John Kerry and Teresa Heinz Kerry own five houses worth $33 million

By: Alan Murray, Eamon Javers
Published: 3/30/2004Source: CNBC
ALAN MURRAY, co-host:

And with the political season heating up, one thing's for sure: The battle for the White House is between two very wealthy men. CAPITAL REPORT's Eamon Javers explains.

EAMON JAVERS reporting:

When John Kerry wants to carve some gnarly turns on the slopes in Sun Valley, Idaho, he doesn't rent a hotel room like regular folks. He stays here, a home originally built in England in the 15th century. The cost: almost $5 million. And in the summertime, Kerry can take a dip just feet from this home on Nantucket Island
. The three-story, five-bedroom house is where he married Teresa Heinz. The cost: $9.1 million.

Senator Kerry and his wife share five homes across the country. Value: $33 million in total. Kerry married into a Heinz ketchup fortune worth nearly $500 million. But even for people that rich, five homes is a lot.

Ms. PATRICIA DUGAN (The Corcoran Group): Maybe there are one or two more houses than other people might have, but it's not unusual to see multiresidences within this kind of social strata.

JAVERS: By all accounts, the homes are spectacular. In
Boston, Kerry has this 12-room town house. The value: nearly $7 million. And the couple have a 23-room town house in ritzy Georgetown: $4.7 million. And another home in Pennsylvania, a 90-acre farm outside of Pittsburgh: $3.7 million. So how do people with that kind of money decorate their homes?

Ms. DUGAN: Just taking a blank canvas, and creating a lifestyle that people with money can do. They can pretty much create any dream that they want to.

JAVERS: But Kerry is in good company. President Bush owns a million-dollar-plus ranch in
Texas and visits the family compound in Kennebunkport, Maine.

And Kerry took a mortgage on his
Boston home to raise campaign cash late last year. But doing the same with the rest of the properties will be up to election officials and to Mrs. Kerry. Back to you, Gloria.

GLORIA BORGER (Host): Well, let's see what she says, Eamon.

And up next, why is America Online giving away a Porsche? You can thank a spammer gone wild. We'll explain when CAPITAL REPORT continues on CNBC.
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