Bloomberg grows his Hamptons estate, reveals overseas bank accounts
Mayor Michael Bloomberg now owns 13 properties around the world, including three pieces of property in Southampton.
In addition to the $20 million, 35-acre Ballyshear estate he bought in 2011, he has acquired an adjacent home and, separately, a neighboring 4.8 acre piece of "vacant unimproved land."
He acquired the additional properties last summer, and they each cost him at least $500,000.
That is in addition to his estate in North Salem, N.Y., which includes two houses and where his daughter Georgina rides horses; his home in Armonk; his condo in Vail, Colo.; his mansion in Bermuda; a condo in New York City that he acquired 13 years ago; a house in Wellington, Fla.; his London estate; his Upper East Side brownstone; and the Upper East Side headquarters of his philanthropic operations.
Bloomberg's property interests, and other details about his personal financial goings-on, are detailed (vaguely) in his Conflict of Interest Board financial disclosure report and a version of his 2012 tax returns, both of which were made available for review by reporters this afternoon in the offices of Bloomberg's longtime accountant, Geller & Company.
Bloomberg disclosed for the first time this year that he has personal HSBC bank accounts in London, Paris, Bermuda and Hong Kong, in addition to his accounts in America. Together, those foreign accounts accrued between $250,000 and $500,000 in interest. At their height last year, they had more than $500,000 in each of them, except for the account in Bermuda, which had no more than $100,000.
"It's diversification of where he's storing his money," said his spokesman Marc LaVorgna, who emphasized that the mayor pays income tax on those accounts, and that they are not tax havens.
Some other notable sources of income for the billionaire mayor: Bloomberg, a card-carrying SAG member, continues to receive residuals from his bit appearances on "Law & Order" and The Adjustment Bureau, starring Matt Damon and Emily Blunt.
The mayor also gets paid every time his daughter, an accomplished equestrian, wins a prize on a horse he owns: last year, the mayor took in less than $5,000 in income from a Princeton Show Jumping competition and again from the Fieldstone Summer Showcase in Halifax. ("Bloomberg captured victory by completing two fault-free jumping courses in a time of 35.528 seconds in the $7,500 UBS Financial Welcome Stake," reported the Patriot Ledger.)
Bloomberg also took in some interest from a bridge loan he gave his ex-wife, Susan Bloomberg, and which she repaid in full, and on a separate loan he issued to his daughter Georgina.
The mayor also keeps a Vanguard account, something more typically associated with the non-billionaire class. It has no more than $500,000 in it.
The mayor's federal tax rate was 34.69 percent, but that does not include deductions related to his vast charitable contributions, which totaled $370 million last year.
Meanwhile, Bloomberg's household continues to cost him more than $500,000 in total wages and between $250,000 and $500,000 in combined Social Security, Medicare and federal income taxes.