From: Mark Keesee <[EMAIL PROTECTED]>
HoustonChronicle
July 02, 1999, 09:41 p.m.
Bush reveals true picture of wealth
Presidential hopeful is worth millions
WASHINGTON (AP) -- Republican presidential front-runner
George W. Bush gave Americans a more detailed picture of
his wealth Friday, disclosing that he owns more than $7
million in U.S. Treasury notes and a blind trust worth more
than $1 million.
The son of former President Bush also reported that he has
two money market accounts with a total value of between
$600,000 and $1.25 million, three checking accounts with a
total value of between $3,000 and $45,000, and no debts.
And he received the first half of a $250,000 advance for a
campaign biography he is writing with Houston Chronicle
sports columnist Mickey Herskowitz. Bush's initial share,
after commission, was $106,250, which he is donating to
four youth charities.
Bush, who is paid $97,890 as governor of Texas, reported on
his federal income tax return in April that he and his
wife, Laura, had $18 million in income and paid $3.7
million in taxes in 1998.
Included in that total was the $14.9 million he received
when the Texas Rangers baseball team was sold. Bush
initially paid $606,302 for his share of the club.
Bush still has a share of the partnership that owned the
team, valued at between $1 million and $5 million. When the
partnership finally is dissolved, Bush is expected to
receive an additional $1 million to $2 million.
The governor also earned capital-gains income of between
$100,000 and $1 million from the sale of real estate
investments, capital-gains income of $100,000 to $1 million
from Advance Paradigm stock and capital-gains income of
between $50,000 and $100,000 from the sale of investments
in oil and gas.
He reported his largest asset was his investment in U.S.
Treasury notes, which he valued at between $7.2 million and
$14 million. He reported those notes alone earned him
between $351,000 and $1.2 million in 1998.
© Copyright 1999, Houston Chronicle. All rights reserved.
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