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Q&A: A closer look at Dick Cheney's financial picture

Former Vice President Dick Cheney appears on CNN’s State of the Union in March.

Associated Press

Former Vice President Dick Cheney appears on CNN’s State of the Union in March.

Cheney's financial worth

How much was Dick Cheney worth before he was George Bush's vice president and how much is he worth now that he is out of office?

Financial disclosure forms indicate the former vice president was worth somewhere between $20,954,025 and $99,317,000 in 2007. The forms list all assets in ranges, so they're quite imprecise.

Still, the range placed him fourth in the executive branch and comfortably ahead of his boss, whose asset range was between $6,364,044 and $19,374,000.

Cheney spent most of his life working in government, as a congressman and in various appointed positions, and was not generally regarded as a wealthy man until President Bill Clinton, a Democrat, swept into office in 1992. That pushed Cheney into the private sector, and he did very well.

He was on the board of directors of several large corporations, including Halliburton Energy Services, Procter and Gamble, Salomon Smith Barney, Union Pacific and Electronic Data Systems.

In 1997 he was named chief executive officer at Halliburton and a few months later, chairman of the board.

When he was chosen to run with George Bush in 2000, he retired from Halliburton and received a package estimated at $20 million. He also had stock options worth almost $40 million at 2000 prices.

Between his election and taking office, Cheney received about $1.6 million from Halliburton in deferred pay and bonuses.

He continued to hold Halliburton stock options after becoming vice president, but put them in trust under an attorney's control. The attorney decides whether and when to exercise the options. And any after-tax profits would be distributed to one of three charities designated by Cheney and his wife, Lynne: the University of Wyoming, George Washington University and Capital Partners for Education, which provides financial aid for low-income students to attend private and religious schools in Washington, D.C.

The rest of Obama's statement

We have heard reports that during President Barack Obama's trip to Turkey, he said that America is no longer a Christian nation. Is that true?

Here is word for word what he said at a news conference, as he praised Turkey for having a secular democracy:

"I've said before that one of the great strengths of the United States is, although, as I've mentioned, we have a very large Christian population, we do not consider ourselves a Christian nation or a Jewish nation or a Muslim nation. We consider ourselves a nation of citizens who are bound by ideals and a set of values. I think Turkey, modern Turkey, was founded with a similar set of principles."

Q&A: A closer look at Dick Cheney's financial picture 05/04/09 [Last modified: Monday, May 4, 2009 8:01pm]

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