Eliot Spitzer Given Unequal Share of Father’s Estate
After a long battle with Parkinsons, real estate tycoon Bernard Spitzer died at the age of 90 earlier this month. His son, former New York governor Eliot Spitzer, is in line for $6 million more than either of his siblings after the details of his father’s will were revealed.
While Bernard left 10 percent of his $500 million fortune to each of his three children, Eliot was left an additional $6 million to be paid after his mother Anne passes away.
Despite his assertions, this is not the first time Eliot has financially benefitted from his father’s wealth. In 1994, Eliot was given $4.3 million in his failed bid to become the New York Attorney General. Eliot also stayed rent free in one of Bernard’s apartments, and he earned thousands of dollars managing his father’s investments. According to Bernard’s will, all debts owed to him by his children have been written off.
The remaining $250 million was donated to the Bernard and Anne Spitzer Charitable Trust. In his will Bernard wrote, “I am mindful and take pride in the accomplishments of my children and the fact that they are established in life, in largest measure through their own talents and efforts, but as well, if in smaller measure, through the contributions of their mother and mine during our lifetime. It is for these reasons, and not through any lack of love for them, that I have left a substantial portion of my estate to the Bernard and Anne Spitzer Charitable trust.” Through the charitable trust, Bernard helped found the Museum of Jewish Heritage, and gave $15 million to New York’s American Museum of Natural History for the Hall of Human Origins.”
See Chris Pleasance, Eliot Spitzer’s Tycoon Father Left the Disgraced Politician $6 Million MORE Than His Other Two Children, Daily Mail, Nov. 11, 2014.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.