How did the former CEO float $500,000 for his campaign? A hodgepodge of corporate director fees and investments has filled his pockets.
Republican presidential candidate Herman Cain has collected over $680,000 in corporate director fees and stock-option exercises since the beginning of 2010, according to a just-released financial disclosure form. The paperwork also indicates that the former Godfather's Pizza CEO used some of his personal wealth to float his campaign a loan worth upwards of $500,000.
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Cain also reported a salary of $165,183 over that period from Cox Radio, where he hosted his own radio show until February of this year. His financial disclosure form provides the first peek into the financial holdings of the suddenly red-hot Republican contender. Unlike his rivals, who as former officeholders have long had to make their finances public, Cain has never had to share details of his holdings. He asked for--and received--a 90-day extension for filing the form released on Wednesday.
The candidate whose anti-Washington message and sunny campaigning style have rocketed him to the top of Republican primary polls listed assets between $100,001 and $250,000 in each of three entities:
- The Coca-Cola Company;
- A checking account with SunTrust Bank;
- A SunTrust money market.
The federal financial disclosure forms that presidential candidates are required to complete ask them to list assets and liablities in broad ranges of value rather than specific amounts.