Business 2 CommunityWho Are The Richest Members Of The U.S. Congress?
Being a member of the United States Congress is hard work. It’s a long and expensive road as you campaign in order to get the actual seat, and by the time you do get there, many realize that gettng things done—especially in the last couple of years—isn’t as easy as it looks.
It is, however, a lot easier to get around on Capitol Hill if money isn’t much of an issue. Sure, people would like to think that if you want to affect political change and serve your country in America, it shouldn’t matter how much you have in the bank. That’s all part of the American Dream, after all. But between campaigning and trying to scrape by on more than the government-issued $174,000 salary (which politicians have said still isn’t enough to make ends meet in Congress), you need all the financial cushioning you can get.
Using the most recent data from the Center for Responsive Politics (2013), InsideGov found and ranked the 21 richest members of Congress based on their net worth in 2013. The data is also based off personal financial disclosures submitted that year by the members of Congress themselves. We also included the congressperson’s percent change in net worth from 2012 to 2013, if the data was available.
Rodney P. Frelinghuysen (R-NJ)
Rep. Rodney P. Frelinghuysen (NJ) – Profile | InsideGov
Average Net Worth: $48,848,590
Percent Change: 7%
Much of Representative Frelinghuysen’s wealth is reported to have stemmed from his family trust and personal investments in Procter & Gamble stock.
Click the Net Worth tab in the widget for more detailed financial information over time.
Thomas MacArthur (R-NJ)
Rep. Thomas MacArthur (NJ) – Profile | InsideGov
Average Net Worth: $49,311,596
Percent Change: None (elected in 2015)
Before serving New Jersey on Capitol Hill, Representative MacArthur was President and CEO of York Insurance Service Group, Inc., which is the main source of his $49.3 million net worth. He used most of his own money for his election campaign last year, making it the largest self-funded campaign in the nation for 2014.
James B. Renacci (R-OH)
Rep. James B. Renacci (OH) – Profile | InsideGov
Average Net Worth: $52,011,811
Percent Change: 31%
A “self-made millionaire,” Representative Renacci formed the LTC Companies group, a financial consulting service in Ohio. He also made money sitting on the Arena Football League Executive Committee and owning a few sports teams, including the Columbus Destroyers (football) and the Lancaster JetHawks (minor league baseball).
James E. Risch (R-ID)
Sen. James E. Risch (ID) – Profile | InsideGov
Average Net Worth: $53,630,527
Percent Change: 0%
The Senator made most of his money from farm and ranch land investments ($16 million) in Idaho, of which he has 384 acres. According to Roll Call , “Risch reported rental income of $5,000 to $15,000 on each of the most valuable properties and $2,500 to $5,000 on the remaining property.”
Bob Corker (R-TN)
Sen. Bob Corker (TN) – Profile | InsideGov
Average Net Worth: $54,419,017
Percent Change: 10%
Tennessee Sen. Bob Corker is largely in real estate, including a shopping center and two office buildings. He also added a new investment, valued at $5 million to $25 million in a Dow Jones industrial average index fund.
Chris Collins (R-NY)
Rep. Chris Collins (NY) – Profile | InsideGov
Average Net Worth: $59,414,015
Percent Change: 0%
Before he took a seat in the House two years ago, Representative Collins was President and CEO of Nuttall Gear Corporation and sold it in 1997.
Alan Grayson (D-FL)
Rep. Alan Grayson (FL) – Profile | InsideGov
Average Net Worth: $64,375,031
Percent Change: 59%
Representative Grayson’s largest asset is a claim against the now-defunct Derivium Capital for at least $25 million. He also has a trust valued between $5 million and $25 million.
Dianne Feinstein (D-CA)
Sen. Dianne Feinstein (CA) – Profile | InsideGov
Average Net Worth: $77,235,068
Percent Change: 12%
Senator Feinstein is the oldest serving United States Senator at 81 years old, and has served the state of California for 22 years. Many of her assets are in blind trusts and add up to her high net worth.
Gary Miller (R-CA)
Rep. Gary Miller (CA) – Profile | InsideGov
Average Net Worth: $80,335,533
Percent Change: 72%
Despite dropping the value of one of his major assets, Long Term Bend Investors LLC, in 2010, the Representative is still one of the wealthiest current members of Congress. He has valuable land in Oregon and California.
Suzan K. DelBene (D-WA)
Rep. Suzan K. DelBene (WA) – Profile | InsideGov
Average Net Worth: $81,249,532
Percent Change: 49%
Representative DelBene was a former corporate vice president of Microsoft’s mobile communications business and her husband was the president of Microsoft’s Office division. Together, they have assets potentially worth as much as $84 million, according to House financial-disclosure reports.
Scott H. Peters
Rep. Scott H. Peters (CA) – Profile | InsideGov
Average Net Worth: $88,344,051
Percent Change: -21%
Representative Scott H. Peters has been the representative for the 52nd congressional district of California for one year and is the 11th wealthiest current member of Congress. His wife, Lynn E. Gorguze, has contributed substantially to her husband’s net worth, as she is the president and CEO of Cameron Holdings.
Vern Buchanan (R-FL)
Rep. Vern Buchanan (FL) – Profile | InsideGov
Average Net Worth: $98,210,549
Percent Change: 18%
Vern Buchanan has been a member of the House for eight years, during which he has represented Florida’s 16th congressional district. Prior to his election, he was on the executive committee of the United States Chamber of Commerce. Most of his net worth of about $98.2 million can be traced to his many automotive dealerships in Florida, as well as investments in more than 50 other businesses.
Richard Blumenthal (D-CT)
Sen. Richard Blumenthal (CT) – Profile | InsideGov
Average Net Worth: $99,581,170
Percent Change: -9%
Senator Blumenthal has served the state of Connecticut for four years after serving as the state’s Attorney General. His wealth, which is impressive despite a dip since last year, stems in part from his wife, Cynthia Blumenthal, who is the daughter of New York real estate broker Peter Malkin.
Nancy Pelosi
Rep. Nancy Pelosi (CA) – Profile | InsideGov
Average Net Worth: $100,864,528
Percent Change: 14%
Representative Nancy Pelosi has been serving California since 1987 and is the first Italian-American woman to lead a major party in Congress. She was elected Speaker of the House for the 110th and 111th Congresses. Some of Pelosi’s wealth can be attributed to recent increases in her husband’s stock in Comcast and Facebook, but the largest contributor is from the couple’s investment in Russell Ranch LLC, which is described as an underdeveloped real estate investment in Sacramento, Calif. According to The Hill, “the investment’s value rose by at least $4 million” in 2013.
John ‘Jay’ Rockefeller
Sen. John ‘Jay’ Rockefeller (WV) – Profile | InsideGov
Average Net Worth: $110,710,014
Percent Change: 9%
Senator Jay Rockefeller has been serving in Congress for 29 years after acting as governor of West Virginia for eight years. You may have heard of his great-grandfather, John D. Rockefeller, after whom New York City’s Rockefeller Plaza is named. It’s no surprise that Rockefeller is worth more than $110 million.
Michael T. McCaul (R-TX)
Rep. Michael T. McCaul (TX) – Profile | InsideGov
Average Net Worth: $162,882,467
Percent Change: 13%
Representative McCaul has been serving the state of Texas for nine years. In his early career, he was an attorney and federal prosecutor of the US Attorney’s office and the Department of Justice’s Public Integrity Section. His wife, Linda Mays McCaul, is the daughter of Clear Channel Communications Chairman Lowry Mays and sister of its CEO.
David A. Trott (R-MI)
Rep. David A. Trott (MI) – Profile | InsideGov
Average Net Worth: $200,509,228
Percent Change: None (elected in 2015)
The Michigan representative joined his parents’ law firm, Trott & Trott, in 1985, and it is now Michigan’s largest foreclosure law firm and one of the biggest in the country. He made most of his money at the peak of the housing crisis foreclosing on homes on behalf of banks and other lenders — as many as 80,000 in Michigan in a single year, according to the Detroit Free Press.
Jared Polis (D-CO)
Rep. Jared Polis (CO) – Profile | InsideGov
Average Net Worth: $213,224,214
Percent Change: 7%
For six years, Representative Jared Polis has been serving the 2nd congressional district of Colorado. In his lifetime, Polis has founded a charitable foundation (The Jared Polis Foundation) and online florist ProFlowers, which is how he made most of his fortune. His business endeavors have led him to be the 4th-richest member of Congress.
John K. Delaney (D-MD)
Rep. John K. Delaney (MD) – Profile | InsideGov
Average Net Worth: $222,410,577
Percent Change: 43%
Representative Delaney has been representing the 6th congressional district of Maryland for two years, and is the only former CEO of a publicly traded company. His net worth jumped a whopping 43% from 2012 to 2013.
Mark R. Warner (D-VA)
Sen. Mark R. Warner (VA) – Profile | InsideGov
Average Net Worth: $254,168,650
Percent Change: -1%
Senator Warner, who has served the state for Virginia for five years, was the founder and managing director of Columbia Capital, as well as an investor in many technology companies (including Nextel). He was expected to pursue a 2008 Democratic nomination for the presidency and was a potential vice presidential candidate, but instead continued to serve as a senator. His net worth accumulated from his past investments amounts to about $254 million.
Darrell E. Issa (R-CA)
Rep. Darrell E. Issa (CA) – Profile | InsideGov
Average Net Worth: $448,425,019
Percent Change: -3%
Representative Issa leads and has led the pack as the richest man in Congress by a landslide for the past couple of years. The congressman has been serving California in the House for 14 years, after holding the CEO position at Directed Electronics (one of the largest makers of automobile aftermarket security and convenience products).
This article was syndicated from Business 2 Community: Who Are The Richest Members Of The U.S. Congress? [Rankings]
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