Financial Report Details Bush’s Millions

Republican presidential front-runner George W. Bush gave Americans a more detailed picture of his wealth Friday, disclosing that he owns more than $7 million in U.S. Treasury notes and a blind trust worth more than $1 million.

The son of former President Bush also reported that he has two money market accounts with a total value from $600,000 to $1.25 million, three checking accounts with a total value from $3,000 to $45,000, and no debts.

And he received the first half of a $250,000 advance for a campaign biography he is writing with Houston Chronicle sports columnist Mickey Herskowitz. Bush’s initial share, after commission, was $106,250, which he is donating to four youth charities.

Bush, who is paid $97,890 as governor of Texas, reported on his federal income tax return in April that he and his wife, Laura, had $18 million in income and paid $3.7 million in taxes in 1998.

Included in that total was the $14.9 million he received when the Texas Rangers baseball team was sold. Bush initially paid $606,302 for his share of the club.

Bush still has a share of the partnership that owned the team, valued from $1 million to $5 million. When the partnership finally is dissolved, Bush is expected to receive an additional $1 million to $2 million.

The governor also earned capital gains income from $100,000 to $1 million from the sale of real estate investments, capital gains income of $100,000 to $1 million from Advance Paradigm stock and capital gains income from $50,000 to $100,000 from the sale of investments in oil and gas.

He reported his largest asset to be his investment in U.S. Treasury notes, which he valued from $7.2 million to $14 million. He reported that those notes alone earned him from $351,000 to $1.2 million in 1998.

Bush’s book, expected to be published later this year, will talk about his principles and values and how they were shaped, spokeswoman Karen Hughes said. For example, she said, Bush learned to take risks growing up in Midland, Texas. “When he grew up there, the motto was, ‘The sky’s the limit,’ ” she said.

The financial disclosure report is required of all presidential candidates. Most of the others filed May 15; Bush requested a 45-day extension because his accountant was hospitalized.