WASHINGTON – Caroline Kennedy has a personal fortune of up to $275 million, according to recently filed financial disclosure forms that she was required to submit as a result of her nomination to be US ambassador to Japan.
The filing is required in order to determine whether she has any potential financial conflicts that might require divestment. The documents will be examined as part of her confirmation process, which is before the Senate Committee on Foreign Relations.
“I understand that a heightened prospect of a conflict of interest could exist as to companies that maintain a presence in Japan, because they may be more likely than other companies to seek official assistances from or make other contact with the Embassy,’’ Kennedy wrote in a letter that accompanied her disclosures. “I will remain alert to the possible need for recusal where appropriate.’’
The documents provide an unusual look into the fortune of one of the members of the Kennedy clan, and it is particularly rare for Caroline Kennedy, who refused to release her financial information when she was hoping in 2008 to be appointed to a US Senate seat in New York.
The 53-page filing disclose a broad range of investments, most of which are in bond holdings, health care, and property that she has in New York, Chicago, Washington, and Massachusetts. She has three separate trusts that were established in her name in 1959, 1963, and 1982 and are worth up to $35 million. She also has a trust named for her late brother, John F. Kennedy, Jr., worth up to $5 million.
Federal disclosure rules only require nominees to list incomes in broad ranges, making it is impossible to determine Kennedy’s precise net worth. The documents provide a range indicating she holds assets worth between $48.6 million and $274.8 million.
Kennedy filed the disclosure form last month, but it did not gain wide notice until the New York Post reported on them Monday.
Over the last year and a half, Kennedy earned between $5 million and $27.4 million from her investments, according to a tally of her filing.
She also received $583,333 from Hyperion Books for payments related to her 2011 book, “Jacqueline Kennedy: Historic Conversations on Life with John F. Kennedy.’’ And she received a total of $325,000 for four speaking engagements, from Swan Productions in California and Triglobal Strategic Ventures in New York.
There were some investments that she did not disclose. She has a financial interest in a Goldman Sachs fund that does not disclose the underlying assets to investors. Kennedy said that she would divest from the fund if she is confirmed.
She also saidshe is requesting a waiver regarding her financial interest in Freescale Semiconductor, an Austin, Texas-based technology company that has an office in Japan.
Kennedy also said that, if confirmed, she will resign her positions with a variety of organizations. Those include the John F. Kennedy Library Foundation, the John F. Kennedy Center for the Performing Arts, and the Institute of Politics at Harvard.