2012 presidential hopeful Michele Bachmann and her husband Marcus could be worth up to $2.8 million, but owe as much as $750,000 in outstanding loans, according to 2010 financial disclosure documents filed late last week.
The filings reveal that the Bachmann’s largest assets are her husband’s Christian psychotherapy clinic — which is worth at least $600,000 and generated as much as $100,000 in gross income in 2010— and the Bachmann Family Farm, valued between $500,000 and $1 million.*
Bachmann has said that she and her husband “have never received a dime from the farm,” which received nearly $260,000 in federal agriculture subsidies between 1995 and 2008. According to the filings, however, the Bachmanns earned between $5,000 and $15,000 in income from the farm in 2010.
Overall, Bachmann’s reported assets total between $1.3 million and $2.8 million. But the Bachmanns also owe sizable debts, including between $250,000 and $500,000 on the mortgage for their clinic in Lake Elmo, Minn., and an outstanding business loan worth between $100,000 and $250,000.
While Bachmann is clearly better off than the average American, she is by no means the wealthiest candidate in the race. That distinction goes to Mitt Romney, who is worth as much as $264 million.
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*Federal lawmakers can list their income and assets in a broad range.
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