Maloney is the widow of Clifton Maloney, who founded and ran the successful investment firm C.H.W. Rep. Carolyn Maloney was first elected to the U.S. House of Representatives in 1992, serving New York's 14th Congressional District from 1993 to 2013 and New York's 12th Congressional District from 2013 to the present. Today, Sensenbrenner's stock portfolio includes holdings in more than three dozen companies, including Pfizer, Apple, AT&T, and Verizon. The Speaker has no prior knowledge or subsequent involvement in any transactions," Hamill said. Sen. Lamar Alexander of Tennessee, serving his third term as senator, is the 15th-highest ranking Republican senator in the Senate. Her investments in the stock market have also earned her substantial capital gains. 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. 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. Or from the year the incumbent was first elected, if that year was after 2004. Angus King is the only independent representative on this list, though he caucuses mostly with Democrats. 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. 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. The salary of a typical member of Congress is $174,000. The Top 100 table includes a handful of politicians who left office during or after 2012. Sen. Thom Tillis spent his 22-year private-sector career in technology and management consulting before he entered Congress in 2015. The Ohio legislator was elected to the Senate eight years ago after serving in the house from 1993 to 2015. Gianforte amassed his fortune after founding a software company in the mid 1980s, which he eventually sold to McAfee Associates. He has been a senator since 1994. Senators and Representatives during their time in office. 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. Using his fortune from his family business, Manhattan Construction Group, Rooney donated enough to the GOP to earn an ambassadorship during the George W. Bush administration. Prior to his election to Congress, Marchant founded a construction and home building business. . No ban has yet been put in place. He serves as chairman of the Senate Committee on Appropriations. The company, now called iHeartMedia, is a $6.3 billion company. A Pioneer of Paid Speeches First elected to the Wisconsin State Senate in 1978, Rep. Jim Sensenbrenner is currently the second longest serving member of the House of Representatives. 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. 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. Top editors give you the stories you want delivered right to your inbox each weekday. 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. One . 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]. 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. A few members of Congress' minimum sum of liabilities far surpassed the minimum sum of their disclosed assets. He was the first former president to monetize his time in the office, according to The Washington Post. The average change in net worth for the members in this study was 72.6 percent. 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. Net worth of United States Senators and Representatives Here are those "poorest" members. 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. 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. He also owns several rental properties around the University of Georgia campus. Her student loan debt through the U.S. Department of Education at the time was listed as between $15,001 and $50,000. Brooks also worked as a criminal defense attorney for Indianapolis-based law firm of McClure, McClure and Kammen. The Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. In lieu of an honoraria, they may designate an amount to be donated to charity. CNN . Rep. Kenny Marchant of Texas is serving his eighth term in the House of Representatives. Sign up to get that here. Much of his money is held in bonds and mutual funds, though he has real estate holdings worth about $1.4 million. 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. Click here to contact us for media inquiries, and please donate here to support our continued expansion. Its content is produced independently of 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 His family owns companies in construction and property development. Rep. Joseph P. Kennedy III of Massachusetts. He has also written books on constitutional law and product liability. He ran Sara Lee Corp.'s Asia unit and was an executive with Haggar Clothing and footwear company Reebok. This number was found by dividing each member's total net worth growth percentage by the number of years included in the calculation. If a member gains, expect the gain to be large. 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. Roll Call published its Wealth of Congress report, which ranks the net worth of the 115th Congress.. The congressman's wife, Lynn Gorguze, is the president and CEO of a private equity firm, Cameron Holdings. Do you have a tip on a politics story that Newsweek should be covering? Filers must disclose the purchase, sale or exchange of any assets that amount to more than $1,000 in the calendar year in question. For example, for. A text image . 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. Rep. Chellie Pingree is in her sixth term as congresswoman who represents Maine's 1st District, which is the southeastern section of the state. Rep. Alexandria Ocasio-Cortez, D-N.Y., has supported raising the minimum wage, forgiving student loan debt and increasing taxes for the wealthy. 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. 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. Peters' wife, Lynn Gorguze, also has a small fortune from serving as president and CEO of private equity firm Cameron Holdings since 1993. He is a cofounder of Penny's Coffee, a Minnesota-based coffee shop chain, a former chairman for Talenti Gelato, and the former CEO of Phillips Distilling Company. Those from personal acquaintances, contributions to legal defense funds and commemorative items. Note that in order to have an apples-to-apples comparison between the household net worth of U.S. Allen's net worth of $11.7 million is largely self-made. ? the user asked. 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. There are many elected officials with large fortunes independent of the salaries they earn while serving in Congress. 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. Sen. 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. The data outlined on this page comes from OpenSecrets.org. Fact check: How many millionaires are in Congress, compared to - WRAL 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 is the longest-serving Indian American currently in Congress. A newcomer to Congress in 2021, nearly all of Jacobs' wealth is stored in a trust that was created in 2009. Before his election to Congress, Hill was a commercial banker and investment manager. He also was the founding chairman of Summit Bank, based in Panama City. Jacobs listed one liability in her financial disclosure: a mortgage on a Washington, DC, property worth at least $500,000. [37], The ten current senators and representatives listed here experienced the greatest declines in net worth (by percentage) from 2004-2012.[37]. 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. Much of Issa's fortune comes from a car-alarm system called Steal Stopper and his time as the CEO of Directed Electronics. Pelosi previously opposed such a ban, but later came out publicly in support of it. Pelosi became speaker for the first time in 2007 and served until 2011. The 15 Richest Members of Congress | Newsmax.com In late 2021, DelBene appeared to violate the STOCK Act by improperly disclosing her husband's massive sale of Microsoft stock days before President Joe Biden nominated him for an administration post. 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.". In the private sector, she practiced law at the Indianapolis firm of Ice Miller. 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. The latest batch of numbers shows that the 113th Congress had a median net worth of $1,008,767. Republican James Inhofe began his congressional career in the House of Representatives in 1987, serving Oklahoma's 1st District. Negative to positive increases These estimates assume no change in net worth between 2011 and 2012. Hartzler and her family live on a working farm in Cass County. As compared to the yearly average gains, the total average gains percentage change looks at the total change between the first year data is available for each member[36] and the 2012 data. Republican Earl Carter has represented Georgia's 1st District since taking office in 2015. 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. Ocasio-Cortezsstory of bartender-turned-congresswoman after upending an incumbent Democrat in a safely blue New York district is well documented. ", The citizen net worth data was calculated from figures from the United States Census Bureau. 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. Ocasio-Cortez said she made a payment that had reduced her student loan debt to $19,000. Hoeven eventually became president of Westbrand Inc. Bank Holding Co. and retains at least $5 million in company stock. Manning's fortune is split among government securities, mutual funds, exchange-traded funds, real property, and stocks. Each year, every member of Congress is required to file a detailed report disclosing their financial holdings. Congressmen and that of the American citizen, the value of equity in the citizen's personal residence was not taken into account in calculating the net worth of the average citizen, since the value of the personal residence of a Congressman is not included in their disclosure of their household 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. will hold that position until the end of the present Congress. Congress saw a total increase of $316.5 million in assets held by all members in the study.[5]. 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. His largest investment is an interest in Lebanon House Inc., which owns the Golden Lamb Inn, the oldest continuously operating company in Ohio. 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. She reported at least $165,000 in liabilities in the form of credit-card debt through various banks. Worth an estimated $70 million, Democratic Sen. Richard Blumenthal of Connecticut is wealthier than all but a handful of other lawmakers on Capitol Hill. Pence left Congress in 2012 to become the governor of Indiana. For the purpose of our comparison to the median American citizen data below, the median congressional increase was 1.55 percent per year. 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. See which incumbents had the largest gains in net worth. Prior to his election to Congress, Shelby was an attorney. That $600 million decline led Trump to drop from the 275th richest person in America in 2019 to the 352nd richest in 2020 - a drop of . How does that happen?? [5] This page is about changes in net worth of U.S. This was set by the "Ethics in Government Act of 1978." Sixteen . Norman also reported four liabilities worth a total of at least $2 million, each in connection to his property investments. Romney reported at least $4.5 million in liabilities from his wife; each liability was listed as a "capital commitment.". Matsui's husband, Roger Sant, is the founder of the AES Corporation, a Fortune 500 holding company specializing in electricity generation and distribution. Pingree and her husband, Charlie, operated a small farm for several years. Sen. Ron Johnson was first elected to the U.S. Senate in 2010. The wealthiest 15 members were worth at least $1.3 billion, half of Congress' wealth. For a complete list of members and their net worth changes, please click "show" below. The public employee retirement fund amount should have been in the thousands and not millions. Analysis: Donald Trump is getting richer again | CNN Politics Disclaimer: All data relating to the average net worth of individual members of congress from OpenSecrets.org/ This report compared average and median data, and in both cases the growth of congressional net worth significantly outpaced that of the American citizen. 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. By clicking Sign up, you agree to receive marketing emails from Insider Some incumbents experienced a net loss in net worth. Research: Josh Altic Vojsava Ramaj Many of the wealthiest legislators first had successful and lucrative careers in the private sector. He is the founder of the law firm of V. Gonzalez & Associates. Newsweek has asked Pelosi's office for comment. Rose, who joined Congress in 2019, reported an ownership stake in several residential buildings across the country. How the 15 richest members of Congress made their money - Business Insider 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. He snagged his first job in D.C. in 1968, working as the chief legislative assistant to Kentucky Sen. Marlow Cook. Warner made much of his wealth as a venture capitalist. Congress members net worth: Here are the legislators with the highest How Marjorie Taylor Greene Achieved a Net Worth of $700,000 Feinstein listed three liabilities, each of which belonged to her husband, for a combined amount of at least $3 million. The change in net worth information has also been added to each of Ballotpedia's profiles of the 535 congressional incumbents. 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 Center for Responsive Politics is posted under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License. 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). Republican Greg Gianforte has represented the state of Montana on Capitol Hill since taking office in 2017. The bulk of Romney's wealth derives from his success at Bain Capital, a private-equity investment firm where he rose to CEO. 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. McKinley founded the architectural and engineering company McKinley & Associates. 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. Currently, the top industrial contributors to Williams's campaign are oil and gas and automotive. Personal Finances OpenSecrets 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. Some exceptions apply; for example, in the case of previously approved income and some book royalties and advances. The earliest average was then adjusted for inflation. We estimated the net worth of members of Congress by analyzing financial-disclosure reports. Before he was a senator, Risch used his income from his private attorney practice to buy large swaths of farming and ranching land in the southwestern part of the state. Hollingsworth's wealth is largely from his father's Knoxville-based company, Hollingsworth Capital Partners, which refurbishes old, often abandoned factories and industrial buildings. Senators and Representatives, Ken Carbullido, Vice President of Election Product and Technology Strategy, https://ballotpedia.org/wiki/index.php?title=Net_worth_of_United_States_Senators_and_Representatives&oldid=8826276, 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, The ten wealthiest (and poorest) members of both the, How members' net worth has changed from previous years, How much the congressional delegations of each state are worth, Breakdown of net worth between House and Senate, A complete list of the net worth averages for congressional members since 2004. The latest data calculated by OpenSecrets.org reports on disclosed information from 2012.
?>
congress net worth before and after office 2020