Advertisement
  1. Florida Politics

Rick Scott is worth $83.8M, report shows

Published Jul. 2, 2013

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.

ALSO IN THIS SECTION

  1. The Florida Supreme Court, Wednesday, May 1, 2019. [SCOTT KEELER  |  Tampa Bay Times]
    “Death is indeed different,” wrote the lone dissenting justice. “This Court has taken a giant step backward."
  2. State Rep. Erin Grall, R-Vero Beach, presents legislation to create a new chapter of Florida law dedicated to parents' rights when dealing with government and other agencies, during a committee meeting Jan. 23, 2020. [The Florida Channel]
    Parents have been marginalized by bureaucracy, and need to be empowered in law, sponsor Rep. Erin Grall says.
  3. Wichita State Shockers center Jaime Echenique (21) and USF Bulls guard David Collins (0) battle for the loose ball during the second half at the Yuengling Center in Tampa on Tuesday. [OCTAVIO JONES  |  Times]
    Lawmakers may require public colleges and universities to ask permission before selling naming rights.
  4. The Florida Capitol at the start of the legislative session on Jan. 14, 2020, in Tallahassee. (AP Photo/Steve Cannon) [STEVE CANNON  |  AP]
    If the proposal is approved by the Senate, it would appear before voters in November.
  5. Robert Ray, a member of President Trump's defense team, arrives at the Capitol in Washington on Wednesday, Jan. 22, 2020. The U.S. Senate plunges into President Donald Trump’s impeachment trial with Republicans abruptly abandoning plans to cram opening arguments into two days but solidly rejecting for now Democratic demands for more witnesses to expose what they deem Trump’s “trifecta” of offenses. Trump himself claims he wants top aides to testify, but qualified that by suggesting there were “national security” concerns to allowing their testimony. (AP Photo/Cliff Owen) [CLIFF OWEN  |  AP]
    Trump reportedly wanted a star-studded team capable of performing on TV.
  6. Algae laps along the shoreline of the St. Lucie River in 2019, when heavy rains forced the release of tainted water from Lake Okeechobee into the Caloosahatchee and St. Lucie estuaries. The releases spawned massive blue-green algae blooms.
    Environmentalists say Florida faces a water quality crisis. But lawmakers are watering down rules to tackle fertilizer runoff.
  7. Former Florida Attorney General Bill McCollum told a House committee that the state should change state law to limit cities and counties from filing lawsuits against corporations on Wednesday, Jan. 22, 2020. [LAWRENCE MOWER | Tampa Bay Times]
    Former Attorney General Bill McCollum said “it’s a big mess.” Cities and counties disagree.
  8. Secretary of State Mike Pompeo attends a protocolary meeting of the Permanent Council at the Organization of the American States, Friday, Jan. 17, 2020, in Washington. (AP Photo/Michael A. McCoy) [MICHAEL A. MCCOY  |  AP]
    The U.S. State Department wouldn’t comment on the official visit, except to say doors open to the public at 4 p.m.
  9. Pinellas Sheriff Bob Gualtieri, left, and Florida Attorney General Ashley Moody were appointed to the Presidential Commission on Law Enforcement and the Administration of Justice by Attorney General Bob Barr. [Tampa Bay Times]
    Florida Attorney General Ashley Moody will also join a commission that will “explore modern issues affecting law enforcement," according to the Department of Justice.
  10. Tiffany Carr — shown during a 2004 visit to a Hollywood nail salon, where she spoke on domestic violence — did not respond this past week to requests from the Miami Herald to address her $761,560 annual salary. She is head of the Florida Coalition Against Domestic Violence. [MIAMI HERALD  |  [Bob Eighmie Miami Herald file photo]]
    A bill removes a statute ensuring a state contract with the Florida Coalition Against Domestic Violence following a flap over how much its former CEO was paid.
Advertisement
Advertisement
Advertisement