Author`s name Olga Savka

George W. Bush Has Many Millionaires To Help Him

Senior American officials volunteer to expose their sources of income

The information about the income and the property of almost all leading advisors and assistants in the George W. Bush's administration has recently been made public. They all are millionaires, except for National Security Advisor Condoleezza Rice, who has not evaluated her fortune yet.

The American president reported his income in May. Bush evaluated his family's fortune in the sum of up to $21.9 million as of the end of the past year. Vice President Dick Cheney's wealth is estimated at anywhere from $19.1 million to $86.4 million.

The newspaper Kommersant wrote, Condoleezza Rice was the only person in the Bush's administration, who has not released information concering her personal finances. The richest among this group is well-known economist Stephen Friedman, top economic adviser to the US president, head of the National Economic Council. He listed more than $50 million in the Goldman Sachs Financial Square Federal Fund. The investment earned Friedman very income income in 2002 - between $100,001 and $1 million. In addition to it, Friedman earned $10 million, when he had sold Mosaic Group Stock and Insight Capital Partners holding.

Lewis Libby, assistant to the president and chief of staff to Vice President Dick Cheney, is ranked second among his peers. Lewis Libby owns municipal bonds worth between $1 million and $5 million. The bonds earned up to $1 million to Mr. Libby in 2002. The assistant to the president also owns up to $5 million in a money market fund.

White House political adviser Karl Rove is on the third position. He owns two small hotels in Texas, up to $1 million worth. In 2002, Mr. Rove's hotels returned the profit between $50,000 to $100,000. In addition to it, Rove listed the investment between $700,000 and $1.6 million.

Incoming budget director, Joshua Bolten is on the bottom of the list of George W. Bush's assistants and advisers. He valued his Key West vacation home at $500,001 to $1 million. Bolten earned between $15,001 and $50,000 in rent, with a mortgage of $250,001 to $500,000. He disclosed two investment funds with the same value range as the vacation property.

Senior American officials present the information about their income every year, although on a voluntary basis.


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