Tag Archives: 2008 financial meltdown

A small fortune, on a relative scale

Retired Wall Street kingpin Bruce Lisman, the Millionaire Who Would Be Governor, released his financials on Monday. Interesting, because (a) candidates usually release financials after Tax Day, so their most recent tax returns are included, and (b) it’s Christmas Week, when relatively few are paying attention. Kind of a newsdump, in other words.

The topline? Lisman’s net worth is $50.9 million.

Sounds like a lot. But my first thought was: I expected more.

After all, this is a guy who was in the top ranks of Bear Stearns, a very lucrative Wall Street firm. Well, it was “very lucrative” until it melted down into a small puddle of goo in the 2008 financial crisis.

And after all, this is a guy who in 2009 sold his Manhattan residence — a four-bedroom pad overlooking Central Park, not far from the Metropolitan Museum of Art — for almost $13 million. And his current manse in Shelburne is worth just under $6 million. With real estate exposure like that, I’d have expected a higher net worth.

There are possible explanations.

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