BREAKING NEWS
OK LogoPHOTOS

Jury Awards Hulk Hogan Mega Millions In Gawker Sex Tape Lawsuit! How Much Will He Actually Get?

Hulk hogan lawsuit sex tape gawker
Source: Splash

Mar. 19 2016, Updated 1:15 p.m. ET

Link to FacebookShare to XShare to Email
Hulk hogan lawsuit sex tape gawker
Source: Splash

Hulk Hogan was awarded a whopping $115 million in damages from a Florida jury on March 18 but it's doubtful he'll take home the entire amount!

Article continues below advertisement

Hulk Hogan during his trial against vs. Gawker.com trial in a St. Petersburg, Florida courthouse.

Hulk Hogan during his trial against vs. Gawker.com trial in a St. Petersburg, Florida courthouse.
Source: Splash

The six-person jury took only five short hours to deliberate. Hogan won $55 million for economic injuries and $60 million for emotional distress. The pop culture news site, Gawker, will try to appeal the case in Florida but under law will have to hand over the monetary amount in damages.

Hulk Hogan takes the stand on day two of his sex tape court case, Florida.

Hulk Hogan takes the stand on day two of his sex tape court case, Florida.
Source: Splash

Troy Slaten, an attorney who did not work on the case or with Hogan, told E! News, "Let's say he gets $115 million dollars and that stood. The attorneys get 40 percent off the top and then he also has to pay out the cost of the litigation, which means not the attorneys' hourly fees, but all the cost of the investigators, experts, witnesses."

Article continues below advertisement

Hulk Hogan takes the stand on day two of his sex tape court case, Florida.

MORE ON:
Hulk Hogan
Hulk Hogan takes the stand on day two of his sex tape court case, Florida.
Source: Splash

Let's not forget about taxes either. "The IRS treats personal injury awards like this differently depending on the character of the claim. If you are being compensated for a physical injury like broken bones, you can't eat, nausea, physical injuries—those are not taxable. If it's for lost wages then, yes, it's taxable as if that money was wages," explained Troy.

Article continues below advertisement

Hulk Hogan takes the stand on day two of his sex tape court case, Florida.

Hulk Hogan takes the stand on day two of his sex tape court case, Florida.
Source: Splash

The legal dispute started when Gawker posted two-minute video in 2012 of Hogan having sex with Heather Cole, his best friend’s wife, in 2007. Hogan, AKA Terry Bollea, claimed he did not know he was being taped and demanded the tape be taken down on the website but Gawker reused at first.

Article continues below advertisement

EXCLUSIVE: Hulk Hogan leaves court after giving evidence in his sex tape court case against Gawker website, St.Petersburg, Florida.

EXCLUSIVE: Hulk Hogan leaves court after giving evidence in his sex tape court case against Gawker website, St.Petersburg, Florida.
Source: Splash

So, with all those fees and taxes to consider Hogan will probably walk away with about $30-40 million.

Advertisement

Want OK! each day? Sign up here!

Opt-out of personalized ads

© Copyright 2024 OK!. A DIVISION OF EMPIRE MEDIA GROUP HOLDINGS LLC. OK! is a registered trademark. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy. People may receive compensation for some links to products and services. Offers may be subject to change without notice.