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Florida Cabinet Members Worth Millions

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(Source: CBS4)

(Source: CBS4)

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TALLAHASSEE (CBSMiami/NSF) – There’s an old saying that it’s good to be the king. It turns out it’s also good to be a member of the Florida Cabinet, at least fiscally speaking.

Cabinet members — Chief Financial Officer Jeff Atwater, Attorney General Pam Bondi and Agriculture Commissioner Adam Putnam — are now collectively worth $9,756,748, up a little more than $900,000 from a year earlier, according to newly filed financial-disclosure reports.

Putnam, whose wealth is tied to the family owned Putnam Groves, continues to be the fiscal pacesetter, with his net worth up to $7.2 million, an increase from $6.49 million in 2011. His net worth had dipped from $6.8 million in 2010, when he was elected commissioner.

Collectively, the trio was worth $8,846,996 a year ago.

Putnam’s 20 percent share of Putnam Groves accounted for $2.8 million, while the majority of his assets are tied in a wide range of investments in Vanguard funds.

His Bartow home was valued at $174,000, while a residence in Tallahassee was appraised at $260,000. He also owns portions of homes in Little Gasparilla Island, Lake Wales and Babson Park.

The former U.S. congressman earned $123,912 in the state job last year.

Atwater reported a net worth of $1,743,229 in 2012, up from $1.6 million when he ran for the statewide office in 2010.

As with Putnam, the increase shows up in part through a rise in the stock market. A Northern Trust IRA account — which includes investments in AT&T, Conoco Phillips, Johnson & Johnson, Lockheed Martin, Pepsico, Phillips 66 and Proctor & Gamble stock and more than $16,000 in gold — is valued at $1.076 million.

Atwater’s North Palm Beach home is valued at $295,000. A banker and former Senate president, Atwater earned $118,517 as CFO.

Bondi’s worth has jumped from $472,696 in 2010, while a candidate for state office, to $780,871 and included a $107,000 increase from a year ago.

Unlike in 2010 when she listed no income, she reported earning $128,499 in the state position last year.

Bondi also maintains the most expensive home among the Cabinet, with her Tampa area residence appraised at $665,000. The property was valued at $635,400 in 2010.

She also reported owing the Suncoast Schools Federal Credit Union just over $301,000, down from $311,000 a year earlier.

Putnam listed owing $118,704 to Bank of America. Atwater’s liabilities totaled $70,839, owed to Bank of America Mortgage, Bank of America and Chase Financial.

(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The News Service Of Florida contributed to this report.)

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