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Sen. Feinstein lists $41M vacation estate, raising eyebrows and plenty of questions

June 26, 2021 | | Print Article

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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.

Look:

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:

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.

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.”

Look:

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.

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Vivek Saxena
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