One candidate makes more than a quarter of a million dollars a year as a law professor. Another carries $165,000 in student loan debt. Then there’s the contender who’s really rich.
Disclosure statements filed by candidates for Maryland’s 8th Congressional District seat reflect the wealth of Montgomery County, home to the bulk of the district’s voters, where median household income is just under $100,000 a year. The statements also offer glimpses into other financial circumstances, including challenges posed by debt.
Democrat Kathleen Matthews is by far the wealthiest of the nine candidates — seven of them Democrats and two of them Republicans — who so far have reports on file with the House of Representatives. Matthews, a former WJLA anchor, and her husband, Chris, host of MSNBC’s “Hardball,” reported at least $22.5 million in cash and securities.
Matthews, 62, reported a $1.4 million salary in 2014, her last full year as Marriott International’s chief global communications and public affairs officer. The disclosure statement does not include her husband’s earnings from NBC Universal, MSNBC’s parent company. While some 8th District candidates listed spousal income, the Matthews campaign cited House Ethics Committee rules requiring only that the source and type of income, not the amount, be reported.
Among joint assets, the Matthewses listed between $1 million and $5 million in Marriott International stock, plus and stock options valued in the same range. They reported a Marriott deferred compensation fund worth $250,000 to $500,000.
The report also discloses holdings of between $250,000 and $500,000 in Blackstreet Capital, a Bethesda private equity firm that purchases financially distressed small and mid-size companies for attempted turnarounds.
The Matthewses list no liabilities. A campaign spokesman said they have retired the mortgage on their Chevy Chase Village home, which City-Data says is assessed at $2 million.
Matthews is expected to be surpassed as the wealthiest candidate when another Democrat, David Trone, submits his report.
Trone, co-owner of Total Wine & More, a national chain of big-box liquor stores, entered the race just before the Feb. 3 filing deadline and is not required to disclose financial information until one month before the April 26 primary. Trone, who according to his opponents’ estimates has already spent more than $3 million on his campaign, plans an almost completely self-funded effort.
Trone’s communications director, Mary Werden, said the campaign intends to report ahead of the legal deadline “and make it public as soon as it is complete.”
State Sen. Jamie B. Raskin (D) reported $350,000 in 2014 income, including $268,000 from his position as a professor of constitutional law at American University’s Washington College of Law. That’s more than twice the median base pay for tenured law faculty in the Washington region, according to the Society of American Law Teachers.
Raskin, 53, a former academic dean who has taught at AU for 25 years, said he has “substantial administrative responsibilities,” including direction of the Marshall-Brennan Constitutional Literacy Project, which sends law students to teach in public high schools.
He also was paid a $40,000 legislative salary; $30,000 from People for the American Way, a liberal advocacy organization for which he writes reports and essays; and $11,000 in publishing royalties.
Raskin also listed a 401(k), valued at $250,000 to $500,000, that belongs to his wife, Deputy Treasury Secretary Sarah Bloom Raskin. They rent out a basement apartment in their home on Holly Avenue in Takoma Park. Raskin listed no liabilities.
Del. Kumar P. Barve, 57, reported income of $81,749 in 2014, the sum of his legislative salary and a part-time position as chief financial officer at a Rockville environmental cleanup firm. His wife, Maureen Quinn, earned $147,000 as a member of the Maryland Workers’ Compensation Commission and adjunct professor of business law at the University of Maryland University College.
Among their assets are two mutual funds valued at between $100,000 and $250,000 and four others worth $50,000 to $100,000. Liabilities are two mortgages totaling at least $300,000 on an Annapolis home. The couple rents an apartment in Rockville Town Center.
Del. Ana Sol-Gutierrez reported her legislative salary and $15,000 to $50,000 in rental income from a Connecticut Avenue apartment once occupied by her parents. Gutierrez, 74, a retired systems engineer who held senior positions at Loral, Computer Sciences Corp. and other firms, has three mutual funds and a Citibank account valued at between $50,000 and $100,000.
Her lone listed liability is an equity line of credit, worth between $100,000 and $250,000, on the apartment.
Former White House aide Will Jawando and his wife, Michelle, owe $165,000 in law school loans from Sallie Mae and the Department of Education. Jawando, 33, earned $60,000 in the first half of 2015 with the Raben Group, a strategic communications firm; his wife earned $65,000 during the same period as a vice president at the Center for American Progress. The couple, who live in Silver Spring, hold two mortgages totaling at least $300,000 on rental property in the Brookland section of the District.
Joel Rubin’s post as deputy assistant secretary of state for House affairs paid $143,000 annually before he resigned last June. He earned an additional $63,000 from Washington Strategy Group, a foreign policy consulting firm. Rubin, 44, owns rental property in Adams Morgan that generates income of $15,000 to $50,000.
David Anderson, a vice president at the Washington Center for Internships and Academic Seminars, earned $180,000 in 2014. Liabilities include balances of between $10,000 and $15,000 on six credit cards. Anderson said he was “a bit over-leveraged” because of a series of unanticipated family medical expenses.
Two Republicans have filed.
Aryeh Shudofsky, 35, earned $54,000 in 2014 and $103,000 in 2015 as a consultant to CRTV, or Conservative Review TV, a political media company.
Liz Matory reported income of $7,200 in 2015 from the Maryland Environmental Service, a independent state agency, and from the unsuccessful D.C. Council campaign of Marion Christopher Barry, son of the late former mayor. She also listed student loan debt of between $100,000 and $250,000. Matory, 35, is a principal at CNXIS Consulting, an organizational consulting firm.
Democrat Dan Bolling and Republicans Dan Cox, Jeffrey Jones and Shelly Skolnick have yet to reach the $5,000 threshold in spending or fundraising that triggers the reporting requirement.