HOUSTON — A federal judge on Friday ordered the liquidation of conspiracy theorist Alex Jones ′ personal assets and was still deciding on his company’s separate bankruptcy case. The decision could determine the future of his Infowars media platform, as Jones owes $1.5 billion for his false claims that the Sandy Hook Elementary School shooting was a hoax.
Many of Jones’ personal assets will be sold off, but he is expected to keep his primary home in the Austin area and some other belongings that are exempt from bankruptcy liquidation. He already has moved to sell his Texas ranch worth about $2.8 million, a gun collection and other assets to help pay debts.He has been telling his web viewers and radio listeners that Infowars' parent company, Free Speech Systems, is on the verge of being shut down because of the bankruptcy.
Jones has about $9 million in personal assets, while his company has about $4 million in cash on hand, according to the most recent financial filings in court. Jones and Free Speech Systems initially filed for bankruptcy reorganization protection that would have allowed him to run Infowars while paying the families with revenues from his show. But the two sides couldn't agree on a final plan, and Jones recently filed for permission to switch his personal bankruptcy from a reorganization to a liquidation.
If Free Speech Systems’ case is dismissed, the company could return to the same position it was in after the $1.5 billion was awarded in the lawsuits. Efforts to collect the damages would go back to the state courts in Texas and Connecticut. That could give Infowars an extended lifeline as collection efforts played out.