What was Jimmy Buffett's net worth? Widow sues estate co-trustee, slams him for 'withholding' financial information

Jimmy Buffett, who, according to Forbes, was reported to have a net worth of $1 billion at the time of his death in 2023, is now the subject of new legal issues surrounding his million-dollar trust. According to People Magazine, the latest development comes after his wife, Jane Buffett, filed a lawsuit against the co-trustee of her late husband's estate, alleging that he is "withholding" financial information.

Jimmy Buffett and his wife Jane Buffett were married for forty-six years, having previously met in the early 1970s at the Chart Room Bar in Florida. They later tied the knot in 1977 and shared three children, according to People Magazine.

More about the legal issue, as Jimmy Buffett's widow files lawsuit against co-trustee of her husband's estate

Jimmy Buffett, who passed away in 2023 at 76, was previously diagnosed with Merkel cell carcinoma in 2019. Before his death, Jimmy Buffett had appointed his accountant, Richard Mozenter, as the co-trustee of his $275 million trust. Now, in the latest suit filed by Jane Buffett, she alleges that Richard Mozenter has refused to divulge important information about finances, and she further points out his failure to "act responsibly and perform his duties." In the document obtained by People Magazine, she said:

"Mr. Mozenter has failed to perform even the most basic tasks required of him in his role as co-trustee, including providing Mrs. Buffett with information concerning Trust assets and finances, which has left Mrs. Buffett in the dark with regard to the state of her own finances."

It further added:

"Along the way, Mr. Mozenter has belittled, disrespected, and condescended to Mrs. Buffett in response to her reasonable requests for information she undoubtedly was entitled to receive."

Jimmy Buffett, who rose to fame with his 1997 hit single, Margaritaville, had wanted his funds to go to the Marital Estate, to be overseen by Jane Buffett and another co-trustee. The document further adds that Richard Mozenter refused to help Jane Buffett understand her financial situation. It reads:

"Rather than help his recently widowed client understand her finances, Mr. Mozenter spent the next 16 months stonewalling and making excuses for why he could not yet provide the requested information."

A source close to Jimmy Buffett and his family allegedly said in a statement to People Magazine that this trouble surrounding the trust is something the late singer would never have wanted for his wife. They said:

"Jimmy would never have wanted Jane to be treated like this. [I] know how close Jimmy and Jane were all these years, and how Jimmy relied upon and trusted Jane around so many of his important decisions in his life and career."

Previously, in another lawsuit filed in February, Jimmy Buffett's widow claimed that Richard Mozenter failed to show her the proper earnings of the late singer, adding that the amount shown to her was far less than what one would expect from a $275 million trust. He said:

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"[Mozenter] showed the Marital Trust earning less than $2 million in net income, a remarkably poor return for a Trust with an estimated $275 million in assets. If the Marital Trust truly earns such a low return consistent with the financials Mr. Mozenter presented, it will confirm that Mr. Mozenter is either not competent to administer the Trust or unwilling to act in Mrs. Buffett’s best interests."

According to People Magazine, Jimmy Buffett's wife had previously requested that Richard Mozenter resign as the co-trustee, but her requests were not heeded. The court hearing for the case is slated for 14 August.

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