Bill Turque has a fuller picture of the finances of the three leading candidates in CD8, now that David Trone has filed his financial disclosures.
Jamie Raskin had total income of around $350,000 for himself, while his wife had an unknown amount of income (Turque has twice now pointed out that Chris Matthews’ income is not reported, but neither is Sarah Bloom Raskin’s, a point Turque has omitted). Their assets total between $2.8 and $6.8 million.
Kathleen Matthews earned $1.4 million in her prior job at Marriott. She and her husband have assets of between $22.5 and $61.3 million.
David Trone’s income and assets are a little more complicated.
Wine retailer David Trone, who is self-funding his campaign for the Democratic nomination for Congress in Maryland’s 8th District, earned at least $14 million in salary and income from partnerships and investments in 2015, according to a financial disclosure report filed with the House of Representatives.
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Trone, co-owner of Total Wine & More, a national chain of 132 big-box liquor stores, earned just over $1 million in salary as president of Retail Services & Systems, the Bethesda-based parent company for 31 subsidiaries that operate stores in Delaware, Virginia and North and South Carolina.
The lion’s share of his reported earnings are in the form of partnership and other income from 70 retail stores for which he is listed as co-manager or president. Income from the holdings, along with dividends and interest from other investments, came to between $12.7 million and $26.4 million in 2015, according to a Washington Post analysis of his disclosure form.
The total value of assets — some of which are held by his wife, June Trone — are between $17 million and $68.5 million, according to the information filed. Federal financial disclosure rules allow assets and income to be reported within broad ranges.
Among Trone’s biggest sources of reported income was “over $5 million” in 2015 as president of Cherry Hill Wine & Spirits, which operates two stores in New Jersey. A store in Towson, Md., operated by TFWS, which lists Trone as president, also generates income in the “over $5 million” category.
Trone listed between $1 million and $5 million in partnership income from each of two companies: DRT Wine & Spirits, which operates a store in Bloomington, Minn., and Florida Fine Wine & Spirits, which operates 26 stores in that state. Trone serves as co-manager and president of both entities.
In all, Trone reported income from 11 companies that operated at least 70 Total Wine stores. But he reported no income from another 36 companies, listed in another section of the form, where he is a director, president or co-manager. It was not clear how many stores are operated by those firms.
There’s a lot of wealth in this race, and it’s not just one candidate. Trone is, however, the only one spending his own money, and doing so with wild abandon.