Risky Business A Tale of Two Giulianis

[EV_Ares]

by Michael Shnayerson January 2008 - Vanity Fair

On the back of 9/11, Rudy Giuliani refashioned himself as a national hero, a top presidential candidate—and, through his consulting firm, Giuliani Partners, became a very wealthy man. But the questionable backgrounds of some of the firm’s clients make one wonder what Rudy wouldn’t do to make a buck. As Giuliani’s former crony Bernard Kerik faces trial, the author uncovers troubling signs of greed, poor judgment, and conflict of interest.

On a late-spring day in 2001, Rudy Giuliani’s divorce lawyer stood on the steps of the New York State Supreme Court Building and told reporters the shocking truth. His client, the mayor of the city—beleaguered by an angry wife who wanted more money—had only $7,000 to his name.

Perhaps it wasn’t quite the truth. Just a year earlier, the mayor had $400,000 to $800,000 in pension and retirement funds due him, and now he had a $3 million book deal. Still, in New York City, what was that for a powerful man of 57? Not much.

Three months later came 9/11.

Whatever deal Donna Hanover finally struck to end her marriage, she must feel cheated, because Giuliani is now worth somewhere between $18 million and $70 million. A chunk of his personal fortune has come from giving speeches, month after month, for a standard fee of $100,000. Much of it, though, has been earned as founder and chief rainmaker of his consulting company, Giuliani Partners. Headquartered in a 24th-floor office overlooking Times Square, it has reportedly earned more than $100 million in the past six years.

entire article @ Vanity Fair link: http://www.vanityfair.com/politics/features/2008/01/giuliani200801