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UPDATE, JULY 21, 12:34 P.M. ET: Sean Spicer resigned from his post as White House Press Secretary Friday morning reportedly due to disagreements with President Donald Trump regarding the hire of Anthony Scaramucci as communications director. In light of this breaking news, Bisnow dug up this gem from our archives.
The White House recently released public financial disclosures on executive branch personnel, revealing a surprising connection between White House secretary Sean Spicer and his boss: real estate.
Though nowhere near as expansive as President Donald Trump's real estate empire, Spicer holds a real estate portfolio worth millions. According to his disclosure, Spicer's overall holdings are worth just under $10M. This includes both commercial and rental properties that account for up to $5.25M. From Rhode Island to Alabama, this is what we know about the press secretary's real estate holdings and wealth, according to the public filing.
1. Virginia Properties
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Maximum Worth: $2.25M
Spicer owns four investment rental properties in Virginia, three in Alexandria and one in Arlington. Together the properties are worth between $1.1M and $2.25M and bring in a maximum of $165K/year in rent.
2. Rhode Island Properties
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Maximum Worth: $2M
Going back to his Barrington roots, Spicer owns three properties in Rhode Island as part of a family trust, of which he is a one-third future beneficiary. Two of the locations are residential properties, one in Barrington and the other in Middletown, and the third is a commercial property in Newport. Together these are worth between $1M and $2M, and while they do produce rental income, the disclosure says this money currently goes to his mother.
3. Alabama Properties
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Maximum Worth: $1M
Spicer and his wife, Rebecca, own two properties in Alabama through a family fund that she is the beneficiary of. While worth less than the others, they are still valued at between $500K and $1M. Both locations are commercial properties in Madison. The Spicers do not currently receive income from these two properties.
4. Other Income
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In addition to his real estate holdings, Spicer made between $45K and $135K in income last year from stock funds and $260K from his job as spokesman for the Republican National Committee. He has roughly $930K in retirement and investment accounts, and McDonald's represents his largest single stock investment. Altogether Spicer has no more than $250K invested in McDonald's, Coca-Cola, Verizon and AT&T.
