Nader, as race nears, says he's worth $3.8 million

By Mike Allen Washington Post, 6/18/2000

WASHINGTON - Ralph Nader, the consumer activist and big-business watchdog, is worth $3.8 million and has invested heavily in technology stocks, according to interviews and an election filing.

For decades, Nader refused to give the name of his stockbroker, or other personal financial information. This led to accusations from conservatives that he had been building a secret financial empire as he called for greater disclosure by government officials and business executives.

Recently, Nader, who is to be nominated next weekend as the Green Party presidential candidate, offered a detailed picture of his wealth in two expansive interviews with the Washington Post and in a 21-page filing with the Federal Election Commission that was more detailed than required.

''Ask anything you want,'' Nader said in one of the interviews.

Nader said that one of his few regrets is that he has been too conservative with his investments.

''The question should almost be, `Why is it so little?''' he said. ''If it was in any way comparable to what these corporate executives are getting, we could've done a lot more.''

Nader said he gives away more than 80 percent of his after-tax income. He is left with a net worth of $3.8 million, including $1.2 million in Cisco Systems, which makes Internet products. He owns smaller amounts of five other technology stocks and has more than $2 million in two money-market funds.

He estimated that he has had made about $13 million to $14 million in royalties, honoraria, interest income, and writing and television fees beginning in 1967. That was two years after he rose to prominence with his book, ''Unsafe at Any Speed,'' which focused on the Chevy Corvair, to argue that the auto industry emphasized profits at the expense of safety.

Nader, 66, who is single, said he has made $200,000 to $300,000 a year on speeches for 30 years. Income from writings, television appearances, and interest is on top of that. He said he lives on $25,000.

He last owned a car (a '49 Studebaker) in the late 1950s. He went years without a television set but now has a tiny black-and-white; reception is an adventure. He rents an apartment near DuPont Circle and often stays at the family home in Winsted, Conn. He still taps out his books on what he calls a ''perilous'' Underwood. He keeps meaning to buy a new ribbon.

Nader has plowed millions into his own projects, including the establishment of Public Interest Research Groups in 22 states. He has established several research centers devoted to health and safety, has taken on the standardized-test industry, and has championed Native American rights, child protection, and solar energy education.