First Lady? First Beer?

I learned several years ago about Cindy McCain —wife of the Republicanic presidential candidate.

I learned that she was an Anheuser-Busch distributorship heiress. I just hadn't realized how much of an heiress she was: try $100 million plus.

Cindy McCain is Hensley's chairwoman and holds at least a 20 percent stake in it, according to Arizona corporate records. She works mostly on strategic planning and corporate vision, said Hensley spokesman Douglas Yonko. The company is family owned, but Hensley won't say whether Cindy McCain is a majority shareholder.

Within the industry, as heiress to her father, she is widely assumed to own a majority of the company. If so, that would make her net worth at least $100 million, if industry estimates of Hensley's value are accurate. <...>

McCain himself reports little more wealth than when he started in politics. With his book royalties and radio-appearance fees donated to charity, McCain's Senate salary of $169,300 and Navy pension of about $56,000 are his only significant sources of income. He has accounts at two banks with his wife worth up to $15,000 each, according to his most recent financial disclosure report.

In contrast, Cindy McCain is a millionaire many times over — though the McCains haven't disclosed just how many times.

In government records, McCain is permitted to describe his wife's salary at Hensley as simply "more than $1,000" and, when listing her major assets, say only that they are worth "more than $1 million."

The reports show Cindy McCain has at least $9 million in assets on her own and at least $15 million with the McCain children. But those figures are virtually meaningless; her stake in Hensley & Co. alone almost certainly exceeds them by tens of millions of dollars.

Beverage industry analysts estimate Hensley's value at more than $250 million and its annual sales at $300 million or more. Hensley describes itself as the third-largest Anheuser-Bush wholesaler in the United States. It sold more than 23 million cases of beer last year and is among the nation's biggest beer distributors regardless of brand.

Beer executive could be next first lady
Sharon Theimer, Associated Press
April 3, 2008