Television made Dr. Oz rich, but now we have a better idea just how rich.The celebrity doctor Mehmet Oz, whose TV career was given liftoff by Oprah Winfrey and who left it behind to run for the Senate in Pennsylvania, has a personal fortune of $76 million to $300 million, he disclosed Wednesday night in a government filing.The assets, which Oz owns solely or jointly with his wife, include a large private investment in the iconic Pennsylvania gas and convenience chain Wawa, as well as far-flung properties in New Jersey, Pennsylvania, New Hampshire, Florida and Turkey, from which his parents emigrated before he was born.Last year, Oz bought a cattle farm in Okeechobee, Fla., whose cows are worth up to $500,000. A home he owns in Palm Beach, Fla. is valued between $5 million and $25 million. Precise figures can’t be determined because the financial disclosure, required under federal law, asks for asset values in a broad range.But this much is clear: If elected, Oz would be one of the wealthiest members of the Senate. Building on his celebrity, he has used his fortune to propel himself toward the top of the Republican field in one of the country’s most expensive primary races. He put in $5.3 million of his own money last year, and he may well report adding more in a new campaign filing later this month.Oz, 61, is vying for the G.O.P. nomination in what is widely viewed as one of the nation’s most pivotal Senate races, to fill the seat of a retiring Republican, Pat Toomey. Republicans view it as a must-win race for control of the Senate. Democrats regard Pennsylvania, which President Biden narrowly won in 2020, as a chance to offset potential losses by the party’s most vulnerable incumbents in states like Georgia and Arizona.To reach the general election, Oz will have to emerge victorious from a nasty slugfest with another superrich first-time candidate, David McCormick, the former chief executive of Bridgewater Associates, the world’s largest hedge fund. McCormick, who has not yet filed a financial disclosure, must do so at least 30 days before the May 17 primary.Together, Oz, McCormick and several super PACs funded by their wealthy supporters have juiced the rivalry with more than $37 million in advertising, largely on television, according to Ad Impact. Pro-McCormick super PACs have gone after Oz as a closet liberal. A super PAC backing Oz has denounced McCormick as soft on China.Although Oz often criticizes Big Tech on the campaign trail, and he has sought to appeal to Trump-centric primary voters by opposing “big government, big media and big business,” his disclosure shows he has huge investments in some of the country’s largest companies, including Amazon, Apple and Alphabet.Before running for office, he presided for more than 12 years over “The Dr. Oz Show” on daytime TV, which he co-produced with Winfrey’s company. He reported earning $2.2 million last year as the show’s host and supervising producer and another $7 million as an owner of Oz Media, which co-produced the show. It went off the air in January.Another source of 2021 income was paid speeches: Oz earned $120,000 to address a medical foundation in Texas and $125,000 to speak to the American Pistachio Growers trade association in California. (He once promoted a pistachio protein shake through his show.)At a forum for Republican Senate candidates last week, Oz said he had gladly walked away from his lucrative show and its spinoff enterprises to seek public office. “I decided that I would burn the boats,” he said. “Give up a television show — the top health show in the world. Thirteen years. Ten Emmy Awards. Stop all the books. I’ve sold 20 million books, probably. Stop the businesses.”ImageKathy Barnette, left, Oz and George Bochetto during a forum last weekend for Republican Senate candidates in Pennsylvania.Credit...Matt Rourke/Associated PressHe said the choice felt “cathartic almost,” because public office was “perhaps the most important contribution you’ll make.”After clashing on the airwaves, Oz and McCormick finally met on the same stage at the business-sponsored forum, held in Erie. McCormick swiped at his rival over his position on fracking, a top issue in energy-rich Pennsylvania.“Mehmet, on your shows and in your columns, you’ve argued for more regulation in fracking,” McCormick said. “You’ve made the case that there’s health effects from fracking. And you’ve argued for a moratorium in Pennsylvania.”“That is a lie and you know it’s a lie,” Oz objected. “You’ve been running those ads over and over again claiming things you know are dishonest.”The moderator squelched the back-and-forth, reminding candidates that the forum was not a debate and that they had agreed to rules barring personal criticismsBy: Trip Gabriel
Title: Wawa Stock and $500,000 in Cattle: Dr. Oz’s Senate Bid Reveals His Wealth
Sourced From: www.nytimes.com/2022/04/07/us/politics/dr-oz-pennsylvania-senate.html
Published Date: Thu, 07 Apr 2022 23:00:05 +0000
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