For an Ailing Feinstein, a Fight Over the Family Fortune
“The financial conflict is another element that makes the end of her career sad to people who have known her in the high points of her career,” said Jerry Roberts, author of the biography “Dianne Feinstein: Never Let Them See You Cry.” It was published in 1994, two years after she was elected to the Senate.
Raised in affluence, Senator Feinstein has long been among the wealthiest members of Congress. She was rich in her own right in 1980 when she married Mr. Blum. After she entered the Senate, she placed securities into a blind trust that is valued at between $5 million and $25 million, according to her most recent financial disclosure required of lawmakers.
Combined, the couple’s fortunes flourished to an extent that eclipsed even the senator’s prior standard of living. Her main residence is a 9,500-square-foot mansion in the upscale San Francisco neighborhood of Pacific Heights. Their vacation homes, until recently, included the 36-acre Bear Paw Ranch in Aspen, Colo., which sold in March for more than $25 million, and a seven-bedroom Lake Tahoe compound that sold in late 2021 for a reported $36 million. Current holdings include a property on the Hawaii island of Kauai and a home in Washington, D.C.
Among the backdrops to the fight over Mr. Blum’s estate, however, are questions about the extent of his fortune, as well as the out-of-pocket cost of home health care that Senator Feinstein has received since her bout with shingles earlier this year.
During his lifetime, Mr. Blum, Senator Feinstein’s third husband and a private equity magnate, was often referred to in public accounts as a billionaire. However, people familiar with the family’s finances dispute that characterization and say that Mr. Blum’s wealth was less than some heirs had expected. Mr. Blum’s friends said that the pandemic cut deeply into his investments, particularly his extensive holdings in hotels.
Source: The New York Times
