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Dr. Mehmet Oz Appointed to Lead Medicare and Medicaid Services

Overview of Dr. Oz’s Appointment

In November 2024, president-elect Donald Trump announced the selection of Dr. Mehmet Oz, a well-known television personality and physician, to lead the Centers for Medicare and Medicaid Services (CMS). Dr. Oz comes with a substantial financial background, boasting an estimated net worth of $200 million. His selection is part of a broader cabinet that also includes Robert F. Kennedy, Jr. as the head of the Department of Health and Human Services.

Background and Financial Insights

Dr. Oz first entered the political arena in 2021 when he launched his campaign as a Republican for an open Senate seat in Pennsylvania, a contest he ultimately lost to Democrat John Fetterman in 2022. During his campaign, financial disclosures revealed substantial investments in various sectors, particularly focusing on technology and healthcare. His portfolio also includes an impressive array of real estate holdings valued in the millions.

Professional Journey and Income

Dr. Oz gained widespread recognition through his association with Oprah Winfrey, who introduced him to television audiences, eventually leading to his own show, The Dr. Oz Show. The program, which aired from 2009 until 2022, garnered ten Emmy Awards and was produced by Winfrey’s Harpo Productions along with Sony Pictures.

For his work on The Dr. Oz Show, Oz reported an annual salary of $2 million. Additionally, his involvement in Oz Media added $7 million to his income. In 2021, his brief tenure as a guest host on Jeopardy! brought in another $268,000.

Medical Contributions and Royalties

Before venturing into media and politics, Dr. Oz had a distinguished career as a heart surgeon and served as the director of the Cardiovascular Institute at New York-Presbyterian Hospital. His innovations in the field include the Mitraclip, a device designed to repair the heart’s mitral valve, which led to him earning significant royalties exceeding $333,000, as per his 2022 financial disclosures.

Investment Portfolios

Dr. Oz and his spouse, Lisa, have made noteworthy investments across various sectors, with particular emphasis on technology and healthcare. Their financial disclosures reveal holdings in major companies such as Amazon, Microsoft, and Apple, with each investment valued up to $5 million. Additionally, they have stakes in Nvidia, UnitedHealth Group, and CVS Health.

Venture into Wawa

Beyond tech and healthcare, Oz’s investment portfolio includes shares in Wawa, a popular gas station and convenience store chain. His ownership stake is estimated to be worth between $5 million and $25 million, and his investment has yielded $5 million in dividends, according to his 2022 disclosures.

Real Estate Holdings

Dr. Oz also boasts an extensive real estate portfolio, encompassing residential and investment properties across several states, including New Jersey, New York, and Florida, as well as overseas in Turkey. These properties are valued between $1 million and $25 million. Notably, his investment property in Palm Beach, Florida, generated income of up to $5 million, as disclosed in 2022.

Further diversifying his holdings, Oz owns a cattle farm in Okeechobee, Florida, valued up to $5 million, along with cattle valued at approximately $500,000.

Source
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