Cantwell still in millionaires’ club

Published 9:00 pm Monday, June 14, 2004

WASHINGTON – With assets totaling at least $2 million last year, Democratic Sen. Maria Cantwell of Washington state remains in the Senate millionaires’ club.

Cantwell’s assets could be worth as much as $10 million, depending on the value of her stock in RealNetworks Inc., the once-thriving Internet media company that helped her spend $10 million of her own money for her closely fought 2000 Senate race.

The company’s stock has declined dramatically in recent years, lowering Cantwell’s overall net worth.

Washington state’s other senator, Democrat Patty Murray, listed an asset range of $350,000 to $750,000.

While Murray remains the least wealthy of the four senators from the Pacific Northwest, her finances brightened from last year, when she had assets worth a maximum of $660,000.

Cantwell’s total asset range was unchanged from last year’s report.

The information was released Monday in annual reports that show senators’ financial holdings, as well as outside sources of income, gifts and travel paid by private interests. Senators earned $154,700 last year, although salaries for leaders were higher.

The disclosure forms use broad ranges and are designed to report the types of investments and liabilities lawmakers have, but not their net worths.

Cantwell, 45, of Edmonds, Wash., trails Sen. Gordon Smith, R-Ore., who once again was the wealthiest senator from the Pacific Northwest last year, the reports show.

Smith and his wife, Sharon, reported assets ranging from $8 million to $33 million, mostly from the frozen vegetable processing company Smith owns.

Sen. Ron Wyden, D-Ore., reported assets ranging from close to $1 million to just under $2 million.

Cantwell is struggling to pay off loans she took out to finance her 2000 campaign, in which she unseated Republican Slade Gorton.

The loans are now worth between $260,001 and $515,001, the reports show.

On the other hand, Cantwell’s 2000 campaign owes her between $1 million and $5 million, and former campaign manager Ron Dotzauer owes her between $15,001 and $50,000, the reports show.

Cantwell’s major sources of unearned income include $15,001 to $50,000 in interest from a note receivable from the 2000 Senate campaign. She also earned interest and capital gains worth less than $1,000 each from a series of retirement funds with RealNetworks.

Murray, 53, of Seattle, reported her Senate salary as her main income. Her largest asset was her husband’s, retirement plan, which was worth between $250,001 and $500,000. Rob Murray is a consultant for Stevedoring Services of America, which loads and unloads ships in Puget Sound.

Murray also listed $50,001-$100,000 in a Fidelity investment fund, and $15,001-$50,000 in a savings account and two equity income fund accounts.