Los Angeles Mayor Antonio Villaraigosa is reportedly broke and has no home to go to or car to drive when he leaves office.
Mayor Villaraigosa will vacate his taxpayer-supported residence on June 30 to Mayor-elect Eric Garcetti.
“His friends are so concerned because he’s lived so flamboyantly and spent basically so much of other people’s money on a very, very costly lifestyle,” Jill Stewart, of the L.A. Weekly, told KNX 1070 News Radio in Los Angeles.
Stewart said Villaraigosa has lived “far better than Governor Jerry Brown and far more flamboyantly than actual multi-millionaire mayor Richard Riordan.”
“He didn’t save any money…we got his required economic interest reports where you see all their stocks and bonds and property. Nada.”
According to the LA Weekly, political insiders claim that Villaraigosa earned $232,735 a year, which would be more than any other mayor in the U.S.
If the numbers are correct, Villaraigosa would have earned a total of $1.6 million during his time as mayor. However, he has no major assets, only a rental property in Moreno Valley, California that earns $600 a month.
Villaraigosa, who spoke at the 2012 Democratic National Convention, is reportedly looking for work after he publicly denied interest in a position in the Obama administration.
“He is asking anyone and everyone for jobs at think tanks. He thinks he could be a resident-in-scholar at UCLA or USC. He’d like to work on Wall Street,” Stewart explained. “It’s incredible, he’s throwing a really wide net out there.”