 10 employees but you don’t need a big stuff to make big money in this line of business.