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A4 U.S. NEWS
Saturday 6 July 2019

Rich father-in-law has helped, complicated O'Rourke's career

By WILL WEISSERT and RYAN be very confident that it is a
J. FOLEY strategic asset," he said in a
Associated Press rare 2006 interview with an
EL PASO, Texas (AP) — Beto industry magazine.
O'Rourke was running for Sanders, who sold Secu-
the El Paso City Council rity Capital for $2.1 billion
in 2005 when he asked to in 2001, usually relished the
meet with the illustrious low profile such ventures af-
real estate investor William forded him. That changed
Sanders. after O'Rourke joined the
Sanders had earned a for- city council in 2005 and
tune in Chicago before re- Sanders led a group of busi-
turning to his remote home- nesspeople who released
town on the West Texas- a plan to redevelop down-
Mexico border. He thought town. O'Rourke initially vot-
O'Rourke wanted a dona- ed to move it forward. But
tion. many low-income, immi-
But O'Rourke, now vying for grant residents said it raised
the Democratic presiden- the specter of El Paso us-
tial nomination, was actu- ing eminent domain to dis-
ally seeking permission to place some of its most mar-
marry Sanders' daughter ginalized residents while
Amy. And after he secured In this June 6, 2019 file photo, Democratic presidential candidate Beto O'Rourke speaks during the benefiting developers.
it, his future father-in-law I Will Vote Fundraising Gala in Atlanta. The plan eventually stalled
began talking at length Associated Press and O'Rourke has repeat-
about her previous boy- edly denied conflict-of-in-
friend. Sanders plays no role. Still, make the region thrive. ed and built the company terest complaints. Still, crit-
"It was a very awkward O'Rourke might never have Journalist Steve Bergsman, that became Chicago's re- ics, including El Paso attor-
— very, very awkward — made it on the national who wrote about Sanders nowned La Salle Partners. ney Stephanie Townsend
conversation," O'Rourke stage without the help of in a 2006 book, described It was a one-stop shop for Allala, say O'Rourke con-
recalled in a phone inter- the intensely private ty- him as a workaholic whose some of America's largest sistently backed his father-
view. coon. vision of making El Paso an corporations for acquiring in-law's interests and "not
Worth at least $500 million "I think Bill has always industrial powerhouse "re- and managing buildings, once has he supported the
according to a conserva- helped in the background," ally laid the groundwork for land and property. He sold grassroots side."
tive Forbes estimate, Sand- said Mike Dipp Jr., an El Beto's rise, even before he his stake in La Salle in 1989 "Beto's standing was aided
ers has helped make Beto Paso businessman who has had probably met or heard and left for New Mexico. by his billionaire father-
and Amy O'Rourke million- known Sanders for years. of him." In the 1990s, Sanders found- in-law, and the billionaire
aires. O'Rourke won his city By the time O'Rourke came In the 1990s, Sanders had ed the Security Capital father-in-law was aided by
council race and briefly into his life, Sanders had been dubbed the "Warren Group and built companies Beto's standing," she said.
supported an ambitious, already spent decades at Buffett of real estate" for ac- that owned warehouses, O'Rourke's bid for election
though controversial and the top of America's real quisitions and investments storage units, office build- to the U.S. Congress began
ultimately unsuccessful, estate industry, a visionary that put him in control of a ings and parking garages. with a primary challenge to
plan to redevelop down- who spotted trends before massive portfolio of money- Sanders took a dim view veteran Democratic Rep.
town El Paso that Sanders others, developed strate- making commercial, indus- of real estate moguls like Silvestre Reyes in 2012, and
was leading. Later, Sand- gies to capitalize on them trial and residential proper- Donald Trump who moved Sanders was again there
ers' timely donation helped and built top-notch man- ties and made him one of from one splashy deal to to help. A super PAC, the
transform his son-in-law agement teams to execute America's largest landlords. the next. Sanders purposely Campaign for Primary Ac-
from longshot primary chal- his plans. Investment partnerships avoided skyscrapers in fa- countability, was co-found-
lenger to congressman, Sanders founded Verde tied to Sanders generated vor of less risky and lower ed by a Houston business-
setting him up to nearly up- Realty in 2003 to focus on more than $780,000 in inter- maintenance properties man and GOP donor that
set U.S. Sen. Ted Cruz last investments in the South- est and dividend income that he considered more election cycle to target
year and catapult him into west, where he believed for Beto and Amy O'Rourke lucrative for shareholders. incumbents from both par-
the presidential race. cheap labor costs and a over the last decade, tax re- "I don't give a darn what a ties and try to send new
O'Rourke's campaign says booming population would turns show. Sanders found- building looks like; I want to faces to Congress. q