Some in and out of the the media have speculated that Senate Majority Leader Tony Rand’s move from the Senate to the Parole Board was partially motivated by the significant pay increase he would receive. His Senate salary is around $17,000 per year while the Parole Board pays in excess of $100,000.
From an examination Sen. Rand’s 2008 Statement of Economic Interest (4MB), money is certainly not a concern. Sen. Rand has become a very wealthy man over the years.
By my quick analysis of the report, Rand’s net worth includes:
2 houses in Fayetteville, 1 in Raleigh
Positions of at least $10,000 in 140 different stocks, bonds or mutual funds (do the math there…)
Interests in 21 other non-publicly traded companies of $10,000 or more.
Sen. Rand is a very rich man, to say he left the General Assembly for an $80,000 pay increase is laughable.