White House releases Steve Bannon’s financials

by Megan R. Wilson - 03/31/17 9:12 PM ET

Steve Bannon entered the White House with a minimum net worth of about $10.7 million, according to newly released disclosure forms.

The president’s chief strategist’s assets include the value of his own consulting firms and film companies, in addition to rental property and anywhere from $1.1 million to $2.25 million in cash held in three different bank accounts.

{mosads}Separately, he earned more than $1.3 million in salary in 2016, including $191,000 from Breitbart News, where he worked until he began as Trump’s campaign chief. That money, as well as other income, flowed through his consulting firm Bannon Strategic Advisors.

As its own entity, Bannon Strategic Advisors netted him nearly $494,000.

He received $125,333 in consulting fees from Cambridge Analytica, where he served as vice president and secretary, a favored vendor to President Donald Trump’s presidential campaign. Glittering Steel, his production company, paid him $167,500 in fees.

Bannon is known for holding a financial stake in television shows, such as “Seinfeld.” Those royalties earned him between $50,000 and $100,000 last year.

The ethics portion of his financial disclosure says that Bannon will be selling the equity he owns in Glittering Steel and Cambridge Analytica, the latter of which is worth anywhere from $1 million and $5 million.

He will also dissolve several of his production companies, including Victory Film Group, Victory Film Project, and two similarly named LLCs.

Further, he will be “going dormant” at Breitbart News and Bannon Strategic Advisors, only receiving “passive income.”

Almost all of Bannon’s debt comes from mortgages on his four pieces of “investment property” — totaling at least $1.1 million.

The parent company of one of Bannon’s key assets — Cambridge Analytica — is now vying for government contracts. The firm is largely funded by GOP megadonor Robert Mercer.

SCL Group, based in London, just secured a $500,000 contract with the State Department, according to the Washington Post, though the discussions began before the presidential election.

Tags Donald Trump