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Bush Discloses Ownership of as Much as $18 Million in Assets
by William Roberts and Brendan Murray
Entered into the database on Sunday, May 15th, 2005 @ 23:48:41 MST


Untitled Document May 13 (Bloomberg) -- President George W. Bush and his wife, Laura, reported owning financial assets and property in 2004 valued between $7.8 million and $18.1 million, according to federal financial disclosure forms released at the White House today.

Vice President Dick Cheney's assets last year ranged between $16.6 million and $75.5 million, including cash, investments, deferred compensation from Halliburton Co., stock options, salaries and retirement benefits.

Executive branch officials including the president and the vice president are required to file annual financial disclosure forms in which they list assets within dollar ranges, such as $1,000 to $15,000 or $100,000 to $250,000. Bush valued his Texas ranch at between $1 million and $5 million.

Bush, 58, also reported receiving gifts including $650 gold cuff links and a $400 pocketknife. The most valuable was a $2,700 mountain bike from John Burke, president of Waterloo, Wisconsin- based Trek Bicycle Corp.

Last year, Bush reported assets valued between $8.8 million and $21.9 million in 2003. Cheney, 64, and his wife, Lynne, reported assets between $19 million and $86 million that year.

The biggest asset Cheney disclosed this year was a $5 million to $25 million stake in the Vanguard Short-Term Tax- Exempt Fund, which fell 0.8 percent in 2004. The fund invests in municipal bonds with an average maturity of less than five years and provides income that is exempt from U.S. personal income taxes.

Cheney reported receiving gifts valued at $5,934, including a painting worth $1,600 of a Delaware house, a $120 Namiki pen from U.S. Ambassador to Italy Melvin Sembler and a $400 fly-tying set for fishing.

To contact the reporter on this story:
William Roberts in Washington at
Brendan Murray in Washington