Finances of Possible Bloomberg Successors Are Disclosed

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The New York Sun

While most New Yorkers have long known that Mayor Bloomberg is worth billions of dollars, the finances of his potential successors are now coming under the microscope as the 2009 mayoral race gets closer.

According to disclosure reports released yesterday by the Conflicts of Interest Board, the city’s public advocate, Betsy Gotbaum, is the wealthiest contender to replace Mr. Bloomberg.

The documents show that Ms. Gotbaum has assets of between $699,000 and $2.4 million, not including her city salary. That tally includes everything from Social Security payments to retirement funds to stocks, including McDonald’s and Google.

The reports, which city elected officials are required to file annually, also show that the city comptroller, William Thompson Jr., has American Express credit card debt of between $5,000 and $35,000. He did pay off two other credit card balances in the same ranges since his last filing.

The City Council speaker, Christine Quinn, was the only possible mayoral contender to report owning a home outside the city. In 2004, she purchased a four-bedroom New Jersey vacation house, which she owns half of, for more than $500,000.

Neither Mr. Thompson nor Ms. Quinn, who are widely considered more formidable contenders on the Democratic side than Ms. Gotbaum, listed any stock holdings. They both listed retirement funds worth tens of thousands of dollars and positions on a number of city boards and organizations.

The 2006 disclosures were available yesterday only for the city’s four most senior elected officials: the mayor, who released his independently a few weeks ago, the comptroller, the City Council speaker, and the public advocate. The Conflicts of Interest Board will be releasing disclosures for other elected officials next month.

The 2005 reports show that the president of the Bronx, Adolfo Carrion, had debt totaling between $20,000 and $140,000 on a MasterCard, two Visa cards, and a Discover card.

The president of Brooklyn, Marty Markowitz, reported between $618,000 and $815,000 in assets in 2005. Rep. Anthony Weiner, who is considered a strong contender for mayor, filed when he last ran in 2004. He reported stocks worth somewhere between $17,000 and nearly $85,000.

Meanwhile, supermarket magnate John Catsimatidis, who also plans to run for mayor, is not yet required to file disclosures. He has said he’ll spend between $30 million and $40 million of his own fortune on his campaign.

Mr. Bloomberg, whose net worth has been estimated at as much as $20 billion, has holdings worth far more than any of his possible successors. In addition to his Upper East Side townhouse, he reported owning properties in Bermuda, Westchester, Vail, Colo., and several other locations.


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