Cantor getting rich off Domino’s Pizza

Cantor getting rich off Domino’s Pizza
© Greg Nash

House Majority Leader Eric CantorEric Ivan CantorScalise allies upset over Ryan blindside on McCarthy endorsement 2018 will test the power of political nobodies Ryan signals support for McCarthy as next GOP leader MORE is leaving Congress a wealthy man, partly thanks to Domino’s Pizza.

The Virginia Republican, who is stepping down from GOP leadership after a stunning primary loss, became about $1.5 million richer last year as his minimum net worth hit $5.4 million, new disclosure records show.

Cantor’s wealth is mostly tucked into stocks, retirement accounts and other investment funds — but it appears his hottest investment is in the pizza delivery chain.

His wife, Diana Cantor, sits on the board of directors for Domino’s, and the couple has enjoyed a windfall thanks to a surge in the company’s stock that began in 2011. The Cantors’ holdings in Domino’s were worth at least $1.25 million in 2013, an increase of at least $650,000 over the previous year.

Diana, a partner with Alternative Investment Management, also sits on the board for Revlon, Universal Corp., and Media General, Inc., which owns two Virginia television stations.

Cantor’s wealth also rose last year because he paid off a mortgage on a rental property in Arlington, Va., that was worth between $250,001 and $500,000. 

The Cantors still have mortgages for two other “personal residences” in Arlington, Va., near the Capitol and Glen Allen, Va., which is in Cantor’s district. Together the home loans subtract about $750,000 from his overall minimum net wealth.

Although his overall wealth increased last year, Cantor saw a considerable drop in a set of Bank of America accounts, forms show. 

In 2012, there was anywhere from $1 million to $5 million in the accounts. Last year, the value decreased to $250,000 to $500,000.

Cantor holds a scattering of stocks in companies such as Altria Group, Archer-Daniels Midland, Goldman Sachs, Walt Disney Company and Royal Dutch Shell. Diana was also a vice president at Goldman.

It remains to be seen what Cantor will do after leaving Congress in January, but Washington headhunters say he would be welcomed with open arms on K Street if he decides to go into the influence industry.

Former lawmakers are a valuable commodity for law and lobby firms, thanks to their inside knowledge of Congress, and former members of leadership like Cantor are the most prized of all.

The disclose forms filed by Cantor and other lawmakers do not provide a precise measurement of wealth, as lawmakers can report the value of their investments, bank accounts and loans in vast ranges. One category that lawmakers can mark, for instance, ranges from $5 million to $25 million.