congress net worth before and after office 2020

Pingree and her husband, Charlie, operated a small farm for several years. Rose also owned at least $500,000 worth of stock in Citizens Bank and more than $100,000 worth of Alphabet stock, and he reported 100% ownership of Rose Farm, worth between $5 million and $25 million. Worth an estimated $70 million, Democratic Sen. Richard Blumenthal of Connecticut is wealthier than all but a handful of other lawmakers on Capitol Hill. In August 2019, Isakson announced he would resign from his senate seat at the end of the year due to health problems. 51. Here are those "poorest" members. See which incumbents had the largest gains in net worth. 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. 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. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Jimmy McAllister Samuel Postell The Top 100 table includes a handful of politicians who left office during or after 2012. Sen. Elizabeth Warren, in her second term as senator from Massachusetts, is seeking the Democratic Party's nomination for president. 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. If a member gains, expect the gain to be large. This allows us to: For more detailed information on the actual net worth of members of Congress, rather than the growth of their net worth, please see: Net worth of United States Senators and Representatives. The majority of Risch's $15.6 million net worth is tied up in real estate. You cansubscribe to our print edition, ad-free app or electronic newspaper replica here. The average increase in net worth in the Top 100 was 114% per year. Drew Hammill, Pelosi's deputy chief of staff, said in a statement in July this year that the speaker "does not own any stocks.". There are many elected officials with large fortunes independent of the salaries they earn while serving in Congress. OpenSecrets combines all assets and liability to form a total potential range of values, and then provides an average value as the best guess of each individual's net worth. The company, now called iHeartMedia, is a $6.3 billion company. Here are the richest members. 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. Percentage increase is not meaningful for this candidate as the initial average net worth is less than or equal to zero. Before he was elected to Congress in 2016, Dunn was a medical doctor who worked in Panama City and founded the Advanced Urology Institute, a 45-physician practice with more than 400 employees. The latest batch of numbers shows that the 113th Congress had a median net worth of $1,008,767. Senator must file.[8]. She reported at least $165,000 in liabilities in the form of credit-card debt through various banks. Note: Report numbers may reflect incoming and outgoing members of congress. 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. This was set by the "Ethics in Government Act of 1978." After heated budget debates, threats of government shutdowns and multiple votes to raise the debt ceiling, Congress has been dealing with fiscal issues on a regular basis. Republican James Inhofe began his congressional career in the House of Representatives in 1987, serving Oklahoma's 1st District. D.C.-based nonprofit OpenSecrets.org estimated Pelosi's net worth at $115 million in 2020, a rise of $41 million since 2004 - the first year OpenSecrets began tracking members' personal finances. During the 2020 election cycle, Ocasio-Cortezs reelection campaign spent $17.3 million after raking in $21.2 million. The tables and graphs on this page show some of the highlights of the study. Income from the taco restaurant where she tended bar and from her 2018 congressional campaign totaled $25,463. The bulk of Obernolte's fortune stems from his ownership of FarSight Studios, a video-game company in Big Bear Lake, California, that he launched in 1988. Williams also reported a stake in two aircraft-leasing companies. 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. Angus King is the only independent representative on this list, though he caucuses mostly with Democrats. Lloyd Doggett has served in Congress since 1995 and currently represents Texas's 35th District. 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. Senators and Representatives during their time in office. He joined Congress in 2021. Fox News host Tucker Carlson speaks at a National Review Institute event on March 29, 2019, in Washington, D.C. Pingree sold the business in 1993 and now co-owns a bed & breakfast and restaurant in North Haven. 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. 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. When possible OpenSecrets tried to determine a more accurate figure. A Pioneer of Paid Speeches The data starts in 2004 for any member who started either in 2004 or prior, or at a later year for anyone who was elected after 2004. The earliest average was then adjusted for inflation. Entrepreneurship. Insider's calculations are conservative estimates based on the minimum values disclosed by members. Pelosi previously opposed such a ban, but later came out publicly in support of it. Members of Congress are way wealthier than average Americans. Negative to positive increases Rep. David B. McKinley of West Virginia. 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. 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. Those in Congress who held assets above the median net worth of $1 million in 2012 also saw a hefty annual percentage increase. 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.. Prior to his election, Fortenberry worked as a publishing industry executive in Lincoln. 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. Sign up to get that here. Filers must disclose positions they hold with non-governmental organizations, except for their membership in religious, social, fraternal or political organizations. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. OpenSecrets combines all assets and liability to form a total potential range of values, and then provides an average value as the best guess of each individual's net worth.[5]. Any such honoraria must be reported on the PFD by source and amount. That data, currently available for the years 2004 to 2010, is listed in part below in the section Individual data. 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. However, all mortgages are required to be disclosed. They obtained the data from personal financial disclosure data that each senator and representative is required to provide for public record. 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. Kennedy has served Massachusetts' 4th District since 2013. The STOCK Act requires that the terms of all mortgages, including those on non-income producing personal residences, be disclosed. 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. Sen. Lamar Alexander of Tennessee, serving his third term as senator, is the 15th-highest ranking Republican senator in the Senate. 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. The data also includes some former members, whose net worth would have been calculated at the end of their term in the 112th Congress. However, there were substantial increases in wealth of the members who fell into this category. Eight-term Rep. Jeff Fortenberry represents Nebraska's 1st District, which is in the eastern part of the state. First elected to the U.S. Senate in 1984, Mitch McConnell is one of the longest serving members of Congress. Filers are required to report detailed listings and values of holdings that underlie an account. Blumenthal's only liability listed in his financial filings was a 30-year mortgage on his home that his wife took out in 2011. 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). Earning an annual salary of roughly $174,000 certainly contributes toward their wealth, but many of these lawmakers were rich to being with. Buchanan's wealth primarily comes from his ownership of several car dealerships, in addition to a limited liability company that was labeled as "Aircraft Holding & Leasing" and valued at $25 million to $50 million. 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. Its content is produced independently of USA TODAY. Student volunteers wanted! 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. Disclaimer: All data relating to the average net worth of individual members of congress from OpenSecrets.org/ The Republican, now in his fifth term, is a certified professional engineer who worked in the construction industry before he entered Congress. Comenity Direct Savings and CDs: Safe Places To Make the Most of . In the 116th Congress, public disclosures had Florida's Rick Scott in first place with a net worth of around $300 million. He built much of his wealth from Pacur, a specialty plastics company he co-founded with his brother-in-law in 1979. Viral posts make false claims about Friday the 13th, the next full moon. He has been a senator since 1994. Carter started a pharmacy chain Carter's Pharmacy, Inc. in the Savannah area he now represents. Biggest wealth increase in Congress, 2008-2018 Export to CSV Not all politicians come into office wealthy - but many leave that way. The 2004 figure was adjusted for inflation to 2012 dollars. The congressman reported $4 million in liabilities in the forms of lines of credit, mortgages, notes payable, and a loan. 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. The reports cover 2020 and provide the most up-to-date estimate of members' net worth. Khanna's wife, Ritu Khanna, also has millions of dollars thanks largely to her father's work as an executive at investment firm Mura Holdings. Rep. Vicente Gonzalez is serving his second term in Congress, representing the 15th District in the southern part of Texas. Neal Dunn represents the 2nd District in Florida, which covers most of that state's panhandle. Jackie Speier is in her sixth full term in Congress and now represents California's 14th District, which includes San Mateo County. Shortly after graduating from college, he founded his own commercial building construction company, R.W. The 2012 figure will be updated when available. Democrat Suzan Delbene has represented Washington's 1st District since 2012. Vicky Hartzler is serving a fifth term as congresswoman representing the 4th District in western Missouri. 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 citizen net worth data was calculated from figures from the United States Census Bureau. Members of Congress earn a salary of $174,000. 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. In that case, a few very high numbers could, for instance, change the average, but they would not change the median. South Carolina Rep. Ralph Norman worked as an executive at Warren Norman Co., a development company started by his father that builds office parks, commercial buildings, and residential housing. The top range for Senate spousal assets is listed as Over $1 million." 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). 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. 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. In 1982, after serving for five years as a U.S. Attorney for Connecticut, Blumenthal married Cynthia Malkin, daughter of Manhattan real estate mogul Peter Malkin. He went on to sell it for $10 million to McAfee . He is the longest-serving Indian American currently in Congress. Rep. Judy Chu (D-Calif.) was worth less than six figures in 2008. Newsweek has asked Pelosi's office for comment. 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. Grandson of Robert F. Kennedy, Joseph Kennedy is the only member of the political dynasty to be currently serving on Capitol Hill. The first-term senator from North Carolina was an executive at PricewaterhouseCoopers and IBM. This was an inflation-adjusted annual percentage change of 3.7 percent from 2004 to 2012. One of Norman's IRA's is worth at least $5 million. Senators and Representatives (Personal Gain Index), Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License, Information on financial disclosure forms from the Office of the Clerk of the House of Representatives, Older congressional financial disclosure forms available on, Net Worth of United States Senators and Representatives, 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. Speier is of counsel at the law firm of Hanson Bridgett LLP in San Francisco. [9] 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. See the sources for this fact-check. 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 Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. The second-term senator and former governor returned to practicing law in 2003 after he finished his term as governor. For example, for. For the full set of data, please visit our Google spreadsheet here. 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. Research: Josh Altic Vojsava Ramaj Worth an estimated $58.5 million, California Sen. Diane Feinstein is by far the wealthiest woman on Capitol Hill.
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