Kirsten Gillibrand, Mike Sapraicone disclose contrasting personal finances

WASHINGTON — New York’s U.S. Senate race this year between Democratic incumbent Kirsten Gillibrand and Republican Mike Sapraicone offers voters a sharp contrast in their politics, parties and — according to their most recent financial disclosure reports — personal finances.

Gillibrand, 57, of Albany, makes $174,000 a year as a senator and reported in her financial disclosure statement on May 8 that she had between $1.2 million and $5.5 million in assets — and that she keeps all that money in just five bank accounts.

Gillibrand, who over time has disposed of investments she and her husband once had, led passage of the STOCK Act of 2012 to crack down on insider trading by lawmakers, and in 2022 introduced STOCK Act 2.0 to ban members of Congress from owning stock.

“Elected officials should make it clear they serve their constituents, not themselves,” Gillibrand spokesman Evan Lukaske said in a statement.

Sapraicone, 67, of Glen Head, reported to the House in November as he weighed a run in the Third Congressional District that he had a $300,000 salary and between $10.6 million and $11.2 million invested in 240 assets including corporate stocks, real estate and public bonds in a joint account with his wife.

Now that Sapraicone is running for Senate, he is working on filing a new financial disclosure report with the Senate, said his communications director, Scott Glick.

“Mr. Sapraicone’s accountant has been communicating with the Senate Ethics Committee to ensure his disclosure statement is updated to properly reflect the now-completed sale of his business,” Glick said in a statement, adding Sapraicone intends to file next week.

Sapraicone, a former NYPD detective, recently sold his private security company.

Glick did not respond to a question about how Sapraicone will ensure his holdings don't create conflicts should he win the election.

Lawmakers and candidates must file disclosure reports listing income, assets and liabilities to inform the public about their financial interests under a 1978 law that aims to increase confidence in government and deter potential conflicts of interest. Assets and liabilities are listed in ranges of dollar amounts.

Members must file by May 15 each year, but can get an extension of up to 90 days. Candidates must file by May 15 or 30 days after they file to run for office, whichever is later.

Here is a rundown of the status of other filings by congressional district:

First District

Democrat Nancy Goroff, of Stony Brook, a former Stony Brook University professor making a second run for Congress, submitted a 20-page disclosure report that lists about 300 assets valued at a total of between $11.5 million $53.5 million.

Her investments include hundreds of corporate stocks. Goroff also has invested in small business and real estate. She has retirement funds and made a personal loan to a fellow educator, her disclosure report shows. 

Goroff’s rival in the 1st District Democratic primary, former CNN commentator John Avlon, of Sag Harbor, obtained an extension to file on Tuesday. Rep. Nick LaLota (R-Amityville), running for a second term, has an extension to file Aug. 13.

2nd District

Rep. Andrew Garbarino (R-Bayport), who is seeking a third term, has an extension to file on Aug. 13.

Democratic challenger Rob Lubin, a business owner from Amityville, did not file a financial disclosure report last year and missed the May 15 deadline this year. Lubin spokesman Harrison Krepack said in an email: “We’re working on it.”

3rd District

Rep. Tom Suozzi (D-Glen Cove), who is seeking a full term after winning a special election to replace the expelled GOP Rep. George Santos, reported in a January disclosure that he made $652,500 while out of office last year.

Suozzi reported investments valued at between $820,000 and $1.9 million, including corporate stocks, real estate, his businesses and his investment in day camps owned by state and Nassau County Democratic Chairman Jay Jacobs. A Merrill Lynch Advisor Discretion Account manages the stock holdings, the filing said.

Republican challenger Mike LiPetri, of Farmingdale, a former New York State assemblyman, reported a $150,000 salary from his work at Park Strategies LLC, run by former U.S. Sen. Alfonse D’Amato, and assets valued at $67,000 to $190,000.

4th District

Rep. Anthony D’Esposito (R-Island Park) filed a disclosure report but the House clerk has not posted it on its website.

D’Esposito faces a rematch from the 2022 election against Democrat Laura Gillen, of Rockville Centre, a former Hempstead Town supervisor, who has an extension to file on June 14.