Home Scandal and Gossip Florida Playboy Thomas Kramer reckons he’s broke. Spent $90 million.

Florida Playboy Thomas Kramer reckons he’s broke. Spent $90 million.

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Florida Playboy Thomas Kramer
Florida Playboy Thomas Kramer. Too broke to be true?

In an interesting feature via abc comes the too hard to believe story of Florida Playboy Thomas Kramer who reckons he’s gone though his $90 million fortune and is only down to $300K. Never mind he keeps spending money like no tomorrow and likes to take back to back lavish holidays.

According to the former real estate investor, shit went belly up and that is how he lost a lot of his money (never mind that real estate in Florida is generally going through the roof) which means he just can’t get round to paying off his debtors and the taxman. But somehow there’s cash to burn for those back to back lavish holidays and expensive trinkets.

Explains the UK’s dailymail: An aging Miami-based playboy, known for his yachts, cars, wine and women, claims he has ‘burned’ through his $90 million fortune and now has just $300,000 to his name, which he is spending at a rate of $50,000 a month.

Thomas Kramer, a high-flying German former real estate investor with a penchant for lavish parties and near-constant vacations, has opened up about how he went from minted to skint in a deposition related to a $108 million, still unpaid, judgement from 2007.

Still unpaid? Well naturally, that’s because according to the 56 year old Thomas Kramer he has no job and no income and thus technically he’s poor. Well not quite. He does have $300K somewhere which he likes to blow on rainy days at a pace of $50K a month. Which is a great job if you can get it. Except as Thomas Kramer would like to remind us, he has no job. Well except that is as a Florida playboy.

Florida Playboy Thomas Kramer

Now that he’s relatively broke compared to his flashier years, Thomas Kramer has been forced to make some very tough choices in the hope of reigning in his lifestyle. Selling boats, art works as well as gasp, instructing his butler, maid and maintenance man to come only a few days a week.

But this is the part I like the best: In the deposition, Kramer, who admits to owning two South Beach homes valued at up to $55 million, claims that after selling his Range Rover to a friend who still lets him drive it, his only other transportation is a bicycle his brother bought for him at Costco for ‘149 bucks.’

Nevermind $149 is more than Thomas likes to spend on the occasional diner party and fete where his glam hanger ons like to drop by.

From there we find out about Thomas’ magnificent back to back lavish holidays across the world which had him attending various wedding, including Elton John’s White Tie and Tiara Summer Ball in England.

Florida Playboy Thomas Kramer

Despite his business woes and loss of fortune, Thomas Kramer has his father’s inheritance to hang on tight to. After his father’s death in 2012, Thomas inherited a mere $3.3 million.

Already having spent $2 million last year and down to a frugal $300K, Thomas simply picks up the phone and calls ‘Norman’ a banker we are told who simply wires Thomas Kramer more play money. Lots of it.

Asked in the deposition where all the loot from the proceeds of the sales of his boats, cars and paintings went Thomas responds as follows:

‘Into the burning account,’ 

 ‘Burning like whoosh it goes, and the money is gone.’

Thomas Kramer never denies he made money in his profile as a high-profile developer of Florida real estate. Two recent profiles of him (one in the Miami Herald, the other in Miami New Times) describe him as one of the developers most responsible for turning South Beach from a run-down neighborhood into the A-list destination it has become. But as you can imagine ‘stuff’ got mangled here and there and now he’s naturally broke.

Apart from earning some money from renting out the backyard of one of his Star Island homes for photo shoots and charity events, Thomas insists he has very little income to speak of.

He tells he has $3.8 million in unpaid bills, including $1.8 million in real estate taxes.

‘What am I supposed to do with (the remaining money)?’ He asks. ‘Throw [it] up in the air, [so] who catches it is paid, and I shoot myself? No thank you.’

No, not at all Thomas. That would be too much to ask ‘Norman’ to help out with?

Florida Playboy Thomas Kramer

Nevertheless Thomas Kramer reckons he will ‘declare bankruptcy, probably’ when the $300,000 runs out. Probably after next week’s lavish dinner party. Or maybe the year after. Or the year after that?

Reminded that bankruptcy doesn’t provide an income, Thomas Kramer retorts he’ll simply live ‘off my friends and family.’

‘I’m everywhere invited,’ he says.

Don’t you wish you were a ‘broke’ Florida playboy too? I know I do…

Told an unverified commentator on the web that had me wondering:

I believe the background is that his ex-wife’s step father was a wealthy German tycoon who was trying to hide his money from taxes. So he entrusted it offshore to Kramer. The German government discovered the evasion and the German tycoon confessed all and paid the taxes. Then he asked his ex-stepson-in-law for the money back. Kramer didn’t return the money (I’m not sure of the story, I think it was first that the money wasn’t owed back at all, then that it was tied up in South Beach real estate and finally that it was lost). Naturally the $108MM judgement followed. So this is someone who amply versed in hiding money offshore, from both sides of the table.

 

 

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7 COMMENTS

  1. the money was a gift from the step father in law , who was genuinely fond of Kramer (and not of his own children, who have evinced their own greediness after inheriting over 5 billion from their father and now going after Kramer for what was basically a wedding gift to him and his then new wife) TK agreed to pay the step father and his wife monthly installments of 200,000 for the rest of their lives (a nice way to access the money and sidestep the tax man I assume, also to build a future for his beloved daughter with TK) but does not take away from the fact that it was a GIFT, not a loan, as the greedy children of step father attest) ..when the German tax authorities came after the step father, Kramer helped him out by signing a new agreement which basically ended up having him to pay the heirs later 40 million, this was not enough for them, and so given the immense wealth of the heirs, it can clearly be seen and stated that this is really just a grudge match of the ugliest proportions. If I were them I would accept past is past , enjoy the lives they have, try to do good for others, and let Kramer go back to his life and happiness. No amount of money is worth so many years of stress and angst.

  2. No dear, if you read correctly you grant the licence to FACEBOOK to use it for advertising not for YOU to use it for free. . Read: https://www.facebook.com/communitystandards

    Copyright Infringement

    If you post a photo you didn’t shoot, you could be violating someone’s copyright. The Facebook Terms of Service state, “You will not post content or take any action on Facebook that infringes or violates someone else’s rights or
    otherwise violates the law. We can remove any content or information you
    post on Facebook if we believe that it violates this Statement or our
    policies. If you repeatedly infringe other people’s intellectual
    property rights, we will disable your account when appropriate.”
    Chances are, a copyright holder won’t sue over one photo uploaded to your
    account but they have a right to defend their license, up to and
    including taking you to court and asking for monetary damages.

    You didn’t pay for my work and I didn’t give you permission to use my images.

  3. Anything on Facebook is considered fair use.

    Facebook

    Under Facebook’s current terms (which can change at anytime), by posting your pictures and videos, you grant Facebook “a non-exclusive, transferable, sub-licensable, royalty-free, worldwide license to use any [IP] content that you post on or in connection with Facebook (“IP License”). This IP License ends when you delete your IP content or your account unless your content has been shared with others, and they have not deleted it. Beware of the words “transferable, sub-licensable, royalty-free, worldwide license.” This means that Facebook can license your content to others for freewithout obtaining any other approval from you!

    http://www.nyccounsel.com/business-blogs-websites/who-owns-photos-and-videos-posted-on-facebook-or-twitter/

  4. oh oh copyright infringement!! You do not have the right to use the Facebook photos for this article!! Expensive article..

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