Eliot Spitzer releases some financial information
Eliot Spitzer made millions of dollars last year from his family's real estate business and collected at least $500,000 from CNN, which canceled his television show the previous year, disclosures released Wednesday night showed.
Spitzer, running for New York City comptroller, earned at least $2.5 million as "proceeds of ownership" of real estate, between $100,000 and $250,000 in executive compensation from the family company and at least $500,000 from CNN, his filing with the city's Conflict of Interest Board showed. He earned between $60,000 and $100,000 for speeches and between $1,000 and $5,000 writing a column for Slate magazine.
The total 2012 income of Spitzer and his wife, Silda Wall, was $4.268 million, a partial release of his tax forms earlier Wednesday showed. He paid $2.094 million in city, state and federal income taxes, his campaign said Tuesday. Spitzer's disclosures came amid pressure from the camp of his Democratic primary opponent, Manhattan Borough President Scott Stringer, to release full tax returns for the past five years.
The two-page federal Form 1040 gives summaries of income, deductions and federal taxes paid, but without the details that would appear on his other forms. Tuesday, his campaign said that Spitzer "will not be releasing the actual tax returns, as they contain income information about partnerships and other entities that is private."
The COIB disclosures do not contain exact amounts.
The disclosure paints a vague picture of Spitzer's wealth. It lists ownership stakes in six properties, each worth at least $500,000, including his Fifth Avenue residence, and least $310,000 in mutual fund and commodities accounts.
Stringer's campaign said the disclosures weren't enough. "Eliot Spitzer spent his life in public office demanding transparency from others, yet he is refusing to release his full tax returns and disclose his investments," Stringer spokeswoman Audrey Gelman said. "It's clear," she said, "that he has something to hide."
Hari Sevugan, a Spitzer spokesman, said the disclosures should provide a "complete picture."