• Home
  • News
  • Fortune 500
  • Tech
  • Finance
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
EnergyCongress

Former billionaire turned governor turned senator tries to explain web of coal companies and net worth of ‘less than zero’

By
John Raby
John Raby
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
John Raby
John Raby
and
The Associated Press
The Associated Press
Down Arrow Button Icon
October 24, 2025, 11:51 AM ET
Jim Justice
U.S. Sen. Jim Justice (R-WV) poses with Babydog, his english bulldog, in the senator's office on Capitol Hill on October 15, 2025 in Washington, DC. Babydog is celebrating her sixth birthday. Anna Moneymaker/Getty Images

The trail of debts — and claims made trying to collect them — that dogged Jim Justice well before he became West Virginia’s two-term Republican governor has ballooned since the former billionaire became a U.S. senator earlier this year.

Recommended Video

Justice was elected last November to the Senate seat vacated by the retiring Joe Manchin, a Democrat who became an independent in 2024 near the end of his second full term.

Justice, who owns dozens of businesses that include coal and agricultural operations, had a fortune estimated at $1.9 billion last decade by Forbes magazine. Forbes stripped his billionaire title in 2021, when Justice’s worth had dwindled to an estimated $513 million. Earlier this year, Forbes estimated that Justice’s net worth had disintegrated to “less than zero” due to liabilities that far exceeded assets.

During a briefing with local media on Thursday, Justice gave a rambling defense of his companies, asserting that they “are complicated and complex” and that his children “are doing a magnificent job” running them. He then repeated past assertions that collection efforts against him were politically motivated, before concluding:. “At the end of the day, I’d say just let it be and see how it all plays out.”

In recent weeks, the bandwagon of creditors claiming they’re owed money by Justice or his companies has gotten crowded.

On Oct. 2, the Internal Revenue Service filed liens totaling more than $8 million against Justice and his wife, Cathy, on unpaid personal taxes that go as far back as 2009. Politico was the first to report on the liens.

Last month, state tax officials filed $1.4 million in liens against the Justice family’s historic hotel, The Greenbrier, and the resort’s Greenbrier Sporting Club, over unpaid sales taxes.

On Wednesday, a foreclosure auction on several hundred lots owned by the Justice family at a resort community near Beckley was paused. The auction, which had been scheduled for next week, centered on a dispute between the Glade Springs Village Property Owners Association and Justice Holdings over unpaid fees. The state Supreme Court plans to review the case more closely.

Justice’s companies have dealt with the IRS before, including in 2021, when liens were filed over $1.1 million in unpaid taxes on the Greenbrier Hotel and an additional $80,000 on the resort’s medical clinic. Those debts were paid off later that year.

Last year, Justice’s family settled debts in a separate case to avoid the Greenbrier Hotel’s foreclosure. The 710-room hotel, which has hosted U.S. presidents, royalty and congressional retreats, had come under threat of being auctioned off on the steps of a Lewisburg courthouse. That was after JPMorgan Chase sold a longstanding loan taken out by Justice to a credit collection company, Beltway Capital, which declared it to be in default.

The state Democratic Party has said efforts to seize the hotel from Justice were “a direct consequence of his own financial incompetence.”

Last year, a union official at the Greenbrier said that Justice’s family was at least $2.4 million behind in payments to an employees’ health insurance fund, putting workers’ coverage at risk. In 2023, dozens of properties owned by the Justice family in three counties were auctioned as payment for delinquent real estate taxes. Others have sought to recoup millions in fines for environmental issues and unsafe working conditions at his company’s coal mines.

Justice bought The Greenbrier resort out of bankruptcy in 2009 for $20.1 million. The sporting club is a private equity club and residential community on the property that opened in 2000.

The resort in White Sulphur Springs that dates to 1778 also has a casino, spa and dozens of amenities and employs around 2,000 workers. The resort held a PGA Tour golf tournament from 2010 until 2019 and has welcomed NFL teams for training camp and practices. A once-secret 112,000-square-foot (10,080-square-meter) underground bunker built for Congress at the Greenbrier in case of nuclear attack during the Cold War now hosts tours.

Justice began serving the first of his two terms as governor in 2017, switching parties seven months after taking office. Early in his administration, he was sued for not living in the governor’s mansion in Charleston as required by law, and when he was there, his list of accomplishments wasn’t particularly long or noteworthy.

Eventually, the politician with the folksy manner and a pet bulldog named Babydog by his side turned his attention to winning a Senate seat that national Democrats pretty much conceded as soon as Manchin decided not to run again.

West Virginia has one of the highest poverty rates in the United States. It also lost the highest percentage of residents among any state over the past decade, an exodus that cost it a seat in Congress, and continued through Justice’s second term, according to U.S. Census Bureau population estimates.

About the Authors
By John Raby
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Energy

data center
EnvironmentData centers
The rise of AI reasoning models comes with a big energy tradeoff
By Rachel Metz, Dina Bass and BloombergDecember 5, 2025
1 hour ago
Construction workers are getting a salary bump for working on data center projects during the AI boom.
AIU.S. economy
Construction workers are earning up to 30% more and some are nabbing six-figure salaries in the data center boom
By Nino PaoliDecember 5, 2025
6 hours ago
Four years ago, BKV started buying up the two Temple power plants in Texas—located between Austin and Dallas—which now total 1.5 gigawatts of electricity generation capacity—enough to power more than 1.1 million homes, or a major data center campus. There is room to expand.
Energypower
How a Texas gas producer plans to exploit the ‘megatrend’ of power plants for AI hyperscalers
By Jordan BlumDecember 5, 2025
15 hours ago
Zuckerberg
EnergyMeta
Meta’s Zuckerberg plans deep cuts for metaverse efforts
By Kurt Wagner and BloombergDecember 4, 2025
1 day ago
Matt Rogers
CommentaryInfrastructure
I built the first iPhone with Steve Jobs. The AI industry is at risk of repeating an early smartphone mistake
By Matt RogersDecember 4, 2025
1 day ago
Giving Tuesday
North Americaphilanthropy
In just 13 years, Giving Tuesday has grown into a $4 billion philanthropic bonanza
By Thalia Beaty and The Associated PressDecember 4, 2025
1 day ago

Most Popular

placeholder alt text
Economy
Two months into the new fiscal year and the U.S. government is already spending more than $10 billion a week servicing national debt
By Eleanor PringleDecember 4, 2025
1 day ago
placeholder alt text
Success
‘Godfather of AI’ says Bill Gates and Elon Musk are right about the future of work—but he predicts mass unemployment is on its way
By Preston ForeDecember 4, 2025
1 day ago
placeholder alt text
Success
Nearly 4 million new manufacturing jobs are coming to America as boomers retire—but it's the one trade job Gen Z doesn't want
By Emma BurleighDecember 4, 2025
1 day ago
placeholder alt text
Success
Nvidia CEO Jensen Huang admits he works 7 days a week, including holidays, in a constant 'state of anxiety' out of fear of going bankrupt
By Jessica CoacciDecember 4, 2025
1 day ago
placeholder alt text
Real Estate
‘There is no Mamdani effect’: Manhattan luxury home sales surge after mayoral election, undercutting predictions of doom and escape to Florida
By Sasha RogelbergDecember 4, 2025
1 day ago
placeholder alt text
Economy
Tariffs and the $38 trillion national debt: Kevin Hassett sees ’big reductions’ in deficit while Scott Bessent sees a ‘shrinking ice cube’
By Nick LichtenbergDecember 4, 2025
1 day ago
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.