Features A Transparency Score Barometer – How Willing Were Candidates to Address Questions About Their Personal Finances
NEW YORK (August 14, 2019) – Forbes released today 2020 Money, a definitive wealth ranking for the 2020 Presidential candidates. It’s no secret that Donald Trump is a billionaire, but how about the 25 candidates who are competing to replace him as president of the United States? Forbes dug into the details—examining financial disclosure statements, scouring local real estate records and calculating pension benefits—to figure out the finances of the 2020 candidates.
“You can tell a lot about someone by looking into their finances,” says senior editor Dan Alexander. “Some of these people made money in business. Some got it from their parents. Some got it from the government. The poorest is Mayor Pete, at $100,000, and the richest is, of course, Donald Trump, at $3.1 billion. Add everyone up, and it’s a $5 billion field.”
Of the candidates included in Forbes’ 2020 Money package, all but four are millionaires. Bernie Sanders is a millionaire, so is “middle-class Joe” Biden. Elizabeth Warren is richer than both, worth an estimated $12 million. John Delaney’s $200 million fortune makes him twice as wealthy as everyone besides billionaires Tom Steyer and Donald Trump.
Key components of this package include:
· Net worth for each of the candidates.
· Charitable giving
· Transparency score: a barometer based on the financial openness of each candidate and how willing they were to address questions. Scores range from 0 (lips sealed) to 5 (open book).
Forbes has been tracking the world’s wealth for over 30 years and is the definitive source for wealth information across the globe. 2020 Money is an ongoing project that will continue to uncover information about the financial wealth of the 2020 candidates.
Forbes held off on estimating the net worth of three 2020 candidates—John Hickenlooper, William Weld and Wayne Messam—who have not yet filed financial disclosure reports with the federal government. This story will be updated after they do.
Methodology: By law, all presidential candidates must file financial disclosure reports, which list most of their assets and liabilities in broad ranges. That gives us a start. We narrow those ranges wherever possible, then hunt for holdings and debts not listed on the filings, like personal real estate, mortgages and government pensions. This ranking includes assets owned by spouses and dependent children.
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