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Heinz Kerry's family fortune worth estimated $1 billion
Los Angeles Times ^ | June 27, 2004 | Ralph Vartabedian

Posted on 06/27/2004 4:09:31 AM PDT by Liz

Teresa Heinz Kerry, through a network of investments in blue-chip corporations, venture capital funds and municipal bonds, controls a family fortune worth an estimated $1 billion, an analysis of public records shows.

The $1 billion figure is double the estimates of her wealth that are widely cited in news stories about her husband, Sen. John F. Kerry, the presumptive Democratic nominee for president.

The couple would rank as the wealthiest to occupy the White House, far surpassing such storied presidential fortunes as the Kennedys'. Their assets are so vast and far-reaching that they mirror the U.S. economy and will probably raise questions about conflicts of interest.

"She represents a new ballgame in terms of her wealth and in terms of the wealth she controls," said Kevin Phillips, a political commentator and author of the history "Wealth and Democracy."

Heinz Kerry's investments, worth an estimated $500 million in 1995, have grown over the past nine years to $1 billion or more, even accounting for large living expenses and charitable contributions, according to an analysis of Securities and Exchange Commission filings, Senate financial disclosure reports, probate documents and other public records.

Because key details of Heinz Kerry's investments are not in the public record, a precise valuation is not possible. The Los Angeles Times' analysis produced estimates as low as $900 million and as high as $3.2 billion. Three senior executives at investment companies that handle accounts for wealthy clients reviewed the Times' study and said the $1 billion valuation was a fair and conservative estimate.

--SNIP--

(Excerpt) Read more at startribune.com ...


TOPICS: Extended News; Politics/Elections
KEYWORDS: billionaire; billionaires; botox; democrat; demoncrat; dimmocrat; dumbocrat; election; forsalebyowner; fsbo; gigolo; heinz; kerry; ketchup; millionaire; monopoly; politician; politicianforsale; politics; richsnob; shelookslikeamillion; teresa; teresaheinz; wealth; wealthy
The couple would rank as the wealthiest to occupy the White House, far surpassing such storied presidential fortunes as the Kennedys'. Their assets are so vast and far-reaching that they mirror the U.S. economy and will probably raise questions about conflicts of interest.

That's a good start, though.

1 posted on 06/27/2004 4:09:32 AM PDT by Liz
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To: Liz

Used to be 500 million.


2 posted on 06/27/2004 4:13:24 AM PDT by hang 'em (Marxism, Hitlerism, Mohammadism... two down, one to go.)
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To: hang 'em

By the way, I'm for sale too. I can snow board, kite ski, surf, all that macho stuff, etc. PhD in Physics from U.C. Berkeley. Any rich conservative babes out there? I'm your guy! I'm working on my gigilo skills. Probably the best around, and not bragging. Love to talk. etc.


3 posted on 06/27/2004 4:21:01 AM PDT by hang 'em (Marxism, Hitlerism, Mohammadism... two down, one to go.)
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To: Liz

See, this is why Kerry knows the problems of the common folk. He's a po' workin' man! (/sarcasm)


4 posted on 06/27/2004 4:33:56 AM PDT by neutrino (Against stupidity the very Gods themselves contend in vain.)
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To: Liz

Can't wait to see that tax info....


5 posted on 06/27/2004 4:35:49 AM PDT by mewzilla
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To: neutrino

But--but--but , he is just s regular guy. Why does he take his Senate pay fraudulently if he has all this money?


6 posted on 06/27/2004 4:35:57 AM PDT by sgtbono2002 (I aint wrong, I aint sorry , and I am probably going to do it again.)
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To: hang 'em

We don't know the actual amt----she won't release her tax records----- even if she does, won't be the whole picture.


7 posted on 06/27/2004 4:38:12 AM PDT by Liz
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To: Liz

More proof that America is in the worst depression in it's history.


8 posted on 06/27/2004 4:41:54 AM PDT by Hillary's Lovely Legs (I am trying to stop an outbreak here and you're driving the monkey to the airport.)
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To: sgtbono2002
Why does he take his Senate pay fraudulently if he has all this money?

Umm...saving up so he can take some night school classes and get honest work? Nahhh...

9 posted on 06/27/2004 4:44:12 AM PDT by neutrino (Against stupidity the very Gods themselves contend in vain.)
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To: Liz
http://www.foxnews.com/story/0,2933,119651,00.html

Heinz Kerry Releases Personal Tax Info

Wednesday, May 12, 2004

LOUISVILLE, Ky. — Teresa Heinz Kerry (search) may be the richest potential first lady ever to hit the campaign trail, having earned more than $5 million in taxable and non-taxable income last year.

The campaign of her husband, Massachusetts Sen. John Kerry (search), released Heinz Kerry's personal tax information on Tuesday, after revealing that she received an extension to file her 2003 federal income tax return.

Heinz Kerry, who files her returns separately from her husband, said she will make available the first two pages of her 1040 when it's filed in October.

Of the $5.115 million in income, about $2.3 million of dividend and interest income was taxable while another $2.7 million came from tax-exempt state, municipal and other public entity bonds.

Heinz Kerry paid $750,000 toward her 2003 federal, state and local income tax liability at the time of the extension filing, or about 32 percent of her gross taxable income.

Of that sum, $587,000 is estimated for federal income taxes; $162,777 is estimated for state and local income taxes, and Heinz Kerry paid an additional $280,000 towards expected 2003 and 2004 federal tax liability.

Heinz Kerry had resisted releasing her tax filings, saying most of her income is in trust funds with her children's names on them and it would be unfair to them to reveal their wealth.

"While I am not a candidate for any public office, a great deal of my financial information has been disclosed for many years on my husband's Senate Ethics Disclosure, and now that he is a presidential candidate, with the Office of Government Ethics," she said. "John and I believe this strikes a balance between my family's privacy and the media's requests for more financial information."

Kerry, who mortgaged their Boston townhome to keep him in the Democratic primary race last winter, paid $90,575 in federal taxes on $395,338 in adjusted gross income last year, according to copies of his federal returns released last month by his presidential campaign.

Heinz Kerry's exact wealth is not known, but has been estimated to be upwards of $500 million. She is the heiress of the Heinz Co. fortune, and runs the Heinz Family Foundation (search), which distributed $4.6 million in charitable contributions last year. Heinz Kerry runs the non-profit corporation, which she and her late husband, Pennsylvania Republican Sen. John Heinz, created before his death in 1991.

Heinz Kerry also is chairman of the Howard Heinz Endowment and a board member on the Vira I. Heinz Endowment, both were established by earlier generations of the Heinz family and make significant annual charitable grants. She does not have any managerial or other role with the H. J. Heinz Company or its company-directed foundation.

Fox News' Sharon Kehnemui and Catherine Loper contributed to this report.

10 posted on 06/27/2004 5:01:02 AM PDT by True Capitalist
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To: True Capitalist
Noteworthy is that Heinz only paid a federal tax rate of 11.5% ($587,000 / $5.115 Million of income). Also, why does she have reportable income of only 1/2 of a percentage of her net-worth ($5.115 Million / $1 Billion)?

Either she is getting an extremely bad return on her investments or she's invested in one of those tax shelters that enables her not to report all of her taxable income. Even if she discloses the first two pages of her return, these wouldn't disclose income that she's not reporting under a shady tax shelter.

11 posted on 06/27/2004 5:11:06 AM PDT by True Capitalist
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To: Liz

Tsk, tsk...class envy.


12 posted on 06/27/2004 5:15:27 AM PDT by Wolfie
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To: Liz

Kerry: " It's the family's money, not mine. "


13 posted on 06/27/2004 6:29:53 AM PDT by AngrySpud (Behold, I am The Anti-Crust ... Anti-Hillary)
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To: AngrySpud

Heheh........Bush needs to get that in an ad.


14 posted on 06/27/2004 7:29:09 AM PDT by Liz
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To: Liz; Willie Green

There is nothing wrong with being rich and running for president. I admire rich people. Rich people have gotten rich by doing something a lot of other people have found to be valuable and were willing to pay them for it. Rich people are the best. It is time for even more tax cuts for rich people. Being a healthy poor person should be a sin.

Having said that, if you look at Kerry's 20 years in the Senate, he has done nothing except marry a dead republican senator's billionaire wife. He should not be president.


15 posted on 06/27/2004 7:31:48 AM PDT by staytrue
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To: AngrySpud

Kerry: " I was poor until I was rich. "


16 posted on 06/27/2004 7:32:24 AM PDT by reg45
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To: Liz
You want to be the richest most powerful man in the world. If you want to raise my taxes let's see yours just like W showed his records. Or do only the little people pay taxes in Yaaaaawn Tax & Kerry's world???

Pray for W and Our Troops

17 posted on 06/27/2004 7:33:37 AM PDT by bray (Let's win one more for the Gipper)
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To: reg45

There is no way he can represent or have an interest in the middle class people. He is completely out of touch.


18 posted on 06/27/2004 7:35:32 AM PDT by television is just wrong
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To: hang 'em

Let's boycott all heinz products.


19 posted on 06/27/2004 7:36:03 AM PDT by television is just wrong
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To: staytrue
Rich people have gotten rich by doing something a lot of other people have found to be valuable and were willing to pay them for it

God created rich people in His own image as divine role models.
They are benevolent and compassionate beings who provide us with the air that we breath.
Poor people pollute that air with their musty body odors.
They should not be permitted inside the gates of heaven.

20 posted on 06/27/2004 8:03:04 AM PDT by Willie Green (Go Pat Go!!!)
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To: Liz

Maybe she's paying people to rate her a 10 here:

http://scoreboards.hotornot.com/2004electionwives

Guys, we can get her number back down to reality, but be sure to vote kindly for the lovely Laura Bush while you are there.


21 posted on 06/27/2004 9:42:08 AM PDT by sharktrager (George Clooney has rubber nipples.)
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To: True Capitalist
Heinz Kerry paid $750,000 toward her 2003 federal, state and local income tax liability at the time of the extension filing, or about 32 percent of her gross taxable income.

So, Heinz Kerry paid 0.075% of her total wealth in taxes.

0.075%

One seventy five thousanths of one percent.

That is equivalent to paying less than eight cents:

on the wealth of one hundred dollars:

Hey, Kerry!

You want to "Tax The Rich"?

Then propose a Wealth Tax of 5% a year on all inherited wealth over $50 million.

That would make your wife's 2003 tax bill $50 million and she would still have $950 million left over.

22 posted on 06/27/2004 10:10:31 AM PDT by Polybius
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To: mewzilla

Can't wait to see that tax info....



It'll be published at about the same time as the details of the blind trust.


23 posted on 06/27/2004 10:33:01 AM PDT by bert (Don't Panic !)
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Estimate of Heinz Fortune Doubled Bay lawmakers among wealthiest -Feinstein and Pelosi continue to top the list

Democrats, party of the little people

24 posted on 06/27/2004 1:45:31 PM PDT by KneelBeforeZod (Deus Lo Volt!)
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Bay lawmakers among wealthiest -Feinstein and Pelosi continue to top the list

oopsie

25 posted on 06/27/2004 1:46:48 PM PDT by KneelBeforeZod (Deus Lo Volt!)
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Teresa on the Stump, Teresa Heinz Kerry, from Mozambique, PRO-ABORTION Catholic, UN Employee, etc.

Teresa Heinz Kerry, Drummond Pike and the Communist TIDES FOUNDATION

Kerry, Candidate and Catholic, Creates Uneasiness for Church

A Primer on Canon 915 Can. 915 Those upon whom the penalty of excommunication or interdict has been imposed or declared, and others who obstinately persist in manifest grave sin, are not to be admitted to holy communion

Excommunicate Kerry Website

Catholics Against Kerry

1400 Ecclesial communities derived from the Reformation and separated from the Catholic Church, "have not preserved the proper reality of the Eucharistic mystery in its fullness, especially because of the absence of the sacrament of Holy Orders."236 It is for this reason that Eucharistic intercommunion with these communities is not possible for the Catholic Church. However these ecclesial communities, "when they commemorate the Lord's death and resurrection in the Holy Supper . . . profess that it signifies life in communion with Christ and await his coming in glory."237

Can.  844 §1. Catholic ministers administer the sacraments licitly to Catholic members of the Christian faithful alone, who likewise receive them licitly from Catholic ministers alone, without prejudice to the prescripts of §§2, 3, and 4 of this canon, and ⇒ can. 861, §2.

The Bible and homosexuality [Kerry thinks the bible is for homosexuality]

Kerry’s Dirty Deeds (How, pray tell, do they comport with religious belief

Vatican Worries About Kerry

John Kerry and Unborn Victims

Catholic Pro-Abortion, Pro-Homosexual

Catholic and 100% Pro Abortion

Catholics Kerry and Kennedy have a 100% Pro-homosexual Record with the Human Rights Campaign! Page 10,11

26 posted on 06/27/2004 9:21:08 PM PDT by Coleus (Roe v. Wade and Endangered Species Act both passed in 1973, Murder Babies/save trees, birds, algae)
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To: Liz

27 posted on 06/29/2004 12:48:51 PM PDT by New Perspective (Proud father of a 6 month old son with Down Syndrome)
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To: New Perspective

Enough money to have a vice grip put on the plane fuel line.


28 posted on 06/29/2004 12:50:19 PM PDT by bmwcyle (<a href="http://www.johnkerry.com/" target="_blank">miserable failure)
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