If elected, Greg Orman of Kansas would be among richest U.S. senators

Independent candidate Greg Orman would be one of the richest senators in Washington if Kansas voters send him there in November.

Orman owns assets worth between $21.5 million and nearly $86 million, according to a news release and financial documents provided by his campaign Monday.

The average of that range — $64.5 million — would have placed him fifth on the 2012 list of wealthiest senators, according to figures compiled by the Washington-based Center for Responsive Politics.

Senate disclosures do not include precise figures for assets or income. Instead, filers must only provide a general range of values for each.

Sen. Pat Roberts, Orman’s Republican opponent, and wife, Franki, own assets valued between $1.6 million and nearly $4 million, according to Roberts’ financial disclosure, filed in August.

Orman’s campaign said the candidate’s wealth was a hard-earned success story.

“These filings highlight Greg Orman’s track record of success as a businessman, starting companies and creating jobs,” campaign manager Jim Jonas said in an emailed statement.

Orman’s 38-page disclosure document reflects dozens of investments, business arrangements and investing strategies. The candidate owns real estate, bonds, oil and gas interests — even a vacation investment property in Idaho worth between $1 million and $5 million.

His biggest investment is in FRM Associates LLC, which owns a major office building in Minneapolis. Orman’s stake in the firm is valued between $5 million and $25 million.

Orman’s business ventures have faced scrutiny this summer. He has been involved in several lawsuits, including a $29.6 million trademark infringement case involving Combat Brands, a boxing equipment company.

The campaign says the lawsuit is without merit. It says Orman saved Kansas City area jobs by purchasing Combat Brands.

Orman’s disclosure values Combat Brands between $1 million and $5 million. It also includes a loan to Combat Brands in the same range.

He was also involved in a Jackson County lawsuit involving a company called Design X Studios, which worked on graphics for scoreboards.

The lawsuit was settled. Orman has an ownership stake in the company, the disclosure shows.

The disclosure reflects more than a dozen other loans, including a loan to Maxus Properties LLC. The North Kansas City firm buys rental housing, including some involved in affordable housing programs.

Orman’s most valuable holdings are in real estate.

The documents also disclose Orman’s partial ownership in Exemplar Wealth Management Inc. That firm has been linked to financier Rajat Gupta, who is now in federal prison for insider-trading violations.

Orman also lists a now-ended directorship with New Silk Route Advisors L.P. Gupta was a founding member of what became New Silk Route Partners LLC.

Republicans have criticized the relationship between Gupta and Orman.

The documents show Orman earned between $917,290 and $4,523,200 during the 20-month reporting period, virtually all of it from investments.

Roberts’ assets include three rental properties in National Harbor, Md., Dodge City, Kan., and Alexandria, Va.

The incumbent also owns a single-family home in Virginia.

This story was originally published September 22, 2014 at 4:14 PM with the headline "If elected, Greg Orman of Kansas would be among richest U.S. senators."