congress net worth before and after office 2020
This figure represents the total percentage growth from either 2004 (if the member entered office in 2004 or earlier) or his or her first year in office (as noted in the chart below). The period studied is 2004-2012, or from the year the incumbent took office, if it was after 2004. No, Nancy Pelosi's net worth is not $196 million If Your Time is short The $196 million figure is likely too high. 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. Grandson of Robert F. Kennedy, Joseph Kennedy is the only member of the political dynasty to be currently serving on Capitol Hill. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Jimmy McAllister Samuel Postell Because 2012 household net worth figures had not been released as of publication date, this figure represents the 2011 numbers adjusted for inflation. See the sources for this fact-check. In lieu of an honoraria, they may designate an amount to be donated to charity. Wyoming. 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. 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. Insider's calculations are conservative estimates based on the minimum values disclosed by members. Sixteen . Please email us if you would like to suggest a revision. Rep. David B. McKinley of West Virginia. He was founder, chairman, and chief executive officer of Little Rock-based Delta Trust & Banking Corp. Richard C. Shelby of Alabama is in his sixth term as senator from Alabama and is the fifth-ranked Republican in seniority. will hold that position until the end of the present Congress. When this is the case, it is expressed with a negative percent. Although this data is harder to compare member-to-member because the starting year may be different, it still provides insight as to who experienced the most drastic total increases. The earliest average was then adjusted for inflation. 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. 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. Members of the United States Congress and candidates for Congress are required to file an annual Personal Financial Disclosure (PFD) on or before May 15 of every year. Rep. Alexandria Ocasio-Cortez, D-N.Y., has supported raising the minimum wage, forgiving student loan debt and increasing taxes for the wealthy. If we use the average net worth category for the House and . Your California Privacy Rights / Privacy Policy. The 2004 figure was adjusted for inflation to 2012 dollars. [5] This page is about changes in net worth of U.S. Her family also owns farm equipment company Heartland Tractor. Every year members of congress are required by law to disclose certain financial information regarding personal assets and liabilities. 51. A few members of Congress' minimum sum of liabilities far surpassed the minimum sum of their disclosed assets. Democrat Rosa DeLauro has represented Connecticut's 3rd District which covers the central part of the state along the coast since 1991. The wealthiest members of Congress have one thing in common. 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. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch Prior to his election as representative for the 11th District outside of Chicago, Rep. Bill Foster was a physicist who made his wealth by starting, with his brother Fred, Electronic Theatre Controls, which provides lighting for entertainment locations. Republican James Inhofe began his congressional career in the House of Representatives in 1987, serving Oklahoma's 1st District. The data goes from 2004 through 2012. Prior to being elected to office, she made much of her wealth in the private sector. Pelosi's husband had holdings in corporations such as Slack, Tesla, Disney, Visa, Salesforce, PayPal, Alphabet, Facebook, and Netflix companies that together spend tens of millions of dollars each year lobbying the federal government. The former for-profit college executive's average net worth skyrocketed from $101 million to nearly $180 million. Alexandria Ocasio-Cortez Emerges as a Political Star, 'Change Is Closer Than We Think.' Only House members and senators currently serving in the 116th congress were considered. Prior to his election to Congress, Marchant founded a construction and home building business. Sen. John Hoeven built his wealth by working in banking in North Dakota. Jacobs listed one liability in her financial disclosure: a mortgage on a Washington, DC, property worth at least $500,000. 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. 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. He rejoined Congress in 2021. As stated above, this is the total change in the amount of assets the. ", The citizen net worth data was calculated from figures from the United States Census Bureau. Prior to his first term, the Johnson campaign announced that he had liquidated all of his stocks, bonds, and mutual funds to avoid any conflict of interests. 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. Mitchell spent $3.6 million of his own fortune to win the seat. Rep. Brad Schneider served Illinois' 10th District from 2013 through 2015 and began serving once again in 2017. Hartzler and her family live on a working farm in Cass County. The high net worth of American lawmakers is partially attributable to their annual salaries of $174,000, which is more than triple the average wage across all American workers of $51,960 and higher than the median earnings of even the highest paying jobs in America. Vicky Hartzler is serving a fifth term as congresswoman representing the 4th District in western Missouri. Other notable holdings of Upton's include Apple, Raytheon, Amazon, Alphabet, Facebook, and Texas Instruments. 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 The disclosures required on the PFD include: An "American Citizen" figure was calculated in order to allow us to compare the change in household net worth of a member of Congress to the changes in net worth over the same period experienced by the average citizen. The average change in net worth for the members in this study was 72.6 percent. Peters' wealth is mostly in government securities, though he and his spouse have also invested in several mutual funds. He serves as chairman of the Senate Committee on Appropriations. 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. A text image . Access your favorite topics in a personalized feed while you're on the go. If you would like to help our coverage grow, consider donating to Ballotpedia. Net worth figures are rounded estimates derived from financial disclosure forms filed in 2018 and are not necessarily comprehensive or exact. Like several other lawmakers on this list, Blumenthal married into his vast fortune. More than 14 months after leaving office - and while still contesting the 2020 election - former President Donald Trump has seen his net worth soar to $3 billion, according to brand . 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. An average value is calculated by adding all the observations and dividing by the number of observations. He snagged his first job in D.C. in 1968, working as the chief legislative assistant to Kentucky Sen. Marlow Cook. 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. (Note that elected officials and senior staff may only earn outside income up to $26,100 a year. All other content, including data analysis of net worth change, is posted under Ballotpedia's standard content license. The salary of a typical member of Congress is $174,000. Carter started a pharmacy chain Carter's Pharmacy, Inc. in the Savannah area he now represents. The trusts contain a combination of mutual funds, stocks, and electronic funds. This page is about changes in net worth of U.S. In addition to serving his constituency, Cooper teaches part time at Vanderbilt. 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). Newsweek has asked Pelosi's office for comment. McKinley founded the architectural and engineering company McKinley & Associates. Trone's wealth is divvied up among mutual funds, exchange-traded funds, and ownership of several shops across the country specializing in wine, beer, and spirits: Total Wine & More. His financial filings indicated that each of Issa's assets is jointly owned. Scott did not list any liabilities or debts in his filings. The data goes from 2004 through 2012. Speier is of counsel at the law firm of Hanson Bridgett LLP in San Francisco. Tucker Carlson ousted at Fox News following network's $787 million settlement. He also worked as a venture capitalist, investing in several technology and healthcare companies. 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. Donald Beyer serves Virginia's 8th District, located west and south of Washington D.C. along the Potomac River. She also raised about $5 million in February for Texans hit by a winter storm that left millions in the state without power, CNN reported. Prior to his election to Congress, Shelby was an attorney. Republican Greg Gianforte has represented the state of Montana on Capitol Hill since taking office in 2017. Data on the year each House member or senator started serving as a member of Congress, district served, and party affiliation came from Congress.gov. Hern's wealth is split between trusts and IRAs belonging to him and his immediate family. Warner made much of his wealth as a venture capitalist. Elected officials and senior staff are prohibited from receiving honoraria for speeches, articles or appearances. The change in net worth information has also been added to each of Ballotpedia's profiles of the 535 congressional incumbents. Today, Sensenbrenner's stock portfolio includes holdings in more than three dozen companies, including Pfizer, Apple, AT&T, and Verizon. Pelosi became speaker for the first time in 2007 and served until 2011. In the private sector, Bennet was managing director at Anschutz Investment Co. Bennet is currently campaigning to be the Democratic nominee for President. lived paycheck to paycheck, according to Time. 53. Hern joined the House of Representatives in 2018. Her estimated net worth has increased significantly since 2008 thanks in large part to the success of her husband, Paul Pelosi, who is a venture capitalist and property investor. Insider's analysis does not include four members of Congress whose disclosures were uniquely complicated and lengthy, comprising hundreds of pages of handwritten or scanned documents: Reps. Ro Khanna of California, Vicente Gonzalez of Texas, Kurt Schrader of Oregon, and Harold Rogers of Kentucky. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. For the 49 members who went from a negative net worth to a positive net worth, the average increase was $3.4 million per member.[29]. Feinstein herself reported over $1 million in a deposit account, while a considerable portion of her wealth at least $25 million was held in a blind trust. Sen. Sheldon Whitehouse of Rhode Island. Worth an estimated $58.5 million, California Sen. Diane Feinstein is by far the wealthiest woman on Capitol Hill. The average yearly percentage increase for those members who increased their net worth was 43.6 percent. Williams' wealth is primarily split among mutual funds, a few select stocks, real property, and the ownership of several car dealerships in Texas worth more than $5 million. Curtis was the former mayor of Provo, Utah, and a small business owner. The wealthiest 15 members were worth at least $1.3 billion, half of Congress' wealth. [1][2] At the same time, 50 percent of Americans cannot afford to spend $5,000 in an emergency. As illustrated in the "Top 100" chart above, the average yearly percentage gain was found by dividing each member's total net worth growth percentage by the number of years included in the calculation. 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. Notable stocks that Manning or her spouse held included Alphabet, Apple, Starbucks, Disney, Microsoft, Nike, Johnson & Johnson, and Pfizer. Gore & Associates. Student volunteers wanted! He was the first former president to monetize his time in the office, according to The Washington Post. Bennet would be elected one year later. Sheldon Whitehouse is a third-term senator from Rhode Island who was re-elected by about 30 points in 2012. Now, in recent social media posts, Facebook users are raising questions about the New. By then, she reported that the same three accounts held between $2,003 and $31,000 and that her student loan debt remained the same at between $15,001 and $50,000. First elected to the Wisconsin State Senate in 1978, Rep. Jim Sensenbrenner is currently the second longest serving member of the House of Representatives. iHeartMedia is a leading contributor to McCaul's reelection campaign. 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. Senator must file.[8]. Each member of Congress' wealth was calculated by subtracting the sum of their minimum reported liabilities from the sum of their minimum asset values. And much of Romney's fortune is in Goldman Sachs mutual funds. McCaul did not list any liabilities or debts in his financial disclosure. The average increase in net worth in the Top 100 was 114% per year. If a member gains, expect the gain to be large. Click here to contact our editorial staff, and click here to report an error. "It's yet another example of why I believe that the Democratic Party needs new leaders in the halls of Capitol Hill," she said. Neal Dunn represents the 2nd District in Florida, which covers most of that state's panhandle. 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. Rose, who joined Congress in 2019, reported an ownership stake in several residential buildings across the country. Others, meanwhile, have married into or inherited vast fortunes. A Pioneer of Paid Speeches 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. Thank you for supporting our journalism. Mitchell won't seek reelection this November. More than half of Isakson's estimated wealth is held in a blind trust he established in 2012. Percentage increase is not meaningful for this candidate as the initial average net worth is less than or equal to zero. The representative reported one liability: a mortgage worth at least $15,001 through JPMorgan Chase. That also makes it difficult to pin down exactly how much Pelosi's net worth has grown since she first became speaker in 2007, but she has been reported to be one of the wealthier members of Congress. The bulk of his fortune is from his wife, Linda, the daughter of the founder of the media giant iHeartRadio. The congressman owns an extensive array of real property, mutual funds, and several individual retirement accounts. How much are your senators and representatives worth? External Relations: Moira Delaney Hannah Nelson Caroline Presnell He owns and operates California real estate and venture capital investment and consulting firm Financial Leasing Services, whose holdings include a Napa Valley vineyard worth about $5 million. 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. [37], The ten current senators and representatives listed here experienced the greatest declines in net worth (by percentage) from 2004-2012.[37]. Filers are required to report detailed listings and values of holdings that underlie an account. 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. Sen. Michael Bennet first became senator in 2009 to fill the vacancy created by the resignation of Kenneth Salazar. 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. This is the first part of the Personal Gain Index. The 2012 figure will be updated when available. 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. 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. Buchanan earned much of his fortune through car dealerships and through his involvement in charter jet and yacht leasing.
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