John Hult at South Dakota Searchlight has a big story today on former US Senate Candidate Reid Rasner, who state press releases described as a billionaire who wants to bring TikTok to South Dakota.
However, according to financial disclosures from his recent US Senate race as described by SD Searchlight, the disclosures don’t seem very billionaire-ish looking. Although, if I could make 70k selling aluminum beach chairs on eBay, I would too:
South Dakotans following the story on his $47.45 billion bid since mid-April, through traditional media channels or on social media outlets like Instagram or TikTok, have likely seen the term “billionaire” attached to Rasner’s name.
But his background offers no definitive proof to support that descriptor. Instead, disclosures filed during his Senate campaign show a self-employed financial adviser who owns some real estate, sells used goods on eBay for a sizable portion of his income, and is more than $1 million in debt due to a loan he received from a family trust.
Even so, he’s won over South Dakota Republican Gov. Larry Rhoden, who’s sung Rasner’s praises in press releases and television appearances.
and..
In one of the reports he filed during his failed Senate campaign, Rasner reported $108,000 of self-employment income from Omnivest Financial, the company name under which he offers wealth management services. He reported earning another $70,000 through eBay, an auction site on which he sells goods such as vintage police badges, cowboy boots and aluminum beach chairs under the name “Omnisellers.”
Rasner’s disclosure forms also list commercial real estate, from which he collected between $15,001 and $50,000 in rent, a mutual fund worth less than $100,000, and unimproved land in Casper, Wyoming, worth less than $15,000.
Rasner additionally disclosed a liability of between $1 million and $5 million, due to a loan he received from a family trust at a rate of 5% interest over a 20-year term.
and..
Rasner declined to respond directly to a dozen questions on his companies, political ambitions, investors and personal life. He sent a statement through a spokesperson that accused South Dakota Searchlight of approaching this story with a “tone and accusatory nature” that is “completely unprofessional.”
“Your biased attacks will not deter Rasner Media’s mission to free TikTok from Chinese control,” the statement said, in part.
Well… ok.. I guess we’ll see how this goes.
Embarrassing
Umm. Who in GOED or Govs Office gave this guy access let alone going public with this obvious scheme several times?
Republicans “Billionaire” huckster with questionable ethics…where have I heard this before?
Simpson’s Monorail episode type stuff right here.