Scandal-Plagued Matt Gaetz's Family Controls A Florida Real Estate Empire. Here’s What’s Inside (1)

Forbes

The congressman’s father Don, a powerful Florida politico, is worth $33 million. Most of that fortune is tied up in real estate—including the house from “The Truman Show.”  Read the full story on Forbes: https://www.forbes.com/sites/kylemullins/2024/06/20/the-family-of-scandal-plagued-matt-gaetz-controls-a-florida-real-estate-empire-heres-whats-inside/  Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript  Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com  Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Transcript

00:00Today on Forbes, the family of scandal-plagued Matt Gaetz controls a Florida real estate empire.

00:07Here's what's inside.

00:09Congressmember Matt Gaetz has a knack for making headlines,

00:13most recently regarding a house investigation into alleged sexual misconduct,

00:17drug use, improper gifts, and other ethics violations, which he denies.

00:22His father, on the other hand, has a knack for making money.

00:26Don Gaetz, who is 76 years old, is worth an estimated $33 million

00:31after co-founding a hospice provider that sold to ChemEd,

00:34the parent company of Roto-Rooter, for $406 million in 2004.

00:39Flush with cash, Don Gaetz refocused on politics and real estate.

00:44He served in the Florida legislature for 10 years,

00:47ultimately becoming president of the state Senate from 2012 to 2014.

00:52Put aside, Don Gaetz built up a real estate portfolio focused in the Sunshine State,

00:57with diversions in Wisconsin and New York.

01:00Matt Gaetz followed his father into both pursuits,

01:03joining the Florida House of Representatives in 2010,

01:06then the U.S. House in 2017,

01:08while buying and selling a series of properties near his dad's home base in northwest Florida,

01:13the same region where the district the younger Gaetz represents in Congress is located.

01:18Here are some of the properties in the Gaetz family's portfolio.

01:22Don Gaetz owns a home in Seaside, Florida that is valued at $3.7 million.

01:27It's the most valuable home in the Gaetz portfolio,

01:30and it's the Truman Show House,

01:32a 2,100-square-foot abode where Jim Carrey lived in the 1998 box office hit movie.

01:38Don Gaetz purchased the four-bedroom property in 1991 for $125,000,

01:44took out a $203,000 mortgage in 1993,

01:48and renovated the home in 1997,

01:50before it appeared on the big screen the following year.

01:53Don paid off the mortgage in 2008.

01:56He's back to work on the property now,

01:58having filed documents with the county for additional renovations just last month.

02:03Don Gaetz owns another home, this one in Panama City, Florida,

02:07and valued at $3.3 million.

02:10He bought the 8,500-square-foot estate which overlooks St. Andrew Bay in 2010

02:15for just under $2.5 million.

02:18He renovated it from 2013 to 2015 and is now trying to cash out.

02:23A $3.3 million listing flaunts, quote,

02:26shades of the South Carolina low country outside and worldly influences indoors.

02:31It also notes features such as an elevator and built-in entertainment center.

02:36The Elder Gaetz owns a second seaside Florida home valued at $2.1 million.

02:41He bought the three-bedroom, 1,500-square-foot home in 1983 for $64,900.

02:48Today, the home, just a block from the beach and a few minutes from downtown seaside,

02:53is worth more than 30 times that.

02:56A third seaside Florida home is owned through a company named Matterin

03:00and valued at $2 million.

03:02The Elder Gaetz purchased land in seaside for $100,000 in 1991,

03:06then built a two-story home with a fence and a gazebo in 1994, according to property records.

03:13He replaced the roof on the three-bedroom, 1,500-square-foot home in 2014.

03:18In Niceville, Florida, Don Gaetz owns another home, this one worth $1.6 million.

03:24This three-bedroom, 3,600-square-foot home sits on Rocky Bayou, an inlet of Choctahatchee Bay.

03:31Don bought the two-story house, which appears to sport a dock, in 1995 for $428,000, then remodeled it.

03:40In New York City, Don Gaetz owns an apartment that is valued at $750,000.

03:46He bought the 670-square-foot loft in 2008 for $650,000.

03:52He says he owns 77% and his wife and daughter also appear in property records as buyers.

03:57It's one of 275 apartments in a 16-story Greenwich Village co-op with a doorman and rooftop deck.

04:04A recent listing suggests the Gaetz family rents the place for $4,300 a month.

04:11Back in Niceville, Florida, there's a duplex owned through a company named Trevron Inc., and it is valued at $450,000.

04:19Tracing its history, Matt Gaetz bought a plot of land and home there for $73,000 in 2005.

04:26In 2016, while running for Congress, he sold it to one of his dad's companies, Trevron, for $90,000.

04:33The following year, Don Gaetz demolished the existing home and built a pair of connected three-bedroom homes, boosting the property's value.

04:42For full coverage, check out Kyle Kahn Mullen's piece on Forbes.com.

04:48This is Kieran Meadows from Forbes. Thanks for tuning in.

04:56Forbes.com

Category

Transcript

Recommended