Riordan Reports $6 Million Income on $70 Million in Investments : Disclosure: The holdings make him the wealthiest city official by far. Reports show Ferraro and Braude with considerable stock portfolios.

Los Angeles Mayor Richard Riordan’s most complete financial disclosure to date shows that he earned more than $6 million last year from an investment portfolio that exceeded $70 million.

In addition to his investment gains, Riordan earned $440,000 for six months work at his law firm, Riordan & McKinzie. He took a massive pay cut in July when he moved to City Hall, where he draws a salary of $1 a year.

In statements filed with the city Ethics Commission, Riordan disclosed a net worth of more than $70 million from a wide range of investments and property holdings, easily making him the wealthiest of Los Angeles’ city officials. Riordan’s wealth is not surprising since it was reported during last year’s mayoral campaign that he had a personal fortune of about $100 million.

After he took office, Riordan put his holdings in a blind trust to avoid conflicts of interest. The financial disclosure does not include any investments made after the creation of the trust last July.

Riordan’s investments include $8.2 million in Mattel stock, a $2.1-million interest in the historic Pantry Restaurant, a $1.75-million share in the Fine Arts Building and $9.75 million in Tetratech Inc. stock.

His income comes from a wide range of sources. He made $180,000 from the Pantry; $24,000 from Kaufman and Broad Inc.; $440,000 from Pacific Coast Packaging; $50,000 from Adohr Farms and $2.85 million from F. S. Equity.

The disclosure statement, which is required twice a year for hundreds of city officials, is designed to make officeholders aware of their potential conflicts of interest and provide a public record of investments.

Among the 15 City Council members who also filed financial reports, Council President John Ferraro and Councilman Marvin Braude reported the most extensive financial portfolios.

Most of Ferraro’s wealth is concentrated in stock holdings in 76 different companies. He listed 24 companies in which his wife Margaret holds stock, but conceded that it was difficult for him to make a precise accounting. In a note to the Ethics Commission, he said, “She informed me that they were her investments and therefore she does not want to disclose them.”

Braude is also immersed in stocks and bonds, with 22 separate investments. His wife holds an interest in a trust that has similar investments.

At the other end of the spectrum was Councilwoman Ruth Galanter, who reported no income, gifts, honorariums or investments, aside from her $90,680 salary.