Must be nice - Governor of California

Just a modest little house. From RedState:

Gavin Newsom’s $3.7 Million Estate Was Gifted to Him in 2019; 3 Months Later He Got a $2.7 Million Tax Free Cash-Out

• • Gavin Newsom’s $3.7 million, 12,000 square foot mansion, on 8+ acres along the American River in Sacramento, was the area’s most expensive home sale in 2018
  • The gated estate consists of a 6 bedroom/10 bath home, a guest house, a pool, a tennis court, and a wine cave
  • An LLC registered to and SOLELY OWNED BY Newsom’s cousin, long-time business partner, and Co-President of PlumpJack, Jeremy Scherer, paid cash for the estate in December 2018
  • Newsom’s spox, though, claimed in Jan 2019 that it was Newsom who’d paid cash for the home – puzzling, since Newsom still carried a $3.2 million mortgage on his prior home
  • In Oct 2019 the LLC gifted the home to the Newsoms free and clear, falsely claiming Newsom was a member of the LLC to avoid a $4,000 Transfer Tax
  • In January 2020 the Newsoms received $2.7 million tax-free when they obtained a cash-out refinance
  • Newsom’s financial disclosure forms don’t mention the LLC or the gifts, which far exceed the $500 limit
  • In 2003, Newsom was cited for failing to disclose $11 million in real estate and business loans

One thing that’s become extraordinarily clear to Californians in 2020 is that there’s one set of rules for Gov. Gavin Newsom, and there’s another set of rules for the rest of us. He preaches that we’re all in this together and that we have to sacrifice to “meet this moment,” yet he’s not missing a paycheck.

As California businesses struggle, he sends a $1 billion contract for masks to a Chinese company. When he shut down wineries throughout 80 percent of California, he kept his open.

While the dream of owning a home is increasingly out of reach for California’s families, it appears that Newsom received a $3.7 million estate from an LLC owned by his cousin then, a few months later took out a $2.695 million (tax-free) cash-out mortgage on it — and didn’t report the gift on any of his financial disclosure forms.

Rules are for thee and not for me. Tell me again Newsom's connection with We The People?