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AP
Presidential hopeful Herman Cain (R), former CEO of Godfather's Pizza, has a net worth estimated between $2 million and $6 million.
Follow the money: The first in an installment of First Read reviews of candidates’ financial disclosures.
Herman Cain made between $1.2 million and $2.4 million from 2010 to August 2011, according to a review of his federal financial disclosure filing.
His net worth is between $2.8 million and $6.3 million. (Here is the full financial disclosure.)
The largest single source of his income came from Whirlpool Corp., the appliance manufacturer, where he pulled in $359,008 in the year-and-a-half reporting period. He has a financial interest in the company of between $500,000 and $1 million.
Cain was a director at Whirlpool from 2005 to April of this year. He announced his presidential bid in May. Previously, he served on the board of directors of Whirlpool from 1992 to 2003, according the filing submitted to the U.S. Office of Government Ethics in August.
A significant share of Cain’s income -- between $299,000 and $1.5 million -- came from stock sales, dividends, royalties, interest, and capital gains.
At this income level, and with so much of Cain’s money wrapped up in the stock market, if his 9-9-9 plan were to go into effect, he would stand to greatly benefit. Cain’s plan would reduce the income tax rate to 9% and eliminate the capital gains and estate taxes. Under the current tax system, those at Cain’s income level pay a significantly higher share of taxes than is proposed under his plan.
Also notably, Cain, who was a motivational speaker in the 1990s and has made a career of catchy slogans, served on the board of Hallmark Cards for a decade, from 2001 until this past April. In addition to 9-9-9, when managing a Burger King, he instituted the BEAMER program to get employees to smile and be friendlier.
Other income sources include:
- $202,500 from Agco Corp., a heavy machinery company from Duluth, GA. He was a director there from 2004 to April of this year;
- $165,183 from Cox Radio in Atlanta, where he hosted a talk-radio show;
- $53,965.50 from Godfather’s Pizza
- Between $15,001 and $50,000 from Bell Research, where he was a director from 2009 through June 2011.
The rest of his income came from stocks, money market accounts, CDs, IRAs, and investment funds, including:
- Sales and dividends from Coca Cola totaling between $145,207 and $1.15 million
- Sales and dividends from Whirlpool totaling between $112,504 and $235,000
- He made between $5,001 and $15,000 from sales of 2,000 shares of a company called SonicWall Inc.
- Capital gains of between $5,001 and $15,000 of common stock from Warren Buffett’s investment firm Berkshire Hathaway. (Cain holds between a $15,001 and $50,000 stake in the company.)
Cain’s biggest financial interests are in:
- Whirlpool (between $500,002 and $1 million)
- Bell Research (between $300,002 and $550,000)
- Godfather’s Pizza (between $100,001 and $250,000)
- Agco (between $100,000 to $250,000)
- A computer wholesale company in West Palm Beach, FL, (between $100,000 to $250,000). The name is not listed on the financial disclosure.
- Supervalu Inc. (between $15,001 to $50,000)
- A 50% ownership stake in VHC Investments, a rental real estate holdings company (between $50,000 to $100,000)
- THE New Voice, a group he founded to promote his writings and speeches; THE stands for “The Hermanator Experience.” (between $50,000 to $100,000)
He has between $366,007 and $855,000 in checking accounts, money-market accounts, and CDs at Sun Trust Bank and Branch Banking.
He also has between $793,014 to $1.8 million invested with several investment funds, like Blackrock Global Allocation, Legg Mason Affiliates, Goldman Sachs, Fidelity, Vanguard, Wells Fargo, RBC, Alliance Bernstein, The Hartford, Delaware Investments, and Federated Investors.
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It's all right with me that he has made a lot of money. What is not all right with me is that he is proposing tax plans that will make him richer at the expense of the middle class.
wow a pizza baker and a washing machine repairman. what a chump.
Hey fool.....at least he is a business man.....what was President Obama.....nothing more than an organizer. You are the true chump.
Great! now we know what this rich guy is about, protecting his shares in the Stock Market lol.
All these big businesses he worked for got his shares in them. So who is to say he is not running on his Candidacy to protect their rights which equivocally leads to his own rights?
Ain't that a clearer picture or what?
And why do politicians run for office.....both sides to protect their interests.
Whirlpool director?
For all those in the USA who lost your jobs due to Whirlpool plant closings, and migration over seas.... remember Herman says it's YOUR fault!
Fiesty Redhead,
I have missed your comments recently. I hope everything is OK on the home front. Perhaps it was me just now getting caught up. But in any case good to see your posts.
LL
Thanks for the concern - happy to report everything is fine on the home front & elsewhere! ;o)
Had some company from out of town over the weekend so my time here was sporadic!
This man is obscure to me, and this is a problem. I cannot judge someone like this on his merits. We must judge each person by their love for God, neighbor, and themselves! What do I mean by "love"? The common denominators of love, in my definition, are "the degree of difficulty" and "the degree of self-sacrifice or self-effacenment," which is different from self-negation." A real man, and Christian, is a person who gives rather than receives, approval. Unfortunately, a man who makes a career of receiving quick applause for "short slogans and one-liners," scares me! This said, I invite Mr. Cain to prove me wrong, by publishing his response.
Did you judge Obama on any merits when he ran or was it based entirely on his rhetoric. The latter I suspect because Obama had absolutely zero merits to his credit when he was running for President except for his mouth.
'A significant share of Cain’s income -- between $299,000 and $1.5 million -- came from stock sales, dividends, royalties, interest, and capital gains.' Surprising most of his income is NOT subject to the INCOME TAX he claims is too high but instead from is subject to the much lower capital gains tax. Meanwhile the family raising, middle-class, working stiff derives most of their income from earned income which is taxed at a much HIGHER rate than these people.
Since he has no less than a quarter million dollars sitting around in any one of his various checking accounts he doesn't worry about bank fees. No wonder he doesn't understand the 'Occupy Wall Street' movement. No wonder he thinks that poor people have themselves to blame for being poor.
And he expects to represent the 99% of the country as President. PLEASE. Take back our country by electing a REAL REPRESENTATIVE not another fat cat.
So Kenneth you look down on this black man because he was raised in poverty and worked hard to become successful? You would of course prefer that he stay in the projects like a good Democrat Black supporter instead?
Do you even know his family background?
The occupy wall street crowd are dips, losers, morons. Everyone should pay their fair share of taxes including the poor who drain the system. At least Cain is successful in business v. the rest of the Government career idiots.
Thanks for helping to send those jobs out of the country. No wonder the Koch brothers are backing this Ahole.
Ya, imagine you're a billionaire and only have to pay a 9% tax thanks to their stooge Cain!
No duh that he wants the upper 1% to pay 9% income tax and no capital gains tax.
He personally gains from it! What a no brainer.
He has a long record of working hard to accomplish his wealth. Still he isn't as wealthy as Obama who never held any kind of real job before he was put into politics.
I'm shocked.... SHOCKED I say,to find out that Cain would gain tremendously if his tax plan becomes a reality. I guess he is just like any other politician except that the lobbyist wanting to get favorable treatment for his client is HIM.
It is not surprising that most of the comments are from those that are DUMB-DUMB-DUMB. Settlement is always preferred to litigation. When there is a settlement usually no one is really happy. It is a business decision. If you are sued for nothing you will end up settling to end the litigation. ITS ALL A MATTER OF MONEY. There is no such concept of "the principle". Courts are tied up- 2-4 years to litigate. Settlements relieve the court backlog. That is it. It is a game between Plaintiff and Defendant.
Whirlpool is the perfect example along with GE of Companies closing up here in the USA and opening up in China and Mexico, because they can and they only care about the bottom line of profits, not modernizing, using robotics and building here in the USA. While investors have invested in these companies to create jobs here they have been living the high live on Bucks and letting the Chinese do their jobs. This is the Herman Cain experience along with the rest of them that have voted to move Offshore.
And just what was the Barack Obama experience when he ran for office? How about zilch in anything.
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Cain should write a couple books...
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Spent a few moments watching Cain and Bill Clinton on cable this week,
Bill was breaking his arm patting his own back and Cain was talking about restoring America's economy.
Sooooooooooooo in other words Just an ORDINARY guy....
A Little more into the history of Herman Cain revels he went to school as a poor boy , He went to college as a poor boy , worked hard , made good financial decisions and did well for him self and his family ,
WHATS THE PROBLEM jealous that you don't work that hard , or maybe just to lazy to put out the effort ,
OR could it be you just aint that ---
Herman Cain's a clown! Everytime I see him, I'm reminded of a song from a cartoon when I was a child. It went like this "Hoooow much is that monkey in the window".
I have come up with a great bumper sticker-HOW DO YOU MAKE A CONSERVATIVE CRY?-REELECT OBAMA
Herman Cain is running for a national talk radio show, a seat on more board of directors, and a show on Faux News. Sorry my deluded friends. He is nor really running for the presidency.Mitt is going to be your man. This little sideshow being visited on the Cain campaign by the Perry people is just typical rightwing politics. Have fun now.
Herman Cain is running for a national talk radio show, a seat on more board of directors, and a show on Faux News. Sorry my deluded friends. He is nor really running for the presidency.Mitt is going to be your man. This little sideshow being visited on the Cain campaign by the Perry people is just typical rightwing politics. Have fun now.
Herman Cain is running for a national talk radio show, a seat on more board of directors, and a show on Faux News. Sorry my deluded friends. He is nor really running for the presidency.Mitt is going to be your man. This little sideshow being visited on the Cain campaign by the Perry people is just typical rightwing politics. Have fun now.
If we are lucky, maybe we can get him to run the US for 8 years and end up in the black instead of 75 TRILLION in debt. It is time the US be run like a business. Sorry all you freeloaders.... to stay in business you make money and pay your bills... you don't borrow and give it away. Things will change for the better when Cain is elected. What fun it will be!
If we are lucky, maybe we can get him to run the US for 8 years and end up in the black instead of 75 TRILLION in debt. It is time the US be run like a business. Sorry all you freeloaders.... to stay in business you make money and pay your bills... you don't borrow and give it away. Things will change for the better when Cain is elected. What fun it will be!
If we are lucky, maybe we can get him to run the US for 8 years and end up in the black instead of 75 TRILLION in debt. It is time the US be run like a business. Sorry all you freeloaders.... to stay in business you make money and pay your bills... you don't borrow and give it away. Things will change for the better when Cain is elected. What fun it will be!