How much are your senators and representatives worth? Tucker Carlson ousted at Fox News following network's $787 million settlement. Sen. John Hoeven built his wealth by working in banking in North Dakota. In July, Phillips placed his assets in a qualified blind trust approved by the House Committee on Ethics, meaning he'll retain little control over his assets while he's a member of Congress. We estimated the net worth of members of Congress by analyzing financial-disclosure reports. Sen. Elizabeth Warren, in her second term as senator from Massachusetts, is seeking the Democratic Party's nomination for president. Disclaimer: All data relating to the average net worth of individual members of congress from OpenSecrets.org/ The Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. Dingell worked at General Motors for more than 30 years where she was president of the GM Foundation as well as a senior executive responsible for public affairs. Members of Congress are required to disclose the value of their assets only in broad ranges, such as $15,000 to $50,000. Ocasio-Cortez spokeswoman Lauren Hitt said the financial disclosure reports are accurate but provided no additional comment. Earning an annual salary of roughly $174,000 certainly contributes toward their wealth, but many of these lawmakers were rich to being with. Members of Congress are permitted to ask for a three-month extension. In a statement, Mrvan said: "I am responsible for the actions of my office, and I take sole responsibility for the honest data entry error on my financial disclosure form. Roger Marshall is in his second term as the congressman representing the 1st District of Kansas, which encompasses mostly the western part of the state. How much are your senators and representatives worth? It displays the net worth (the difference between assets and liabilities) for the member and their immediate family, such as a spouse or dependent children. Apply for the Ballotpedia Fellows Program, Net worth of United States Senators and Representatives, Staff salaries of United States Senators and Representatives, Ballotpedia's profiles of the 535 congressional incumbents, Personal Gain Index: Household net worth (American citizen), http://www.census.gov/people/wealth/data/dtables.html, List of current members of the U.S. Congress, Information on financial disclosure forms from the Office of the Clerk of the House of Representatives, Older congressional financial disclosure forms available on, Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License, http://www.opensecrets.org/pfds/methodology.php, Democratic Congressional Campaign Committee, National Republican Congressional Committee, Net Worth of United States Senators and Representatives, Filing requirements for congressional candidates, Homeland Security and Governmental Affairs, United States House of Representatives Committee on Oversight and Government Reform, Cooperative of American Physicians IE Committee, Changes in Net Worth of U.S. He also was the founding chairman of Summit Bank, based in Panama City. Hern's wealth is split between trusts and IRAs belonging to him and his immediate family. Pelosi, the speaker of the House, reported personal wealth spread out among property holdings, mutual funds, and stocks owned by her husband. He is the longest-serving Indian American currently in Congress. In 1997 Gianforte founded RightNow Technologies, a cloud-based customer service program, which was bought for over $1 billion by Oracle Corp in 2012. And much of Romney's fortune is in Goldman Sachs mutual funds. Any liability or loan where the filer, his or her spouse or his or her dependent children owed more than $10,000 at any time during the calendar year. Feinstein is married to Richard Blum, founder of Blum Capital, an equity investment firm that has stakes in multiple industries, including health care, media, retail, finance, and transportation. McKinley founded the architectural and engineering company McKinley & Associates. Let us know via politics@newsweek.com. More than half of Isakson's estimated wealth is held in a blind trust he established in 2012. This included members of Congress. Your California Privacy Rights / Privacy Policy. OpenSecrets combines all assets and liability to form a total potential range of values, and then provides an average value as the best guess of each individual's net worth. Members of Congress come from a wide range of backgrounds from local politics to business and entrepreneurship to professional sports and their fortunes vary greatly. For the full set of data, please visit our Google spreadsheet here. Sen. Richard Blumenthal of Connecticut. Congressional millionaires had an average yearly percentage increase of 23.9 percent. This is the first part of the Personal Gain Index. Here are those "poorest" members. Here are the richest members. They obtained the data from personal financial disclosure data that each senator and representative is required to provide for public record. Pelosi became speaker for the first time in 2007 and served until 2011. Those from personal acquaintances, contributions to legal defense funds and commemorative items. OpenSecrets gathers this information to build a range of potential values. Republican Paul Mitchell, elected to serve Michigan's 10th District in 2016, is worth an estimated $37.7 million. 24/7 Wall Street is a USA TODAY content partner offering financial news and commentary. Using his fortune from his family business, Manhattan Construction Group, Rooney donated enough to the GOP to earn an ambassadorship during the George W. Bush administration. Rosen worked for companies such as Citibank and Southwest Gas Company before she was elected to Congress. Sign up to get that here. Insider's calculations are conservative estimates based on the minimum values disclosed by members. Now married to another Microsoft executive, she is worth an estimated $28.4 million. Upton also reported having at least $1 million in Pepsi stock. While financial disclosures show that Ocasio-Cortezs personal wealth has not skyrocketed during her time in Congress, her political fundraising has taken off alongside her national profile, according to Federal Elections Commission filings. Because 2012 household net worth figures had not been released as of publication date, this figure represents the 2011 numbers adjusted for inflation. Drew Hammill, Pelosi's deputy chief of staff, said in a statement in July this year that the speaker "does not own any stocks.". Help us provide information on American politics. In the private sector, Coons was an attorney with Delaware-based manufacturing company W.L. Worth an estimated $70 million, Democratic Sen. Richard Blumenthal of Connecticut is wealthier than all but a handful of other lawmakers on Capitol Hill. Notable stocks held by Hern and his family included more than $250,000 worth of Amazon, at least $100,000 worth of Alphabet, and more than $530,000 worth of Microsoft. Senators and Representatives, Ken Carbullido, Vice President of Election Product and Technology Strategy, https://ballotpedia.org/wiki/index.php?title=Net_worth_of_United_States_Senators_and_Representatives&oldid=8826276, Conflicts in school board elections, 2021-2022, Special Congressional elections (2023-2024), 2022 Congressional Competitiveness Report, State Executive Competitiveness Report, 2022, State Legislative Competitiveness Report, 2022, Partisanship in 2022 United States local elections, The ten wealthiest (and poorest) members of both the, How members' net worth has changed from previous years, How much the congressional delegations of each state are worth, Breakdown of net worth between House and Senate, A complete list of the net worth averages for congressional members since 2004. Changes in Net Worth of U.S. Data is not available for a limited number of congressional members. Scott did not list any liabilities or debts in his filings. :We're fact checking the news and sending it to your inbox. The representative reported one liability: a mortgage worth at least $15,001 through JPMorgan Chase. Through most of her 20s, Ocasio-Cortez lived paycheck to paycheck, according to Time. South Carolina Rep. Ralph Norman worked as an executive at Warren Norman Co., a development company started by his father that builds office parks, commercial buildings, and residential housing. Sen. Michael Bennet first became senator in 2009 to fill the vacancy created by the resignation of Kenneth Salazar. External Relations: Moira Delaney Hannah Nelson Caroline Presnell The reports cover 2020 and provide the most up-to-date estimate of members' net worth. The Center for Responsive Politics is posted under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License. Gore & Associates. He built much of his wealth from Pacur, a specialty plastics company he co-founded with his brother-in-law in 1979. Comenity Direct Savings and CDs: Safe Places To Make the Most of . Williams' wealth comes from multiple auto car dealerships in northern Texas and some valuable real estate. The trust contains government securities, mutual funds, and more than $6 million in stock of Qualcomm, a semiconductor company co-founded by her grandfather, Irwin M. Jacobs. The bulk of Romney's wealth derives from his success at Bain Capital, a private-equity investment firm where he rose to CEO. If a member gains, expect the gain to be large. Net worth figures are by no means comprehensive or exact, as members of Congress are not required to report their principal residences or their contents (the largest assets for most Americans), and they report their financial assets and liabilities in broad ranges of value. The wealthiest 15 members were worth at least $1.3 billion, half of Congress' wealth. They occasionally also report the combined value of the account, in which case the combined value is omitted from calculations. [7], This requirement also extends to candidates for federal office, senior congressional staff, nominees for executive branch positions, Cabinet members, the president and vice president and Supreme Court justices. The 2004 figure was adjusted for inflation to 2012 dollars. Her investments in the stock market have also earned her substantial capital gains. Phillips held more than $250,000 worth of Apple stock, at least $50,000 worth of Facebook stock, and over $1 million in the SPDR S&P 500 Trust ETF. [3], The median American citizen[4] saw his or her household net worth decrease from 2004 to 2012 by an annual rate of -0.94 percent, while members of Congress experienced a median annual increase of 1.55 percent. This includes her salary as an elected official and income from her business ventures. He is a cofounder of Penny's Coffee, a Minnesota-based coffee shop chain, a former chairman for Talenti Gelato, and the former CEO of Phillips Distilling Company. if(document.getElementsByClassName("reference").length==0) if(document.getElementById('Footnotes')!==null) document.getElementById('Footnotes').parentNode.style.display = 'none'; Communications: Alison Graves Carley Allensworth Abigail Campbell Sarah Groat Erica Shumaker Caitlin Vanden Boom Rose also owned at least $500,000 worth of stock in Citizens Bank and more than $100,000 worth of Alphabet stock, and he reported 100% ownership of Rose Farm, worth between $5 million and $25 million. Now, in recent social media posts, Facebook users are raising questions about the New. The public employee retirement fund amount should have been in the thousands and not millions. If we use the average net worth category for the House and . Blumenthal's only liability listed in his financial filings was a 30-year mortgage on his home that his wife took out in 2011. Based on the $19,000 in student loan debt Ocasio-Cortez said she had in September 2019, she could be in the hole to the tune of nearly $17,000. This was set by the "Ethics in Government Act of 1978." Only lawmakers with an estimated net worth of more than $3 million are included on this list. He ran Sara Lee Corp.'s Asia unit and was an executive with Haggar Clothing and footwear company Reebok. He holds another $1 million in funds in a personal account at First Western. Before representing Washington's 4th District on Capitol Hill in 2015, Republican Dan Newhouse served as the director of Washington state's Department of Agriculture. Note that in order to have an apples-to-apples comparison between the household net worth of U.S. (January 2021) This list of members of the United States Congress by wealth includes the fifty richest members of Congress as of 2018. As stated above, this is the total change in the amount of assets the. Some incumbents experienced a net loss in net worth. Click here to contact us for media inquiries, and please donate here to support our continued expansion. In 1982, after serving for five years as a U.S. Attorney for Connecticut, Blumenthal married Cynthia Malkin, daughter of Manhattan real estate mogul Peter Malkin. Ballotpedia features 408,463 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. She is an emeritus professor at Harvard University. (Note that elected officials and senior staff may only earn outside income up to $26,100 a year. Three newer members of Congress Reps. Much of his money is held in bonds and mutual funds, though he has real estate holdings worth about $1.4 million. In her most recent financial disclosure, filed in September 2020, Ocasio-Cortez reported between $2,003 and $31,000 in assets, compared with student loan debt of between $15,000 and $50,000. spent about $1.8 million of the $2.2 million she raised. Congressmen and that of the American citizen, the value of equity in the citizen's personal residence was not taken into account in calculating the net worth of the average citizen, since the value of the personal residence of a Congressman is not included in their disclosure of their household net worth. Click here to contact our editorial staff, and click here to report an error. Much of Issa's fortune comes from a car-alarm system called Steal Stopper and his time as the CEO of Directed Electronics. Norman also reported four liabilities worth a total of at least $2 million, each in connection to his property investments. For a direct comparison to each individual member's figures (as shown on his or her Ballotpedia profile), the yearly median change will correspond with each member's average yearly change. D.C.-based nonprofit OpenSecrets.org estimated Pelosi's net worth at $115 million in 2020, a rise of $41 million since 2004 - the first year OpenSecrets began tracking members' personal finances. The New York Post estimated that the Pelosis had made between $5.6 million and $30.4 million between 2007 and 2020 through capital gains and dividends from investments in five tech companies - Facebook, Google, Amazon, Apple and Microsoft - based on public disclosures. With a total estimated net worth just shy of $11 million, Lowey is one of only a handful of women to rank among the 25 richest legislators. 51. The Speaker has no prior knowledge or subsequent involvement in any transactions," Hamill said. Much of Upton's wealth is old family money, as his paternal grandfather patented an early iteration of the modern electric washing machine and founded a company that is now home appliance giant Whirlpool. Those in Congress who held assets above the median net worth of $1 million in 2012 also saw a hefty annual percentage increase. Both the average and median for congressional and American citizen net worth growth are provided below. See which incumbents had the largest gains in net worth. Viral posts make false claims about Friday the 13th, the next full moon. Jacobs listed one liability in her financial disclosure: a mortgage on a Washington, DC, property worth at least $500,000. Many of the wealthiest legislators first had successful and lucrative careers in the private sector. Peters' wealth is mostly in government securities, though he and his spouse have also invested in several mutual funds. Take Our Poll: What Do You Plan To Use Your Tax Refund For? Repiblican Roger Williams represents the 25th District in Texas a strip of land that extends from Fort Worth down to Austin. Lawmakers are not required to disclose certain classes of personal assets, such as the value of their personal residence, so these assets are not included in Insider's calculations. Our fact check work is supported in part by a grant from Facebook. 72. Senator must file.[8]. These five members' negative estimated wealth stemmed from high-priced mortgages: Editor's note: Rep. Frank Mrvan, a Democrat from Indiana, originally appeared among the 25 wealthiest members of Congress. 24/7 Wall St. reviewed the estimated net worth of U.S. congressional representatives from Roll Call, a Capitol Hill news outlet, to identify the 76 richest members of Congress. We're fact checking the news and sending it to your inbox. Buchanan also founded a printing company, American Speedy Printing, in the late 1970s. Democrat Rosa DeLauro has represented Connecticut's 3rd District which covers the central part of the state along the coast since 1991. Wyden's wife, Nancy Wyden, owns the famous Strand Bookstore in New York City. The Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. Blumenthal's fortune is held almost entirely by his wife, Cynthia Malkin, with millions of dollars reported in various hedge funds, stocks, and real estate and property partnerships. He serves as chairman of the Senate Committee on Appropriations. Williams recently violated the STOCK Act by failing to properly file three stock transactions by his wife. From 2011 to 2012, the average net worth change of a freshman member of the 113th Congress in one year was: The following 15 freshman senators and representatives of the 113th Congress saw their net worth increase the most out of their incoming class of new members: From 2009 to 2012, the average net worth change of a freshman member of the 112th Congress in three years[55] was: The following 15 freshman representatives of the 112th Congress (no senators made the top 15 list) saw their net worth increase the most out of their incoming class of new members: The amount of assets held by individual members increased by a total of $316.5 million between 2004 (or later, depending on when the member joined Congress) and 2012.[56]. Rep. Denny Heck is in his fourth term serving the 10th District of Washington state, which includes the state capital of Olympia. The bulk of Obernolte's fortune stems from his ownership of FarSight Studios, a video-game company in Big Bear Lake, California, that he launched in 1988. Lowey is married to a prominent Wall Street attorney, who co-founded his own firm that specializes in securities and merger litigation. At the start of his 2020 presidential campaign Biden released his financial information disclosures as well as state and federal tax returns for 2016, 2017, and 2018 and based on those forms,.
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