The proceeds from the estate of Stephen Paddock, the perpetrator of the deadly Las Vegas mass shooting in 2017, will be distributed among the families of 61 victims, amounting to around $20,000 each. A court document released this week confirmed that the properties in Nevada, including those in Mesquite, Reno, and Henderson, will be sold in order to provide the funds. Paddock’s mother has consented to the sale of the properties and the payment of the money to the victims’ families, with lawyers and creditors waiving their fees and balances so that all the funds can go to the families.
At the time of the shooting, Paddock, a 64-year-old accountant, fired from his perch on the 32nd floor of the MGM Resorts’ Mandalay Bay Hotel onto the crowd of concert-goers below. In total, 58 people lost their lives in the tragedy, with an additional unnamed victim added to the list later. Paddock took his own life before authorities could apprehend him, leaving no note or explanation for his actions.
In 2020, MGM Resorts and its insurers settled with the shooting victims and their families for a total of $800 million. Last month, it was reported that Paddock had been losing a substantial amount of money to gambling losses prior to the shooting, including $38,000 at the Tropicana Las Vegas.
Additionally, this week, it was revealed that 36 of the 49 weapons owned by Paddock have been destroyed, with the remaining 13 firearms seized by the FBI and taken out of circulation. The weapons were destroyed by a person or entity which paid $62,000 for that purpose.
The incident has resulted in increased security measures in many larger casinos and hotel properties, as well as a detailed self-assessment by the Las Vegas Metropolitan Police Department.
