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Fact check: Kashkari's finances

09/04/2014 7:34 PM

09/04/2014 7:35 PM

Brown’s claim: Kashkari is a wealthy banker.

The truth: Kashkari, a former Goldman Sachs executive and U.S. Treasury Department official, estimated his net worth at less than $5 million before he spent about $2 million of his own money in the primary election.

It is unclear whether he is wealthier than Brown. Despite the governor’s reputation for frugality, he and his wife, Anne Gust Brown, own more than $1 million in stock in Jack in the Box, the fast food company, and Brown reported another interest worth more than $1 million in Madison Park Holdings Inc., a developer and real estate manager. Brown has not said how large those investments are, and he has smaller interests including stock in Health Fusion Inc., a medical office software company, and Gap Inc., where Gust Brown was once an executive.

Kashkari has volunteered to release tax returns for as many years as Brown will, a challenge Brown has avoided.

Capitol Alert staff

Amy Chance
Political editor

Dan Smith
Capitol bureau chief

Jim Miller
California policy and politics
Capitol Alert editor

David Siders
Brown administration

Christopher Cadelago
California politics and health care

Jeremy B. White

Alexei Koseff
Insider Edition editor


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