Tommy Mallet has just £5,000 left in the bank after once being worth £4 million.
Tommy Mallet has lost most of his fortune
The former star of 'The Only Way Is Essex' revealed that most of the fortune he made from his trainer brand Mallet London – which he set up with former business partner Evren Ozka – has gone as a result of the pair spending the past year locked in a bitter feud.
Speaking on Ben Gallaga's 'Everybody Wants To Be Us' podcast, Tommy said: "I was very cash rich at one point. I'd always have four mil in the bank.
"But now I've probably got five grand in and I'm like f****** hell, how am I going to pay for everything?"
Tommy, who has three-year-old son Brody and is preparing to welcome a second child with his wife and former 'TOWIE' co-star Georgia Kousoulou, has referenced an ongoing court case centred on Mallet London and described how he had offloaded his assets after departing the firm in 2023 - although he was unable to provide further detail on what had happened.
The 32-year-old TV star posted on social media: "It's probably not over, but as it stands I can work and support my family.
"I've sold all my assets to defend myself and starting from scratch, but I've got some wonderful companies, and I will give it my all to get it back so my family can continue living the life I worked so hard to give them."
Tommy added: "Just call me the monk who's sold his Ferrari for a bit."
The reality star has now launched a new trainer company called CTRNE World and explained that his aim is to be "content" with what he has achieved in life by the time he reaches his 60s.
Mallet told the podcast: "I wanna get to the point where I'm in my 60s and I'm so content I've done everything that I was destined to do that I'm at peace with my life. And I'm not going to do that by worrying about everything else."