In September 2019, Sensenbrenner announced he would not seek reelection in the 2020 election. :We're fact checking the news and sending it to your inbox. To ensure consistency among data sets, home equity was withheld in a similar fashion to primary residences not being counted as assets for congressional data. Hollingsworth launched his campaign in his adopted home state of Indiana with over $3 million of his own money. Rep. Chellie Pingree is in her sixth term as congresswoman who represents Maine's 1st District, which is the southeastern section of the state. First elected to the U.S. Senate in 1984, Mitch McConnell is one of the longest serving members of Congress. Coming from a long line of Tennessee politicians, Jim Cooper served Tennessee's 4th District from 1983 through 1995 and District 5 since 2003. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. The latest batch of numbers shows that the 113th Congress had a median net worth of $1,008,767. He has been a senator since 1994. In the earliest days of American independence, members of the federal government were not paid a salary as most of them were wealthy to begin with. Pelosi's net worth in 2021 was estimated to be as much as $171.4 million in an October report by The Washington Free Beacon, a conservative news outlet that arrived at that figure "by taking into account the ranges of all the individual assets and liabilities" in Pelosi's financial disclosure statement. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch More than half of Isakson's estimated wealth is held in a blind trust he established in 2012. Because the study focuses on percentage increases, a gap in the study it is difficult to determine a meaningful percentage for a member who had a starting net worth in the negatives but increased to a positive net worth by 2012. OpenSecrets.org gathers this information to build a range of potential values. Members disclose the value of their assets in broad ranges. Before his election to Congress, Hill was a commercial banker and investment manager. External Relations: Moira Delaney Hannah Nelson Caroline Presnell These estimates assume no change in net worth between 2011 and 2012. Wyden's wife, Nancy Wyden, owns the famous Strand Bookstore in New York City. McCaul is thought to be the second-richest person in Congress, though none of the assets or holdings reported in his 65-page financial disclosure were his alone, belonging to his wife or dependent children. Bera worked as a medical doctor before choosing to run for elective office. Other major assets include several Vanguard index funds he holds jointly with his wife, Transportation Secretary Elaine Chao. Insider's calculations are conservative estimates based on the minimum values disclosed by members. Other notable holdings of Upton's include Apple, Raytheon, Amazon, Alphabet, Facebook, and Texas Instruments. [1][2] At the same time, 50 percent of Americans cannot afford to spend $5,000 in an emergency. The data goes from 2004 through 2012. Sen. John Kennedy is in his first term as senator from Louisiana. The. He entered the White House with a $1.4 million net worth and amassed an additional $5.6 million before he died, according to a report by American University. This study includes figures for the 113th Congress' freshman members because despite their terms beginning in 2012 they were required to filed the PFD during their candidacy in 2011. Those from personal acquaintances, contributions to legal defense funds and commemorative items. Because of this, Ballotpedia removed Pingree when calculating the averages for this study, while continuing to list her in the chart. The second-term congressman representing South Carolina's 5th District in the northern part of the state keeps most of his wealth in real estate holdings. For a complete list of members and their net worth changes, please click "show" below. CNN . Fred Upton has been in Congress since 1987 and has served Michigan's 6th District located in the southwest corner of the state since 1993. 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. Prior to his election, Fortenberry worked as a publishing industry executive in Lincoln. Filers must disclose the purchase, sale or exchange of any assets that amount to more than $1,000 in the calendar year in question. He is the great grandson of one of the key figures in the Kimberly-Clark Corporation, in which he once owned more than $2 million worth of stock. 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. 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. In the private sector, Alexander co-founded a law firm in Nashville as well as a chain of children's daycare centers. He. Members of Congress earn a salary of $174,000. peak net worth: $594.2 million In office: 1789-1797 George Washington was America's first president and also its wealthiest for more than a century. D.C.-based nonprofit OpenSecrets.org estimated Pelosi's net worth at $115. The company, now called iHeartMedia, is a $6.3 billion company. Williams recently violated the STOCK Act by failing to properly file three stock transactions by his wife. Paul Pelosi's company, Financial Leasing Services, has been highly successful in its investments in recent years and those investments have included shares in major firms such as Disney, Amazon and Google. Help us provide information on American politics. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. Do you have a question about Nancy Pelosi? It's not possible to know the precise net worth of members of Congress as they are only required to provide a range of values in their financial disclosures and not specific dollar amounts. Note that the ethics law does not require filers to report property, including personal residences, that is not held for investment purposes and does not produce income. In that case, a few very high numbers could, for instance, change the average, but they would not change the median. The . Williams also reported a stake in two aircraft-leasing companies. A few members of Congress' minimum sum of liabilities far surpassed the minimum sum of their disclosed assets. This data affords constituents the ability to see the real increase (or decrease) of each member's net worth. How much are your senators and representatives worth? Data on the net worth of members of Congress came from the 2018 Wealth of Congress report from CQ Roll Call, an intelligence and advocacy group based in Washington, D.C. Net worth figures are based on recent financial filings and are representative of the time that each House member or senator was beginning his or her term in the 115th Congress. The center's data for 2016 shows the members' financial data in three categories: minimum net worth, average and maximum net worth. That left her with about $4.3 million in her campaign coffers, according to the FEC. The main source of Kelly's wealth comes from the eponymous Mike Kelly Chevrolet Cadillac dealership, which he bought from his father and eventually expanded to include a Kia and Hyundai dealership. Your California Privacy Rights / Privacy Policy. Democrat Earl Blumenauer has represented Oregon's 3rd District for nearly two and a half decades. Sheldon Whitehouse is a third-term senator from Rhode Island who was re-elected by about 30 points in 2012. [5] This page is about changes in net worth of U.S. Feinstein was one of 48 members of Congress who Insider and other media organizations found in 2021 to have violated the STOCK Act. She is a newcomer to Congress, joining the ranks in 2021. Filers for the 2020 fiscal year were allotted an extra three months to submit their disclosures because of the pandemic. (January 2021) This list of members of the United States Congress by wealth includes the fifty richest members of Congress as of 2018. Travel and travel-related reimbursements from a single source, valued at more than $305 in aggregate for the year and connected to official business and the source, dates, and purpose of the travel and itinerary. However, all mortgages are required to be disclosed. The Courage to Change political action committee the congresswoman launched last year to back progressive candidates challenging incumbent Democratsspent about $335,000 out of the $842,000 it raised, according to the FEC. He is worth an estimated $31.2 million. "Medians are often used when data are skewed, meaning that the distribution is uneven. The work paid $17,000 a year, or about $130,000 in today's dollars. net worth in 2018: $19,145,013 > Assumed office: Jan. 3, 1987 > Current term ends: 2023 > Approval . Rep. Vern Buchanan of Florida's 16th District is worth an estimated $73.9 million. Filers are required to report detailed listings and values of holdings that underlie an account. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Jimmy McAllister Samuel Postell Congressional disclosure forms don't provide a precise number, but the midpoint. Chao also collected a salary during her tenure on the boards of Wells Fargo and News Corp. Rep. Mike Kelly was first elected to the U.S. House of Representatives in 2010. Because 2012 household net worth figures had not been released as of publication date, this figure represents the 2011 numbers adjusted for inflation. Carter started a pharmacy chain Carter's Pharmacy, Inc. in the Savannah area he now represents. Blumenauer has a law degree from Lewis and Clark Law School, and before becoming a legislator, he worked as the assistant to the president of Portland State University for seven years. Her student loan debt through the U.S. Department of Education at the time was listed as between $15,001 and $50,000. In 2021, Hern violated the STOCK Act by failing to properly disclose stock trades worth at least $1.06 million and as much as $2.7 million. Today, Kelly and his wife's financial filings include profits from the dealership and over 200 stocks, bonds, and mutual funds. Congress saw a total increase of $316.5 million in assets held by all members in the study.[5]. Trone is a relatively new member of Congress he assumed office in 2019. The data outlined on this page comes from OpenSecrets.org. In 1997 Gianforte founded RightNow Technologies, a cloud-based customer service program, which was bought for over $1 billion by Oracle Corp in 2012. 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. Before entering politics, two-term Sen. Joe Manchin worked at his family's furniture store, managed a carpet store, and then joined a coal brokerage. Democrat Suzan Delbene has represented Washington's 1st District since 2012. Thank you for supporting our journalism. Ballotpedia features 408,463 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. Much of his $27 million fortune came from a career as an economist and intellectual property lawyer. Jim Risch has served Idaho on Capitol Hill as Senator since 2009. Sign up to get that here. Sen. Joe Manchin III of West Virginia. Obernolte did not report any liabilities or debts. Phillips has an ownership stake in several businesses, various stock holdings, mutual funds, government securities, various life insurance policies, and hedge funds. The public employee retirement fund amount should have been in the thousands and not millions. He went on to sell it for $10 million to McAfee . After receiving his medical degree and following his residency, Marshall returned to Kansas and established his medical practice in the town of Great Bend. The only assets that Pelosi reported owning or joint-owning were her home in Napa, California, and a Wells Fargo bank account containing less than $15,000. She is an emeritus professor at Harvard University. The data goes from 2004 through 2012. Congressional net worth figures are a relatively small data set,[38] so Ballotpedia used average percentage changes throughout the study (adjusted as needed for outliers)[39] to best illustrate the average growth of wealth of members of Congress. In lieu of an honoraria, they may designate an amount to be donated to charity. 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. Like several other lawmakers on this list, Blumenthal married into his vast fortune. However, there were substantial increases in wealth of the members who fell into this category. David B. McKinley represents the 1st District of West Virginia, which is in the northern part of the state. Blunt Rochester previously held several high ranking positions in the Delaware state government, including secretary of labor and was previously married to a former NBA player. For instance, if three assets are listed at a value range of $1,001-$15,000, the total range of assets would be listed as a minimum of $3,003 (3 X $1,001) and a maximum value would be $45,000 (3 X $15,000). Rep. Ann Wagner held management posts at Hallmark Cards and Ralston Purina before she was elected to the first of her four terms as a congresswoman from Missouri. 5. Do you have a tip on a politics story that Newsweek should be covering? Mortgages reported on properties that were not listed as assets were excluded from the wealth calculations, but are displayed on our profiles of the corresponding officials. He ran Sara Lee Corp.'s Asia unit and was an executive with Haggar Clothing and footwear company Reebok. They obtained the data from personal financial disclosure data that each senator and representative is required to provide for public record. 60. Abraham graduated from the Louisiana State University School of Veterinary Medicine and practiced for 10 years before he got his medical doctor degree. Phillips, who joined Congress in 2019, reported at least $2 million in liabilities in the form of mortgages. The first-term senator from North Carolina was an executive at PricewaterhouseCoopers and IBM. Pingree sold the business in 1993 and now co-owns a bed & breakfast and restaurant in North Haven. See the sources for this fact-check. Top editors give you the stories you want delivered right to your inbox each weekday. Two Facebook users who shared the post did not respond to requests for comment. [40] The median figure can be beneficial in circumstances, like this one, where the high net worth of the wealthiest Americans can skew the average. Peters reported two liabilities worth at least $30,000 in total, for "revolving credit.". See which incumbents had the largest gains in net worth. 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. During a September 2019 hearing on student loan debt, Ocasio-Cortez said she made a payment that had reduced her student loan debt to $19,000. First elected to the Wisconsin State Senate in 1978, Rep. Jim Sensenbrenner is currently the second longest serving member of the House of Representatives. 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. Rep. Nita M. Lowey has served in Congress since 1989, and currently represents New York's 17th District located in southern New York State, just north of New York City. For this reason, Ballotpedia studied the freshmen members of both the 113th Congress (which began in January 2012) and the 112th Congress (which began in January 2010). The bulk of his estimated net worth of $12.3 million, however, comes from Cooper Brothers Land Co., a real estate firm the congressman owns with his two brothers. For information on which members saw the highest change during their tenure, please see Ballotpedia's page on the Changes in Net Worth of U.S. Below are average net worth numbers for first year freshman members for each recent session of Congress. 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. Republican Francis Rooney was well known in Republican Party circles long before he took office in Florida's 19th District in 2017. In September, Democratic Representative Abigail Spanberger slammed Pelosi for her apparent inaction on legislation that would require lawmakers' investment assets to be placed in a blind trust. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Jimmy McAllister Samuel Postell 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. Hollingsworth's wealth primarily comes from his involvement with Hollingsworth Capital Partners, a Tennessee group that builds and markets industrial facilities in 17 states, according to his financial disclosure. Roll Call published its Wealth of Congress report, which ranks the net worth of the 115th Congress.. Before serving in Congress, Mullin dropped out of college to manage the family's plumbing company, building it into a regional business. 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,. Congressional millionaires had an average yearly percentage increase of 23.9 percent. In the private sector, Coons was an attorney with Delaware-based manufacturing company W.L. Hern's wealth is split between trusts and IRAs belonging to him and his immediate family. Others, meanwhile, have married into or inherited vast fortunes. Maloney & Co. from 1981 until his death in 2009. The year each House member or senators current term ends came from nonprofit political encyclopedia Ballotpedia. This report compared average and median data, and in both cases the growth of congressional net worth significantly outpaced that of the American citizen. When this is the case, it is expressed with a negative percent. as well as other partner offers and accept our, Alex Wong/Getty Images; Kevin Dietsch/Getty Images; Bill Clark/CQ Roll Call; Hannah McKay-Pool/Getty Images; Rebecca Zisser/Insider, Chance Yeh/Getty Images for Power 100 Lunch, Bill Clark/CQ-Roll Call, Inc via Getty Images), Bill Clark/CQ-Roll Call, Inc via Getty Images, Tom Williams/CQ-Roll Call, Inc via Getty Images, Michael Brochstein/SOPA Images/LightRocket via Getty Images, Kent Nishimura / Los Angeles Times via Getty Images, Anna Moneymaker/The New York Times via AP, Pool, placed his assets in a qualified blind trust, acknowledged filing an incorrect personal financial disclosure. This allows us to: For more detailed information on the actual net worth of members of Congress, rather than the growth of their net worth, please see: Net worth of United States Senators and Representatives. Buchanan earned much of his fortune through car dealerships and through his involvement in charter jet and yacht leasing. Rep. Young passed away on October 18, 2013. 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. Member of Congress: Liz Cheney Chamber: House Party: Republican Estimated net worth: $14,710,513 More From GOBankingRates. 1st: George Washington Est. DeLauro is married to political strategist and best selling author Stanley Greenberg. He also invested in the digital entertainment company Real Networks, which streams media on the Internet. Matsui's listed holdings were spread out among exchange-traded funds, money-market funds, limited liability companies, and trusts. She has amassed her wealth through the business activities of her husband, Paul Pelosi. He snagged his first job in D.C. in 1968, working as the chief legislative assistant to Kentucky Sen. Marlow Cook. Income from the taco restaurant where she tended bar and from her 2018 congressional campaign totaled $25,463. Now married to another Microsoft executive, she is worth an estimated $28.4 million. While an analysis of financial disclosures by the Center for Responsive Politics last year found that the majority of members of Congress are millionaires, Ocasio-Cortez would not be one of them. Approximately half of McConnell's estimated wealth comes from a $5 million gift from his father-in-law in 2008. Of the "Top 100", 56 are Republicans, 43 are Democrats and one is an Independent. A Pioneer of Paid Speeches Paul also has invested in Apple, Disney, Comcast, and Facebook. Fact check:Viral posts make false claims about Friday the 13th, the next full moon. That data, currently available for the years 2004 to 2010, is listed in part below in the section Individual data. For a direct comparison to each individual member's figures (as shown on his or her Ballotpedia profile), the yearly change will correspond with each member's average yearly change. The first-term senator from South Dakota Mike Rounds made his wealth by running insurance and real estate businesses with locations all over the state. McCaul, who represents Texas's 5th District, amassed much of his wealth through his marriage to Linda McCaul, whose father founded Clear Channel Communications. Sen. Johnny Isakson was elected to the U.S. House of Representatives in 1998, and to the U.S. Senate in 2004. A part of the family behind the eponymous Midwestern grocery chain, Meijer reported that the bulk of his wealth was held in a "generation-skipping trust" that contained, among other assets, stock in Johnson & Johnson, Home Depot, Tesla, and Visa. Manning's fortune is split among government securities, mutual funds, exchange-traded funds, real property, and stocks. 1 spot on the list through his extensive holdings in stocks, bonds, LLCs, private-equity funds, gold trusts, and treasury notes. When she took office in 2019, Ocasio-Cortez reported in her first financial disclosure that she had a checking account, a brokerage account and a 401(k)plan through the National Hispanic Institute that were worth between $3,003 and $45,000. This was an inflation-adjusted annual percentage change of 3.7 percent from 2004 to 2012. Senators and Representatives, Ken Carbullido, Vice President of Election Product and Technology Strategy, https://ballotpedia.org/wiki/index.php?title=Changes_in_Net_Worth_of_U.S._Senators_and_Representatives_(Personal_Gain_Index)&oldid=8739186, 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. Feinstein herself has a $25 million plus stake in Carlton Hotel Properties. The data also includes some former members, whose net worth would have been calculated at the end of their term in the 112th Congress. Currently, used car information website Carfax is Beyer's top campaign contributor. "It's yet another example of why I believe that the Democratic Party needs new leaders in the halls of Capitol Hill," she said. Assets held for investment or the production of income that were worth more than $1,000 at the end of the calendar year, must be reported. When brought to my attention, I corrected the form and resubmitted it to the House where it will again be made publicly available." Senators and Representatives (Personal Gain Index), Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License, Information on financial disclosure forms from the Office of the Clerk of the House of Representatives, Older congressional financial disclosure forms available on, Net Worth of United States Senators and Representatives, 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. Ocasio-Cortez spokeswoman Lauren Hitt said the financial disclosure reports are accurate but provided no additional comment. However, our bipartisan reform coalition was then subjected to repeated delay tactics, hand-waving gestures, and blatant instances of Lucy pulling the football," Spanberger said in a statement. When she scored a surprise victory during the 2018 Democratic primary, Ocasio-Cortez spent about $1.8 million of the $2.2 million she raised. When the members who lost money during this time period are removed from the calculation,[35] the growth in wealth among the "wealth gainers" stands out. Sixteen . Only House members and senators currently serving in the 116th congress were considered. Other notable stocks owned by Jacobs includes more than $100,000 invested in stocks of Apple, Microsoft, and Mastercard. 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. It is no wonder, then, that when the average citizen has the means to take a peek at each members ability to handle his or her personal finance, intrigue abounds. Blumenthal's only liability listed in his financial filings was a 30-year mortgage on his home that his wife took out in 2011. Matsui's husband, Roger Sant, is the founder of the AES Corporation, a Fortune 500 holding company specializing in electricity generation and distribution. Hern disclosed two liabilities: at least $500,000 used to purchase a McDonald's restaurant, and at least $1 million that his spouse used to buy a separate company. majority of members of Congress are millionaires. Speaker of the House Nancy Pelosi will leave her role in the Democratic leadership when the new Congress meets on January 3and she will depart considerably wealthier than when she began. Take Our Poll: What Do You Plan To Use Your Tax Refund For? Because many members went from a negative net worth to a positive net worth during the years calculated, this figure is an important figure because the total asset increase can figure in all members' asset growth, including the members who did not have a meaningful percentage change due to increasing from a negative to a positive net worth. Fox News host Tucker Carlson speaks at a National Review Institute event on March 29, 2019, in Washington, D.C. Estimated wealth is at least $100 million in 2012 dollars, for all the people listed here. The congressman's wife, Lynn Gorguze, is the president and CEO of a private equity firm, Cameron Holdings. Insider compiled members' annual disclosures filed this year, analyzing thousands of pages of documents to estimate the minimum and maximum net worth of members of the US Senate and the US House of Representatives, including nonvoting delegates. OpenSecrets.org (The Center for Responsive Politics), a self-proclaimed "nonpartisan guide to money's influence on U.S. elections and public policy," tracks the financial information, and posts it publicly under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License. Rep. Greg Gianforte has an estimated net worth of $135.7 million and attributes most of his wealth to a software company he built in the 1980s. This page is about changes in net worth of U.S. Before becoming vice president of mobile connections marketing for Microsoft which is headquartered in her district Delbene launched two successful internet startups. Gianforte amassed his fortune after founding a software company in the mid 1980s, which he eventually sold to McAfee Associates. The ten current senators and representatives listed below experienced the highest overall net worth gains (by percentage) from 2004-2012. The bulk of his fortune is from his wife, Linda, the daughter of the founder of the media giant iHeartRadio. He reported one liability in his financial filings: a business loan worth at least $5 million from PNC Bank.
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