Drew Hammill, Pelosi's deputy chief of staff, said in a statement in July this year that the speaker "does not own any stocks.". 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. peak net worth: $594.2 million In office: 1789-1797 George Washington was America's first president and also its wealthiest for more than a century. That data, currently available for the years 2004 to 2010, is listed in part below in the section Individual data. 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. Your California Privacy Rights / Privacy Policy. 1st: George Washington Est. Changes in Net Worth of U.S. Beyer made his fortune running several car dealerships around Washington D.C. 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. Many of the wealthiest legislators first had successful and lucrative careers in the private sector. Buchanan earned much of his fortune through car dealerships and through his involvement in charter jet and yacht leasing. However, there were substantial increases in wealth of the members who fell into this category. Federal Election Commission, accessed March 9. 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 center's data for 2016 shows the members' financial data in three categories: minimum net worth, average and maximum net worth. More than half of Isakson's estimated wealth is held in a blind trust he established in 2012. Rep. Judy Chu (D-Calif.) was worth less than six figures in 2008. The trusts contain a combination of mutual funds, stocks, and electronic funds. When the members who lost money during this time period are removed from the calculation,[35] the growth in wealth among the "wealth gainers" stands out. The public employee retirement fund amount should have been in the thousands and not millions. Ballotpedia features 408,463 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. Mark Warner, who has served on Capitol Hill since taking office in 2009, is the wealthiest senator on this list. Only House members and senators currently serving in the 116th congress were considered. Rep. Chellie Pingree's dramatic net worth increase is due to her marriage. External Relations: Moira Delaney Hannah Nelson Caroline Presnell If a member gains, expect the gain to be large. 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. Between 2004-2012, the average American household[41] saw an inflation-adjusted slight increase of assets from $204,957 in 2004[42] to $264,963 in 2012. Although the 2012 freshmen only saw moderate growth after one year in office, the growth for the 112th freshmen was staggering. 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. Wyoming. The congressman reported $4 million in liabilities in the forms of lines of credit, mortgages, notes payable, and a loan. Comenity Direct Savings and CDs: Safe Places To Make the Most of . 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. The congressman served for 18 years in Congress before briefly leaving and becoming President Donald Trump's nominee to head the US Trade and Development Agency. In 1997 Gianforte founded RightNow Technologies, a cloud-based customer service program, which was bought for over $1 billion by Oracle Corp in 2012. Notable stocks that Manning or her spouse held included Alphabet, Apple, Starbucks, Disney, Microsoft, Nike, Johnson & Johnson, and Pfizer. know the precise net worth of members of Congress, SCOTUS Now Just Another Congressional Committee, Secret Chinese Police Stations in Europe Are 'Tip of the Iceberg', Trump's Attorney Just Blew Carroll Rape Case, King Charles Says Royals Require 'Acting Ability', Ukraine Will Regain 'Significant Territory' From Russia, Florida GOP Paves the Way to Help Ron DeSantis Challenge Trump. Congressional financial disclosure forms use value ranges, rather than precise amounts, when reporting assets and liabilities. Compare the gains in net worth experienced by congressional incumbents with what happened to the net worth of the people they represent. However, our bipartisan reform coalition was then subjected to repeated delay tactics, hand-waving gestures, and blatant instances of Lucy pulling the football," Spanberger said in a statement. He is worth an estimated $31.2 million. He is the longest-serving Indian American currently in Congress. 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. Worth an estimated $70 million, Democratic Sen. Richard Blumenthal of Connecticut is wealthier than all but a handful of other lawmakers on Capitol Hill. "It's yet another example of why I believe that the Democratic Party needs new leaders in the halls of Capitol Hill," she said. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch Vicky Hartzler is serving a fifth term as congresswoman representing the 4th District in western Missouri. Researchers used data provided by OpenSecrets.org to calculate the change in net worth of each congressional incumbent from either 2004 or the year he or she was first elected, if that year was after 2004.[6]. This included members of Congress. No, Nancy Pelosi's net worth is not $196 million If Your Time is short The $196 million figure is likely too high. Pelosi previously opposed such a ban, but later came out publicly in support of it. The salary of a typical member of Congress is $174,000. 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. We estimated the net worth of members of Congress by analyzing financial-disclosure reports. Matsui's listed holdings were spread out among exchange-traded funds, money-market funds, limited liability companies, and trusts. 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. subscribe to our print edition, ad-free app or electronic newspaper replica here. Designed for transparency, the disclosures provide insight into each member of Congress' wealth and assets and occasionally reveal potential conflicts of interest and violations of federal law. The Personal Gain Index is a two-part study that examines the extent to which members of the U.S. Congress have individually prospered during their tenure as public servants. Senators and Representatives, Ken Carbullido, Vice President of Election Product and Technology Strategy, https://ballotpedia.org/wiki/index.php?title=Changes_in_Net_Worth_of_U.S._Senators_and_Representatives_(Personal_Gain_Index)&oldid=8739186, 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. Fox News host Tucker Carlson speaks at a National Review Institute event on March 29, 2019, in Washington, D.C. (Note that elected officials and senior staff may only earn outside income up to $26,100 a year. Rep. Lisa Blunt Rochester of Delaware. Tech: Matt Latourelle Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Lotto Joseph Sanchez. Both the average and median for congressional and American citizen net worth growth are provided below. Members of Congress are way wealthier than average Americans. 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. Percentage increase is not meaningful for this candidate as the initial average net worth is less than or equal to zero. Senators and Representatives (Personal Gain Index), All data relating to the average net worth of individual members of congress from. Maloney is the widow of Clifton Maloney, who founded and ran the successful investment firm C.H.W. He has also written books on constitutional law and product liability. If you would like to help our coverage grow, consider donating to Ballotpedia. Today, Kelly and his wife's financial filings include profits from the dealership and over 200 stocks, bonds, and mutual funds. 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. Abraham graduated from the Louisiana State University School of Veterinary Medicine and practiced for 10 years before he got his medical doctor degree. The top range for item valuation is listed as "Over $50 million" on forms. Hollingsworth launched his campaign in his adopted home state of Indiana with over $3 million of his own money. Additionally, anyone who manages political campaign funds for a U.S. Coming from a long line of Tennessee politicians, Jim Cooper served Tennessee's 4th District from 1983 through 1995 and District 5 since 2003. 51. She is a newcomer to Congress, joining the ranks in 2021. The tables and graphs on this page show some of the highlights of the study. Top editors give you the stories you want delivered right to your inbox each weekday. The data goes from 2004 through 2012. Mitchell spent $3.6 million of his own fortune to win the seat. 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. For someone like Sen. Ted Cruz, however, his total net worth increase would be the same as his average yearly net worth increase, since the only available data is the increase between 2011 and 2012. Research: Josh Altic Vojsava Ramaj Travel and travel-related reimbursements from a single source, valued at more than $305 in aggregate for the year and connected to official business and the source, dates, and purpose of the travel and itinerary. 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. Cohen started his legal practice in 1978 after serving as a legal adviser for the Memphis Police Department. Scott, who assumed office in 2019, cemented his No. In keeping with the method of calculating congressional net worth, home equity was withheld from the figure. 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. The congressman owns an extensive array of real property, mutual funds, and several individual retirement accounts. Rob Portman's family founded and expanded a material-handling distributor. 5. The reports cover 2020 and provide the most up-to-date estimate of members' net worth. 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. Before his election to Congress, Hill was a commercial banker and investment manager. DeLauro is married to political strategist and best selling author Stanley Greenberg. 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. At the start of his 2020 presidential campaign Biden released his financial information disclosures as well as state and federal tax returns for 2016, 2017, and 2018 and based on those forms,.
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