Photo: Getty Images / Streeter Lecka
The “Oracle of Omaha” Warren Buffett’s Berkshire Hathaway and investment firm 3G Capital are buying ketchup maker Heinz for $28 billion.The stock is up over 20 per cent in the pre-market.
Everyone is probably wondering how much Secretary of State John Kerry and his wife Teresa Heinz Kerry, the Heinz ketchup heiress, might make from this deal.
All members of the Senate, House, Executive branch and Judicial branch are required to disclose assets belonging to their spouse and/or dependent children, according to Open Secrets.
It’s unclear what the more recent number is at this time, but for purposes of this report, we’re going to use that number and do some simple maths.
From December 30, 2011 through February 13, 2013 the stock moved up 11.92 %, data from Yahoo! Finance shows. That would put the valuation of that Heinz stake at about $3,357,603 at yesterday’s close.
Today the stock is up about 20% on the Buffett news so that would be another increase of ~ $671,520 putting the asset valuation of the Heinz stake at $4,029,123, according to our calculations.
Not too bad.
Again, it’s unclear what the real asset valuation of his HJ Heinz Co stake is at this time or if he bought or sold shares since 2011.
Back in January when it was certain Kerry would be confirmed as Secretary of State, the Boston Globe reported that he and his wife agreed to divest a bunch of his investments in both here in the U.S. and abroad to avoid any possible conflicts of interest in his new role.
However, there was no mention of the Kerrys divesting Heinz in the report.
Here’s what he agreed to do with that, according to Boston Globe’s Bryan Bender:
As for other holdings, such as his wife’s stock in the H.J. Heinz Co., Kerry pledged to “not participate personally and substantially in any particular matter that has a direct and predictable effect on my financial interests or those of any person whose interests are imputed to me, unless I first obtain a written waiver.”
Watch below how economist Paul Krugman thinks we should be taxing the rich:
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