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Is Rush a Billionaire?

06 May

rush smoking

By all reports, Rush Limbaugh, the de-facto leader of the Republican Party, lives in a 24,000-square-foot Florida seaside estate. He rides in a $450,000 car to the airport to ride in his $54 million jet.

What’s his net worth?

Known revenue includes:

$285 million salary and bonus for 2001 through 2008 ($35m bonus, salary of approximately $31.25m/year)

$400 million salary and bonus from 2009 through 2016 ($100m plus bonus – the exact figure was not disclosed, except for “nine digit bonus” – and $38m/year salary)

So, through his salary itself, he has earned $285 million for current work, $400 million for future. And that only covers back to 2001. Rush has been on the air since 1988. While he certainly earned less in his early days, it can be assumed his salary was significant. Additionally, Limbaugh himself controls 25 percent of the ad slots for each hour of his program, which represents ad dollars that never end up in anyone else’s coffers, which would be quite large, considering his self-estimated 20 million listeners each week.

Rush Limbaugh is close to, or just over the billionaire net worth mark. With at least $685 million, and advertising revenue joined with previous contracts which must be in the hundreds-of-millions range, Rush can be assumed an essential billionaire.

So, can Rush even begin to relate to what is going on in the economy? He is not a little guy. He is nowhere close to being a Joe six pack. Yet, millions of adoring listeners think he’s just like them. OK, ditto-heads, you’ve been duped. Rush Limbaugh is not like you or me. How many of you live in 24,000 square foot homes? Home many of you have cars worth $450,000? How many of you have a private $54 million dollar jet? How many of you make $38 million a year? The answer is clear, not many of you, if any of you at all.

Rush is wealthy enough that when he got caught red handed abusing prescription pain killers he paid no penalty. How many of you would have gotten the same treatment? He spent no time in jail.

When he lost his hearing, due to his drug abuse, he was able to afford the best doctors to perform implant surgery. How many of you can do the same?

He is not a regular guy. He’s your atypical rich Republican fat cat. And like most – if not all – atypical rich Republican fat cats, he doesn’t give a damn about you. The only rights he wants to protect are his own.

He doesn’t want the fairness doctrine reintroduced, not because of his so-called love for the Bill of Rights, but because he’d lose his gravy train.

He doesn’t want President Obama to raise taxes on the top 5% because he’s part of it. It has nothing to do with the nation’s economy; it has to do with his personal economy.

He wants President Obama to fail not out of a love for America’s prosperity; but out of love for Rush Limbaugh’s prosperity.

He defends AIG and the protection of the executive bonuses, because Rush Limbaugh received an obscene $400 million contract extension, coupled with a $100 million signing bonus at a time when Clear Channel Communications is laying off thousands of employees across the country. Rush is a self-inflated, self-promoting, self-indulging phony.

Pay no attention to that man behind the curtain! It’s just Rush Limbaugh bloviating into his golden EIB microphone while Clear Channel Communications burns.

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Posted by on May 6, 2009 in Economics

 

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