politics

Dianne Feinstein, California Senator Accused of Insider Trading

Dianne Feinstein
Senator Dianne Feinstein U.S. Government

The 86 year-old Democratic California Senator recently sold a bunch of her stocks and it might be insider trading. In addition, Dianne Feinstein along with other politicians including Jim Inhofe and Richard Burr sold stocks worth millions of dollars. Besides, they also reportedly sold the stocks right before the share market came down. Matter of fact, Senator Dianne Feinstein has one of the highest net worth among US senates.

Photo: Dianne Feinstein AP

The senators were having daily briefings about the coronavirus outbreak in the white house before they all sold their shares. Right before the stock market came crashing down, Dianne Feinstein sold shares worth more than $1.5 million dollars. However, all of them claim these transactions have nothing to do with the briefings. Nonetheless, this certainly has become a matter of suspicion.

About Senator Dianne Feinstein:

California Senator Dianne Goldman Berman Feinstein was born on June 22, 1933, at San Fransisco. She was born to her mother Betty, who was a model and her father Leon, who was a surgeon. Further, her grandparents emigrated from Poland and Russia.

Dianne Feinstein
Photo: businessinsider.com

Dianne Feinstein has been able to work as a bipartisan politician throughout her career. Moreover, she has made decisions on whichever issue she believed for. However, she is seen as only a moderately democratic politician. At 86 years old, Dianne Feinstein is the oldest sitting senator in the US government.

Senator Feinstein’s Educational Background:

Feinstein completed her high school from Convent of the Sacred Heart High School in San Fransisco. In addition, she completed her schooling in the year 1951. Following her graduation, she continued her college education at Stanford University.

Thus, in 1955 Dianne Feinstein graduated from Stanford University with an undergraduate degree in Bachelor of Arts in History.

Senator Feinstein’s Professional career:

Dianne Feinstein started her political career as soon as she completed her education. She did her first job was at the CORO foundation in San Fransisco. The following year she joined California Women’s Parole Board and served until 1966.

Dianne Feinstein
AP Photo/Susan Walsh

Later, in 1969, she was elected as the president of San Fransisco Board of Supervisors. She also headed and remained on the board for 9 years. Unfortunately, she also became the target of various terrorist groups. Groups such as the New World Liberation Front during the 1970s due to her position tried to attack her.

Subsequently, she was elected as the mayor of San Fransisco in 1979 and was reelected again in 1983. Dianne won the election for the Senator of California in November of 1922 to an unexpired term of Pete Wilson. She was the most suitable candidate to fill the vacant seat.

As a result, Feinstein became the first female Jewish senator in US history. Since then she has been reelected again and again for the position on 1994, 2000, 2006, 2012 and 2018.

Dianne Feinstein’s major legislative reforms:

The oldest sitting US senator has made various reforms throughout her political career. Such as:

Health Sector Environmental Sectors National Security Crime and Justice
Breast Cancer Research Stamp Fuel economy standards Reviewing CIA Use of Torture Assault Weapons Ban
Phthalate Ban California Desert Protection Protecting America’s Seaports Crime Victims’ Rights
Internet Pharmacies Lake Tahoe Restoration FISA reform Combat Meth Act
Healthy Forests Border Security and Visa Entry Reform National AMBER Alert Network
Headwaters Forest Agreement

How much is Feinstein’s Net Worth and Salary?

Like any other senator in the USA, Dianne Feinstein earns $174,000 per annum as the salary from the government. However, she has other sources of income as well. Her net worth is anywhere between $60- $100 million USD. Due to which, she has also been listed as the 7th richest senator in the USA.

Dianne Feinstein
Sen. Dianne Feinstein. Photo: Tom Williams/CQ Roll Call

Dianne Feinstein’s net worth over the years:

Year Dianne Feinstein’s Net Worth in Millions of Dollars
2006 $79.56
2007 $84.21
2008 $72.38
2009 $77.08
2010 $60.95
2011 $70.73
2012 $68.45
2013 $77.24
2014 $94.25
2015 $79.07

Additionally, Sources of Income and Dianne Feinstein’s net worth/ investment portfolio:

Sector Investment
Lodging/Tourism $15,000,500
Chemical & Related Manufacturing $15,000,000
Carlton Hotel Properties $15,000,500
Dianne Feinstein 1991 Blind Trust $15,000,000
Blum Strategic Equity NA
Blum Strategic partners NA

Moreover, Dianne Feinstein shares her share with a private equity firm called Blum capital. The firm was found by her husband Richard Blum. Furthermore, she also has a considerable investment in trusts and funds as well as money market accounts. Some of the major companies where she has shares invested are:

  1. Fidelity Retirement Fund
  2. IBM corporation
  3. Starbucks
  4. Dupont
  5. JP Morgan
  6. Apple

Feinstein on claims of insider trading:

Reports have claimed that senator Dianne sold her shares after a private meeting on coronavirus. She along with some of her colleagues sold off shares of companies like Apple and PayPal. Right after they sold their shares, the stock market crashed.

So, many people claim that they might have received insider information in the meeting at the white house. And as a result, they sold the shares worth millions of dollars without the public knowing it. But if this is proven to be true, the senator is liable to punishment under the stock act in the USA.

Photo(imgur.com/gallery/hBHq3RM)

On March 20th Feinstein tweeted, “During my Senate career I’ve held all assets in a blind trust of which I have no control. Reports that I sold any assets are incorrect, as are reports that I was at a January 24 briefing on coronavirus, which I was unable to attend.” 

Presently, she has faced tons of criticisms for her attempts to clear the accusations. However, no conclusions can be made unless there are further investigations by officials.

Dianne Feinstein’s personal life: Married Thrice

Dianne has been married thrice throughout her life. She married Jack Berman during the year 1956. But soon after they got divorced in 1959. However, they had their first child Katherine Feinstein in 1957 during the time they were together.

Later she remarried Bertram Feinstein which lasted until he died in the year 1978. Presently, she is married to Richard C. Blum who is am American Banker and businessman. He also heads the Blum capital as the president of the firm.

Most of her assets, she shares with her husband Richard Blum. The investment banker probably has added a ton to her value of net worth. However, this might all crumble down if they are found guilty during their stock sales which are due for an investigation.

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