Dianne Feinstein, a notable political figure, has reportedly left her substantial real estate properties to the children of her billionaire husband. Despite ongoing disagreements among the heirs, they are slated to inherit these significant assets. The properties are indicative of Feinstein and her husband’s expansive wealth and success in their respective fields.
Feinstein’s Wealth and Properties
Feinstein, who was raised in affluence, has been one of the wealthiest members of Congress for a long time. She was independently wealthy when she married Richard Blum in 1980. After her election to the Senate, she placed her securities into a blind trust valued between $5 million and $25 million, according to her latest financial disclosure. The couple’s combined fortunes have thrived, surpassing even the senator’s previous standard of living. Feinstein’s primary residence is a 9,500 square foot mansion in the posh Pacific Heights neighborhood of San Francisco. Until recently, their vacation homes included the 36-acre Bear Paw Ranch in Aspen, Colorado, and a seven-bedroom Lake Tahoe compound. Current holdings include a property on the Hawaii island of Kauai and a home in Washington D.C.
Questions Surrounding the Estate
However, the fight over Blum’s estate raises questions about the extent of his wealth and the out-of-pocket cost of home health care that Senator Feinstein has received since her bout with Shingles earlier this year. During his lifetime, Blum, a private equity magnate, was often publicly referred to as a billionaire. However, some who are familiar with the family’s financial situation dispute this characterization, suggesting that Blum’s wealth was less than some heirs had expected. The pandemic reportedly significantly impacted his investments, particularly his extensive holdings in hotels.
Dispute Among Heirs
An ugly dispute has arisen among the couple’s children, casting a new light on their fortune and hinting at a potential court battle over the estate. Feinstein’s daughter, Katherine, and Blum’s three daughters, Annette Blum, Heidi Blum Riley, and Eileen Blum Bourgarde, are set to divide the estate four ways. The largest single item in the estate is the couple’s home in San Francisco, a three-story, 1917 Italianate mansion on the famed Lyon Steps, valued at $21 million. However, a disagreement has emerged over a waterfront house in Marin County, California, valued at $7.5 million, which was at the center of a dispute between Katherine and Blum’s daughters this year.
Legacy of Wealth
Feinstein and Blum’s wealth is largely attributed to Blum’s success as an investor and the founder of Blum Capital Partners. Feinstein’s daughter and three stepdaughters are set to inherit the late senator’s $102 million property portfolio, as well as her $62 million private jet. Feinstein leaves behind an Italianate mansion worth $21 million, a Washington D.C. mansion worth $7.4 million, a $5 million Hawaii duplex, a $7.5 million beach house in Marin County, California, and a $62 million Gulfstream G650 jet. The distribution of the portfolio, estimated to be worth over $160 million, is now a contentious issue among the couple’s offspring.