Connect with us
Sen. Wilton Simpson. Image via Colin Hackley.

Headlines

Egg-cellent: Wilton Simpson’s wealth up $10M while in office

Most of Simpson’s wealth comes from his egg farm.

Eggs are a pretty lucrative business for future Senate President Wilton Simpson

The Trilby Republican’s net worth has increased by $10 million since he was first elected in 2012, according to his latest financial disclosure this week, and other disclosures on file with the state.

Most of Simpson’s wealth comes from his egg business, Simpson Farms, and his asbestos removal company, Environmental Services, in Trilby. The publicly available financial disclosure forms dating back to 2012 came during the economic incline following the Great Recession. 

As of the end of 2018, the state senator reported a net worth of nearly $26 million. At the end of 2012, the year he first won election, Simpson reported a net worth of $15.6 million.

At the close of 2018, Simpson’s egg farm was worth $14.4 million. In 2012 it was worth $8.4 million.

The asbestos removal firm is most recently worth $6.4 million. It had been worth $3 million.

Those business assets account for almost all of Simpson’s overall increase in wealth.

In his most recent financial disclosures, Simpson reports a $500,000 homesteaded property on nearly 22 acres of land in Dade City. It’s the same home Simpson lived in when he was first elected.

Simpson also owns a vacant lot in Dade City worth $121,000 and a $256,000 condo in Tallahassee.

Simpson financial reports show he doesn’t owe any money on those properties. His only liabilities are on his business ventures, and they total about $6 million. (Most of that belongs to Simpson Farms.)

He reported $661,000 in a money market account, $25,000 in checking and $7,000 in savings. Simpson also reported $133,000 each in an IRA and Florida Deferred Compensation Plan.

Simpson draws a yearly $184,000 salary from Simpson Environmental Services, as well as $1.4 million in other profits. His legislative pay is $29,697 a year.

Simpson’s overall worth did not substantially increase between 2017 and 2018. He reported about $600,000 in increased worth between those two years.

The state Senator reported his largest financial growth in 2013 and 2014 when his worth increased about $3 million each year. Since 2014, Simpson’s growth has regularly grown about $500,000 to $1 million a year.

Assuming Republicans hold their majority in the chamber, Simpson is slated to become Senate President for 2020-22, after Bradenton Republican Bill Galvano.

Janelle Irwin Taylor has been a professional journalist covering local news and politics in the Tampa Bay area since 2003. Most recently, Janelle reported for the Tampa Bay Business Journal. She formerly served as the sole staff reporter for WMNF News and previously covered news for Patch.com and various local neighborhood newsletters. Her work has been featured in the New York Daily News, Free Speech Radio News and Florida Public Radio and she's been interviewed by radio stations across the nation for her coverage of the 2012 Republican National Convention. Janelle is a die-hard news junkie who isn't afraid to take on big names in local politics, including Tampa Mayor Bob Buckhorn, the dirty business of trash and recycling in St. Pete and contentious issues surrounding transit. Her work as a reporter and radio host has earned her two WMNF awards including News Volunteer of the Year and Public Affairs Volunteer of the Year. Janelle is also a devoted wife and mother to three brilliant and beautiful daughters who are a constant source of inspiration and occasional blogging fodder.

Sign up for Sunburn

Receive our team's agenda-setting morning read of what's hot in Florida politics. Delivered straight to your inbox Monday through Friday.

Florida Politics is a statewide, new media platform covering campaigns, elections, government, policy, and lobbying in Florida. This platform and all of its content are owned by Extensive Enterprises Media.

Publisher: Peter Schorsch

Contributors & reporters: Phil Ammann, Renzo Downey, Rick Flagg, A.G. Gancarski, Joe Henderson, Janelle Irwin, Jacob Ogles, Scott Powers, Bob Sparks, Andrew Wilson.
Email: Peter@FloridaPolitics.com
Phone: (727) 642-3162
Address: 204 37th Avenue North #182
St. Petersburg, Florida 33704

Connect
Sign up for Sunburn

Receive our team's agenda-setting morning read of what's hot in Florida politics. Delivered straight to your inbox Monday through Friday.