The Associated Press
The Associated Press
Most of Arizona Sen. John McCain’s personal assets are simple – but his wife Cindy owns stock and property worth millions of dollars, according to new financial disclosure reports.
Compared to some of his wealthy peers, Arizona’s junior Sen. Jon Kyl’s assets are fairly modest, held primarily in investment accounts, the reports show.
The information about lawmakers’ assets, gifts received and privately funded travel in 2005 were filed in May and made public Wednesday.
It is difficult to assess either Republican senator’s net worth from the reports, which chart assets in broad ranges.
McCain, a Vietnam war veteran, earns a Navy pension in addition to his Senate salary. He donated to charity a speaking honorarium and proceeds from book deals. But millions of dollars in other family assets are held by his wife, Cindy, and their children. They include Sedona-area properties and stock in Cindy McCain’s family’s company, Hensley & Co., a Phoenix beer distribution company started by her father.
Kyl’s financial holdings total about $800,000 at most, excluding his two Arizona homes and a D.C.-area apartment, the reports show.
Personal wealth has become an issue in Kyl’s re-election bid. He faces a competitive race against wealthy real-estate developer Jim Pederson, a Democrat worth between $26 million and $119 million, according to a disclosure report he filed earlier this year. Pederson has already put $3.2 million of his own money into his campaign.
ARIZONA SENATORS
Sen. John S. McCain III
R-Ariz., chairman, Senate Committee on Indian Affairs.
Earned income: $162,100.
Honoraria, all donated to charity: $16,500.
Major assets: Wachovia Bank account, $15,001-$50,000
Major sources of unearned income: None.
Major liabilities: None.
Gifts: A Gibson guitar plaque from Rock the Vote worth $1,898.
Narrative: McCain has several book agreements with Random House Publishing and a 2004 development agreement with A&E Television Networks to produce a movie based on his book, “Faith of My Fathers.” Payments for both are described as “customary in trade.”
A prisoner of war during Vietnam, McCain receives a Navy pension of $54,276. The Broadcast Group of Palm Springs, Calif., gave him an honorarium of $16,500 for weekly radio commentaries. The payment was donated to charity. McCain also donated to charity $255,000 earned on book royalties and book signings.
McCain accepted lodging and a plane ticket to London, England, for a speaking engagement from Nov. 28-Dec. 1, 2005, paid for by the Blackstone Group.
McCain’s wife, Cindy, and their children own most of the assets listed in the disclosure report. The assets include several Sedona properties, including a home valued at more than $1 million, and two tracts of land and a guest house each worth between $500,001 and $1 million.
Several assets held by Cindy McCain and the children are worth more than $1 million, including Anheuser-Busch common stock and stock in Hensley & Co.Cindy McCain’s liabilities include five credit-card debts. She owes $100,001-$250,000 to American Express and $15,001-$50,000 on two others.
Sen. Jon L. Kyl
R-Ariz.
Earned income: $162,100.
Honoraria, all donated to charity: None.
Major assets: Investment funds, including three retirement accounts each valued at about $160,500.
Major sources of unearned income: A working interest in two oil and gas wells. One generated $1,001-$2,500, and the other brought in $201-$1,000.
Major liabilities: None.
Gifts: None.
Narrative: Most of Kyl’s assets are in retirement and investment accounts. He also reported four checking and savings bank accounts, each worth $1,001-$15,000.
- The Associated Press