Welcome to Part II of our series on the personal finances of the presidential candidates from both parties. Yesterday I posted about the Democratic contenders, today we’ll get to the Republicans.
With the primaries coming up and selection time at hand, I thought it would be instructive to get a glimpse into the candidates personal finances. They’ve all filed disclosures with the Federal Elections Commission and the data this entry is based on those public disclosures. The only “funny” thing about it is, candidates are not forced to specify numbers, only select ranges for asset, liability, and income classes. When a number was not specified by the candidate, the mid-point of the class was chosen. Some of the classes are quite broad, particularly when the ranges increase to amounts over $100,000. So the data below are best presented as informed estimates of the candidates net worth and most recently reported income through the FEC disclosure process.
Part II, the Republican Contenders – Part I, the Democratic Contenders
Mr. Tancredo is the least well-heeled of his colleagues, at least according to his FEC filings. He reported relatively few assets and relatively simple and clear cut income streams. With his present net worth, it’s difficult seeing that he personally will be giving much to his own campaign during primary season.
Estimated Net Worth: $800,000
Estimated 2006 Income: $232,000
Yes, according to net worth Governor Huckabee should be ordered first on this list. But when one takes in the income differential between Huckabee and Tancredo, it’s clear that Huckabee is working it and increasing his net worth at a faster rate. One other thing to note about Governor Huckabee, his base salary accounted for about 20% of his 2006 net income, he has an interesting array of honoraria and consulting fees that make up the bulk of his compensation.
Estimated Net Worth: $700,000
Estimated 2006 Income: $488,000
While Representative Hunter checks in with the net worth of a millionaire, he is the lowest paid (at least in 2006) of the Republican contenders for office. His assets, liabilities, and income streams were simple and straightforward to interpret (unlike some of his colleagues who seem to be “creative” in their endeavors.)
Estimated Net Worth: $1,500,000
Estimated 2006 Income: $179,000
As an internet darling, Representative Paul has been scrutinized closely. His filing showed an array of investments and assets that were reasonably simple and easy to understand. His portfolio is likely to be non-controversial and appears to be consistent with his age and income levels.
Estimated Net Worth: $2,300,000
Estimated 2006 Income: $295,000
Mr. Thompson’s wealth has been accumulated over the last few years, largely as a result of his acting in Hollywood. It’s clear that taking a position in public service will put a serious crimp in his income stream since it will be unlikely that he carries on his show business activities during that time period.
Estimated Net Worth: $8,000,000
Estimated 2006 Income: $9,000,000
As a long time public figure, Senator McCain has endured great scrutiny of his asset and income status. McCain, like Hillary Clinton, derives the largest portion of his assets and income from his spousal partner – it’s clear that the couple have amassed a large nest egg and continue to add to it on an annual basis.
Estimated Net Worth: $40,000,000
Estimated 2006 Income: $4,000,000
Despite a messy personal life (divorces and subsequent asset depletion) Mr. Giuliani has amassed quite a fortune in his post-Mayoral life. He is raking in the big bucks on the speaking circuit and is capable of writing himself a big check to help in his campaign, should he choose to do so.
Estimated Net Worth: $52,000,000
Estimated 2006 Income: $17,000,000
Mr. Romney has the dubious distinction of being the most wealthy contender from either party in this race. Not since H. Ross Perot ran for office has there been a candidate with as high a wealth level as Romney (though Perot was a billionaire vs. a simple hundred-millionaire.) It’s clear that Romney can provide substantial support to his campaign should he choose to do so. The primary source of this wealth is through his association with Bain Capital, a private equity investment firm.
Estimated Net Worth: $202,000,000
Estimated 2006 Income: $38,000,000
I hope this has been an interesting article, if you liked this content, be sure to check out the entry on the Democrats as well.
[…] Part I, the Democratic Contenders – Part II, the Republican Contenders […]