What Is Michael Lohan's Net Worth?
Michael Lohan is an American television personality and former commodities trader who has a net worth of $50 thousand. Michael Lohan is most famous for being the father of actress Lindsay Lohan. Michael got his start on Wall Street on the commodity trading floor when he was just 20 years old, and in 1990, he was investigated for insider trading and served jail time for not revealing the names of traders involved in the trading scheme. Since his release from prison in 1993, Lohan has been arrested for violating probation, attempted assault, DUI, domestic abuse, and other crimes. Michael has been involved with the sobriety program Teen Challenge as a counselor and actor, and he has been a cast member on the VH1 reality television shows "Celebrity Rehab with Dr. Drew" (2011) and "Family Therapy with Dr. Jenn" (2016). Lohan has appeared in the films "The Deed To Hell" (2008) and "Horrorween" (2011) and the TV movie "Wanna Be Me!" (2008).
Early Life
Michael Lohan was born Michael John Lohan on April 25, 1960, in Syosset, New York. He is the son of Marilyn Desiderio and Richard Lohan, and he has three younger siblings. Richard passed away in 2008, and Marilyn died in 2021. Lohan's ancestry is Italian and Irish. In a 2007 interview with "The New York Observer," Michael said of his youth, "We worked at the age of 15. We got our due when we worked. I was raised in a Catholic household, they were very good people." Lohan also said that he grew up with an alcoholic father and that his maternal grandfather "owned the largest spaghetti company in the world at one time."
Career
When Michael was 20 years old, he began working as a Wall Street trader. He told "The New York Observer," "I was the youngest trader on the floor of the commodity exchange. And by the time I was 25 I had four seats on the exchange." In 2008, Lohan appeared in the horror film "The Deed to Hell" and the TV movie "Wanna Be Me!," followed by the 2011 horror-comedy film "Horrorween," which starred William Shatner as himself. In 2021, Michael became the co-host of a weekly KPRC 950 AM radio show in Houston, Texas, that focuses on addiction recovery.
Personal Life
Michael married Donata Melina Nicolette Sullivan (better known as Dina Lohan) on November 2, 1985. They subsequently welcomed four children together, Lindsay (born July 2, 1986), Michael (born December 16, 1987), Aliana (born December 22, 1993), and Dakota (born June 16, 1996).
Michael and Dina divorced in August 2007, and Dina got custody of Aliana ("Ali") and Dakota ("Cody"). In 2008, Lohan took a paternity test after massage therapist Kristi Horn claimed that he fathered a child with her while he was separated from Dina in 1995. The results of the paternity test were revealed to be positive on "The Trisha Goddard Show," on which Michael met his 17-year-old daughter Ashley for the first time.
Lohan became engaged to Kate Major, a former tabloid reporter, in the spring of 2010, and they married on October 30, 2014. Michael and Kate have two children together, Landon (born January 30, 2013) and Logan (born December 31, 2014). According to TMZ, Michael and Kate lost custody of the children in November 2015 after the Florida Dept. of Children and Families "obtained a video showing Michael and Kate in a blowout fight in front of 2-year-old Landon and 10-month-old Logan." Kate filed for divorce the following month.
In 2011, Lohan appeared on "Celebrity Rehab with Dr. Drew." On the show Michael said his alcoholism began in the early '80s. He also revealed that he started using cocaine when he worked on Wall Street but hadn't used it in six years at that point.
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Legal Troubles
Michael was investigated for insider trading in 1990, and he was convicted of criminal contempt of court and sentenced to three years in a Nassau County jail. He was released in 1993 and given five years' probation. In 1997, Lohan was arrested after he flew to Napa, California, to visit Lindsay after an asthma attack on the set of "The Parent Trap" landed her in the hospital. Michael served a year in prison for violating his probation. After Lindsay's career took off, tensions arose within the family, and during Dakota's 2004 communion party, Michael got into a fistfight with Dina's brother Matt. This resulted in Lohan being charged with attempted assault, and while he was awaiting sentencing, he got into a car accident while driving under the influence. After the accident, Michael was charged with DUI as well as aggravated unlicensed operation of a motor vehicle. During his time in prison, Lohan began singing and writing songs, and he got involved with the faith-based sobriety program Teen Challenge. Michael has also been arrested for leaving a Long Island hotel without paying his $3,800 bill and for punching a Manhattan sanitation worker whose truck was blocking his car.
After serving 2 1/2 years at the Collins Correctional Facility, Lohan was released in March 2007. He then began living at the Teen Challenge center located in West Babylon, New York, where he trained to become a minister. He also worked as a counselor and actor with the Teen Challenge rehabilitation program in Long Island. In October 2011, Michael was arrested for suspicion of domestic violence in Tampa involving Kate Major. He was released on $5,000 bail and was ordered to avoid contact with Major. Lohan was arrested again shortly after for contacting Kate by phone; when police arrived at the hotel where he was staying, he jumped off a third-floor balcony to try to escape arrest. In April 2021, Michael was arrested in Palm Beach County on charges of illegal patient brokering. According to "The Palm Beach Post," "Police arrested Lohan in April 2021 after investigators in Boca Raton alleged that he received more than $27,000 in kickbacks that either were paid to him or his business venture – Lola Recovery Ventures LLC – between January and June of 2018. In exchange, Lohan then referred patients to a Delray Beach residential treatment facility, according to court documents." In June 2022, he was sentenced to four years' probation and ordered to pay $52,500 in fines.
