{"id":144395,"date":"2022-07-11T13:52:00","date_gmt":"2022-07-11T12:52:00","guid":{"rendered":"https:\/\/buzzsouthafrica.com\/us\/?p=144395"},"modified":"2023-06-04T19:48:33","modified_gmt":"2023-06-04T18:48:33","slug":"rick-singer-net-worth-and-how-he-made-his-money","status":"publish","type":"post","link":"https:\/\/buzzsouthafrica.com\/us\/rick-singer-net-worth-and-how-he-made-his-money\/","title":{"rendered":"Rick Singer Net Worth and How He Made His Money"},"content":{"rendered":"

Rick Singer’s net worth is $25 million. He is a former American college coach, recruiter, and counsellor who made his fortune by running an elaborate fraudulent scheme in which he helped wealthy parents get their wards into Ivy League institutions. <\/strong><\/p>\n

These admissions were often secured through dishonest means, such as bribery, and Singer charged anything from $5,000 to $75,000<\/a> for his services. His clientele included wealthy business executives and even Hollywood stars.\u00a0Rick Singer was able to amass a net worth of $25 million and lived a lavish lifestyle.<\/p>\n

His empire, however, came crumbling after the authorities were tipped off in 2018. He was charged with multiple felony charges in 2019. However, he has avoided jail time to date as he is still assisting the authorities in convicting other persons that were part of his fraudulent set-up.<\/p>\n

Tracing How Rick Singer’s Net Worth Accrued<\/strong><\/h2>\n

Rick Singer Began His Career as a College Sports Coach in the 80s<\/strong><\/h3>\n

Rick Singer is a native of California and was born in 1960. As a young man, he was athletically inclined. He played everything from basketball to baseball and football. He also lettered in baseball and basketball at college.<\/p>\n

Rick Singer graduated college in his 20s and kick-started his career as a basketball coach at Sierra College, Sacramento, California. His salary at the time is not available, but it is postulated that college coaches can earn anything from $12,500 to $78,500 per annum. It is most likely that Singer earned something in the mid-range, i.e., around $30k.<\/p>\n

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High school photo of Rick Singer (Image Source<\/a>)<\/figcaption><\/figure>\n

He Then Started a Side Business as a College Counsellor and Recruiter in the 90s<\/strong><\/h3>\n

Working as a college coach gave Rick Singer a first-hand experience of college admission. He, therefore, decided to start a side business of helping students gain athletic scholarships to top colleges.<\/p>\n

He was pretty good at it and thus set up a company known as Future Stars<\/a>. The company provided college counseling for prospective students, and he operated it for a while. He later sold it off and went to work as a manager for several call centers.<\/p>\n

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Singer (far right) playing college football (Image Source<\/a>)<\/figcaption><\/figure>\n

Rick Singer Set Up his College Counselling Company Known as College Source LLC in 2002<\/strong><\/h3>\n

After working as a call center manager for a while, Rick Singer decided to return to his forte, college counseling services. He set up another company known as College Source LLC in 2002 and continued helping students with their college application processes.<\/p>\n

Rick Singer ran College Source LLC for five years and sold it in 2007. He has claimed that he sold the company for $100 million, but this is doubtful. There is, however, no disputing the fact that he made good money from that company that probably ran into millions of dollars.<\/p>\n

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Rick Singer (Image Source<\/a>)<\/figcaption><\/figure>\n

He Then Established another College Counsel<\/strong>ling Services Company, The Key, in 2007<\/strong><\/h3>\n

Upon selling off College Source LLC in 2007, Rick Singer used the proceeds to set up another college counseling company known as Edge College and Career Network, a.k.a The Key. The company also focuses on helping parents and students scale the hurdle of the admission of processes and get into their dream colleges.<\/p>\n

Rick Singer employed several people to work for him in his new company, and they achieved tangible results. As a result, his fame spread far and wide. He attracted well-known clients, including Hollywood stars and wealthy business executives. He helped numerous students get into colleges, including Georgetown University, Stanford, Yale, and the University of California at Los Angeles.<\/p>\n

In the early days of his company, Rick Singer charged from $500 to $4500 for college counseling services. However, as his fame grew, his fees increased to tens of thousands of dollars. A court filing showed that he earned $366,000 per annum in 2011.<\/p>\n

\"Rudy
Rudolph Meredith, a Yale Coach that collaborated with Rick Singer (Image Source<\/a>)<\/figcaption><\/figure>\n

Rick Singer Penned Two Self-Help Books on How to Scale the College Admission Process<\/strong><\/h3>\n

Rick Singer utilized his experience as a college counselor to pen two self-help books on the topic. The first was Getting In: Gaining Admission into Your College of Choice <\/em>(2014). The second was Getting in Personal Brands: A Personal Brand is Essential to Gaining Admission into the College of Your Choice <\/em>(2014).<\/em> Both books were motivational in nature, and he co-wrote them with a ghostwriter.<\/p>\n

It is unknown how much Rick Singer made from his books, but it also contributed to his wealth. He was able to amass a net worth running into $25 million and lived accordingly. He and his wife bought several houses, including a $700,000 house in Sacramento and a $600,000 villa in Hawaii. When they divorced, he set up an $80,000 college fund for his son.<\/p>\n

He equally purchased a 5-bed room house worth $1.55 million in New Port Beach.\u00a0Rick Singer joined hands with his half-brother, Cliff, to make several lucrative investments. They invested in a Los Angeles restaurant chain and started their venture. They also bought a stake in a Welsh soccer club known as Swansea.<\/p>\n

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One of Rick Singer’s books (Image Source<\/a>)<\/figcaption><\/figure>\n

Rick Singer’s Activities Led to the Varsity Blues Scandal of 2019<\/strong><\/h3>\n

It must be pointed out that when Rick Singer first began his college counseling companies, it was all legit. He worked hard to get his athletes into shape so that they would qualify for athletic scholarships on merit. Things, however, turned murky down the line.<\/p>\n

By 2008, he had given a series of bribes to a Georgetown tennis coach named Gordon Ernst to help children with little or no tennis history to gain a place on the school’s team and get admission.\u00a0From that moment on, Rick Singer fine-tuned a fraudulent but lucrative scheme. He deliberately courted hedge fund managers, wealth advisers, and people that worked on the board of expensive private schools.<\/p>\n

Through them, he got in touch with wealthy parents that wanted their wards to go to choice schools. These parents paid him thousands of dollars in return for him helping their children get admitted to top colleges. Rick Singer resorted to outrightly fraudulent means to make the admissions a reality.\u00a0He lied about the athletic achievements of these kids in high school and photo-shopped<\/a> fake photos to that effect.<\/p>\n

He also lied on some of their college application essays. In one instance, a white student from a rich family who had never played tennis was held out as an African-American athlete. Rick Singer also went to the lengths of hiring people to take SAT tests for his client’s children.\u00a0He also bribed proctors to change the test answers of his client’s children so that they would get higher scores.<\/p>\n

It was an efficient system, and Rick Singer landed well-known clientele such as Hollywood star actresses Lori Laughlin and Felicity Huffman. Huffman paid him $15,000 to procure a person that would write her daughter’s SAT. Lori Laughlin paid him $500,000 to get two of her daughters admitted into the University of Southern California.<\/p>\n

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Here is the Sacramento man at the center of the largest college entrance exam scandal ever. Rick Singer operated out of Sacramento offices. 50 defendants, including coaches, celebrities, and other parents being charged today. \u201cIt appears the schools were not involved.\u201d #ABC7now<\/a> pic.twitter.com\/xxyOOxlq0V<\/a><\/p>\n

— Dan Noyes (@dannoyes) March 12, 2019<\/a><\/p><\/blockquote>\n