Skip to comments.The Ten Investments That Made Paul Ryan A Millionaire
Posted on 09/02/2012 5:35:43 PM PDT by SeekAndFind
Thanks to the personal finance disclosure that members of congress are required to submit and the folks at the Center for Responsive Politics who maintain a database of the documents we were able to look into the investment decisions of Wisconsin Congressman Paul Ryan, who as of last week, is now the official Republican vice presidential nominee.
According to the documents, Ryan has benefited from a number of trusts and inheritances that make up most of his wealth, but his investments over the years have cemented his net worth somwhere between $927,000 and $3.2 million.
A brief stint as a landlord made Ryan some early cash.
We think that this is one of the rental properties Ryan bought.
As a freshman representative, Ryan bought three rental properties in his hometown of Janesville, Wisc., in Feb. 1998 He paid between $100,000 and $250,000 for the properties, financing them with a mortgage from Anchorbank SSB.
He collected between $15,000 and $50,000 per year in rent from tenants, and in 2000 bought a fourth rental property. By that point the properties were worth $250,000 and $500,000.
He flipped the real estate in 2001.
Ryan Limited Partnership, an investment group, has made Ryan a lot of money.
Ryan owned a 21.37% stake in RLP well before he joined Congress, and the asset has grown from a worth of $45,358 in 1998 to somewhere between $100,000 and $250,000 in 2011.
That partnership has diversified its portfolio over the years, and has made a brisk trade in stocks and mutual funds. Dividends alone were worth $5,000 to $15,000 last year, although they were higher prior to the recession. Current RLP assets include Altria Group, Amazon.com, Apple, Google, McDonald's, Philip Morris, Starbucks and Visa.
(Excerpt) Read more at businessinsider.com ...
Not mentioned: How is Obama able to afford to be looking at a $35 million beach house in Hawaii?
Paid for by “Millionaires & Billionaires” of course.
Why, he sold his soul, of course.
They are out for Ryan’s scalp. He must really scare the snot outta em.
Thou shalt not covet.
He knew how to invest his own money? Let’s hire him!
Yep. This is noise, but Bammers Hawaii palace may get some legs.
So, Ryan built his wealth in small increments, in manners we can all relate to and respect. If he and his wife received inheritances, let’s recall zer0 got $500k from Grandma.
I just want to throw this out there for discussion: does anybody else think that the folks at BI are a bunch of leftards?
Was I supposed to have a different reaction, Mr. Do Hickey?
On September 18, 2008, for example, Ryan attended a meeting with fellow Kleptocrats Hank Paulson (ex-Goldman CEO) and Ben Bernanke. The same day, Ryan dumped shares of Citi, GE, and Wachovia in exchange for shares of... Goldman Sachs.
RE: The same day, Ryan dumped shares of Citi, GE, and Wachovia in exchange for shares of... Goldman Sachs.
Any evidence of that? That’s insider trading right there and Obama could make hat out of this... so what doesn’t he?
Every President, Congressman and Senator should provide a detailed financial summary of their investments, net worth, income, gains from their coronation on, and for every subsequent year, and keep it updated in real time on the web.
Too many of them come into Congress with modest assets and yet leave quite wealthy. How does that work? I don’t care what letter they have after their name (R/D), they need to disclose it all and continue disclosing it for 5 years after they leave Congress.
Full transparency should be the price for having power over the people and inside information, and if they are found guilty of abusing or illegally using it, they need to lose it all including pensions and benefits.
I don’t know, but who can argue with the facts. Seems they were detailed in the disclosures. Instead of being spoon feed information from your favorite media go for the facts regardless of source.
Have we come to a point where becoming a millionaire is now considered bad in America?
Are millionaires now considered guilty of doing something illegal by default?
What’s happened to this country?
Seems this site has done some looking into the claim. Good Read.
Well, if as that site mentions, there is good evidence for insider trading, THAT WILL BE AN OBAMA CAMPAIGN ISSUE.
In fact, if this is true, there should be grounds for prosecution and maybe even jail time.
For that matter, we should investigate every single stock transaction of every member of congress.
I’m not defending anyone, but I seem to remember hearing something to the effect that it’s legal for congress critters to act on insider info. That’s how all these jerks arrive with little and retire multimillionaires. Supposedly they passed a law making it legal for themselves. Hope I’m wrong, because that’s just more evidence of how scummy they are.
Hey, better late than never.
Good for Paul Ryan. Sounds like he knows what he is doing. As has been stated prior—Empty Chair couldn’t run a lemonade stand.
The founder of BI is a big Obama bun dler. Business Insider should be renamed Crony Capitalist Insider.
The founder of BI is a big Obama bundler. Business Insider should be renamed Crony Capitalist Insider.
Actually I like Millionaires! Never been employed by someone broke. Good Grief... how can you put halo on someone that been a career politician his whole life. I am not against Paul Ryan but at the same time I will not consider him angel to only be disappointed later. Seems the Democrats have learned their lesson on Bamy
RE: Good for Paul Ryan. Sounds like he knows what he is doing.
Some people are now accusing him of using privileged information as Congressman (discussing the financial crisis with Hank Paulson and Bernanke) to dump stocks at the right time.
Did you bother to investigate your “source” for this Ryan smear job?
The are a FAR Leftwing Democrat propaganda outfit. You might as well get your “information” from the Obama campaign as believe this utter nonsense about Ryan
1. I never covet money from those who get it honestly through business, but my antenna goes up and I want to know exactly how politicians make lots of money, when they have the inside scoop and can do favors for others at the expense of taxpayers.
2. Ryan made money off of rent which is fine as long as it was not government subsidized in any way such as Section 8. Any politician that makes his money being subsidized by government or as a Section 8 landlord while pretending to be a conservative, would never get my vote. Every dime the government pays out, whether it be welfare, subsidies, Section 8 to renters and landlords, etc should be completely public information, but instead the pols keep us in the dark so they and their pals can profit.
Did you bother to LOOK at the source for this Ryan smear? It the Occupy Wall Street far far Left fringe wack job crowd.
Might as well be posting Obama campaign literature as cite these clowns as a credible news source.
No one needs to dig for dirt on Bamy. His disappointments are clear for all to see.
I did not think the BI article was one sided. Can you point to any mistakes or errors in the article.
It is not the article that is the problem, it’s the accusations made against Paul Ryan in the COMMENTS SECTION below the article that’s the problem.
Yes, the article is an invitation from an apparently unbiased source for conjecture. Its a set up.
OK, work with facts.
1. Paulson meet with Ryan on Sept 18, 2008.
2. Ryan disclosed on Sept 18, 2008 he sold stock in Wachovia, Citibank and GE.
Paulson meeting was after market closed but one can transact stock sales in after hours and still be sold that day. Interesting Ryan disclosure date is Sept 18, 2008 and not Sept 19.
Can you tell me what is not accurate.
Your sort of “conservative” is the useful idiot of the Democrat Party propaganda machine. What ever they tell you to think, you mindlessly regurgitate.
You “sources” have a far leftist political agenda and are lying to you, quit being their useful fool.
This is nothing compared to John Kerry’s gigolo income.
I do believe its legal for members of Congress to be privy to insider trading. How else did any of them become so wealthy on such small wages?
I’m not sure, but I think they also voted to discontinue this. I don’t have a link or facts, so its pure speculation on my part at this point.
He sold financial stocks on September 18, 2008 the same day he met with Hank Paulson. Have you read Paul Ryans very own disclosure.
Forget BI, Forget Obama, Forget Democratic Party because it is always brought up when facts get in the way although I normally seen that with Liberals.
So are you a fool or a fraud?
Insider trading was made illegal for Congress critters in April of this year.
OK ....I will take the Fool with Facts for 100.
Thank you for proving my point about your rabid idiocy.
When are you going to try thinking for yourself instead of letting Leftist propaganda bots lead you around by your nose?
I just found out you are known as MNJohnnie - ‘Roars like lion’.
Dang next time I won’t tangle with you. But seriously you say the disclosures are false. Can you PLEASE show me how Paul Ryan disclosure is false or is some super duper secret decoder code needed.
Please, pry open your weld shut mind finally.
Your accusations about Ryan are lies. They have utterly no base in fact. They are disinformation fed you by Democrat political operatives. They are no different then the 2004 Bush National Guard story or any of several hundred bit of disinformation put out by the Democrats during every election season the last 40 years.
This is SOP for the Democrat propaganda machine. You should be smart enough to spot this NOT be so willing to be a shrill and hysteric chicken little and regurgitate every lie they spin at you.
If you want to believe the Leftist liars, fine, but spare us the hysteric fiction that you are anything but a mindless Democrat propaganda bot.
YOUR SOURCE IS A LIAR WORKING FOR THE DEMOCRAT PARTY.
Will you try to pry open your welded shut mind and smell what you are shoveling?
Are you really this politically stupid? Taking BI seriously is akin to tuning into Radio Berlin in 1942 to find out how the Allies war effort was going
I turned $30,000 into $450,000 between 1998 and 2007. Then I lost 90% of it in the crash.
My comments were not accusations they were direct from Paul Ryan public disclosures. I even pointed to the link and you still deny deny deny. Say I agree with you that Paul Ryan financial disclosure are pure non-sense. Can you state how you get this information. Now this is going to be real interesting.
Again instead of mindlessly clinging to your emotion based opinions, pry open you welded shut mind and realize you are being played for a total fool by the Democrat Propaganda machine.
YOUR SOURCE IS LYING TO YOU FOR POLITICAL GAIN. The story is a complete fabrication, made up lie.
Quit being a useful idiot of the Democrat propaganda machine.
.......They worry too much about other people’s money................
But, but, Ryan had a black girl-friend in high school and college.
Surely, some of these Ryan investments should accrue to her, during that common time frame.
Poor girl: she was so destitute because Ryan didn’t support her, that she had to commit a $77,000 theft felony, many years later.
Now, is that Ryan’s fault; or Romney’s fault; but certainly Bush’s fault!!!
RE: I turned $30,000 into $450,000 between 1998 and 2007. Then I lost 90% of it in the crash.
You’re amazing, your investments did not crash in the 2000 DOT COM BUST but crashed in the mortgage crisis?
Well, the Dow and S&P have gone back up since 2008, have you recovered some?
good post seek! it’s getting scary, i recently had a conversation from a long time customer whom insisted the rich have brought this Country down, i see class warfare coming in the future, another South Africa, the bamster has become another Mandela.