January 19, 2017

Steven Mnuchin Forgot $95 Million In His Financial Disclosure Forms

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Donald Trump’s nominee for Treasury Secretary, Steven Mnuchin, has revised his financial disclosure form:

According to the memo, Mnuchin submitted answers Dec. 19 to a standard committee questionnaire seeking information about his financial and business interests. At the time, Mnuchin verified that those responses were accurate and complete.

However, Mnuchin had left out $95 million in real estate from his initial disclosures, according to the memo….Mnuchin also at first failed to disclose his role as director of Dune Capital International, which is incorporated in the Cayman Islands, the document shows.

….According to the memo, Mnuchin characterized the missing information as inadvertent mistakes, and he updated his answers to the committee’s questionnaire on Saturday, less than a week before his hearing.

Huh. Mnuchin’s earlier disclosure form revealed a net worth around $400 million, far higher than the earlier consensus estimate of $40 million. I guess when you’re worth that much, it’s easy to forget that your four homes (in Los Angeles, England, and two in New York) are worth another $95 million. It could happen to anyone.

Anyway, the bottom line is that Mnuchin is actually worth about half a billion dollars, which makes a lot more sense for a Goldman Sachs/hedge fund lifer. The previous estimates of his net worth always struck me as surprisingly paltry.

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We just wrapped up a shorter-than-normal, urgent-as-ever fundraising drive and we came up about $45,000 short of our $300,000 goal.

That means we're going to have upwards of $350,000, maybe more, to raise in online donations between now and June 30, when our fiscal year ends and we have to get to break-even. And even though there's zero cushion to miss the mark, we won't be all that in your face about our fundraising again until June.

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