Political Currency: Brevard's wealthiest politicians (and how they made their money)

A recent FLORIDA TODAY review of state financial disclosures forms showed most Brevard County state and county-level elected officials are millionaires, with some among the wealthiest in the state.

Many of our state legislators are wealthy even by the standards of the Florida Legislature. Three of Brevard's five state house members reported a net worth last year over $2.8 million, the adjusted average among the Florida House in 2022, according to figures derived from a report by the News Service of Florida.

(That number doesn't include outlier Rep. Kevin Steele of Dade City, whose reported $408 million was more than the rest of the House combined. With Steele, the average goes up to $6.2 million.)

One of Brevard's two state senators was well above the Florida Senate's reported average of $3.9 million. Four of five county commissioners reported a net worth close to or over a million dollars, as well as three of our five Constitutional officers — offices that include sheriff, property appraiser and clerk of courts.

Here are the five wealthiest Brevard County politicians and the reported assets that make up most of their wealth, according to their most recent financial disclosures on file with the Florida Commission on Ethics.

1. Sen. Tom Wright, $35,636,292

Represents: Florida Senate District 8

Nearly half of Wright’s reported net worth is from two of his three Manzeppa, Minnesota, businesses: Martech Services Company, which manufactures breathing protection systems for industrial painting and other applications; and La-Man Corporation (registered as Filter Systems, Inc.), which produces compressed air filtration products.

He also reported $4.3 million in household and personal assets, and another $4.3 million in real estate holdings in Florida and Minnesota. Those include a $1 million, 16,000-square foot commercial building in Port Orange; his million-dollar home in New Smyrna Beach; and the commercial facility housing his Minnesota companies, valued at just under a million dollars.

More: Political Currency: Most Brevard County legislators, elected officials are millionaires

2. Rep. Randy Fine, $28,780,790

Represents: Florida House District 33

Fine made his millions in the gambling industry through his Las Vegas-based casino consulting firm, the Fine Point Group, also known as Fine Consulting, Inc. He listed the company in his 2016 financial disclosure as an asset of a now inactive parent company, Jayvid Holdings LLC, which Fine valued last year at $20.8 million.

His other reported assets include a $4.98 million beachfront home in Melbourne Beach and a $748,000 retirement account through J.P. Morgan, including nearly $200,000 in mutual and other funds and stocks valued at $435,000.

Fine’s portfolio includes $115,000 in Apple stock, $53,000 in Microsoft, $47,000 in Lowes Home Improvement and $34,000 in Home Depot, among others.

3. Rep. Robert Brackett, $10,090,788

Represents: Florida House District 34

Most of Brackett's reported wealth is in real estate holdings, including a $4.3 million interest in the Brackett Family Limited Partnership, which according to a prior disclosure owned dozens of properties around Vero Beach, Sebastian and Fellsmere.

Other reported real estate interests include $1.2 million in Office Suites, LLC, which a 2019 disclosure form showed owned three Vero Beach commercial office buildings. Brackett is a former mayor of Vero Beach.

In total, Brackett reported over $5.8 million in at least five real estate companies last year, and a $2.8 million ownership in Edge Information Management, a Melbourne-based firm that does employment background checks and drug testing.

Other assets include over $1.4 million in savings and investment accounts, a $750,000 home in Vero Beach, and over $430,000 annual income through his various businesses.

4. Commissioner Tom Goodson, $5,205,200

Represents: County Commission District 2

Goodson reported about $1.5 million in residential property holdings, including a $1,000,000 house in Cocoa and a $255,000 cabin in Blairsville, Georgia. His reported assets include ownership interests of about $632,000 in his business, Goodson Paving Inc., and a related partnership, as well as a rental company registered to the same address.

Major clients of Goodson Paving, a paving and asphalt company based in Cocoa, included the Viera Company and W&J Construction, according to his disclosure form.

Further assets included about $710,000 in loans owed to his various businesses, and about $1.7 million spread between a retirement fund and three living trusts. Goodson also reported about $411,000 in annual income last year through his businesses and investment and retirement funds.

More: Republican Goodson routs Smith, Feltner beats write-in candidate in County Commission races

5. Rep. Thad Altman, $4,316,850

Represents: House District 32

Altman is another property investor, with the majority of his reported wealth coming from a $2.7 million interest in the Pines Resort, an apartment complex off of Banana River Drive in Indian Harbour Beach.

He reports a million-dollar home in Rockledge, as well as a $360,000 ownership in another beachfront home valued at $1.6 million along Highway A1A in Indialantic. Altman also owns a $250,000 mortgage on a home in Viera, and reported about $218,000 in a retirement savings account.

Eric Rogers is a watchdog reporter at FLORIDA TODAY. Contact Rogers at 321-242-3717 or esrogers@floridatoday.com.

This article originally appeared on Florida Today: Brevard's millionaire politicians and what makes up their wealth