THE COME-UP: Incumbents see increases in net worth

THE COME-UP: Incumbents see increases in net worth
(FILE)

NASSAU, BAHAMAS — Several incumbents seeking reelection have seen marked increases in their net worth since they declared for the first time in the 2017 General Election, according to financial disclosures submitted on Nomination Day.

On Friday, some 227 candidates nominated themselves in 39 constituencies for the September 16 general election,

All individuals who sought nomination had to deliver a declaration of qualification and a deposit of $400 to the returning officer at the nomination site, and will only receive that deposit back if they secure at least one-sixth of the votes in their poll.

The Free National Movement (FNM) will rerun 24 of its incumbents, while the Progressive Liberal Party (PLP) — which won four seats in the last election — will run four incumbents, including Golden Isles MP Vaughn Miller, who crossed party lines last year.

Topping the list of incumbents seeing growth in their financials is businessman and Progressive Liberal Party (PLP) Deputy Leader Chester Cooper, who saw his net worth double in the past four years from $7.9 million to $14.8 million to date.

Cooper, who was a political newcomer in 2017, entered politics as the wealthiest candidate vying for a Family Island seat in the last election and now is the incumbent candidate with the second-highest net worth next to Freetown incumbent Dionisio D’Aguilar with a total net worth of $37.9 million.

The Superwash owner who was also a first-time front-line politician declared a total net worth of 29 million in 2017 citing some $25.8 million in securities and nearly $3 million in real estate.

D’Aguilar’s securities/investments increased to $32 million during his four-year tenure in office.

Prime Minister Dr. Hubert Minnis and Killarney incumbent continues to see his fortune rise over the years and has declared a net worth of $14 million.

When he was nominated in 2007, Minnis declared a net worth of $7.1 million; in 2012 he declared $10.9 million, and in 2017 he declared $12.6 million.

Progressive Liberal Party (PLP) Leader and Cat Island, San Salvador and Rum Cay incumbent Philip “Brave” Davis had a net worth of $4.3 but now declares his net worth at $4.1 million.

Of note, Bains and Grants Town incumbent Travis Robinson had a net worth of $7,300 when he was nominated in 2017, but saw that grow in four years to $147,000.

Mount Moriah incumbent Marvin Dames, who had a listed net worth of $1 million in 2017, now has a net worth of $2 million; Elizabeth incumbent Duane Sands, who had a net worth of $6 million, now declares a net worth of $6.9 million.

Additionally, North Eleuthera incumbent Howard “Rickey” Mackey listed his net worth just over $5 million in 2017 and now declares his assets at $5.9 million; and Golden Gates incumbent Michael Foulkes, who listed his net worth at$1.1m four years ago and now declares his assets at $1.2 million.

Meanwhile, other first-time incumbents were among the 65 candidates that declared a net worth of one million dollars or more.

This includes: Marathon incumbent Jeffrey Lloyd with a net worth of $1.1 million; Long Island incumbent Adrian Gibson, $1.2 million; Marathon incumbent Romauld Ferreira, $1.6 million; Marco City incumbent Michael Pintard, $2.9 million; North Abaco incumbent Darren Henfield, $1.1 million; North Andros and Berry Islands incumbent Carlton Bowleg, $1.7 million; and Tall Pines incumbent Donald Saunders with $1 million.

Other candidates seeking to retain their seats include Bamboo Town incumbent Renward Wells with a net worth of $308,138; Carmichael incumbent Desmond Bannister with $292,890; Yamacraw incumbent Elsworth Johnson with $898,826; Southern Shores incumbent Frankie Campbell with $807,486; St. Barnabas incumbent Shanendon Cartwright with $583,981; and West Grand Bahama and Bimini incumbent Paskeisha Parker-Edgecombe with $152,591.

Central and South Eleuthera incumbent Hank Johnson who declared a net worth of $555,195; MICAL incumbent Miriam Emmanuel with $922,525; Pinewood incumbent Reuben Rahming with $845,876; and Central Grand Bahama incumbent Iram Lewis with $858,500.

Opposition incumbent Glenys Hanna-Martin has a net worth of $990,889 and Vaughn Miller declared $750,629.

The other incumbents trying to retain their seats include, Nassau Village MP Halson Moultrie, Centreville MP Reece Chipman; and Pineridge MP Frederick McAlpine — who are all running as independent candidates.

Moultrie declared a net worth of $1.6 million; Chipman declared $2.2 million, and McAlpine declared $260,056.

The candidate declarations were gazetted in The Tribune on Monday.

About Sloan Smith

Sloan Smith is a senior digital reporter at Eyewitness News, covering a diverse range of beats, from politics and crime to environment and human interest. In 2018, Sloan received a nomination for the “Leslie Higgs Feature Writer of The Year Award” from The Bahamas Press Club for her work with Eyewitness News.