Former cable industry executive Jeffrey Marcus, President
Bush's ambassador-designate to Belgium, has an estimated net worth of between $70
million-$247 million, according to his federal financial disclosure released
late Friday by the U.S. Office of Government Ethics.
Marcus listed assets and liabilities for himself and his wife, Nancy, in a
72-page report that showed that he continues to invest in the cable sector, holding
the stocks of Comcast Corp., Cablevision Systems Corp. and Cox Communications
Inc.
However, the bulk of Marcus' assets were held in municipal bonds.
As permitted by the forms, Marcus reported his wealth within broad dollar
ranges.
For example, Marcus said he owned between $1.2 million-$5.5 million of
Clear Channel Communications Inc. stock.
He also held 2.1 million Clear Channel stock options, but based on the
radio station owner's Friday closing price of $40.40, the options did not appear
to be profitable.
Marcus, who gave a reported $275,000 to the Republican Party during the 2002
election cycle, was nominated by Bush June 25.
On Wednesday, Marcus is scheduled to testify before the Senate Committee on
Foreign Relations.
Marcus, currently chairman and CEO of J&N Ventures Inc., sold his cable
company to Microsoft Corp. billionaire Paul Allen's Charter Communications Inc. in 1998 for
$3.3 billion.
Marcus holds a minority stake valued at $5 million in the company that owns
the Dallas Stars National Hockey League team and the Texas Rangers Major League Baseball club.
In 1998, he invested $2 million in Lone Cypress Co., which owns the storied
Pebble Beach golf course in Northern California.
