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Dick Cheney is five times richer than his boss Bush

16.05.2007
 
Dick Cheney is five times richer than his boss Bush

In financial disclosure reports for 2006, President Bush put his assets at between $7.5-20 million, while Cheney estimated his net worth five times higher at $21-100 million. Cheney was also given more expensive gifts than Bush with an approximate value of $21,764 against Bush's $12,354.

Mr Bush's assets included his 650ha ranch in Texas, valued at $US1m to $US5m, where he usually spends his holidays.

He also reported assets of $US775,689 from a limited liability company organised in 2003 to produce trees for commercial sales, which were expected in 2007.

Among his holdings were certificates of deposit, Treasury notes, a qualified diversified trust, and $US116,000 assets of the GWB Rangers Corporation, which is wholly owned by Mr Bush from when he was co-owner of the Texas Rangers baseball team.

Mr Cheney reported assets valued at $US21m to around $US100m.

Mr Cheney gained much of his wealth from his former role heading oil service firm Halliburton.

Mr Cheney's largest holdings included investments in an American Century Investments International Bond Fund and a Vanguard short-term tax-exempt fund. He has 100,000 Halliburton stock options that are unexercised and designated for charity.

The financial disclosure statements give the value of assets only in ranges.

Mr. Bush reported gifts totalling $US12,364 last year, including three separate sets of fishing equipment, news.com.au reports.

President Bush loves fishing, so people aiming to impress him often go that direction. Last year alone, he was given three rods and three reels along with assorted other equipment to the tune of more than $2,600. That's in addition to at least eight other rods he's received as gifts during his presidency.

On the other hand, Bush is only an occasional golfer. But that didn't stop his friend and 2004 campaign finance chairman, Mercer Reynolds, from giving the president a $915 set of new clubs and covers last year.
Bush cleaned up in 2006 as usual.

He received at least 20 gifts worth a total of $12,364, according to the financial disclosure forms the president and vice president are required by law to file each year. The reports, made public Tuesday, give a broad picture of officials' wealth _ listing assets, non-governmental income, transactions and financial arrangements as well as gifts in an attempt to provide some transparency about potential conflicts of interest.

There is no limit on the size of gifts a president or vice president can receive from a U.S. citizen. But they must report those valued at $305 or more _ as well as multiple presents over $100 from the same giver, if their cumulative total exceeds $305.

Bush's take might look familiar to many men: a pile of ties, shirts and socks, plus a lot of sports equipment. Athletic shoes, jackets and shirts were popular buys for Bush in 2006. His staff gave him two wooden benches, made for $1,600 from trees on his Texas ranch, for Christmas and cufflinks for his 60th birthday, the AP reports.

Bush received an assortment of clothing including shirts, ties, socks, cap and jacket. He received toy figures of explorers and accessories valued at $308, golf clubs and covers valued at $915, and three hand-carved wooden puzzles valued at $2,378.

The vice president reported receiving $21,674 in gifts, including three fishing rods, a pair of $615 leather hunting boots and a $399 cowboy hat. The gifts were from individuals as well as groups such as the Fraser Institute in Canada and a company, Hatco Inc., of Texas which gave him the cowboy hat.

From senior members of the White House staff, Cheney received a $778 gift of an iPod and a collection of compact discs, Reuters reports.

Source: agencies

Prepared by Alexander Timoshik
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