Income $350,000; estimated expenditure $381,000

Press, Volume CXV, Issue 33957, 25 September 1975, Page 17

Income $350,000; estimated expenditure $381,000

(N Z P.A.-Reuter —Copyright)

NEW YORK, September 24.

Jacqueline Kennedy Onassis may enjoy income of about §350,000 next year, but she could find herself in the red to the tune of some $30,000, according to a financial analysis published today.

According to “Money” magazine, Mrs Onassis, widowed for the second time

when her Greek shipping tycoon husband, Aristotle Onassis, died in Paris earlier this year, now faces some changes in her lifestyle and important financial decisions. Basing its analysis of her income and spending on published records, the magazine said that in 1976 she will collect SIOO,OOO from a tax-exempt, pre-nuptial trust set up by Mr Onassis, SIOO,OOO of taxable income from his will, $37,050 from the estate of the former United States President, John Kennedy, $4160 from the estate of her father, John Vernou “Black Jack” Bouvier, and S2OO a week from her job as an associate editor at a publishing house. And if she successfully negotiates for a bigger slice of the Onassis fortune, she could gain another SIOO,OOO. Although her total wealth was estimated at $ 14.4 m the magazine described her financial position as "asset rich and cash poor.” It said that her spending was estimated at $381,000 a year — or $30,000 more than she has coming in. Among her current expenses, the magazine listed: $100,200 for income tax. $85,000 for staff and ser-

vants. $50,000 for home decoration

and renovation. $30,000 for clothes $30,000 to maintain her

Fifth Avenue apartmei in New York. SIO,OOO for entertainment. SI2OO to keep a horse

The magazine said that Mrs Onassis spent up to $120,000 a year on clothes when Mr Onassis was alive — but has cut down lately — and $30,000 for clothes could be “on the skimpy side.”

Running up big bills is nothing new for the former American First Lady, the magazine said. According to a former White House staff member, Mrs Kennedy spent

some $121,000 in 1962, to the dismay of the late President.

>nt And during her marriage to the Greek shipping magnate, it said, Mrs Onassis spent some $450,000 a year on her jet-set life style.

The magazine said that it consulted financial experts who suggested she could solve her current financial problems by trimming her spending. If that proved too difficult, it said, the experts

suggested converting some s4m of her s7m jewellery collection into tax-exempt investment and another $1 million into a diversified portfolio of growth stocks.

Mrs Onassis refused to be interviewed for the article, the magazine added.