Saturday, September 8, 2018

Trump Adviser Larry Kudlow Reveals Assets of $2 Million

President Donald Trump’s top economic adviser, LarryKudlow, has revealed assets worth a maximum of only $2 million in his financial disclosure obtained from the White House, reports Bloomberg.

Kudlow, director of the White House National Economic Council, disclosed income of $820,203 in
2017 and the first months of 2018. His biggest holding was a stake worth between $500,000 and $1 million in State Street Corporation’s SPDR S&P 500 ETF, the document shows.

According to the disclosure, Kudlow worked for the Committee to Unleash Prosperity, a group launched by former Republican presidential candidate Steve Forbes, economist Arthur Laffer and Stephen Moore, the founder of the Club for Growth and a top economic adviser to the Trump campaign. The group pushes for low taxes, deregulation and free trade.

Kudlow also provided consulting services for five investment firms, including Guggenheim Partners LLC and Neuberger Berman, according to the disclosure, which requires government officials to list sources of compensation exceeding $5,000 in a year. He also listed CNBC, where he was a senior contributor before joining the White House, and Westwood One, where he hosted a radio show.

Kudlow’s largest source of income -- $782,000 -- was from his company, Kudlow & Co., LLC, for personal services, including television and radio work, consulting, writing and paid speeches. His company made a total of $620,500 from his speeches and participation in conference calls. More than 30 organizations paid to hear from him, including Morgan Stanley, Bank of America Corp.’s Merrill Lynch and the National Retail Federation.

His speaking fees, except for a couple of low-paid local speaking events, ranged from $7,500 to $30,000.

Deloitte Touche ended up with the top dollar cost of $30,000 for Kudlows wisdom.

White House officials are not required to reveal personal real estate holdings as part of the disclosure.


1 comment:

  1. Pretty low given he pulls in well over $600k. Seems pretty risky to have over $500k in an S&P ETF too with bubble we are in.