Most of us are familiar with Anthony Scaramucci, a Senior Advisor for President Trump, but most people don't know that he has a net worth of an estimated $200 million. While it's no secret that high ranking government officials make good money, this is a massive fortune. It seems highly unlikely that a person of his stature could maintain the necessary lifestyle and put money back on the size of his current income from the White House job. How did he manage to become so incredibly wealthy?
Scaramucci'ss annual salary
Working with the Trump administration, Scaramucci is rumored to bring in an annual salary of $179,700. While this is a decent chunk of change, it's hardly enough to have built such a huge fortune on. Although its three times more than the average American household brings in, it's par for the course in Washington.
Net Worth $200 Million
Name Anthony Scaramucci
Born Long Island, New York
Birth Date January 6, 1964
Source of Wealth Politics, Finance
Country United States
Scaramucci's other endeavors
Prior to being appointed as a senior advisor to the president, as the White House Director of Communications, Scaramucci was a hedge fund manager. He has an impressive career history in finance with Skybridge Capital, which was his hedge fund. He also received income from ownership of 43% of the firm. He made a reported $12 million prior to leaving to serve at the Whitehouse in just a brief period of time. A portion of his net wealth is tied up in Skybridge which is currently up for sale.
Another portion of Scaramucci's wealth was made from the selling of some investments that he owned. He was part owner of a company called Strat-O-Matic Media which is a fantasy sports company. Scaramucci has a diverse business and investment portfolio. These are not the only notable income sources for him. He also makes income from making appearances on political news broadcasts. An example of what he gets paid for each appearance is the $88,000 that Fox Business Network was willing to pay him for being a contributor to their program. He's kept himself busy with appearances of this nature when he's not doing other things. Throughout his life, Anthony Scaramucci has made many good investments and he's been wise enough to know when the right time to sell his stake has been. This accounts for a good portion of his current net worth.
Scaramucci has a keen business sense and a real feel for which investments are sound. He's made several wise investments in a variety of different ventures. One novel investment was made in a teen musical comedy called "Crazy for the Boys." It's a movie that is set to be released in 2018 and it's also backed by the One Media Corp. Another of his ventures is a small stake in a ball team. The New York Mets in particular, through JABB. His investment in the Mets also brings in a stream of revenue.
Hard to maintain privacy
Maintaining privacy in financial matters is something that is nearly impossible for a politician to do. There is always someone who wants to know what they've made, how much and how it was done. Maintaining transparency is just a part of being a public servant. It's not difficult for anyone interested to delve into the financial affairs of those in public office, but the important part of doing so means getting the facts straight.
How did Anthony Scaramucci build a net worth of $200 million?
It's not difficult to see that Mr. Scaramucci has spent a lifetime working hard and making good investments to build his net wealth. He has a talent for knowing when to invest and when to sell. These are sensibilities that not everyone is blessed with. He's put in his time and effort and hedged his bets so to speak to build a fabulous fortune that has taken time to build. It didn't happen overnight as it has been a process. When you consider that his estimated net worth is hovering at around $200 million, that doesn't mean that he has that much cash lying around or even in a bank. It takes into consideration the value of his assets after deductions for what is currently owed, loans, etc. It includes his home, vehicles, stock values and so forth. The thing about wealth is that it can be here today and gone tomorrow.
Written by Garrett Parker
Read more posts by Garrett Parker