Steven Mnuchin Forgot $95 Million In His Financial Disclosure Forms


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.

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2019 demands.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate