Fiorina, Clinton top 2016 rich list
From West Coast multimillionaires to middle-class Midwesterners, the field of declared and expected 2016 presidential candidates is all over the map in terms of private wealth.
The personal finances of White House aspirants have already become a factor in the race, with candidates finding pitfalls in being either too rich or too poor.
Democratic front-runner Hillary Clinton, for instance, has faced criticism for raking in millions of dollars for paid speeches to groups, while Sen. Marco Rubio’s (R-Fla.) meager net worth has raised questions about his personal financial acumen.
Presidential candidates must submit disclosures detailing their finances to the Federal Election Commission (FEC) within 30 days of announcing their candidacy, or on May 15, whichever is later. However, candidates can also file for up to two 45-day extensions on that due date.
Here is a look at how the likely 2016 field shapes up, based on the most recent public documents and personal financial disclosures available.
Minimum net worth was calculated by adding assets and income, and subtracting liabilities. Financial disclosure forms list wealth in vast ranges, which makes it tricky to pinpoint an individual’s exact worth.
Fiorina is worth nearly $59 million, according to a tax form she released last month.
She earned millions during her rocky tenure as the CEO of Hewlett-Packard between 1999 and 2005.
She and her husband, Frank, have a $6.6 million home in Virginia.
The Fiorina campaign said that, in 2012 and 2013, the Fiorinas gave an average of 14 percent of their income to charity.
During her 2010 run for Senate in California, Fiorina spent more than $5 million of her own money for the Republican primary and loaned her campaign another $1 million during the general election. She lost that race to Sen. Barbara Boxer (D-Calif.) by 10 percentage points.
Bill and Hillary Clinton earned about $30 million over the last 16 months, according to financial disclosures filed with election officials in May.
The bulk of the Clintons’ income came from speaking fees, many of which came at more than $200,000 a pop. The Clintons earned $5 million from Hillary’s Hard Choices book deal, and forms also note a bank account that contains between $5 million and $25 million.
Bill Clinton has been under pressure to stop giving paid speeches while his wife runs for president to avoid the appearance of impropriety. He has said if his wife is elected president, he’ll most likely stop giving paid speeches.
Former Gov. Lincoln Chafee (D-R.I.) was worth at least $32 million when he left the Senate in 2007 following an election defeat, according to his Senate filings.
At the time, Chafee had substantial real estate assets, including at least $500,000 in undeveloped land in Maine and a home in New Hampshire worth between $250,000 and $500,000.
The vast majority of Chafee’s wealth is held in family trusts, including one containing more than $7 million, which has been allocated to his grandchildren.
His 2007 financial disclosure forms listed no liabilities.
After leaving Congress, he left the Republican Party, eventually becoming a Democrat.
Chafee also served as governor of Rhode Island and earned more than $129,000 a year.
GOP presidential contender Ben Carson earned between $9 million and $27 million over a 16-month period that ended in May, according to financial disclosure documents obtained by The Wall Street Journal.
He put the Clintons’ break-neck speaking schedule to shame, earning $4 million from 141 paid engagements in that time.
Forms also indicate Carson has built a substantial amount of wealth from lucrative book royalties and seven-figure posts on the advisory boards of Kellogg Co. and Costco Wholesale Corp.
He has two rental properties and a mortgage worth at least $1 million.
The former Republican Florida governor had a net worth of $1.3 million when he left the governor’s mansion in 2007, according to a New York Times analysis.
In the years since, he has forged a thriving private-sector life, including giving paid speeches, doing consulting work, and, at one point, occupying seats on as many as six corporate boards.
According to the 2014 report in the Times, Jeb Bush earned millions in board fees and stock grants from public companies, including $1 million a year from Barclays.
Bush delivered more than 100 speeches following his time as governor, charging about $50,000 per speech, according to the report.
Recently, he served as chairman and manager of several private equity funds, according to Bloomberg.
The Republican New Jersey governor has a minimum net worth of more than $1.6 million, according to personal financial disclosure forms filed this year.
Chris Christie earns $175,000 a year as New Jersey governor. Christie’s wife, Mary Pat Foster, makes more than $500,000 a year working for the investment firm Angelo Gordon & Co., the documents say.
Also in the forms, the couple lists real estate assets in New Jersey worth more than $500,000, and a mortgage worth at least $250,000.
Louisiana Gov. Bobby Jindal (R), a former House member, left Congress in 2007 with a minimum net worth of more than $1.6 million, according to financial disclosure formshe filed with the House at the time.
The state of Louisiana’s financial disclosure forms don’t say much about how that may have changed since, but he earned $186,000 as governor of the state in 2014. The state-level forms are less inclusive than congressional ones.
Former Pennsylvania Sen. Rick Santorum (R) had a minimum net worth of $1.4 million when he ran for president in 2012, according to a personal financial disclosure filed at the time and obtained through the Center for Responsive Politics.
According to his tax returns, Santorum had an adjusted gross income of about $1 million a year in 2007, 2008 and 2009.
In 2010 and 2011, Santorum earned more than $239,000 as a contributor to News Corp. programs and pulled in additional six figure salaries as a political consultant and on corporate boards for several companies.
Santorum had five rental properties across Pennsylvania worth at least $100,000 each.
When Mike Huckabee ran for president in 2008, he reported a minimum net worth of more than $700,000. At the time, he was earning about $74,000 a year, and the Republican governor of Arkansas and had no liabilities.
However, Huckabee’s worth has likely skyrocketed in the years since. He hosted a popular weekend show on Fox News, has written several books, and dabbled in a handful of other business enterprises.
The Arkansas Times reports that in 2010, Huckabee built a $3 million dollar home in Walton County, Florida.
Sen. Ted Cruz (R-Texas) had a net worth of at least $1.3 million in 2013, according to his most recent Senate financial disclosure filing, not including his congressional salary.
However, that figure was likely higher, as it doesn’t include income from his wife, Heidi Cruz, who, at the time, was believed to be pulling in a hefty six-figure salary as a managing director at Goldman Sachs.
Earlier this year, Heidi Cruz took an unpaid leave of absence from that position as her husband launched a presidential bid.
Cruz has requested an extension to provide forms detailing his 2014 financial information.
Former Texas Gov. Rick Perry (R) reported a minimum net worth of $1.3 million when he ran for president in 2012, according to forms obtained from the Center for Responsive Politics.
Bloomberg reported at the time that he was earning a $133,000 salary as governor, as well as an additional $92,000 pension from the state of Texas.
The Ohio governor has kept his net worth close to the vest.
When he first ran for governor in 2010, he released tax returns from 2008 showing he earned more than $1.1 million that year, including $587,175 from his senior post at the now-defunct Lehman Brothers.
Kasich, a Republican, released those tax returns to show he did not receive a “golden parachute” from the failed Wall Street firm. He also took in $165,719 in speaking fees, had $121,922 in investment income and made $265,000 as a commentator for Fox News that year.
Kasich earns about $150,000 a year as governor of Ohio.
Sen. Rand Paul (R-Ky.) had a minimum net worth of at least $625,593 in 2013, according to his most recent Senate filing. That number does not include his Senate salary.
The Kentucky senator has two rental homes, one in Bowling Green, Ky., and one in Destin, Fla., as well as rental properties in Lake Jackson, Texas.
Paul also landed a $40,000 book advance in 2013.
The only debt he carries is a home mortgage worth between $100,000 and $250,000.
Paul has requested an extension to provide forms detailing his 2014 financial information.
Vermont Sen. Bernie Sanders (I) had a minimum net worth of $175,786 in 2014, according to personal financial forms filed with the Senate.
In addition to that wealth, Sanders earns $174,000 a year as a senator.
He donated the speaking fees he accumulated last year, totaling less than $2,000, to charity.
Sanders is seeking the Democratic presidential nomination.
The Republican senator from South Carolina is one of the least wealthy members of the Senate, with a minimum net worth of just more than $86,000, according to financial disclosure forms filed with the Senate. However, that total excludes his six-figure Senate salary.
Sen. Marco Rubio’s (R-Fla.) finances have drawn scrutiny recently after The New York Times ran a story questioning his ability to manage his own money.
In 2014, he listed having a minimum net worth of about $18,000, before accounting for his Senate salary.
He and his wife had a joint bank account with between $100,000 and $250,000, but their wealth was offset by two mortgages and a home equity line of credit.
The Rubios have shed one of those mortgages. Last week, the Florida Republican sold a house he bought with embattled former Rep. David Rivera (R-Fla.), taking about a $17,000 loss on the property. At one point, the house was briefly in foreclosure.
Last month, Rubio said he liquidated a $68,000 retirement account to pay for household expenses ahead of his White House bid.
A spokesman for Rubio said he once had more than $150,000 in student loan debt but has paid that off. He said the Rubios have created college savings accounts for each of their four children, who attend private Christian schools in Miami.
In addition, the Florida senator has donated close to $150,000 to charity over the last few years, according to his campaign.
The Boston Globe has estimated Gov. Scott Walker’s (R) worth at negative $72,000.
Walker owed between $10,000 and $100,000 on two credit cards, according to his most recent financial disclosures.
According to Walker’s campaign, his expenses include two children in college, a mortgage, car payments, and he supports his parents, who live at his home.
On the campaign trail, he highlights how his family clips coupons and how he buys clothes from discount retailer Kohl’s.
Walker earns more than $144,000 a year as governor of Wisconsin.
There are no public financial disclosure forms available for the former New York Gov. George Pataki (R), but he earns more than $100,000 a year from his state pension.
The state of Maryland does not release financial records for public officials online, and a request to former Gov. Martin O’Malley’s (D-Md.) campaign has not been returned.