Millionaire VP pick: Paul Ryan rich from investments, inheritance
With business investments and a family inheritance, Rep. Paul D. Ryan of Wisconsin and his wife have accumulated millions of dollars in assets and generated income last year well above his congressional salary, according to his most recent financial disclosure statement.
Mitt Romney’s newly announced running mate reported assets in the range of $2 million to $7.7 million. The largest was the interest that his wife, Janna, holds in a trust resulting from the 2010 death of her mother, Prudence Little. Her interest in the trust falls in the range of $1 million to $5 million, Ryan reported.
Ryan also reported investment income that, along with a distribution from the inheritance, supplemented his $174,000 congressional salary – somewhere between $168,000 and $1.2 million.
Members of Congress disclose their income and assets in ranges rather than precise amounts.
The report shows that Ryan has spread his wealth among a wide variety of investments. Ryan reported partnership income from an Oklahoma mining business, Ava O Limited Co., and royalties from the Oklahoma gravel rights of Blondie & Brownie. He also reported interests in mineral rights, vacant land, a cabin and a timber business in Oklahoma.
Ryan’s stock holdings include Apple, Bristol Myers Squibb, Exxon Mobil, General Electric, Home Depot, IBM, Procter & Gamble, Wells Fargo, Google, McDonald’s, Kraft Foods, Nike and Berkshire Hathaway.
He also reported a mortgage on his house in Janesville, Wis., in the range of $250,001 to $500,000.
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