On May 5, I published my special investigation Spencer Pratt: Loser (full article) including a companion podcast (listen now), revealing that he failed to disclose his wealth.
After the Palisades Fire he claimed that he lost everything. One of Spencer and his wife Heidi Montag’s friends set up a GoFundMe that collected over $143,000 in donations from their fans. The truth is, when the fires broke out, Speidi escaped to their $6 million dollar, second-home, a beach front mansion near Montecito in Santa Barbara County. They continued to live a lavish lifestyle as documented on their own TikTok accounts.
I dug deep and found that Pratt had a wealthy grandfather William Chauncey Pratt Jr. Spencer did not write much about him in his recent memoir. I thought that was unusual. His grandfather was a wealthy CEO of the highly successful Kelly-Clarke, Inc., the largest food distribution company in the Western United States.
I began digging into real property records in Los Angeles County. That’s where I found several properties passed on by Pratt’s grandfather to his father, then on to Pratt and his sisters.
The KSS Pratt Children’s Family Trust was created in 2007 by Spencer’s father William Chauncey Pratt III and mother Janet Pratt. They named the trust “KSS” after their three children: Kristen, Spencer, and Stephanie. Spencer’s parents transferred a 1 percent interest in each property to the trust in 2007, to take advantage of changes to gift taxes in the revenue code. Spencer’s parents created three LLCs, one for each property. They transferred the remaining 99 percent interest to each LLC. And eventually, they terminated the LLCs. Presumably each child holds a one third of the shares of each LLC but the Pratts are not required to disclose the membership units to the Secretary of State. Regardless, the LLCs are ghosts now.
On January 30, Pratt filed his initial disclosure but did not disclose the existence of the his family trust or his GoFundMe income.
Yet Pratt verified that the disclosures were “True and complete” under penalty of perjury.
Later that week, Pratt filed an amended Schedule A-2 which included various business entities he and his wife Heidi Montag had received income from. However, Pratt still did not disclose the family trust or GoFundMe.com income.
On May 5, I published my podcast Spencer Pratt: Loser (Listen Now) , and revealed my findings that he had withheld the trust from his financial disclosures.
California’s Fair Political Practices Commission (FPPC)—which is tasked with handling financial disclosures for public officials—got involved.
On May 28, days before the June 2 election, Pratt amended his disclosures to include the trust and three properties that he had originally hid. You can download his most recent amendment below for free.
Pratt listed the address of the KSS Pratt Children’s Trust of 2007 as his parent’s house that was destroyed in the Palisades Fire, i.e. 333 Lombard Ave, Pacific Palisades, CA 90272.
Pratt disclosed that he is the trustee of the three properties, including the two apartment complexes located at 823 5th Street and 1307 15th Street in Santa Monica. And the $6 million dollar beach front mansion at 4513 Del Mar Avenue, Carpenteria, Santa Barbara County, where Pratt and his wife Heidi Montag presently reside.
Last month, TMZ reported that Pratt was staying at the luxury Bel-Air Hotel. Pratt falsely told TMZ, “I don’t live in an Airstream, I don’t live in a [sic] Santa Barbara, I don’t have a house!”
Surprisingly, when Pratt amended his disclosures, he did not include the $143,000 in funds him and his wife Heidi have received from GoFundMe.
