ALBAWABA - Palestinian businessman Mohammed Hadid, who is the father of models Bella and Gigi, recently declared his bankruptcy in court following a protracted legal struggle in front of many witnesses.
A judge ordered Mohamed Hadid to pay for the $5 million price tag of destroying his house in Los Angeles, USA, and the news of his bankruptcy followed shortly after.
Mohamed Hadid declared bankruptcy on the grounds that he could not afford to pay for the unfinished destruction of his property in Los Angeles, which had been the target of criticism from a number of his neighbors.
Neighbors started suing after building on a 30,000-square-foot site with a spaceship-inspired design got underway. His neighbors accused him of violating local construction codes, thereby endangering the nearby residences.
The four-acre Beverly Hills property and Mohamed Hadid's company's incapacity to pay the $54.6 million owed to creditors led him to decide to file for bankruptcy, according to the complaints lodged.
Bella Real Estate has been in the red since September 2023, owing to $48,893 in unpaid fees, according to the case's investigations. Another company, Skylark Capital Management, sued Hadid in 2022 for not finishing the property and not paying special real estate taxes. Hadid's incapacity to settle the debt exceeding $31 million he incurred in 2018 is the reason.
Mohamed Hadid has been in the spotlight recently due to the collapse of several businesses, most notably his real estate development firm, which was unable to pay its employees who were working on his development projects.
Models Gigi and Bella Hadid, together with their father Mohamed, have been in the spotlight recently after receiving death threats for their support of the Palestinian cause.
His career as the father of supermodels Bella and Gigi Hadid, as well as the former husband of Yolanda Hadid Foster, has been defined by remarkable achievements and occasional controversy. Mohamed Hadid has an estimated net worth of $5 million, much lower than the millions he earned due to financial and legal issues.
While the website Celebrity Net Worth lists Mohamed’s holdings at $5 million, far below that of his famous daughters Bella ($25 million) and Gigi ($29 million), a former business associate told The Post that it’s “impossible” to estimate his actual net worth.
In his own words, Muhammad Hadid has been dealing with this problem ever since the Palestinian Nakba in 1948. He continued by stating that his father was one of the numerous European refugee families who arrived in Haifa during that period, and he, along with his neighbors, witnessed the complete takeover of Safed by Jewish families in that same year.
After being abandoned and denied his mother's requests to take a blanket due to the cold weather or to obtain pictures of the family home, he described the matter as extremely painful and went on to explain that he and his mother were barred from entering a neighborhood that stood for a gathering of the Hadid family's homes.
