SACRAMENTO (AP) — Republican candidate for governor Neel Kashkari filed his first financial disclosure form with the state Friday, reporting income of more than $100,000 last year from his former employer but few reportable financial holdings.
Kashkari, best known as the former U.S. Treasury official who oversaw the bank bailout at the start of the Great Recession, reported the income from Pacific Investment Management Co. LLC, better known as PIMCO. Kashkari was head of global investments at the Newport Beach-based investment company until last year.
The GOP contender previously said his net worth was less than $5 million, but he did not report any stock holdings or real estate on his financial disclosure form. His spokesman, Aaron McLear, said all the candidate’s investments are in mutual funds, which are not reportable.
Kashkari also reported receiving baseball and football tickets from his friends Lew and Kelly Jacobs. Jacobs, who was a colleague of Kashkari’s at PIMCO, flew Kashkari and others to the third game of the World Series in St. Louis in October, and the two attended a game between the Cleveland Browns and Kansas City Chiefs in Kansas City the following day, McLear said.
Kashkari is a native of Ohio.
California’s required financial disclosure forms offer only vague insight into candidates’ and elected officials’ income and investments, requiring reporting only in broad categories for salaries and stock holdings.
For example, Gov. Jerry Brown, a Democrat, reported this week that he and his wife own more than $1 million of stock in the fast-food company Jack in the Box Inc., more than $1 million in an Oakland real estate development company and several stocks valued anywhere from $100,000 to $1 million.
The forms do not require more specific details about the total values of those holdings.
A day earlier, Kashkari told reporters that he was surprised how little was required on California’s financial disclosure forms and said he would support changes to require more detailed filings.
“I had to file way more disclosure in Washington, D.C., when I was an assistant secretary of Treasury than I have to file as a candidate for governor of California,” he said.
Assemblyman Tim Donnelly, a Twin Peaks Republican and gun rights advocate who also is running for governor, reported this week that he and his wife have several stock holdings.
They include less than $10,000 invested in gun manufacturer Smith & Wesson Holding Corp. and holdings of less than $100,000 in companies that include Apple Inc., a railroad freight car manufacturing company and Cabela’s Inc., a specialty retailer of hunting, fishing, camping, shooting and outdoor recreation goods.