Political Portfolios
By Bob Frick, Senior Editor
From Kiplinger's Personal Finance magazine, January 2008
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RUDOLPH GIULIANI
NET WORTH: $18 million to $70 million
PORTFOLIO: Security and legal firms, conservative funds.
Speechifying has also enriched Republican front-runner Rudolph Giuliani. In 2006, the former mayor of New York City earned $11.4 million making speeches, usually at $100,000 a pop. One plus of not currently holding office is being able to take these lucrative gigs.
His other main source of income is security consulting. Giuliani, who became known worldwide for his leadership after 9/11, has made security the central theme of his campaign. He also has spawned a mini security industry under the umbrella of Giuliani & Co. LLC. That company has interests in a half-dozen Giuliani-named security-consulting companies and in a biohazard firm, Bio-ONE. Those companies generated $4.1 million for Giuliani in 2006.
The FEC report pegged Giuliani's income last year at $16.8 million, with the remaining money coming from his investments, book royalties and a partnership in a law firm, Bracewell & Giuliani. All told, he's worth somewhere between $18 million and $70 million.
Like the Clintons, Giuliani has enjoyed a windfall because of the fame engendered by years in the public eye. When Bill Clinton left office as Arkansas governor, his salary was $35,000 a year, and Hillary's controversial $100,000 profit from commodities trading was real money to them. When Giuliani left office as New York City's mayor in 2002, he had less than $2 million in assets.
When it comes to his investments, Giuliani is conservative, favoring cash and mutual funds. Psst, Rudy: Cash out the $500,000-plus in Old Westbury mutual funds -- they're poor performers.
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