Tag: 1.2m

From a multimillion-dollar law firm payout to six-figure endorsements and book deals, President Donald Trump’s nominee for health and human services secretary, Robert F. Kennedy Jr., raked in at least $12 million in total income in the past two years, new personal financial disclosure forms show.

Kennedy boasted a vast amount of wealth across various investment funds, bank accounts and real estate properties totaling between $8.6 million to $33.4 million. However, he also reported a staggering amount of liabilities — between $3.4 million and $12.7 million — which could put him in the red on paper.

Kennedy’s liabilities include up to $1.2 million in credit card debt to American Express at a 23% revolving interest rate and three 30-year mortgages worth up to $10.5 million, according to the filing.

The exact values of his total assets and liabilities are unclear because federal financial disclosures are reported in ranges.

A major chunk of Kennedy’s income since 2023 was his nearly $9 million payout from his law firm Kennedy & Madonna LLP, which is now called Madonna & Madonna LLP after Kennedy resigned last week.

His main source of income from the past year stemmed from hefty referral fees from multiple law firms, arrangements which Kennedy noted in his ethics agreement that he will terminate upon his confirmation. However, he stated he plans to retain a contingency fee interest in cases that do not involve the U.S. government.

In his ethics agreement, Kennedy disclosed that among the cases he has referred to the Wisner Baum law firm are claims filed under the National Vaccine Injury Compensation Program (VICP), from which he said he will divest his interest.

Kennedy, who has been a vocal supporter of cryptocurrency and has spoken at multiple Bitcoin conventions, also reported owning between $1 million to $5 million in Fidelity’s Bitcoin fund, the filing shows.

Kennedy also disclosed smaller holdings in biotech companies Dragonfly Therapeutics and CRISPR Therapeutics AG, as well as in other companies like Progressive Corp, Amazon and Apple, from which he said he plans to divest after his confirmation.

Credit card debt potentially doubled in 6 months

Kennedy’s credit card debt potentially doubled in just six months, a comparison of his liabilities in his new disclosure filing and his disclosure from last year suggest.

In July 2024, Kennedy, as a presidential candidate, disclosed having credit card debts to American Express worth $360,004 to $715,000, at roughly 23% revolving interest rate.

In his latest disclosure submitted in late December 2024 and publicly released today, Kennedy’s American Express debts snowballed into between $610,000 and $1.2 million.

It’s unclear how much, exactly, his credit card debt increased in the past few months because liabilities are reported in ranges, but the latest disclosure shows his debts have potentially grown exponentially.

Money from book deals

Kennedy is set to earn millions from multiple book deals, including up to $4 million in advances for books titled “Unsettled Science” and “A Defense for Israel.” Kennedy also earned $1,000 for an advance for a book titled “Vax-UnVax: Let the Science Speak.”

According to his disclosure, two of the three books have already been written prior to his nomination, and he does not plan to engage in “writing, editing, marketing, or promotional services” while serving as HHS Secretary.

Kennedy earned little income from the fourteen books he has already published – such as “American Values: Lessons I Learned from my Family” and “Vaccine Villains: What the American Public Should Know about the Industry” — making less than $200 from each title, according to the disclosure form.

Money from endorsements

Kennedy earned $100,000 from his endorsement of a boxing ball game called Boxbollen in a video he posted on his social media accounts last month, though he returned $50,000 after cancelling the contract following his nomination as health and human services secretary.

“Mr. Kennedy had a pre-existing contract prior to his nomination, after posting the video – he realized it was best to delete it and cancel the contract,” a source close to Kennedy told ABC News in November.

Kennedy also earned $200,000 in speaking fees during three days in November, speaking at the Rockbridge Fall Summit in Las Vegas — organized by a conservative donor network co-founded by Vice President JD Vance – and Genius Network Annual Event in Scottsdale, Arizona.

Hollywood money

Kennedy also disclosed dozens of sources of compensation from his wife Cheryl Hines, an actress best known for her role on HBO’s “Curb Your Enthusiasm.”

In addition to that show, Hines earns residual payments from multiple films and television shows including “Friends,” “Herbie,” “Waitress,” “The Conners,” “The Flight Attendant” and “A Bad Moms Christmas.”

Hines also received a $600,000 advance payment for her memoir “My Shade of Crazy.”

Oil rIghts, properties in Chicago

As was disclosed in his previous financial disclosure from his 2024 presidential bid, Kennedy had previously owned oil and gas rights in Oklahoma, Texas, Kansas, Louisiana, Mississippi, Alabama and Florida but sold them in the past year, netting roughly $55,000 from the sales, according to the filing.

He also reported owning commercial properties in Chicago worth between $700,000 and $1.5 million.