April 24, 2014

FRIDAY'S DAILY PULSE: A Special Report

| 5/14/2010

The Senate Candidates’ Wealth

By Amy Keller

Party affiliation isn’t the only thing that separates Florida Gov. Charlie Crist from his opponents in Florida’s 2010 Senate race. Thanks to the assets of his wife, Carole Rome, the unaffiliated governor is worth a good deal more than either Republican Marco Rubio or Democrat Kendrick Meek, according to federal financial disclosure forms filed with the U.S. Senate.

The figures on the required disclosure forms don’t require candidates to list the value of their primary residences and are somewhat inexact because they require only disclosure of assets in broad ranges rather than exact amounts. They do provide a good gauge of the wealth of the Florida candidates for U.S. Senate, where two-thirds of officeholders were millionaires in 2008, according to the Center for Responsive Politics. The average Florida family’s net worth is $117,718.

The Candidates

Charlie Crist:

The disclosure form Crist filed last year with the state disclosed his own net worth of $466,063. The state filing didn’t require him to list Rome’s assets. The federal filing, however, requires candidates to list all marital assets, and Crist lists between $2,050,009 and $4,350,000 worth of assets in Rome’s name. Rome’s largest assets are four trusts, with a total value of between $1,650,005 and $3.35 million. Florida’s first lady, whose family owns a Halloween costume business in New York, also has three bank accounts at Regions Bank, SunTrust and Chase Bank with cash balances of between $300,003 and $750,000. She also holds between $100,001 and $250,000 of U.S. Treasury bills. A separate bank account belonging to her children has between $50,001 and $100,000. Not included on the form is the $4-million condo she owns on Fisher Island.
» DOWNLOAD Charlie Crist's financial statement here (PDF file)

Marco Rubio:

The former Speaker of the Florida House of Representatives reports an annual income of $486,500 but lists just two assets with any significant value — a savings account worth between $1,001 and $15,000 and a money market account valued at between $1,001 and $15,000. His liabilities include a $100,001 to $250,000 mortgage on a second home and student loans totaling between $100,001 and $250,000. He listed no assets in his wife’s name. The bulk of Rubio’s income — $250,000 — came from his employment with Broad & Cassel law firm in Miami, with other money flowing from his consulting businesses.
» DOWNLOAD Marco Rubio's financial statement here (PDF file)

Kendrick Meek:

On his 2009 federal disclosure forms, Meek lists between $130,022 and $460,000 in assets and just $15,001 to $50,000 in liabilities, giving him a net worth of between $80,000 and $445,000. Other than a joint bank account with between $1,001 and $5,000, all of Meek’s assets are in his wife’s name. Her holdings include a Prudential annuity valued at between $100,001 and $500,000 and a 401(k) worth between $1,001 and $15,000. Meek, who earns $174,000 annually as a member of Congress, listed no outside income. His wife, Leslie, is an administrative law judge in the District of Columbia.
» DOWNLOAD Kendrick Meek's financial statement here (PDF file)

Jeff Greene:

The Palm Beach Democrat who jumped into the Senate race in April hasn’t yet filed his federal financial disclosure form, but Forbes magazine pegs his net worth at $2 billion. The political novice earned his fortune betting against crashing housing markets and shorting the subprime market.

(Note: We will post Jeff Greene's financial statement when it becomes available.)

Related:

» For more information on the finances of your state politicians, click here .


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