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State Nominee Kerry, Worth More Than $184M, Plans To Divest Holdings

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U.S. Secretary of State John Kerry on Sunday tried to reassure America's Arab friends that the United States will not allow them to be attacked "from outside," in an apparent warning to Iran.  (credit: MANDEL NGAN/AFP/Getty Images)

U.S. Secretary of State John Kerry on Sunday tried to reassure America’s Arab friends that the United States will not allow them to be attacked “from outside,” in an apparent warning to Iran. (credit: MANDEL NGAN/AFP/Getty Images)

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WASHINGTON (AP) — Secretary of State nominee John Kerry plans to divest holdings in dozens of companies in his family’s vast financial portfolio to avoid conflicts of interest if he is confirmed by the Senate.

The Massachusetts Democrat notified the State Department earlier this month that within 90 days of his confirmation he would move to sell off holdings in three trusts benefiting him and his wife, Teresa Heinz Kerry. In the Jan. 8 letter to the department’s Office of the Legal Adviser, Kerry said he would not take part in any decisions that could affect the companies he has holdings in until those investments are sold off.

Kerry is the wealthiest man in the Senate, worth more than $184 million, according to a 2011 Senate disclosure.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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