Kerry's portfolio could grow with Heinz deal
Teresa Heinz Kerry's personal fortune is reportedly worth as much as $1.2 billion, stemming from her earlier marriage to former Pennsylvania Sen. John Heinz III, who died in 1991 in a helicopter crash. Much of John Kerry's own wealth comes from his own family trusts. Worth as much as $125 million according to his disclosures, Kerry had been the wealthiest U.S. senator until he joined the Obama administration last month.
"I will need to recuse from certain matters involving H.J. Heinz Company because the investment of the trusts in H.J. Heinz Company stock is greater than their investment in other publicly traded stocks," Kerry told the State Department's Deputy Legal Adviser Richard C. Visek on Jan. 8.
Kerry also agreed to bow out when necessary from State decisions that could affect 16 of Heinz' foreign subsidiaries and partners.
The agreement indicated Kerry would complete the divestments and other arrangement within 90 days of his confirmation, which occurred Jan. 29. State officials were not immediately available to comment on the Heinz deal's impact on his finances and divestment plans.
AP Business Writer Seth Sutel in New York contributed to this report.