September 25th 2024.
A well-known face from The Only Way Is Essex has opened up about his financial struggles. Tommy Mallet, a former star on the show, revealed that he now only has £5,000 left in his bank account, despite once being worth millions.
The 32-year-old appeared on the popular reality series from 2014 to 2021, before taking a break and returning last year. During his time on the show, he also co-founded the successful trainer brand Mallet London with his former business partner Evren Ozka, which brought in millions over the past nine years.
However, things took a turn for the worse when the two got into a heated feud and ended up in a court case. Speaking about his personal life and business ventures, Tommy shared that most of his once large fortune is now gone.
"I used to have four million in the bank at one point. But now, I only have five grand left and I'm thinking, 'how am I going to pay for everything?'" he revealed on the Everybody Wants To Be Us podcast with Ben Gallaga.
The Towie star had left his company in October 2023 and had to sell off all his assets to defend himself in the ongoing court case. However, he remains determined to get back on his feet for the sake of his family.
"I may have to start from scratch, but I have some amazing companies and I will give it my all to get back to where I was. I want to be able to provide for my family the life that I worked so hard to give them," he shared.
Since leaving Mallet London, Tommy has launched a new footwear brand called CTRNE World. He hopes to reach a point in his life where he is content with all that he has achieved and is at peace with himself.
"I want to get to my 60s and know that I have accomplished everything I was meant to do. I won't achieve that by worrying about the past," he said in the podcast.
Last week, Evren spoke out after Tommy made claims about their business relationship being "toxic" and that his family's money was tied up in the company. Evren denied these allegations and stated that the company has been doing well since Tommy's departure.
As for the future of the company, Evren has no plans to change the name, despite it being named after the reality star. And this week, Tommy announced that he will be releasing a documentary about the ups and downs of his personal empire.
You can catch The Only Way Is Essex on ITVX. And if you have a celebrity story, video, or pictures, feel free to get in touch with The Agency entertainment team via email, phone, or by visiting their Submit Stuff page. They would love to hear from you.
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