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California Sen. Dianne Feinstein, a lifelong politician, is so wealthy that she’s reportedly linked to a $41 million Lake Tahoe vacation property.
To be fair, the property is linked to both her and her husband, billionaire investor Richard Blum, the chairman and president of Blum Capital.
“A rustic retreat in California’s vacation mecca of Lake Tahoe linked to Sen. Dianne Feinstein and her investment banker husband, Richard C. Blum, has surfaced on the market for $41 million,” Realtor.com announced this week.
“The property is owned by an LLC tied to Blum’s investment management firm, Blum Capital. The waterfront compound briefly tested the market in October 2020 with a $46 million asking price. Now, the property is back at a slightly lower, yet still prodigious price,” it added.
The property is comprised of three homes that together contain 10,343 square feet of living space, including seven bedrooms and seven bathrooms. There’s also a sand beach and a pier.
She photos of the property in the KOVR news report below:
Because of Feinstein’s record as a lifelong “public servant” — one who started out on the San Francisco Board of Supervisors back in the early 1970s before being voted into office as mayor and then later as a senator — the fact that she’s linked to such a massive, luxurious property triggered some alarm bells on Twitter.
How the hell does someone working in Government their entire life afford a $41m house? This country is beyond screwed.
— GunnyRollsDolo (@BlackBriar21) June 25, 2021
Let that marinate. A senator has a 41 million summer home
— Jeff Van Sloten (@JeffVS50) June 26, 2021
The Chinese money buys a lot
— roberto lerebours (@Robertinno53) June 25, 2021
Damn! Maybe I should get into politics
— Tzvi Chein (@TzviChein) June 25, 2021
$41M Lake Tahoe estate? Politics pays pretty good!
— Daniel Haug (@hauda01) June 25, 2021
She earns $240,000 a year and saved $41,000,000. Nice job public servant!
— Michael T. Maloney (@mtmjr77) June 25, 2021
Two words “ term limits”
— Eileen Boyle (@BoyledotEileen) June 25, 2021
However, as noted earlier, she’s married to an extremely wealthy man, not that this necessarily excuses her.
For one, it seems very telling to critics how a simple ol’ “public servant” managed to nab a billionaire as a husband:
It’s one big club and we’re not in it.
— Jackalope (@LeVulgarien) June 25, 2021
Second, Feinstein has repeatedly faced accusations of insider trading.
In early 2020, her husband reportedly sold off $6 million of a biotechnology stock right around the time that she was briefed about the coronavirus pandemic potentially hitting the United States.
She denied involvement in her husband’s stock trade, though federal authorities still reportedly wound up questioning her about them.
“[L]aw enforcement officials asked Ms. Feinstein ‘basic questions’ about stock transactions made by her husband during the period in question, her spokesman, Tom Mentzer, said on Thursday. He said Ms. Feinstein complied and provided documents that showed she had no involvement,” The New York Times reported at the time.
I asked Feinstein’s office about this. Her press secretary said: “All of Senator Feinstein’s assets are in a blind trust. She has no involvement in any of her husband’s financial decisions.” https://t.co/yY6HQbtPVu
— Charles Я. Davis (@charliearchy) March 20, 2020
Earlier this year, she again made headlines when she admitted that she’d failed to disclose some of her husband’s stock dealings and offered to pay a fine in penance.
“I was recently notified of a previously unreported transaction conducted by my spouse on August 3, 2020. This transaction involved the $15,001-$50,000 purchase of shares in a private company, College Reaction LLC,” she wrote in a letter to then-Senate Secretary Julie E. Adams.
She added, “I recognize that this untimely filing carries a monetary penalty, which I will pay upon notification from the Senate Select Committee on Ethics.”
But there’s more. Allegations of insider trading have, in fact, dogged the senator since 2000.
“An investment fund backed by the husband of U.S. Sen. Dianne Feinstein pumped millions of dollars into firms doing business in China while Feinstein was boosting expanded trade between China and the United States,” the San Francisco Chronicle reported that year.
“In May, before she voted for a measure that normalized trade with China, she said through a spokesman that Blum had divested of his last holdings in mainland China in 1999,” the Chronicle added.
But that turned out to be false.
“Public records show a venture capital firm backed by Blum’s investment bank owns millions of dollars worth of stock in corporations doing business in China. … And in the past two years, the firm has pumped more than $400 million in U.S. venture capital into East Asian businesses in hopes of profiting from the region’s rebounding economy,” according to the Chronicle.
Because of this record, there is a persistent belief — one made all the more plausible by the latest finding about her lavish vacation property — that behind Feinstein’s gentle smile is a ruthless hustler who’s all about the Benjamins.
this is what years and years of stealing , insider trading & secret sweetheart deals gets you !
— JS (@JsWittywitty1) June 26, 2021
I guess that legal-for-Congress insider trading has been good to her. Too bad we can’t unless, y’all know, we risk serious time.
— Just_Politics (@JustPolitics11) June 26, 2021
$160k/year goes a looooong way when you boost it with insider trading
— No Thanks (@uncom4tablytrue) June 26, 2021
No, this is fraud. She passes insider information to her husband for trading. Then they deny it. As long as you let your spouse do all the trading, and you are a democrat, you can get away with it.
— 1 (@truthis18) June 25, 2021
As a Senator she always, without fail, bought at the right time, entirely due to insider information. One should probably regard her selling of major assets in the same way.
— Ken Bannan (@bannan_ken) June 26, 2021
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