That data, currently available for the years 2004 to 2010, is listed in part below in the section Individual data. 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. For a complete list of members and their net worth changes, please click "show" below. The top range for Senate spousal assets is listed as Over $1 million." Only House members and senators currently serving in the 116th congress were considered. 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. 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. McCaul did not list any liabilities or debts in his financial disclosure. 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. 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. Income from the taco restaurant where she tended bar and from her 2018 congressional campaign totaled $25,463. Marjorie Taylor Greene has an estimated net worth of around $700,000. Feinstein herself has a $25 million plus stake in Carlton Hotel Properties. One of these categories is "equity in own home," but Ballotpedia did not factor the average citizen's home equity into this figure because the Congressional net worth does not require members to report property (including personal residences) that is not used for investment purposes. He also had businesses in energy and real estate and had an early stake in the wireless service company Nextel, which was eventually bought by Sprint. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Jimmy McAllister Samuel Postell A medical doctor and military veteran, Rep. Ralph Abraham is serving in his third term as a congressman from Louisiana. 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. They obtained the data from personal financial disclosure data that each senator and representative is required to provide for public record. We estimated the net worth of members of Congress by analyzing financial-disclosure reports. The average member saw his or her net worth increase by an average of 15.4 percent per year. 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. Members of Congress are required to disclose the value of their assets only in broad ranges, such as $15,000 to $50,000. After that report, the Center for Responsive Politics OpenSecrets.org ranked Ocasio-Cortez as one of the poorest members of Congress, where more than half of members have a net worth of at least $1 million. McConnell was elected Senate majority leader by Republicans in 2014. Today, though all congressional representatives earn salaries, not much else has changed. The data also includes some former members, whose net worth would have been calculated at the end of their term in the 112th Congress. Speier is of counsel at the law firm of Hanson Bridgett LLP in San Francisco. 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 company, now called iHeartMedia, is a $6.3 billion company. Hartzler and her family live on a working farm in Cass County. Lisa Blunt Rochester has represented the state of Delaware since going to Capitol Hill in 2017. The Speaker has no prior knowledge or subsequent involvement in any transactions," Hamill said. He went on to sell it for $10 million to McAfee . The 2020 financial disclosures are the most up-to-date financial documentation from Congress disclosures from 2021 are not required to be filed until mid-May. Feinstein listed three liabilities, each of which belonged to her husband, for a combined amount of at least $3 million. He also owns several rental properties around the University of Georgia campus. Dodgett has a stake of at least half a million on the Whole Foods grocery store chain, which is headquartered in Austin, a city that falls partially with the district he represents. Today, much of Warner's fortune estimated at over $90 million is held in blind trusts. No, Nancy Pelosi's net worth is not $196 million If Your Time is short The $196 million figure is likely too high. Some exceptions apply; for example, in the case of previously approved income and some book royalties and advances. The first-term senator from North Carolina was an executive at PricewaterhouseCoopers and IBM. Phillips has an ownership stake in several businesses, various stock holdings, mutual funds, government securities, various life insurance policies, and hedge funds. Abraham graduated from the Louisiana State University School of Veterinary Medicine and practiced for 10 years before he got his medical doctor degree. Because 2012 household net worth figures had not been released as of publication date, this figure represents the 2011 numbers adjusted for inflation. This percentage reflects the median annual percentage growth of all members of Congress. The Center for Responsive Politics is posted under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License. "Medians are often used when data are skewed, meaning that the distribution is uneven. Rep. Arkansas Republican French Hill is a three-term congressman who has served the state's 2nd District, in the central part of the state, since 2015. Rep. Chellie Pingree is in her sixth term as congresswoman who represents Maine's 1st District, which is the southeastern section of the state. 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. Fox News host Tucker Carlson speaks at a National Review Institute event on March 29, 2019, in Washington, D.C. Obernolte did not report any liabilities or debts. McCaul, who represents Texas's 5th District, amassed much of his wealth through his marriage to Linda McCaul, whose father founded Clear Channel Communications. Carter recently sold more than $1 million of his stake in his company, and he owns a more than $5 million stake in an index fund. Property (such as personal residences) and non-income producing investments are not required to be reported under ethics laws. "The embarrassment is just going to keep growing over this," Laura Harth, the campaign director at Safeguard Defenders, told Newsweek. Ro Khanna has served California's 17th District, which covers much of Silicon Valley, since 2017. Its content is produced independently of USA TODAY. Warren and her husband Bruce, also a law professor at Harvard, have homes in Cambridge, Massachusetts, and in Washington, D.C. Sen. Chris Coons is in his first full term as senator from Delaware after defeating Tea Party candidate Christine O'Donnell by almost 17 points in a special election. The data for American citizens is a large sampling of the population that includes many households on either end of the distribution (high or low wealth), so median numbers were also included. Currently, the top industrial contributors to Williams's campaign are oil and gas and automotive. 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. This includes her salary as an elected official and income from her business ventures. The latest batch of numbers shows that the 113th Congress had a median net worth of $1,008,767. Norman also reported four liabilities worth a total of at least $2 million, each in connection to his property investments. The period studied is 2004-2012, or from the year the incumbent took office, if it was after 2004. More than half of Isakson's estimated wealth is held in a blind trust he established in 2012. Every year members of congress are required by law to disclose certain financial information regarding personal assets and liabilities. Sixteen . See the sources for this fact-check. . In 1997 Gianforte founded RightNow Technologies, a cloud-based customer service program, which was bought for over $1 billion by Oracle Corp in 2012. 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. Hollingsworth launched his campaign in his adopted home state of Indiana with over $3 million of his own money. Negative to positive increases If a member gains, expect the gain to be large. 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. Her family also owns farm equipment company Heartland Tractor. 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. A text image . Before venturing into politics, the 3-term senator and former Virginia governor ran a venture-capital firm, Columbia Capital, and a telecom company, Capital Cellular Corporation. 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. Lowey is the current chair of the Committee on Appropriations. Pingree and her husband, Charlie, operated a small farm for several years. 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. Members of Congress are way wealthier than average Americans. Ocasio-Cortez said she made a payment that had reduced her student loan debt to $19,000. He has also written books on constitutional law and product liability. Worth an estimated $70 million, Democratic Sen. Richard Blumenthal of Connecticut is wealthier than all but a handful of other lawmakers on Capitol Hill. 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). 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. The Center for Responsive Politics, the organization that runs OpenSecrets.org, calculated each net worth by adding all disclosed assets (corporate bonds, stocks, etc.) 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]. Pelosi reported at least $20 million in liabilities that mostly involved mortgages on properties in California and Washington, DC. He has been a senator since 1994. 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. In lieu of an honoraria, they may designate an amount to be donated to charity. 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. 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. Matsui's listed holdings were spread out among exchange-traded funds, money-market funds, limited liability companies, and trusts. Republican Earl Carter has represented Georgia's 1st District since taking office in 2015. Wyden's wife, Nancy Wyden, owns the famous Strand Bookstore in New York City. A median is the middle value of a list. His financial filings indicated that each of Issa's assets is jointly owned. 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. 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 a net worth of more than $1 million.. Shortly after graduating from college, he founded his own commercial building construction company, R.W. Pelosi's husband, Paul Pelosi, is a successful venture capitalist. Neal Dunn represents the 2nd District in Florida, which covers most of that state's panhandle. 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. The Census Bureau, the source of the average citizen data, breaks down net worth into wealth categories. This was an inflation-adjusted annual percentage change of 3.7 percent from 2004 to 2012. In a Trumpian move, he rented out a cottage on his Wilmington property for $26,400 a year, reportedly leasing it to the U.S. Secret Service in charge of protecting him. 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. Angus King is the only independent representative on this list, though he caucuses mostly with Democrats. 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. 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. 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. He ran Sara Lee Corp.'s Asia unit and was an executive with Haggar Clothing and footwear company Reebok. He serves as chairman of the Senate Committee on Appropriations. Manning also reported an ownership interest in Stonefield Cellars Winery in North Carolina. The estimated net worth of a congressional representative exceeds $500,000, according to a report by 24/7 Wall St., which listed the richest members of Congress. As a starting point, congressional financial disclosure forms use value ranges, rather than precise amounts, when reporting assets and liabilities. Much of his $27 million fortune came from a career as an economist and intellectual property lawyer. 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. Through most of her 20s, Ocasio-Cortez lived paycheck to paycheck, according to Time. He also worked as a venture capitalist, investing in several technology and healthcare companies. 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. The majority of Feinstein's wealth is from her husband, Richard Blum, according to her financial filings. The Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. In 1981, she started North Island Yarn, a business employing local knitters, and opened a retail store that sold knitting kits and pattern books nationwide. Wyoming. 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. External Relations: Moira Delaney Hannah Nelson Caroline Presnell Ballotpedia features 408,463 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch 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. Below are average net worth numbers for first year freshman members for each recent session of Congress. The latest batch of numbers shows that the 113th Congress had a median net worth of $1,008,767. Although the 2012 freshmen only saw moderate growth after one year in office, the growth for the 112th freshmen was staggering. 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. He also edits and owns Kentucky Golfer. Inside Alexandria Ocasio-Cortez's Unlikely Rise, 2018 financial disclosure for Rep. Alexandria Ocasio-Cortez, AOC makes student loan payment during congressional hearing on student loans, 2019 financial disclosure for Rep. Alexandria Ocasio-Cortez, Rep. Alexandria Ocasio-Cortez 2020 election campaign finance report, Rep. Alexandria Ocasio-Cortez 2018 election campaign finance report, Rep. Ocasio-Cortez Launches Political Group To Boost Progressive Candidates, Courage to Change political action committee campaign finance report, AOC raises nearly $5 million in Texas relief efforts.
