Millionaires-in-Chief

Here's a piece from Money magazine that starts with the following: "The top White House contenders are a lot richer than the rest of us. Here's where they got it...and where it goes." I'll link to the page for each candidate and pull out a few choice tidbits:

Clinton

• Net Worth: $34.9 million 
• 2006 income: $12.1 million
• Interesting info: It's been Bill's great gift for gab that has really feathered the Clintons' nest. He earned an astounding $41 million speaking to groups and corporations in the first six years since he left office. Standard fee: $150,000. The fact that he may be married to the next President can only burnish his star power.

Edwards

• Net Worth: $54.7 million
• 2006 income: $3.7 million
• Interesting info: Most of Edwards' wealth comes from awards won as a medical malpractice and personal-injury attorney.

Giuliani

• Net Worth: $52.2 million
• 2006 Income: $17.0 million
• Interesting info: Giuliani's greatest financial triumph has been his speech-making. In 2006 he took in $11.4 million by delivering 124 talks for up to $200,000 each, one speech every three days.

McCain

• Net Worth: $40.4 million
• 2006 income: $3.9 million
• Interesting info: His wife Cindy is the chairman of Hensley & Co., the Anheuser-Busch beer distribution business she inherited from her father. As an only child, Cindy is in charge of the family trusts. Although she only has to report that she has a salary of $1,000 or more, her income from investments in 2006 came to about $3.7 million.

Obama

• Net Worth: $1.3 million
• 2006 income: $991,000
• Interesting info: The big [income] boost came from his writing, following the stirring speech at the 2004 Democratic Convention that made him famous.

Romney

• Net Worth: $202 million
• 2006 income: $37.6 million
• Interesting info: Romney is the candidate with the most riding on the estate-tax debate. Hugh Smith and Stewart Welch of the Welch Group say that unless Congress changes laws, Romney's estate could owe at least $90 million as of 2011.

Thompson

• Net Worth: $8.1 million
• 2006 income: $9.4 million
• Interesting info: In 2006 he took in about $3.6 million for his acting roles, another $3.6 million as a commentator for ABC Radio, plus $1.6 million for making speeches. He collected an additional $200,000 or so from his investments.

A few comments from me:

1. Yep, they're all extremely wealthy. Only Obama is within somewhat reasonable reach of most Americans. Then again, he's the youngest here, so give him time.

2. Looks like to me that a couple of these people are as good at spending their money as they are saving it. Obama and Thompson have net worths that are either below or just slightly above their 2006 salary. Yikes! Someone their ages should have a net worth far above their annual salary.

3. Bill Clinton has earned $41 million in speaking fees? Sweet! Where do I sign up for that gig?

4. Of course, Giuliani has talked his way into $11 million in one year, so in six years he should blast way past Bill.

5. Romney's potential estate tax bill is larger than the net worths of all the other candidates. ;-)

Comments

[Brandon J]

I'd be interested in seeing what the other candidates are worth. Of course, main stream media only offers that THEY feel we should know.

OK enough conspiracy theory. Look at the Bush/Cheney vs. Kerry/Edwards campaign had as their net worth. It's ridiculous that that's what Americans want as their leaders. Rich Americans. I would like to see a middle income (for example, a blogger like me) could do in office.

Brandon J
Money for Military

[Edward]

Giuliani also is a partner in a very successful law firm; Bracewell & Giuliani. They have several offices throughout the US.

[Kevin]

The fact that there are 125+ groups willing to pay $200k to hear ANYONE speak astonishes me. Just goes to prove that this country loves to piss away money.

[Big Cheese]

FMF,

Where is your coverage of Ron Paul?

Big Cheese

[FMF]

BC --

Money didn't include him, Huckabee or Richardson.

[Scott]

"5. Romney's potential estate tax bill is larger than the net worths of all the other candidates. ;-)"

Yep, and according to all of the Democratic candidates, that's not enough -- he should pay more. Go figure.