Kirk’s Financial Report Shows Publicly Traded Assets Worth as much as $5.9 Million
KIRK
Worcester Telegram & Gazette
Jessica Leving
Boston University Washington News Service
10/28/09
WASHINGTON—Sen. Paul G. Kirk Jr., D-Mass., is a rich man.
According to his financial disclosure report, filed Oct. 23 with the Senate Office of Public Records, Mr. Kirk has publicly traded assets worth between $2.74 million and $5.98 million—and that’s not even including his house, car or annual income: From Jan. 1, 2008, to Oct. 22, 2009, Mr. Kirk reported earned income totaling $349,187.50.
Mr. Kirk, who was sworn in as interim senator on Sept. 25 to replace the late Edward M. Kennedy, was required to file his report within 30 days of assuming office. Assets listed on the report are valued within a range. For example, Mr. Kirk listed four publicly traded assets valued at between $15,001 and $50,000 each. Most of the publicly traded assets are stocks and mutual funds.
Before becoming senator, Mr. Kirk resigned his position as chairman of the John F. Kennedy Library Foundation and severed his relationship with the law firm Sullivan and Worcester, where he was a retired partner, and with Kirk and Associates, a business and consulting firm of which he was chairman. Mr. Kirk reported no income from these positions on his financial disclosure form.
The bulk of his reported earned income came from his former position as corporate director at three companies: Hartford Financial Services Group, an insurance and investment company; Rayonier Inc., a forest products company, and Cedar Shopping Centers in Port Washington, N.Y., a real estate investment trust.
On his publicly traded assets, Mr. Kirk reported unearned income between $143,227 and $385,108.
Personal property not held for investment or production of income does not need to be disclosed, so figures on the value of Mr. Kirk’s home, car and other assets are not reported.
OpenSecrets.org, the Web site of the Center for Responsive Politics, a nonpartisan organization that analyzes money and politics, has not yet crunched the data for Mr. Kirk, nor has it posted an analysis of the most recent data for his colleague, Sen. John F. Kerry, D-Mass.
But for the 2007 calendar year, OpenSecrets ranked Mr. Kerry the richest man in the Senate, with a net worth of $284 million to $388 million.
Mr. Kirk will serve as senator until a Jan. 19 special election.
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