Posted on 06/27/2004 4:09:31 AM PDT by Liz
Teresa Heinz Kerry, through a network of investments in blue-chip corporations, venture capital funds and municipal bonds, controls a family fortune worth an estimated $1 billion, an analysis of public records shows.
The $1 billion figure is double the estimates of her wealth that are widely cited in news stories about her husband, Sen. John F. Kerry, the presumptive Democratic nominee for president.
The couple would rank as the wealthiest to occupy the White House, far surpassing such storied presidential fortunes as the Kennedys'. Their assets are so vast and far-reaching that they mirror the U.S. economy and will probably raise questions about conflicts of interest.
"She represents a new ballgame in terms of her wealth and in terms of the wealth she controls," said Kevin Phillips, a political commentator and author of the history "Wealth and Democracy."
Heinz Kerry's investments, worth an estimated $500 million in 1995, have grown over the past nine years to $1 billion or more, even accounting for large living expenses and charitable contributions, according to an analysis of Securities and Exchange Commission filings, Senate financial disclosure reports, probate documents and other public records.
Because key details of Heinz Kerry's investments are not in the public record, a precise valuation is not possible. The Los Angeles Times' analysis produced estimates as low as $900 million and as high as $3.2 billion. Three senior executives at investment companies that handle accounts for wealthy clients reviewed the Times' study and said the $1 billion valuation was a fair and conservative estimate.
--SNIP--
(Excerpt) Read more at startribune.com ...
That's a good start, though.
Used to be 500 million.
By the way, I'm for sale too. I can snow board, kite ski, surf, all that macho stuff, etc. PhD in Physics from U.C. Berkeley. Any rich conservative babes out there? I'm your guy! I'm working on my gigilo skills. Probably the best around, and not bragging. Love to talk. etc.
See, this is why Kerry knows the problems of the common folk. He's a po' workin' man! (/sarcasm)
Can't wait to see that tax info....
But--but--but , he is just s regular guy. Why does he take his Senate pay fraudulently if he has all this money?
We don't know the actual amt----she won't release her tax records----- even if she does, won't be the whole picture.
More proof that America is in the worst depression in it's history.
Umm...saving up so he can take some night school classes and get honest work? Nahhh...
Heinz Kerry Releases Personal Tax Info
Wednesday, May 12, 2004
LOUISVILLE, Ky. — Teresa Heinz Kerry (search) may be the richest potential first lady ever to hit the campaign trail, having earned more than $5 million in taxable and non-taxable income last year.
The campaign of her husband, Massachusetts Sen. John Kerry (search), released Heinz Kerry's personal tax information on Tuesday, after revealing that she received an extension to file her 2003 federal income tax return.
Heinz Kerry, who files her returns separately from her husband, said she will make available the first two pages of her 1040 when it's filed in October.
Of the $5.115 million in income, about $2.3 million of dividend and interest income was taxable while another $2.7 million came from tax-exempt state, municipal and other public entity bonds.
Heinz Kerry paid $750,000 toward her 2003 federal, state and local income tax liability at the time of the extension filing, or about 32 percent of her gross taxable income.
Of that sum, $587,000 is estimated for federal income taxes; $162,777 is estimated for state and local income taxes, and Heinz Kerry paid an additional $280,000 towards expected 2003 and 2004 federal tax liability.
Heinz Kerry had resisted releasing her tax filings, saying most of her income is in trust funds with her children's names on them and it would be unfair to them to reveal their wealth.
"While I am not a candidate for any public office, a great deal of my financial information has been disclosed for many years on my husband's Senate Ethics Disclosure, and now that he is a presidential candidate, with the Office of Government Ethics," she said. "John and I believe this strikes a balance between my family's privacy and the media's requests for more financial information."
Kerry, who mortgaged their Boston townhome to keep him in the Democratic primary race last winter, paid $90,575 in federal taxes on $395,338 in adjusted gross income last year, according to copies of his federal returns released last month by his presidential campaign.
Heinz Kerry's exact wealth is not known, but has been estimated to be upwards of $500 million. She is the heiress of the Heinz Co. fortune, and runs the Heinz Family Foundation (search), which distributed $4.6 million in charitable contributions last year. Heinz Kerry runs the non-profit corporation, which she and her late husband, Pennsylvania Republican Sen. John Heinz, created before his death in 1991.
Heinz Kerry also is chairman of the Howard Heinz Endowment and a board member on the Vira I. Heinz Endowment, both were established by earlier generations of the Heinz family and make significant annual charitable grants. She does not have any managerial or other role with the H. J. Heinz Company or its company-directed foundation.
Fox News' Sharon Kehnemui and Catherine Loper contributed to this report.
Either she is getting an extremely bad return on her investments or she's invested in one of those tax shelters that enables her not to report all of her taxable income. Even if she discloses the first two pages of her return, these wouldn't disclose income that she's not reporting under a shady tax shelter.
Tsk, tsk...class envy.
Kerry: " It's the family's money, not mine. "
Heheh........Bush needs to get that in an ad.
There is nothing wrong with being rich and running for president. I admire rich people. Rich people have gotten rich by doing something a lot of other people have found to be valuable and were willing to pay them for it. Rich people are the best. It is time for even more tax cuts for rich people. Being a healthy poor person should be a sin.
Having said that, if you look at Kerry's 20 years in the Senate, he has done nothing except marry a dead republican senator's billionaire wife. He should not be president.
Kerry: " I was poor until I was rich. "
Pray for W and Our Troops
There is no way he can represent or have an interest in the middle class people. He is completely out of touch.
Let's boycott all heinz products.
God created rich people in His own image as divine role models.
They are benevolent and compassionate beings who provide us with the air that we breath.
Poor people pollute that air with their musty body odors.
They should not be permitted inside the gates of heaven.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.