Was ‘RHOC’ Newbie Elizabeth Lyn Vargas Already Caught Bending the Truth When It Comes to Her Possible Net Worth?

Real Housewives of Orange County newbie Elizabeth Lyn Vargas has already made a name for herself in the new season. Fans already know all about her lavish lifestyle and her willingness to get candid in conversations. Elizabeth is a successful entrepreneur who was also married to the former CEO and majority shareholder of American Seafoods, Bernt Bodal. As it turns out, she was significantly bending the truth when discussing her possible net worth.

Elizabeth Lyn Vargas RHOC
‘RHOC’ stars Elizabeth Lyn Vargas and Emily Simpson | Casey Durkin/Bravo

Elizabeth Lyn Vargas just finalized her divorce after a 20-year relationship

Over the summer, Elizabeth revealed on her Instagram Stories that she and Bernt had finalized their divorce. She described it as “the end of an era.”

“I was with the guy for 20 years. Seventeen years but divorcing for three. Twenty years total of my life and I’m happy but it’s a failure,” Elizabeth said. “I paid an arm and a leg to get divorced and to get what I thought I needed … and here we are transitioning to a new phase in my life and I’m excited.”

While finalizing her divorce from Bernt, Elizabeth moved on to a new relationship. In the RHOC season premiere, the Missouri native dished about her new boyfriend, Jimmy. She explained that they hadn’t consummated their relationship yet because they wanted to wait and do things right.

Elizabeth also declared during the RHOC premiere that her ex-husband was a billionaire. This led many fans to believe that she would be getting a major payout from the divorce settlement. As Cheat Sheet previously reported, Elizabeth already had an estimated net worth on her own of $30 million. Would the divorce settlement officially make her the wealthiest Housewife ever?

Despite the ‘RHOC’ star’s claims, Bernt Bodal is not a billionaire

Despite Elizabeth’s claims in the RHOC premiere that Bernt was a billionaire, that’s quite an exaggeration. According to Celebrity Net Worth, Bernt’s actual net worth is closer to $200 million. While that is a substantial amount of wealth, it’s just a fraction of the one billion that Elizabeth claimed.

Bernt is a Norwegian-American businessman and musician who stepped down as CEO of American Seafoods in 2017. Today, he is still the majority shareholder in the company that has reported annual revenues of $600 million. In 2012, Bernt appeared on the CBS reality series Undercover Boss.

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During Bernt and Elizabeth Lyn’s marriage, they purchased a $3.5 million property in La Quinta, California near Palm Springs. The former couple built a 10,500 square-foot mansion with six bedrooms and nine bathrooms.

The couple put the home on the market in 2017 for $11.9 million in the wake of their split. They sold the property in the summer of 2020 for a reduced price of $8.5 million.

Elizabeth Lyn Vargas just took her new relationship to the next level

The details of Elizabeth Lyn and Bernt’s divorce are confidential. But one thing’s for sure, the RHOC star didn’t get 50 percent of one billion dollars. That doesn’t mean she didn’t get a nice settlement. But her claims that her ex-husband is a billionaire was definitely her bending the truth.

Still, Elizabeth Lyn is doing just fine financially. She’s also happy in her personal life. During a recent appearance on Watch What Happens Live with Andy Cohen, Elizabeth Lyn revealed that she and her boyfriend Jimmy have finally consummated their relationship.

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When a fan asked the RHOC star if she and Jimmy had finally had sex, she replied, “Yes, I can officially say that I am re-christened. Can’t you see me glow?”

“I was a little nervous. Being with someone that long and not banging it out was kind of interesting,” she said. “I was very patient and so was he, so the moment it kind of happened was just sort of, it just happened, and it was wonderful.”

New episodes of Real Housewives of Orange County air Wednesday nights on Bravo.