Politics

Sen. Marco Rubio’s latest financial disclosures show added wealth from book royalties

U.S. Sen. Marco Rubio earned more than $30,000 in additional book royalties in 2014, according to his latest financial disclosure and pulled in considerably more this year as he emerged as a presidential contender.
U.S. Sen. Marco Rubio earned more than $30,000 in additional book royalties in 2014, according to his latest financial disclosure and pulled in considerably more this year as he emerged as a presidential contender. AP

U.S. Sen. Marco Rubio earned more than $30,000 in additional book royalties in 2014, according to his latest financial disclosure and pulled in considerably more this year as he emerged as a presidential contender.

The Florida Republican had to file a disclosure with the Senate, which shows the $30,000 for 2014.

But as a presidential candidate he also had to file a disclosure with the Federal Election Commission. On that form he listed book royalties between $100,001 to $1 million for 2015. It was said by some to be near the middle of that range.

The new income adds to the more than $1 million he had already earned from two books, chiefly the 2012 memoir An American Son. (Hillary Clinton reported Friday earning $5 million from her latest book, Hard Choices.)

Rubio’s second book, American Dreams, was published by Penguin Group in January and is a collection of policy proposals.

That book deal provides him 12.5 percent to 15 percent of profits on hardcover editions, 7.5 percent to 10 percent of paperback editions and 10 percent to 25 percent for audio editions and downloadable audio versions.

Rubio, who gets the standard $174,000 salary as a senator, also reported $22,114 salary for part-time teaching at Florida International University.

He listed on his Senate disclosure $68,000 in income from liquidating an ABA Retirement Funds account. It was unclear Friday why Rubio cashed in on Sept. 1, 2014, and his team did not comment.

He reported between $15,001 and $50,000 partnership distribution income from his wife’s event planning services business. (In 2013, she earned at least $54,000 working part time for the charity financed by Miami billionaire Norman Braman, records show.)

Rubio’s assets include an employee savings plan at FIU, and he noted that he will get approximately $1,000 a month, starting at age 62, in state pension payments for his time in the Florida Legislature. He has Florida Prepaid College Plans for his four children.

He holds stock in Coca Cola worth up to $15,000, has a TD Ameritrade savings account worth up to the same amount and has two joint Citibank accounts with his wife, one worth between $100,001 and $250,000, and the other between $50,001 and $100,000. (The disclosure allows candidates to report a range, making it hard to pinpoint actual wealth.)

Liabilities include a Chase mortgage between $250,001 and $500,000 for his home in West Miami; a GMAC mortgage at $100,001 to $250,000 for a rental home in Tallahassee; and a U.S. Century Bank home equity loan at $100,001 to $250,000.

Tampa Bay Times Washington Bureau Chief Alex Leary can be reached at: aleary@tampabay.com

  Comments