Real Estate, Other Investments, Key to Paul Ryan Fortune
Republican vice presidential candidate and P90X fanatic Paul Ryan owes a bit of his net worth–valued between $927,000 to $3.2 million–to a mix of trusts and inheritances, along with investments that include real estate, according to a recent report.
Mr. Ryan paid upwards of $250,000 for three rental properties in his native home of Janesville, Wisconsin in 1998, for which he collected up to $50,000 a year from tenants, according to Business Insider.
The purchase was financed with a mortgage from Anchorbank SSB.
Mr. Ryan sold the properties in 2001, when they were valued close to $500,000.
The three rental units were owned by the Ryan-Hutter Investment Partnership, according to public documents. Hutter is the maiden name of his mother, Elizabeth.
Other investments by Mr. Ryan include a 10 percent stake in Blondie & Brownie gravel company, which is believed to be valued at $250,000, and Red River Pine LLC, a timber company in which his stake is rumored to be worth upwards to $100,000.
The Wisconsin representative also owned a 21 percent stake in Ryan Limited Partnership prior to joining Congress. That stake, valued at $45,358 in 1998, is now estimated to be worth upwards of $250,000 in 2011. RLP has shares in Altria Group, Amazon.com, Apple and Philip Morris, according to Business Insider.