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Home >> World
UPDATED: 08:26, May 18, 2007
Many millionaires among U.S. presidential hopefuls: report
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Many of those seeking the U.S. presidency in next year's general elections are millionaires, or multimillionaires, according to financial disclosure forms released by the candidates.

At least 10 of the major party candidates are millionaires and, collectively, the field of contenders is worth at least a quarter of a billion U.S. dollars, The Washington Post reported Thursday, citing the financial disclosure forms released Wednesday.

The candidates have amassed their fortunes in a variety of fashions. Senator Barack Obama, a leading Democratic candidate, wrote his way to millionaire status with a best-selling memoir.

Former New York mayor Rudolph Giuliani, a front-runner in the Republican field, raked in 11 million dollars by giving speeches across the globe last year.

Giuliani left the mayor's office at the end of 2001 with 1.2 million to 1.8 million dollars in personal assets. His empire has since grown to include a consulting firm that earned him 4.1 million dollars last year, a partnership in a law firm that guarantees him 1 million dollars per year, and a dizzying array of stock holdings and business interests that combined are worth 20 million to 70 million dollars.

Republican Senator John McCain's wife is the millionaire daughter of an Arizona beer magnate, and former Massachusetts governor Mitt Romney, also a Republican, became the richest of the 2008 candidates for the White House by dealing in private equity funds that have bought and sold significant interests in more than 180 companies.

Democrat John Edwards, a trial lawyer who earned his initial fortune by defending the ill and injured in the courtroom, made 479,000 dollars last year in salary and held more than 7.5 million dollars in investments with Fortress Investment Group, a New York hedge fund.

Edwards's net worth is 22 million to 62 million dollars, according to his report. His campaign estimated the total at 29.5 million dollars, and it said he gave 350,000 dollars to charity last year.

Among candidates reporting their net worth as of the end of 2006 were New Mexico Governor Bill Richardson, a Democrat, with between 3.5 million and 10.1 million dollars; Republican Senator Sam Brownback, with between 3.3 million and 8.7 million dollars; Democratic Senator Christopher Dodd, 1.5 million to 3.5 million dollars; Republican Representative Duncan Hunter, 1 million to 2.4 million dollars; and Obama, 500,000 to 1.1 million dollars.

Five candidates received a 45-day extension from the Federal Election Commission, including McCain, Democratic Senator Hillary Clinton and Romney, whose campaign estimated his personal assets at between 190 million and 250 million dollars.

Source: Xinhua


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