Make us your home page
Instagram

Today’s top headlines delivered to you daily.

(View our Privacy Policy)

Rick Scott is worth $83.8M, report shows

TALLAHASSEE — Gov. Rick Scott's net worth increased last year to $83.8 million, up slightly from the year before, according to his financial statement published Monday by the Florida Commission on Ethics.

Scott, 60, a self-made millionaire and former chief executive of the nation's largest for-profit hospital network, reported a net worth of $83 million in 2011.

The increase is largely thanks to investment gains and a higher evaluation of Scott's Naples home.

Scott had reported a net worth of $218.6 million when he first ran for office in 2010, before he pumped $75 million of his own money into his successful campaign as an outsider promising to revive Florida's economy.

"The financial disclosure process is just one of the ways we maintain transparency and how taxpayers can hold their public officials accountable," Scott said in a statement.

The governor's largest single disclosed asset is a $9.2 million waterfront home he and his wife, Ann, own. A part of the increase in his bottom line came from a higher valuation of the house, from $9 million the year before, by the Collier County property appraiser.

That's still significantly less than the $11.5 million the Scotts paid for the house in 2003, when they moved to Florida from Connecticut.

Scott stores most of his assets in a blind trust managed by a third party, which is meant to be a safeguard against conflicts of interest.

The assets in the trust total $72.9 million, an increase from $71.5 million the year before. Because the assets are in a blind trust, there's no way of knowing what assets gained and lost value in the past year.

Florida's new ethics law, passed by the Legislature and signed into law by Scott, includes a mechanism for blind trusts.

But lawmakers excluded provisions sought by the Commission on Ethics, including one that would have required disclosure of assets placed in a trust. Integrity Florida, an ethics watchdog group, calls Florida's blind trust provision "problematic."

"In practice, the public is left blind, with less access to information to hold officials accountable," said Dan Krassner, executive director of the group.

The trust is managed by Hollow Brook Associates LLC of New York. Scott's financial disclosure was prepared by Kerry Balthrop, a certified public accountant in Keller, Texas.

Scott is far and away the richest governor in Florida history. He accepts no salary and travels on his private jet for official business.

The governor's new airplane, a Cessna Citation, doesn't appear on his financial statement because it's not in his name. The plane is listed in the name of a Naples business that lists Ann Scott as an officer.

Other assets are held in a revocable trust in Ann Scott's name that by law is not required to be disclosed.

Elected officials' financial disclosure statements were due Monday, and reflect assets and liabilities as of the previous Dec. 31.

The new ethics law requires the state to post officials' financial disclosure forms online for the first time. They are available at ethics.state.fl.us.

Contact Steve Bousquet at bousquet@tampabay.com or (850) 224-7263.

Gov. Scott's disclosure report

Embedded document not working on your device? Try using this link instead.

Rick Scott is worth $83.8M, report shows 07/01/13 [Last modified: Tuesday, July 2, 2013 12:56pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Hillsborough Democrats call Confederate monument vote a continuation of white supremacy

    Blogs

    TAMPA — Two days after Hillsborough County commissioners decided not to touch a Confederate monument in downtown Tampa, Hillsborough County Democrats have decided to weigh in.

    On Friday afternoon, Hillsborough County Democrats decried a vote by the county commission not to remove the Confederate monument in downtown Tampa.
  2. For starters: Ramus to DL, Peterson back, no further moves

    Blogs

    We were expecting a flurry of roster moves this afternoon and we got one. OF Colby Ramus is on the 10-day disabled list retroactive to June 19 with left hip tendinitis.

    Colby Ramus is on the 10-day disabled list retroactive to June 19 with left hip tendinitis.
  3. Editorial: Failure to invest in transit means fewer HART routes

    Editorials

    It was simple economics that forced HART, Hillsborough County's mass transit agency, to cut its bus routes. The agency will focus its resources on the more crowded urban core, limiting service in the suburbs in an effort to get more bang for the buck. These are the hard choices communities must make when they refuse to …

    Hillsborough Area Regional Transit is cutting bus routes from 41 to 34. Those in more rural areas will find it harder to catch a bus.
  4. Editorial: Senate bill sacrifices health care for tax cuts

    Editorials

    No wonder Senate Republicans drafted their health care legislation in secret. Beneath the surface, it looks no better than the House version that even President Donald Trump has called mean. This remains a massive tax cut for the wealthy at the expense of the poor, the middle class and the elderly, and it would cost …

    No wonder Senate Republicans, led by Mitch McConnell, above, drafted their health care legislation in secret. Beneath the surface, it looks no better than the House version that even President Donald Trump has called mean.
  5. UberEATS expands to more cities within Tampa Bay

    Business

    TAMPA — UberEATS is expanding its service area in Tampa Bay. Starting today, users in Gibsonton, Odessa, New Port Richey, Riverview and Tarpon Springs can have food dropped off at their location.

    UberEATS is expanding its service area in Tampa Bay. [Courtesy of UberEATS]