Ballotpedia staff took OpenSecrets predicted net worth averages for all reported members of congress and using statistical software calculated yearly averages and changes for various congressional subsets. Sen. Richard Blumenthal of Connecticut. Rep. John Yarmuth is in his seventh term in Congress and represents the 3rd District of Kentucky that includes Louisville. Outside, earned income that exceeds $200 must be reported. Drew Hammill, Pelosi's deputy chief of staff, said in a statement in July this year that the speaker "does not own any stocks.". However, there were substantial increases in wealth of the members who fell into this category. . 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. This page is about changes in net worth of U.S. Rep. Nancy Pelosi, the Speaker of the House, represents California's 12th District, which includes San Francisco. Each year, every member of Congress is required to file a detailed report disclosing their financial holdings. In the private sector, she practiced law at the Indianapolis firm of Ice Miller. 72. 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Access your favorite topics in a personalized feed while you're on the go. Source: Alex Wong / Getty Images News via Getty Images Alabama: Sen. Richard C Shelby (R) > Est. 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.". as well as other partner offers and accept our, Alex Wong/Getty Images; Kevin Dietsch/Getty Images; Bill Clark/CQ Roll Call; Hannah McKay-Pool/Getty Images; Rebecca Zisser/Insider, Chance Yeh/Getty Images for Power 100 Lunch, Bill Clark/CQ-Roll Call, Inc via Getty Images), Bill Clark/CQ-Roll Call, Inc via Getty Images, Tom Williams/CQ-Roll Call, Inc via Getty Images, Michael Brochstein/SOPA Images/LightRocket via Getty Images, Kent Nishimura / Los Angeles Times via Getty Images, Anna Moneymaker/The New York Times via AP, Pool, placed his assets in a qualified blind trust, acknowledged filing an incorrect personal financial disclosure. Changes in Net Worth of U.S. Hern's wealth is split between trusts and IRAs belonging to him and his immediate family. Members of Congress are way wealthier than average Americans. The McCaul family notably reported millions in limited liability companies and iShares funds, and at least $250,000 worth of Netflix stock. Hollingsworth's wealth primarily comes from his involvement with Hollingsworth Capital Partners, a Tennessee group that builds and markets industrial facilities in 17 states, according to his financial disclosure. The STOCK Act requires that the terms of all mortgages, including those on non-income producing personal residences, be disclosed. In 1997 Gianforte founded RightNow Technologies, a cloud-based customer service program, which was bought for over $1 billion by Oracle Corp in 2012. Blumenthal's only liability listed in his financial filings was a 30-year mortgage on his home that his wife took out in 2011. Rep. Chellie Pingree is in her sixth term as congresswoman who represents Maine's 1st District, which is the southeastern section of the state. He went on to sell it for $10 million to McAfee . Rep. Alexandria Ocasio-Cortez has been paid $174,000 per year as a member of Congress since joining the House of Representatives in January 2019. Other major assets include several Vanguard index funds he holds jointly with his wife, Transportation Secretary Elaine Chao. 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. Much of Upton's wealth is old family money, as his paternal grandfather patented an early iteration of the modern electric washing machine and founded a company that is now home appliance giant Whirlpool. Click here to contact us for media inquiries, and please donate here to support our continued expansion. Republican Earl Carter has represented Georgia's 1st District since taking office in 2015. Though Scheider founded a consulting firm, much of his wealth comes from his wife, Julie Schneider, whose family started what was the largest privately owned insurance brokerage in Chicago. Currently, the top industrial contributors to Williams's campaign are oil and gas and automotive. 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. First elected to the Wisconsin State Senate in 1978, Rep. Jim Sensenbrenner is currently the second longest serving member of the House of Representatives. Trone's wife independently owned stock in Alphabet, Apple, and Pepsi, among others. Rep. Judy Chu (D-Calif.) was worth less than six figures in 2008. Census figures were unavailable for the raw, excluding home equity figure -- this figure is an estimate calculated by applying the 2005 ratio of net worth excluding home equity to the net worth figure available for 2004 (which included home equity). In keeping with the method of calculating congressional net worth, home equity was withheld from the figure. By clicking Sign up, you agree to receive marketing emails from Insider Prior to his election, Fortenberry worked as a publishing industry executive in Lincoln. Warren received an advance of about $300,000 for her book "This Fight Is Our Fight," published in April 2017. Today, though all congressional representatives earn salaries, not much else has changed. Kennedy has served Massachusetts' 4th District since 2013. He also has investments in mineral rights and oil wells in North Dakota. Top editors give you the stories you want delivered right to your inbox each weekday. Pingree sold the business in 1993 and now co-owns a bed & breakfast and restaurant in North Haven. Beyer made his fortune running several car dealerships around Washington D.C. 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. Manhattan Construction Group's lucrative contracts have included both Bush presidential libraries as well as the new Dallas Cowboys stadium. Do you have a question about Nancy Pelosi? Hollingsworth's wealth is largely from his father's Knoxville-based company, Hollingsworth Capital Partners, which refurbishes old, often abandoned factories and industrial buildings. DelBene's office denied that the congresswoman violated the law, citing an email from the Committee on House Ethics. 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. 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. D.C.-based nonprofit OpenSecrets.org estimated Pelosi's net worth at $115. 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. Newsweek has asked Pelosi's office for comment. Net worth of United States Senators and Representatives, Former congressional members in the Executive Branch, Reports from the financial year before members entered congress are included when available, Apply for the Ballotpedia Fellows Program, Democratic Congressional Campaign Committee, National Republican Congressional Committee, Filing requirements for congressional candidates, Staff salaries of United States Senators and Representatives, Changes in Net Worth of U.S. Foster sold his stake in the business before he ran for Congress. Today, Kelly and his wife's financial filings include profits from the dealership and over 200 stocks, bonds, and mutual funds. A limitation to the data set is that the whole picture of wealth growth while in Congress is unavailable for those members who entered office prior to 2004. The average change in net worth for the members in this study was 72.6 percent. 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. The 2012 figure will be updated when available. 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. The second-term senator and former governor returned to practicing law in 2003 after he finished his term as governor. subscribe to our print edition, ad-free app or electronic newspaper replica here. Based on the $19,000 in student loan debt Ocasio-Cortez said she had in September 2019, she could be in the hole to the tune of nearly $17,000. He is currently serving his second term as senator from Colorado. This is the first . Because 2012 household net worth figures had not been released as of publication date, this figure represents the 2011 numbers adjusted for inflation. The majority of Feinstein's wealth is from her husband, Richard Blum, according to her financial filings. 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. Below, as part of Roll Call's Wealth of Congress analysis, we plotted the 115th Congress' minimum net worth on a vertical. 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. 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 Ballotpedia features 408,463 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. He serves as chairman of the Senate Committee on Appropriations. Before becoming vice president of mobile connections marketing for Microsoft which is headquartered in her district Delbene launched two successful internet startups. 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. Only House members and senators currently serving in the 116th congress were considered. Bera worked as a medical doctor before choosing to run for elective office. 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. Some incumbents experienced a net loss in net worth. The center's data for 2016 shows the members' financial data in three categories: minimum net worth, average and maximum net worth. The average yearly percentage increase for those members who increased their net worth was 43.6 percent. Manning's fortune is split among government securities, mutual funds, exchange-traded funds, real property, and stocks. Click here to contact our editorial staff, and click here to report an error. Before being elected to Congress, Dodgett was as a state senator after taking office at just 26 years old. Worth an estimated $70 million, Democratic Sen. Richard Blumenthal of Connecticut is wealthier than all but a handful of other lawmakers on Capitol Hill. 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. 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. Viral posts make false claims about Friday the 13th, the next full moon. Rep. Lucille Roybal-Allard, a Democrat from California: -$1,008,000, Rep. Steven Horsford, a Democrat from Nevada: -$1,047,992, Sen. Cynthia Lummis, a Republican from Wyoming: -$1,401,991, Sen. Tammy Duckworth, a Democrat from Illinois: -$1,877,936, Rep. August Pfluger, a Republican from Texas: -$2,000,002. In the private sector, Kennedy was an attorney and partner in the Baton Rouge and New Orleans law firm of Chaffe McCall. 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. A newcomer to Congress in 2021, nearly all of Jacobs' wealth is stored in a trust that was created in 2009. 5 Kelly Loeffler, who served between 2020-2021 as a Republican. This data affords constituents the ability to see the real increase (or decrease) of each member's net worth. The New York Post estimated that the Pelosis had made between $5.6 million and $30.4 million between 2007 and 2020 through capital gains and dividends from investments in five tech companies - Facebook, Google, Amazon, Apple and Microsoft - based on public disclosures. However, what the study is missing is how much he was worth in 1982 compared to 2012. 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. The trusts contain a combination of mutual funds, stocks, and electronic funds. The bulk of Romney's wealth derives from his success at Bain Capital, a private-equity investment firm where he rose to CEO. 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. 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). Insider's calculations are conservative estimates based on the minimum values disclosed by members. Our fact check work is supported in part by a grant from Facebook. David B. McKinley represents the 1st District of West Virginia, which is in the northern part of the state. Before the success he found in Florida, Buchanan founded American Speedy Printing in Michigan in the mid-1970s, growing the business to 730 locations across 44 states before declaring bankruptcy. 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. Filers for the 2020 fiscal year were allotted an extra three months to submit their disclosures because of the pandemic. Tech: Matt Latourelle Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Lotto Joseph Sanchez. Grandson of Robert F. Kennedy, Joseph Kennedy is the only member of the political dynasty to be currently serving on Capitol Hill. Brooks also worked as a criminal defense attorney for Indianapolis-based law firm of McClure, McClure and Kammen. 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. Though he is a Tennessee native, Trey Hollingsworth has served in Indiana's 9th District since taking office in 2017. Phillips has an ownership stake in several businesses, various stock holdings, mutual funds, government securities, various life insurance policies, and hedge funds. 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. This is the first time in history that the majority of members are millionaires.[1]. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch Comenity Direct Savings and CDs: Safe Places To Make the Most of . The Center for Responsive Politics is posted under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License.
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