and subtracted major liabilities (loans, credit card debt, etc.).[2]. Rep. John Curtis is serving his first full term as a congressman from Utah. He rejoined Congress in 2021. Tucker Carlson ousted at Fox News following network's $787 million settlement. U.S. House of Representatives, accessed March 9. Rep. Joseph P. Kennedy III of Massachusetts. He is worth an estimated $31.2 million. 53. Warner made much of his wealth as a venture capitalist. 60. Sen. John Hoeven built his wealth by working in banking in North Dakota. Filers for the 2020 fiscal year were allotted an extra three months to submit their disclosures because of the pandemic. In addition to serving his constituency, Cooper teaches part time at Vanderbilt. The reports cover 2020 and provide the most up-to-date estimate of members' net worth. Curtis was the former mayor of Provo, Utah, and a small business owner. D.C.-based nonprofit OpenSecrets.org estimated Pelosi's net worth at $115. DelBene and her husband reported at least $1.1 million worth of shares in her former company. 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. For the first time in history, the majority of America's elected officials in Washington, D.C. are millionaires. Some longtime members of Congress watched their wealth rise to record levels in 2018. Only lawmakers with an estimated net worth of more than $3 million are included on this list. Prior to his election to Congress, Heck expanded several small businesses, including one that focuses on workplace education. 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. Congress saw a total increase of $316.5 million in assets held by all members in the study. Data is not available for a limited number of congressional members. 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. Filers must disclose positions they hold with non-governmental organizations, except for their membership in religious, social, fraternal or political organizations. 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. One . McKinley founded the architectural and engineering company McKinley & Associates. The STOCK Act requires that the terms of all mortgages, including those on non-income producing personal residences, be disclosed. These estimates assume no change in net worth between 2011 and 2012. He also invested in the digital entertainment company Real Networks, which streams media on the Internet. He built much of his wealth from Pacur, a specialty plastics company he co-founded with his brother-in-law in 1979. Top editors give you the stories you want delivered right to your inbox each weekday. Republican Rick Allen has represented Georgia's 12th District since taking office in 2015. 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. All other content, including data analysis of net worth change, is posted under Ballotpedia's standard content license. 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. Today, much of Warner's fortune estimated at over $90 million is held in blind trusts. Blumenthal's only liability listed in his financial filings was a 30-year mortgage on his home that his wife took out in 2011. 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. [1][2] At the same time, 50 percent of Americans cannot afford to spend $5,000 in an emergency. 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. Hartzler and her family live on a working farm in Cass County. The Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. 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. Between 2004-2012, the median American household[41] saw an inflation-adjusted decrease of assets from $18,990 in 2004[42] to $17,557 in 2012. Do you have a question about Nancy Pelosi? This data affords constituents the ability to see the real increase (or decrease) of each member's net worth. Member of Congress: Liz Cheney Chamber: House Party: Republican Estimated net worth: $14,710,513 More From GOBankingRates. Each year, every member of Congress is required to file a detailed report disclosing their financial holdings. Issa listed one liability: a margin account holding him liable for over $50 million. [5] This page is about changes in net worth of U.S. This is the first time in history that the majority of members are millionaires.[1]. Before serving in Congress, Mullin dropped out of college to manage the family's plumbing company, building it into a regional business. The trusts contain a combination of mutual funds, stocks, and electronic funds. 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. 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. 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. The tables and graphs on this page show some of the highlights of the study. See which incumbents had the largest gains in net worth. The second-term senator and former governor returned to practicing law in 2003 after he finished his term as governor. Earning an annual salary of roughly $174,000 certainly contributes toward their wealth, but many of these lawmakers were rich to being with. OpenSecrets gathers this information to build a range of potential values. The study is able to have figures for freshman members of the 113th Congress from 2011, despite their terms beginning in 2012, because they were required to file Personal Finance Disclosure forms during their candidacies in 2011. 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. Peters' wife, Lynn Gorguze, also has a small fortune from serving as president and CEO of private equity firm Cameron Holdings since 1993. Here are the richest members. Blum is an investor and the president and chairman of Blum Capital, a private equity company. Feinstein was one of 48 members of Congress who Insider and other media organizations found in 2021 to have violated the STOCK Act. He snagged his first job in D.C. in 1968, working as the chief legislative assistant to Kentucky Sen. Marlow Cook. Help us provide information on American politics. 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. A few members of Congress' minimum sum of liabilities far surpassed the minimum sum of their disclosed assets. 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. No ban has yet been put in place. He has also written books on constitutional law and product liability. Angus King is the only independent representative on this list, though he caucuses mostly with Democrats. Rep. Kenny Marchant of Texas is serving his eighth term in the House of Representatives. Our fact check work is supported in part by a grant from Facebook. "After first signaling her opposition to these reforms, the Speaker purportedly reversed her position. Pelosi became speaker for the first time in 2007 and served until 2011. DelBene's wealth is spread out among mutual funds, exchange-traded funds, and real-estate funds. 76. 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. All of Beyer's assets were jointly owned, in a combination of stocks, government securities, and real property. Rep. Young passed away on October 18, 2013. Williams' wealth comes from multiple auto car dealerships in northern Texas and some valuable real estate. Pelosi's husband, Paul Pelosi, is a successful venture capitalist. She has amassed her wealth through the business activities of her husband, Paul Pelosi. Meijer reported at least $1.95 million in liabilities in the forms of a mortgage, lines of credit, and promissory notes. [21], This chart shows the average yearly percentage change in net worth of the 100 congressional incumbents whose calculated net worth[22] divided by the number of years studied was the highest.[23]. How does that happen?? As a starting point, congressional financial disclosure forms use value ranges, rather than precise amounts, when reporting assets and liabilities. iHeartMedia is a leading contributor to McCaul's reelection campaign. Cohen started his legal practice in 1978 after serving as a legal adviser for the Memphis Police Department. Disclaimer: All data relating to the average net worth of individual members of congress from OpenSecrets.org/ 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. Click here to contact us for media inquiries, and please donate here to support our continued expansion. 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. The company, now called iHeartMedia, is a $6.3 billion company. Senator must file.[8]. Paul also has invested in Apple, Disney, Comcast, and Facebook. Viral posts make false claims about Friday the 13th, the next full moon. The Center for Responsive Politics, the organization that runs OpenSecrets.org, calculated each net worth by adding all disclosed assets (corporate bonds, stocks, etc.) 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. Conditions for re-employment, severance payments, buyout agreements, profit-sharing plans. 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.". We rate the claim that Rep. Alexandria Ocasio-Cortez has racked up more than $1 million in net worth as a member of Congress FALSE, based on our research. 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. She is also a co-author of the book "This Is Not the Life I Ordered: 50 Ways to Keep Your Head Above Water When Life Keeps Dragging You Down.". CNN . Members of Congress are paid $174,000 a year. Take Our Poll: What Do You Plan To Use Your Tax Refund For? For the full set of data, please visit our Google spreadsheet here. 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. More than half of Isakson's estimated wealth is held in a blind trust he established in 2012. Lisa Blunt Rochester has represented the state of Delaware since going to Capitol Hill in 2017. Income from the taco restaurant where she tended bar and from her 2018 congressional campaign totaled $25,463. Note that in order to have an apples-to-apples comparison between the household net worth of U.S. Entrepreneurship. The congressman owns an extensive array of real property, mutual funds, and several individual retirement accounts. Your California Privacy Rights / Privacy Policy. Upton also reported having at least $1 million in Pepsi stock. This was an inflation-adjusted annual percentage change of 3.7 percent from 2004 to 2012. 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. Her student loan debt through the U.S. Department of Education at the time was listed as between $15,001 and $50,000. The . 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. Manning also reported an ownership interest in Stonefield Cellars Winery in North Carolina. She reported at least $165,000 in liabilities in the form of credit-card debt through various banks. Rep. Vicente Gonzalez is serving his second term in Congress, representing the 15th District in the southern part of Texas. 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). which statement about container splices is true, pumphouse brewery nutrition, who killed eleanor wish in bosch,