While many Califronian’s dream of owning a home is increasingly becoming out of reach for them, it appears that Newsom received a $3.7 million estate from an LLC owned by his cousin then, a few months later took out a $2.695 million (tax-free) cash-out mortgage on it — and didn’t report the gift on any of his financial disclosure forms as required by law.
One thing that’s become extraordinarily clear to Californians in 2020 is that there’s one set of rules for Gov. Gavin Newsom, and there’s another set of rules for the rest of us. He preaches that we’re all in this together and that we have to sacrifice to “meet this moment,” yet he’s not missing a paycheck.
Something doesn’t look right in this picture when it comes to newsom and his riches. How are you gifted a mansion worth almost $4 Million dollars, not declare it, take a loan on the property and bam… no problem?