Gubernatorial candidate Philip Levine says he'll place his assets in a blind trust if he's elected governor of Florida, a decision intended to enable the $133 million man to govern without conflicts under state law by handing control of his investments to a third party.
"I think when you're the CEO of an $89 billion organization, I'm not so sure you have time to run anything else,'' Levine said Monday in Tallahassee after explicitly disclosing his net worth and assets for the first time in his political career. "When you become governor, your number one priority is to be governor 24/7. I only wish that the same law in Florida would apply to the presidency — full disclosure and everything else."
Levine made the commitment while opening a Tallahassee regional office for his campaign, and shortly after filing a detailed financial disclosure with the Florida Division of Elections in order to make the August Democratic primary ballot. Levine declared his net worth at $133 million — or about five times the $25 million he said he might be willing to invest in his own campaign when he announced he was running for governor.
Though Levine filed five years' worth of financial disclosures with the city of Miami Beach during his 2013 run for public office and his four ensuing years as mayor, those disclosures were limited in scope and did not require him to explicitly explain the value of his investments or his annual income. On Monday, he laid out an array of stocks, securities and funds that altogether were worth $140 million — minus an $8.3 million liability with City National Bank — and brought him more than $5 million in revenue last year.
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