Dianne 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.
The California congresswoman, who died in DC Friday aged 90, leaves behind an Italianite mansion with stunning views of San Francisco Bay that’s worth $21 million.
Democrat Feinstein – whose vast wealth raised eyebrows – died in a Washington DC mansion she owned that’s worth $7.4 million.
She also owned a $5 million Hawaii duplex, $7.5 million beach house in Marin County, California and a $62 million Gulfstream G650 jet she used to shuttle between her property empire.
Feinstein’s already-vast coffers were further swelled by the sale of two other enviable homes in recent years – an Aspen ranch sold last year for $25 million, and a Lake Tahoe compound sold for $36 million. She is also believed to have had around $70 million cash in the bank.
Much of her wealth has stemmed from her billionaire second husband Richard Blum, the financier and founder of investment firm Blum Capital Partners, who passed away in February 2022. Feinstein has one daughter, Katherine, as well as three stepdaughters with her late spouse.
But the portfolio, estimated to be worth upwards of $160 million, is now the subject of a tense argument between the couple’s offspring, according to the New York Post.
Feinstein’s San Francisco home was built in 1917 and looms large over the picturesque Bay area, with estimates placing its value at $21 million
Following the death of her husband in 2022, Feinstein offloaded her sprawling 36-acre Bear Paw ranch in Aspen, Colorado for $25 million
The longtime lawmaker jetted between her lavish properties in a Gulfstream G65 private jet (seen in a stock image), which go for over $61 million pre-owned
Much of Feinstein’s considerable wealth was fueled by her political clout and marriage to financier Richard Blum (pictured together)
An ugly court battle over the cluster of mansions has already erupted after Feinstein’s daughter and power of attorney Katherine sued the marital trust that the senator and Blum held much of their properties and bank accounts in.
After Blum passed away from cancer aged 86 last year, Feinstein inherited an annual income of $1 million through his trust, which was held separately from the marital trust.
Following Feinstein’s death, her daughter Katherine, a San Francisco judge, is set to share the couple’s sprawling estate with Blum’s three daughters Annette Blum, Heidi Blum Riley and Eileen Blum Bourgarde.
How they divide up the portfolio remains to be seen – with the couple’s San Francisco home likely the largest point of contention as one of the most expensive properties up for grabs.
The lavish home, built in 1917, is a striking mansion situation on the city’s iconic Lyon Steps with panoramic views over the San Francisco Bay.
Valued at $21 million, the home is almost three times as valuable as her DC pad in the upmarket American University Park neighborhood, appraised at $7.4 million.
It was constructed in 1936 and features stunning landscaped gardens including a pool house and a guest house. Feinstein purchased the home in 2001, nine years after she first entered the Senate, for $5.1 million.
Feinstein’s San Francisco mansion is situation on the iconic Lyon Steps
Bouquets of flowers were left outside her San Francisco mansion following the trailblazing senator’s death
The senator died with a personal net worth of almost $70 million, aided by the sale of her Aspen ranch last year
The stunning 36-acre, seven-bedroom Colorado estate boasted stunning mountain range views and extensive woodland
The DC home, however, was not part of the marital trust between Feinstein and Blum, and is reportedly set to go to her daughter Katherine.
As she split her time between the east and west coasts, Feinstein and Blum had it easier than most thanks to their G650 private jet, which is worth a staggering $61 million pre-owned, according to Aircraft Cost Calculator.
While Feinstein was known for living a luxury lifestyle not always on offer for Washington officials, she rented out her Hawaii duplex in Kauai for an extra financial boost.
The Hawaii condo, worth $5 million, was leased by the longtime lawmaker alongside another tropical paradise in Stinson Beach, California.
Her West Coast getaway in Marin County rivalled her views of the Bay in San Francisco with a Bolinas Lagoon vista, and added to her hefty portfolio valuation by $7.5 million.
Feinstein’s daughter has claimed that the senator wanted to sell the Stinson Beach property after Blum’s death, saying she would never visit it without him, which has led the home to become a focal point of the portfolio battle.
Katherine sued the marital trust earlier this year as she claimed Blum’s daughters were purposefully holding up the sale so they could continue using it.
A point of contention in the family portfolio dispute is a $7.5 million home in Stinson Beach, California, which Feinstein’s daughter claims she wanted to sell after her husband’s death
She has also claimed that the delay in selling the home has left funds in limbo that would go towards medical expenses, according to the LA Times.
Earlier this month, a judge ordered the case be resolved by private mediation which will likely see the warring factions extend their case into next year.
According to an investigation by Politico, it appeared that the legal battle was being carried out almost entirely separately from Feinstein as she struggled with ailing health in her final years.
While the properties left behind may become a hostile focal point for Feinstein’s children, it comes as the portfolio was reduced by the senator as she sold two of her mansions in the last years of her life.
Following the death of her husband in 2022, Feinstein sold her sprawling Bear Ranch home in Aspen, Colorado for $25 million.
The huge 36-acre mansion boasted stunning mountain range views, extensive woodland and seven bedrooms.
She was also able to offload another seven-bedroom behemoth in Lake Tahoe, California, which was snapped up for a striking $36 million – $10 million less than it was originally listed for.
The marital trust also included Feinstein and Blum’s expansive bank accounts, which were reportedly holding funds in the region of $6 million to $30 million.
Feinstein and Blum are pictured above celebrating their engagement with champagne
Feinstein and Blum above are pictured in 1992 celebrating her Senate win
Feinstein also held up to $25 million in a blind trust, according to the Post, alongside a pension valued at up to $1 million.
While she earned a reputation as one of the shrewdest political operators in the Capitol, much of Feinstein’s financial clout has been fueled by Blum.
He poured considerable funds into her early political career, including helping her finance a campaign to defeat a recall election in 1983 when she was San Francisco’s first female mayor.
Blum reportedly helped her scrape together $400,000 for the effort, and also injected $3 million into her unsuccessful run for governor of California in 1990.
Source: | This article originally belongs to Dailymail.co.uk
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