McCain family wealth mostly in wife’s name

2008-08-21

The Associated Press

Republican presidential candidate John McCain said he wasn’t sure how many houses he and his wife own. Here is a rundown of the wealth of the Arizona Republican senator and his wife, Cindy. Most assets are in Mrs. McCain’s name.

HOMES
Property records reviewed by The Associated Press show McCain and his family own at least eight homes: A ranch and two condos in Arizona; three condos in Coronado, Calif.; a condo in La Jolla, Calif.; and another in Arlington, Va. The number of houses is a bit trickier to determine since the ranch has at least four houses and a two-story cabin.
BEER EARNINGS
Cindy McCain is heiress to her father’s stake — and serves as chairwoman — of a family owned Anheuser-Busch distributor in Phoenix, Hensley & Co. Beverage industry analysts estimate Hensley’s value at more than $250 million and its annual sales at $300 million or more.
OTHER ASSETS
Cindy and her children own a minority stake in the Arizona Diamondbacks. The professional baseball team’s chief executive, Jeff Moorad, and former majority owner Jerry Colangelo are McCain fundraisers.
Assets held by Cindy McCain alone or with her children also include Anheuser-Busch stock; two condominiums along the California coast worth a total of at least $3 million and Arizona investments in rental medical offices and a parking lot, according to property records and John McCain’s latest financial disclosure reports.
PERKS
Mrs. McCain’s beer earnings afforded the senator the use of a private jet and vacation homes.
FINANCIAL REPORTING
Sen. McCain reports little more wealth than when he started in politics. With his book royalties and radio-appearance fees donated to charity, McCain’s Senate salary of $169,300 and Navy pension of about $56,000 are his only significant sources of income.
AVOIDING CONFLICTS
McCain has long said he refrains from voting on beer industry-specific issues.
Copyright 2008 The Associated Press. All rights reserved.