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A look at the life and fortune of John McCain, who has a sprawling real estate portfolio and donated $1.7 million in book sales to charity
A look at the life and fortune of John McCain, who has a sprawling real estate portfolio and donated $1.7 million in book sales to charity
Hillary HoffowerMay 22, 2018, 23:23 IST
Sen. John McCain, R-Ariz., accompanied by his wife Cindy McCain, pauses after speaking in Phoenix. A Trump administration official says that Cindy McCain is likely to take on a prominent State Department role.Ross D. Franklin/AP
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Senator John McCain has reportedly been spending time at his ranch home in Arizona while battling brain cancer.
He and wife Cindy McCain quietly sit on a fortune of more than $200 million, largely due to Cindy's stake in one of the largest Anheuser-Busch distributors.
Senator John McCain has reportedly been spending a lot of time at his ranch home in Sedona, Arizona, where he's been receiving a flood of visitors as he battles brain cancer, reports Town & Country.
The 81-year-old's new memoir, "The Restless Wave," was released on Tuesday. You may know McCain as the 2008 Republican presidential nominee, a Vietnam war vet, or an advocate for more civil politics.
What you may not know is that McCain and his wife Cindy sit on a private, but hefty fortune.
He's reportedly worth $16 million, according to Celebritynetworth.com. But that's only a fraction of his wealth - the rest comes from his wife, who is an heiress to Hensley & Co., one of the largest Anheuser-Busch distributors.
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She reportedly inherited a major stake in the company and became its chairman when her father, the company's founder, passed away. She currently has a net worth around $200 million.
A prenuptial agreement dictates that the McCains' money is in Cindy McCains' name, reports the New York Times.
John McCain's money comes from multiple sources: his government salary and pension, a sprawling real estate portfolio, and private wealth largely held by his wife.
John and Cindy McCain have a sizable real estate portfolio — not even the senator knew how many houses they owned when asked by a reporter in 2008. In Sedona, Arizona, they own a 15-acre ranch valued at more than $1 million.
But his primary residence is a condo in a 12-story glass building in downtown Phoenix. The McCains reportedly spent $4.67 million on a high-floor apartment in 2006 and bought the unit below for $830,000 almost a year later, combining them into a crib deluxe.
In 2007, the McCains paid $700,000 in cash for a loft at Biltmore Lofts in Phoenix for their daughter, Meghan. They eventually put it on the market for $730,000.
They've also owned three beachfront pads in California, including one in La Jolla, a ritzy beach enclave in San Diego. The 1,429 square-foot condo was sold in 2017 for $1.3 million.
Adding to the beachfront properties are two condos in the same building in Coronado. Cindy reportedly bought the second when she tired of the kids using the first so frequently. The first was purchased in 2004 for $2.6 million and the second for $2.1 million a few years later, which they offloaded in 2014.
On the other coast, the McCains owned a 2,089 square-foot three-bedroom condo in Arlington, Virginia, complete with balconies, patios, and "climate controlled access to the Metro." It was purchased by the Cindy Hensley McCain Trust in 1993 for $375,000, according to public records. It sold for $1.2 million in 2017.
And then there's Cindy McCain's childhood home in Phoenix, which the couple sold to an investor in 2006 for $3.2 million. It came back on the market at $12 million in 2008 and finally sold for $1.8 million in 2011. It has sold two more times since then.
From 2006 to 2007, the McCains increased their budget for household employees from $184,000 to $273,000, according to tax returns, to support an "increase in the number of employees" potentially related to their growing real estate portfolio.
During the 2008 election, it was reported that the McCains owned 13 cars, including a 2004 Cadillac CTS, the senator's personal ride; a 2005 Volkswagen; 2001 Honda sedan; a 2007 Ford truck; a 1960 Willys Jeep; a 2008 Jeep Wrangler; a 2000 Lincoln; a 2001 GMC SUV; and three NEV Gem electric vehicles. That's not to mention a Toyota Prius for Meghan McCain and Cindy McCain's Lexus, which is registered to Budweiser.
Between 2001 and 2006, McCain contributed about $950,000 to the John and Cindy McCain Foundation, which made contributions of about $1.6 million. More than $500,000 went to their childrens' private schools, $210,000 went to the US Naval Academy Foundation in both 2001 and 2002, and large amounts have been donated to various medical causes with a focus on craniofacial research and the HALO Trust, a landmine-clearing organization.
The foundation has also donated smaller amounts, such as $200 to the Valley Youth Theatre in Phoenix, $500 to Cool Our Troops, $350 to the Child Crisis Center in Phoenix, and $50 to the American Cancer Society's Neighborhood Cancer Program.
Nearly $9 million in leftover presidential campaign funds from 2008 were transferred to the McCain Institute Foundation, which was used to establish the McCain Institute for International Leadership at Arizona State University.
