Other notable holdings of Upton's include Apple, Raytheon, Amazon, Alphabet, Facebook, and Texas Instruments. The top range for item valuation is listed as "Over $50 million" on forms. Republican Francis Rooney was well known in Republican Party circles long before he took office in Florida's 19th District in 2017. Gore & Associates. Click here to contact us for media inquiries, and please donate here to support our continued expansion. Obernolte, who joined Congress in 2019, also reported several investments worth millions in Vanguard tax-managed mutual funds. List of richest American politicians - Wikipedia Now married to another Microsoft executive, she is worth an estimated $28.4 million. However, she has other sources of income. 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. Democrat Suzan Delbene has represented Washington's 1st District since 2012. Prior to his election to Congress, Marchant founded a construction and home building business. Sen. Steve Daines served in a management position at Procter & Gamble, worked in his family's construction company, and was a vice president at a cloud-computing startup that was eventually bought by Oracle in 2012. He went on to sell it for $10 million to McAfee . How much are your senators and representatives worth? 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. This data affords constituents the ability to see the real increase (or decrease) of each member's net worth. Even though they weren't required to do so, some filers did list the value of their personal residences; when they did, we included the information in our totals and detailed listings. He joined Congress in 2021. Filers for the 2020 fiscal year were allotted an extra three months to submit their disclosures because of the pandemic. U.S. House of Representatives Republicans, U.S. House of Representatives Independents. Senators and Representatives during their time in office. The congressman served for 18 years in Congress before briefly leaving and becoming President Donald Trump's nominee to head the US Trade and Development Agency. The latest batch of numbers shows that the 113th Congress had a median net worth of $1,008,767. The earliest average was then adjusted for inflation. U.S. House of Representatives Press Gallery, accessed March 9. 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. Blum is an investor and the president and chairman of Blum Capital, a private equity company. 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. For example, Sen. John McCain would have his net worth percentage divided by eight (2004-2012), since those are the years for which data is available for his net worth. When possible OpenSecrets tried to determine a more accurate figure. Much of his $27 million fortune came from a career as an economist and intellectual property lawyer. During the defense's cross-examination of E. Jean Carroll, Trump's attorney asked the writer why she "did not scream" when she was "supposedly raped.". He is the longest-serving Indian American currently in Congress. Upton's fortune mainly derives from an appliance company that his grandfather founded, Whirlpool, which the congressman reported holding at least $1 million of stock in. Presidential wealth: The net worth of every American president - USA Today 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 Norman also reported four liabilities worth a total of at least $2 million, each in connection to his property investments. Tucker Carlson ousted at Fox News amid lawsuit alleging sexism : NPR Take Our Poll: What Do You Plan To Use Your Tax Refund For? Viral posts make false claims about Friday the 13th, the next full moon. This page is about changes in net worth of U.S. By clicking Sign up, you agree to receive marketing emails from Insider The 2004 figure was adjusted for inflation to 2012 dollars. 51. Buchanan also founded a printing company, American Speedy Printing, in the late 1970s. 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. One of Norman's IRA's is worth at least $5 million. All other content, including data analysis of net worth change, is posted under Ballotpedia's standard content license. Kennedy's fortune comes from old family money specifically that of his great-grandfather, who was a businessman, and his great-great-grandfather, who was a co-founder of Standard Oil. If a member gains, expect the gain to be large. 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. Rep. Debbie Dingell is serving her third term as representative of Michigan's 12th District, which is located in the southeast corner of the state. Both the average and median for congressional and American citizen net worth growth are provided below. 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. 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. Buchanan's wealth primarily comes from his ownership of several car dealerships, in addition to a limited liability company that was labeled as "Aircraft Holding & Leasing" and valued at $25 million to $50 million. The figures reflect the. net worth in 2018: $19,145,013 > Assumed office: Jan. 3, 1987 > Current term ends: 2023 > Approval . 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. Federal Election Commission, accessed March 9. iHeartMedia is a leading contributor to McCaul's reelection campaign. Only lawmakers with an estimated net worth of more than $3 million are included on this list. Speier is of counsel at the law firm of Hanson Bridgett LLP in San Francisco. Matsui's husband, Roger Sant, is the founder of the AES Corporation, a Fortune 500 holding company specializing in electricity generation and distribution. Because 2012 household net worth figures had not been released as of publication date, this figure represents the 2011 numbers adjusted for inflation. Trone is a relatively new member of Congress he assumed office in 2019. Joe Biden Net Worth 2021 - How Did Joe Biden Earn His Money? Insider removed him from the list when Mrvan acknowledged filing an incorrect personal financial disclosure that erroneously inflated the value of a retirement account by tens of millions of dollars. He. 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. 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. Democrat Rosa DeLauro has represented Connecticut's 3rd District which covers the central part of the state along the coast since 1991. Rep. Lisa Blunt Rochester of Delaware. See which incumbents had the largest gains in net worth. Warren received an advance of about $300,000 for her book "This Fight Is Our Fight," published in April 2017. For the first time in history, the majority of America's elected officials in Washington, D.C. are millionaires. Elected officials and senior staff are prohibited from receiving honoraria for speeches, articles or appearances. 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. 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. The data used to calculate changes in net worth may include changes resulting from assets gained through marriage, inheritance, changes in family estates and/or trusts, changes in family business ownership and many other variables unrelated to a member's behavior in Congress. The Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. Click here to contact our editorial staff, and click here to report an error. Rep. Susan W. Brooks is serving her fourth term in Congress. Each year, every member of Congress is required to file a detailed report disclosing their financial holdings. CNN . This was an inflation-adjusted annual percentage change of -0.94 from 2004 to 2012. Today, though all congressional representatives earn salaries, not much else has changed. In a post shared more than 14,000 times, a Facebook user claims that Ocasio-Cortez was broke when she was first elected to Congress in 2018 but now has anet worth of more than $1 million. 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]. All of Beyer's assets were jointly owned, in a combination of stocks, government securities, and real property. Upton also reported having at least $1 million in Pepsi stock. Republican Michael McCaul is one of only a handful of legislators on Capitol Hill with an estimated net worth of over $100 million. 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. "As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked 'SP' for Spouse. Still, the wealthiest congressional representatives did not earn their fortunes as public servants. An average value is calculated by adding all the observations and dividing by the number of observations. He also invested in the digital entertainment company Real Networks, which streams media on the Internet. Ami Bera is serving his fourth term as representative of California's 7th District, which covers the state capital of Sacramento. The top range for Senate spousal assets is listed as Over $1 million." Fact check: How many millionaires are in Congress, compared to - WRAL Prior to his election to Congress, Shelby was an attorney. Sen. Jacky Rosen, serving her first term as senator from Nevada after serving as a congresswoman, is a former computer programmer. 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. 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. 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. Congressional millionaires had an average yearly percentage increase of 23.9 percent. He was the first former president to monetize his time in the office, according to The Washington Post. 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. The average yearly percentage increase for those members who increased their net worth was 43.6 percent. Our fact check work is supported in part by a grant from Facebook. The average change in net worth for the members in this study was 72.6 percent. Bennet would be elected one year later. That data, currently available for the years 2004 to 2010, is listed in part below in the section Individual data. 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). During his initial campaign and subsequent re-election campaigns, Johnson has touted his entrepreneurial credentials, highlighting the fact that he is the only manufacturer in the Senate. Coming from a long line of Tennessee politicians, Jim Cooper served Tennessee's 4th District from 1983 through 1995 and District 5 since 2003. He ran Sara Lee Corp.'s Asia unit and was an executive with Haggar Clothing and footwear company Reebok. Currently, used car information website Carfax is Beyer's top campaign contributor. This is the first part of the Personal Gain Index. Its content is produced independently of USA TODAY. Phillips has an ownership stake in several businesses, various stock holdings, mutual funds, government securities, various life insurance policies, and hedge funds. Currently, the top industrial contributors to Williams's campaign are oil and gas and automotive. U.S. Speaker of the House Nancy Pelosi (D-CA) delivers remarks from the House Chambers of the U.S. Capitol Building on November 17, 2022 in Washington, DC. Two Facebook users who shared the post did not respond to requests for comment. Issa did not report owning any individual stocks his wealth is largely held in diversified stock funds and his ownership of properties in California and Ohio. One could say that the new retirement plan is to get elected and then re-elected (that is the key) to Congress and you will be set for life. Rep. Young passed away on October 18, 2013. Rep. David B. McKinley of West Virginia. Net worth figures are rounded estimates derived from financial disclosure forms filed in 2018 and are not necessarily comprehensive or exact. Curtis was the former mayor of Provo, Utah, and a small business owner. 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. Earning an annual salary of roughly $174,000 certainly contributes toward their wealth, but many of these lawmakers were rich to being with. Beyer made his fortune running several car dealerships around Washington D.C. Warner made much of his wealth as a venture capitalist. For the purpose of our comparison to the median American citizen data below, the median congressional increase was 1.55 percent per year. The congressman's wife, Lynn Gorguze, is the president and CEO of a private equity firm, Cameron Holdings. Ocasio-Cortez reported assets of between $2,003 and $31,000 in her most recent financial disclosure, filed in September 2020, and student loan debt between $15,000 and $50,000. In the private sector, Alexander co-founded a law firm in Nashville as well as a chain of children's daycare centers. For the second year in a row, Representative Darrell Issa tops the lot with a net worth of $357.25 million, largely the result of. The speaker has been criticized by some in her own party for not moving fast enough on a ban that would prevent members of Congress from trading in stocks while in office. Sen. Elizabeth Warren, in her second term as senator from Massachusetts, is seeking the Democratic Party's nomination for president. After receiving his medical degree and following his residency, Marshall returned to Kansas and established his medical practice in the town of Great Bend. Rep. Chellie Pingree is in her sixth term as congresswoman who represents Maine's 1st District, which is the southeastern section of the state.
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