Michael Hutto is a former co-founder of Salt Life, a popular clothing brand for surfers, boaters, and fishermen. He sold his stake in the company for nearly $40 million in 2013, but his net worth took a hit after he was sentenced to 12 years in prison for killing his teenage girlfriend in 2020. How much is Michael Hutto’s net worth now and what led to his downfall? This article will explore his life, career, and criminal case.
Early Life and Education
Michael Hutto was born in 1966 in the United States. Not much is known about his parents, siblings, or childhood. He graduated from a reputed university in the US and started his career as a businessman and entrepreneur.
Salt Life: A Successful Clothing Brand
Hutto co-founded Salt Life in 2003 with three of his friends who shared his passion for the ocean and water sports. The brand’s logo, which features a fish, a surfboard, and a skull, became a symbol of the coastal lifestyle and culture. Salt Life’s products include apparel, accessories, footwear, and gear for men, women, and children.
According to its website, Salt Life’s mission is to “offer a brand that provides a fashion-forward look but still offer products that are functional and of the highest quality”. The brand also sponsors professional athletes and events in surfing, fishing, diving, and other water sports.
Salt Life grew rapidly and expanded its distribution to over 2,000 retailers across the US and online. In 2013, Hutto and his partners sold the brand to Delta Apparel, a publicly traded company, for $37 million in cash and $2.5 million in stock. Hutto reportedly received about $10 million from the deal.
A Tragic and Fatal Relationship
Hutto’s life took a dark turn in 2020 when he met Lora Grace Duncan, an 18-year-old girl from Lake City, Florida. The two started a relationship that was marred by drugs, violence, and manipulation. Hutto allegedly gave Duncan cocaine, heroin, and other substances and controlled her movements and communications.
On October 29, 2020, Hutto and Duncan checked into a hotel room at the Hilton Singer Island Oceanfront Resort in Palm Beach County, Florida. According to Hutto, they were playing a mock shooting game with a gun and their fingers. He claimed that he accidentally shot Duncan in the chest while she was sitting on the bathroom counter. He then fled the scene, leaving her body, his wallet, and his ID in the room.
The next day, Duncan’s body was discovered by the hotel staff after her father reported her missing. He had not heard from her in two days and was worried about her safety. He told the police that his daughter was dating Hutto, who he suspected of giving her drugs and abusing her.
Hutto was arrested on October 30 at a gas station in Jacksonville, Florida, where he had overdosed in his car. He was taken to a hospital and then transferred to the Palm Beach County Jail. He was charged with manslaughter and possession of a firearm by a convicted felon. He had a prior conviction for grand theft in 1998.
A Guilty Plea and a Prison Sentence
In February 2023, Hutto pleaded guilty to the manslaughter charge and accepted a plea deal that spared him from a possible life sentence. He was sentenced to 12 years in prison, followed by 10 years of probation. He also agreed to forfeit his gun and pay $5,000 in restitution to Duncan’s family.
Hutto apologized to Duncan’s family in court and said he loved her and never meant to hurt her. He also said he was suffering from mental health issues and drug addiction. He asked for forgiveness and mercy from the judge.
Duncan’s family and friends expressed their grief and anger at Hutto and said he robbed them of a beautiful and bright young woman who had a promising future. They said he manipulated, exploited, and killed her and deserved a harsher punishment.
Michael Hutto Salt Life Net Worth: A Fallen Fortune
Michael Hutto’s net worth is estimated to be around $1 million, according to some sources. However, this figure may not be accurate or up to date, as it does not account for his legal fees, taxes, debts, or other expenses. It is also unclear how much of his fortune he still owns or has access to after selling Salt Life and being incarcerated.
Hutto’s net worth was likely much higher before his involvement in the fatal shooting of Duncan. He made a substantial amount of money from his stake in Salt Life, which he sold for nearly $40 million in 2013. He also had other businesses and investments that contributed to his wealth.
However, Hutto’s net worth also suffered from his drug addiction, lavish spending, and criminal behavior. He reportedly spent millions of dollars on drugs, cars, boats, and other luxury items. He also faced several lawsuits and judgments from creditors, former partners, and customers who accused him of fraud, breach of contract, and other offenses.
Hutto’s net worth may also be affected by his prison sentence and probation. He will not be able to earn any income or manage his assets while behind bars. He may also have to pay fines, fees, restitution, and other costs as part of his plea deal and probation terms. He may also face civil lawsuits from Duncan’s family or others who seek damages for his actions.
Conclusion
Michael Hutto is a former co-founder of Salt Life, a successful clothing brand for ocean lovers. He sold his stake in the company for nearly $40 million in 2013, but his net worth plummeted after he killed his teenage girlfriend in 2020. He pleaded guilty to manslaughter and was sentenced to 12 years in prison. His net worth is estimated to be around $1 million, but this figure may not reflect his current financial situation or future prospects.