After Netflix aired the documentary Madoff: The Monster of Wall Street, people were more curious about what happened to Bernie Madoff’s wife Ruth Madoff, and their family.
The Ponzi scheme scandal which shattered the lives of many people and investors who had trusted Madoff with their life savings has been highlighted in the Netflix series.
So Who is Ruth Madoff Wife of Bernie Madoff?
Ruth Madoff is popularly known as the wife of the late convicted financial fraudster Bernie Madoff. Before her husband’s scheme was exposed, she was the director of Bernard L. Madoff Investment Securities and also ran a number of charities and organizations under her husband’s name.
Ruth is the daughter of Saul and Sara Alpern who are now deceased. According to the Netflix documentary, Ruth’s father Saul helped Bernie Madoff in his early years of building his finance business.
Ruth Madoff was born on May 18, 1941, in New York City, New York, U.S. She is currently 81 years old.
Ruth Madoff and her Husband Bernie Madoff
Ruth and Bernie met while she was still in high school when she was 13 years old. They got married on November 28, 1959, when she was 18 years old.
She graduated from Queens College with a degree in Psychology and later joined New York University. She graduated from NYU with a Master of Science degree in nutrition in 1992.
Ruth and Bernie Madoff had two sons who are both now deceased. Both his sons Mark and Andrew worked at their father’s company in the trading section.
After Bernie’s fraud scheme became public, his family was buried in the biggest shame as everyone around the world accused them of fraud. The aftermath of the scandal made it difficult for their private and professional lives.
Mark died by suicide in 2010 two years after his father was arrested while Andrew died in 2014 from lymphoma.
Even though Ruth was never arrested or charged on any counts related to Bernie’s crimes, she lived a very vilified and difficult life afterward after her husband was arrested and charged.
Where is Ruth Madoff Now?
The day the Ponzi scheme scandal was exposed to the world, Ruth revealed in an interview that she and her husband attempted suicide by taking pills that did not work.
Ruth’s life became a living hell as she was ridiculed by the media and the public. She was accused of knowing about her husband’s Ponzi scheme and benefitted from it.
She was always followed by paparazzi whenever she was in public which made her live a low-key life. At one point she dyed her hair red to avoid being recognized in public.
Before her husband’s fraud was exposed, Ruth and Bernie were estimated to be worth $138 million. Her husband’s investment company was worth $700 million and had other assets such as luxurious houses, cars, yachts, jewelry, and cash.
After her husband was arrested, almost all of their wealth was taken and sold to try and repay the victims of their Ponzi scheme.
From 2010, Ruth lived with her sister in Boca Raton, Florida. In 2012, she lived in one of Andrew’s homes in Old Greenwich, Connecticut. After her son’s death, she moved into a one-bedroom apartment in Old Greenwich.
Since September 2020, Ruth has lived with her son’s former first wife Susan Elkin in Old Greenwich.