CHARLESTON, W.Va. (AP) — U.S. Sen. Jim Justice of West Virginia has agreed to pay nearly $5.2 million in overdue personal taxes, the latest saga for the former billionaire who has been followed by a trail of financial challenges going back well over a decade.
An attorney for Justice and his wife, Cathy, entered into a joint motion for consent judgment with the federal government Monday, the same day that the government filed a lawsuit saying that the couple “have neglected or refused to make full payment” for the income taxes dating to 2009. An attorney for the U.S. Justice Department's tax division signed off on the agreement.
Justice had a fortune estimated at $1.9 billion last decade by Forbes magazine, which 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.
A spokesperson for Justice's office didn’t immediate respond to an email seeking comment Tuesday.
During a briefing with local media in October, Justice asserted that his companies “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.”
Justice, a former two-term Republican governor who owns dozens of businesses that include coal and agricultural operations, was elected last November to the Senate. He took over the seat vacated by the retiring Joe Manchin, a Democrat who became an independent in 2024 near the end of his second full term.
Justice still has other financial challenges to work out.
The Internal Revenue Service last month filed liens totaling more than $8 million against Justice and his wife on unpaid personal taxes. In September, 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.
Last month, a foreclosure auction on several hundred lots owned by the Justice family at a resort community near Beckley was paused. The auction 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.
In 2021, the IRS filed liens 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.
Justice’s family settled debts last year 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.
FILE - Sen. Jim Justice, R-W.Va., listens as President Donald Trump speaks during an event on energy production in the East Room of the White House, April 8, 2025, in Washington. (AP Photo/Alex Brandon, File)
NEW YORK (AP) — Stocks wavered on Wall Street Friday to kick off the new year as early gains led by technology stocks failed to hold up.
The S&P 500 rose 0.2% after shifting between small gains and losses throughout the morning. The benchmark index is coming off a gain of more than 16% in 2025.
The Nasdaq composite rose 0.1%. The Dow Jones Industrial Average rose 289 points, or 0.6%, as of 2:32 p.m. Eastern.
Major indexes are closing a mostly tepid, shortened holiday week. Markets were closed Thursday for New Year’s Day.
Markets in Europe and Asia made strong gains. Indexes in Britain and South Korea hit records.
Technology stocks were steering the market, especially companies with a focus on artificial intelligence, continuing the trend that pushed the broader market to records in 2025.
Nvidia jumped 1.4% and was the biggest force trying to push the market higher. Broadcom rose 0.4%. But a 0.7% drop from Apple and a 2.4% fall for Microsoft helped to counter those gains.
Those technology companies are among the most valuable companies in the world and their outsized valuations give them more influence on the market's direction. That includes sometimes pushing the market up and down from hour to hour.
Technology companies have been a major focus because of advancements in artificial intelligence technology and the potential for growth within the sector. Wall Street has been betting that demand for computer chips and other items needed for data centers will help justify the big investments from technology companies and their pricey stock values.
Tesla fell 2.6% after reporting falling sales for a second year in a row.
Furniture gained ground following President Donald Trump's move to delay increased tariffs on upholstered furniture. RH rose 9.5% and Wayfair rose 6.3%.
E-commerce giant Alibaba climbed 4.3% and Baidu, maker of the Ernie chatbot, jumped 9.4% in Hong Kong after it said it plans to spin off its AI computer chip unit Kunlunxin, which would list shares in Hong Kong early in 2027. The plan is subject to regulatory approvals.
Crude oil prices were mostly stable. Prices for U.S. crude oil fell 0.1% to $57.38 per barrel. The price of Brent crude, the international standard, fell 0.1% to $60.77 per barrel.
The price of gold fell 0.2%.
Treasury yields held steady in the bond market. The yield on the 10-year Treasury rose to 4.19% from 4.17% late Wednesday. The yield on the two-year Treasury, which moves more closely with expectations for what the Federal Reserve will do, held at 3.48% from late Wednesday.
Wall Street will move past the mostly quiet holiday season after Friday. The first full week of the new year will include several closely watched economic updates. They will also be some of the last big updates the Fed sees before its next meeting at the end of January.
Next week will feature private reports on the status of the services sector, which is the largest part of the U.S. economy, along with consumer sentiment. Government reports on the job market will also be released. They will all help paint a clearer picture of how various parts of the U.S. economy closed out 2025 and where it might be headed in 2026.
The Fed has had a more difficult task because of the complex shifts within the economy. It cut interest rates three times toward the end of 2025, partly to help counter a weakening jobs market. But inflation remains above its target rate of 2% and cutting interest rates could add more fuel to rising prices. Consumers have already expressed more caution amid the squeeze from stubborn inflation and the U.S. trade war with much of the world has added more uncertainty.
The Fed has already signaled concern and caution. Wall Street is betting that the central bank will hold its benchmark interest rate steady at its January meeting.
AP Business Writer Elaine Kurtenbach contributed to this report.
Trader Jonathan Mueller works on the floor of the New York Stock Exchange, Friday, Jan. 2, 2026. (AP Photo/Richard Drew)
Specialists Patrick King, left, and Douglas Johnson work on the floor of the New York Stock Exchange, Friday, Jan. 2, 2026. (AP Photo/Richard Drew)
Trader Vincent Napolitano, foreground, works with colleagues on the floor of the New York Stock Exchange, Friday, Jan. 2, 2026. (AP Photo/Richard Drew)
Trader Fred Demarco works on the floor of the New York Stock Exchange, Friday, Jan. 2, 2026. (AP Photo/Richard Drew)
Trader Jonathan Mueller works on the floor of the New York Stock Exchange, Friday, Jan. 2, 2026. (AP Photo/Richard Drew)
Trader Michael Capolino works on the floor of the New York Stock Exchange, Friday, Jan. 2, 2026. (AP Photo/Richard Drew)
A screen shows the Korea Composite Stock Price Index (KOSPI) as participants applaud during the opening ceremony of the 2026 trading year at the Korea Exchange in Seoul, South Korea, Friday, Jan. 2, 2026. (AP Photo/Lee Jin-man)
Dancers in traditional costumes perform to celebrate the opening for the 2026 trading year outside of the Korea Exchange in Seoul, South Korea, Friday, Jan. 2, 2026. (AP Photo/Lee Jin-man)
A worker walks near a screen showing the Korea Composite Stock Price Index (KOSPI) after the opening ceremony of the 2026 trading year at the Korea Exchange in Seoul, South Korea, Friday, Jan. 2, 2026. (AP Photo/Lee Jin-man)
South Korean financial officers celebrate the opening for the 2026 trading year outside of the Korea Exchange in Seoul, South Korea, Friday, Jan. 2, 2026. (AP Photo/Lee Jin-man)
Dancers in a bull-shaped costume perform to celebrate the opening for the 2026 trading year outside of the Korea Exchange in Seoul, South Korea, Friday, Jan. 2, 2026. (AP Photo/Lee Jin-man)
