• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • 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.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
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

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
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
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • 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
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Energy

Current price of oil as of April 1, 2026
Personal FinanceOil
Current price of oil as of April 1, 2026
By Joseph HostetlerApril 1, 2026
5 hours ago
Photo: Donald and Melania Trump.
PoliticsMarkets
Trump has no good options in Iran—here are 5 of them ahead of his speech to the nation tonight
By Jim EdwardsApril 1, 2026
7 hours ago
The Iran war is accelerating plans for Southeast Asia to go nuclear. Experts say it won’t be easy
EnergyAlternative energy
The Iran war is accelerating plans for Southeast Asia to go nuclear. Experts say it won’t be easy
By Angelica AngApril 1, 2026
9 hours ago
MUSCAT, OMAN - MARCH 22: The Albina Bulk carrier sits anchored on March 22, 2026 at Sultan Qaboos Port in Muscat, Oman.President Donald Trump had threatened to attack Iran's energy infrastructure if it did not end its de facto blockade of the Strait of Hormuz by just before midnight GMT of March 23. A subsequent statement from President Trump said the U.S. and Iran had held "very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East," and that he would postpone any attacks on Iranian energy infrastructure for five days. Maritime traffic through the strait, which conveys about 20% of the world's oil and gas, has mostly come to a halt after the joint U.S.-Israeli war with Iran that began on February 28.
EnergyIran
Trump has a labyrinth of bad options in the Strait of Hormuz. Here’s why some warn that walking away could transcend ‘our defeat in Vietnam’
By Jordan BlumMarch 31, 2026
19 hours ago
Bernard Looney, CEO of Prometheus Hyperscale
EnergyBP
Former BP CEO takes over Wyoming data center developer, as first woman leader of Big Oil giant becomes new BP chief
By Jordan BlumMarch 31, 2026
19 hours ago
hegseth
EnergyWhite House
‘Go get your own oil’: Trump’s message to allies who haven’t backed war in Iran
By Jon Gambrell, Mike Corder, Darlene Superville and The Associated PressMarch 31, 2026
20 hours ago

Most Popular

Jerome Powell says the $39 trillion national debt is ‘not unsustainable,’ but warns the trajectory ‘will not end well’
Economy
Jerome Powell says the $39 trillion national debt is ‘not unsustainable,’ but warns the trajectory ‘will not end well’
By Fortune EditorsMarch 30, 2026
2 days ago
Markets cheer as Trump threatens to abandon Iran war, but Jamie Dimon sides with allies: ‘Win this thing and clean up the straits’
Energy
Markets cheer as Trump threatens to abandon Iran war, but Jamie Dimon sides with allies: ‘Win this thing and clean up the straits’
By Fortune EditorsMarch 31, 2026
1 day ago
A man used AI to call 3,000 Irish bartenders to track the cost of Guinness. Now pubs are lowering their prices to compete
AI
A man used AI to call 3,000 Irish bartenders to track the cost of Guinness. Now pubs are lowering their prices to compete
By Fortune EditorsMarch 30, 2026
2 days ago
Kevin O'Leary says if you earn $68,000 a year and follow this rule, you'll retire a millionaire
Personal Finance
Kevin O'Leary says if you earn $68,000 a year and follow this rule, you'll retire a millionaire
By Fortune EditorsMarch 31, 2026
1 day ago
Two-thirds of parents say their adult Gen Z kids still rely on them financially  for support—even though it's putting them under strain
Success
Two-thirds of parents say their adult Gen Z kids still rely on them financially  for support—even though it's putting them under strain
By Fortune EditorsMarch 31, 2026
1 day ago
Hiring just hit a level not seen since the economy was ‘closed down literally’ during COVID, top economist says
Economy
Hiring just hit a level not seen since the economy was ‘closed down literally’ during COVID, top economist says
By Fortune EditorsMarch 31, 2026
22 hours ago

© 2026 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.