In an latest update to the ongoing legal battle surrounding the Sandy Hook Elementary School massacre, controversial conspiracy theorist Alex Jones has proposed paying the victims at least $55 million over a 10-year period, as stated in his recent bankruptcy filing. This amount represents a small fraction of the total $1.4 billion that courts have ordered Jones to pay to the families affected by his baseless conspiracy theories about the tragic shooting.

Jones estimated his assets to be worth between $1 million and $10 million in his bankruptcy filing. Forbes had previously identified five homes linked to Jones, collectively valued at $7.5 million. However, one property worth $3.5 million was reportedly transferred to his wife, Erika Wulff.

The families of the victims of the 2012 Sandy Hook massacre, based in Newtown, Connecticut, successfully sued Jones for defamation in both Connecticut and Texas courts last year. Jones, the host of InfoWars, had used his platform to spread false conspiracy theories about the shooting being staged and labeled the victims and their families as actors. Subsequently, Jones filed for Chapter 11 bankruptcy, temporarily halting any payments to the affected families.

Jones' media company, Free Speech Systems, also filed for bankruptcy with $14.3 million in assets. Last month, they proposed annual payments of around $4 million to creditors. However, the families, in their plan for an $85 million payout, criticized Jones for his "extravagant lifestyle" and failure to preserve the value of his holdings, as well as his refusal to sell assets and produce certain financial documents. In October, a Texas judge ruled that Jones must still pay the families a staggering $1.1 billion, despite his bankruptcy filing. The court has yet to decide whether bankruptcy will reduce the remaining $300 million.