To be a U.S. ambassador often means you’re the life of the party.
Or at least the host of the party.
Besides representing the government abroad, ambassadors often throw parties and dinners that cost far more than the amount of money budgeted for their posts. They write a personal check to make up the difference.
Hence, it helps to have a large bank account before taking the position. Sort of like the personal net worth approaching $280 million that Caroline Kennedy, President Barack Obama’s choice as U.S. ambassador to Japan, has reported.
Her 60-page filing listed eight Cayman Island partnerships, with a combined value ranging from $542,000 to $1.2 million; multiple accounts at JPMorgan Chase & Co. and Goldman Sachs Group Inc,; between $750,000 and $1.5 million in oil and gas leases; and property on the Massachusetts island of Martha’s Vineyard. She has listed part of it, two waterfront parcels in the town of Aquinnah, for sale for a total of $45 million.
Kennedy isn’t the wealthiest among Obama’s nominees.