Multimillionaire Bush's wealth eclipsed by Cheney

WASHINGTON, May 16 (Reuters) President George W Bush held assets worth 7.5 million dollar to 20 million dollar last year, but was eclipsed by his vice president's wealth, financial records released on Tuesday showed.

Bush's assets included his 1,600-acre ranch in Texas, valued at 1 million dollar to 5 million dollar, where he usually spends his vacations.

He also reported assets of 775,689 dollar from a limited liability company organized in 2003 to produce trees for commercial sales, which were expected in 2007.

Among his holdings were certificates of deposit, Treasury notes, a qualified diversified trust, and 116,000 dollar assets of the GWB Rangers Corp., which is wholly owned by Bush from when he was co-owner of the Texas Rangers baseball team.

Cheney reported assets valued at 21 million dollar to around 100 million dollar. Cheney gained much of his wealth from his former role heading oil service firm Halliburton Co.

Cheney's largest holdings included investments in an American Century Investments International Bond Fund and a Vanguard short-term tax-exempt fund. He has 100,000 Halliburton stock options that are unexercised and designated for charity.

The financial disclosure statements only give the value of assets in ranges.

Bush reported gifts totaling 12,364 dollar last year, including three separate sets of fishing equipment.

White House staff gave Bush two benches made of wood taken from the president's ranch, valued at 1,600 dollar, and a pair of 185 dollar cuff links.

Cheney gave Bush an exercise trainer and cycle computer valued at 400 dollar for his birthday and a 658 dollar wireless weather station for Christmas.

Bush gave Cheney a 667 dollar instrument to measure temperature, barometric pressure and tides for Christmas.

Bush received an assortment of clothing including shirts, ties, socks, cap and jacket. He received toy figures of explorers and accessories valued at 308 dollar, golf clubs and covers valued at 915 dollar, and three hand-carved wooden puzzles valued at 2,378 dollar.

The vice president reported receiving 21,674 dollar in gifts, including three fishing rods, a pair of 615 dollar leather hunting boots and a 399 dollar cowboy hat. The gifts were from individuals as well as groups such as the Fraser Institute in Canada and a company, Hatco Inc., of Texas which gave him the cowboy hat.

From senior members of the White House staff, Cheney received a 778 dollar gift of an iPod and a collection of compact discs.

REUTERS RKM PM0845