congress net worth before and after office 2020

Or her she could be worth up to $12,000. This is the first part of the Personal Gain Index. iHeartMedia is a leading contributor to McCaul's reelection campaign. Rep. Chellie Pingree is in her sixth term as congresswoman who represents Maine's 1st District, which is the southeastern section of the state. 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. Members of Congress are paid $174,000 a year. The average yearly percentage increase for those members who increased their net worth was 43.6 percent. The reports cover 2020 and provide the most up-to-date estimate of members' net worth. Rep. Vicente Gonzalez is serving his second term in Congress, representing the 15th District in the southern part of Texas. 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. Repiblican Roger Williams represents the 25th District in Texas a strip of land that extends from Fort Worth down to Austin. Rob Portman's family founded and expanded a material-handling distributor. Sen. Lamar Alexander of Tennessee, serving his third term as senator, is the 15th-highest ranking Republican senator in the Senate. Three newer members of Congress Reps. Much of his money is held in bonds and mutual funds, though he has real estate holdings worth about $1.4 million. We rate the claim that Rep. Alexandria Ocasio-Cortez has racked up more than $1 million in net worth as a member of Congress FALSE, based on our research. Other major assets include several Vanguard index funds he holds jointly with his wife, Transportation Secretary Elaine Chao. Sen. Thom Tillis spent his 22-year private-sector career in technology and management consulting before he entered Congress in 2015. This percentage reflects the median annual percentage growth of all members of Congress. 618 members are included in the congressional data, compared to the millions sampled in the census data. Member of Congress: Liz Cheney Chamber: House Party: Republican Estimated net worth: $14,710,513 More From GOBankingRates. This report compared average and median data, and in both cases the growth of congressional net worth significantly outpaced that of the American citizen. Brooks also worked as a criminal defense attorney for Indianapolis-based law firm of McClure, McClure and Kammen. McCaul is thought to be the second-richest person in Congress, though none of the assets or holdings reported in his 65-page financial disclosure were his alone, belonging to his wife or dependent children. Any liability or loan where the filer, his or her spouse or his or her dependent children owed more than $10,000 at any time during the calendar year. Senator must file.[8]. He also invested in the digital entertainment company Real Networks, which streams media on the Internet. 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. Sen. Michael Bennet first became senator in 2009 to fill the vacancy created by the resignation of Kenneth Salazar. 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. 5 Kelly Loeffler, who served between 2020-2021 as a Republican. He has been a senator since 1994. Prior to his election to Congress, Marchant founded a construction and home building business. The congresswoman filed her next financial disclosure in September 2020. Sen. Ron Johnson was first elected to the U.S. Senate in 2010. Phillips, who joined Congress in 2019, reported at least $2 million in liabilities in the form of mortgages. 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. Her family also owns farm equipment company Heartland Tractor. 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. In lieu of an honoraria, they may designate an amount to be donated to charity. 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. However, there were substantial increases in wealth of the members who fell into this category. 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. Rep. Susan W. Brooks is serving her fourth term in Congress. 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. 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. Rosen worked for companies such as Citibank and Southwest Gas Company before she was elected to Congress. 15. Insider compiled members' annual disclosures filed this year, analyzing thousands of pages of documents to estimate the minimum and maximum net worth of members of the US Senate and the US House of Representatives, including nonvoting delegates. 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 embarrassment is just going to keep growing over this," Laura Harth, the campaign director at Safeguard Defenders, told Newsweek. Romney reported at least $4.5 million in liabilities from his wife; each liability was listed as a "capital commitment.". In that case, a few very high numbers could, for instance, change the average, but they would not change the median. Mitchell won't seek reelection this November. The Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. Feinstein was one of 48 members of Congress who Insider and other media organizations found in 2021 to have violated the STOCK Act. The second-term senator and former governor returned to practicing law in 2003 after he finished his term as governor. That data, currently available for the years 2004 to 2010, is listed in part below in the section Individual data. Perdue was also chief executive officer of Dollar General and set up its sale to investors. McKinley founded the architectural and engineering company McKinley & Associates. Pingree sold the business in 1993 and now co-owns a bed & breakfast and restaurant in North Haven. 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. 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. Republican Greg Gianforte has represented the state of Montana on Capitol Hill since taking office in 2017. The former for-profit college executive's average net worth skyrocketed from $101 million to nearly $180 million. Bennet would be elected one year later. Because of this, Ballotpedia removed Pingree when calculating the averages for this study, while continuing to list her in the chart. Congressional millionaires had an average yearly percentage increase of 23.9 percent. 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. He rejoined Congress in 2021. Sen. John Kennedy is in his first term as senator from Louisiana. The top range for Senate spousal assets is listed as Over $1 million." Currently, used car information website Carfax is Beyer's top campaign contributor. Still, the wealthiest congressional representatives did not earn their fortunes as public servants. That left her with about $4.3 million in her campaign coffers, according to the FEC. Data on the net worth of members of Congress came from the 2018 Wealth of Congress report from CQ Roll Call, an intelligence and advocacy group based in Washington, D.C. Net worth figures are based on recent financial filings and are representative of the time that each House member or senator was beginning his or her term in the 115th Congress. Democrat Rosa DeLauro has represented Connecticut's 3rd District which covers the central part of the state along the coast since 1991. The wealthiest 15 members together had an estimated net worth of at least $1.3 billion, accounting for half of Congress' total estimated wealth. DelBene's office denied that the congresswoman violated the law, citing an email from the Committee on House Ethics. The wealthiest 15 members were worth at least $1.3 billion, half of Congress' wealth. Tech: Matt Latourelle Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Lotto Joseph Sanchez. The public employee retirement fund amount should have been in the thousands and not millions. 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). These five members' negative estimated wealth stemmed from high-priced mortgages: Editor's note: Rep. Frank Mrvan, a Democrat from Indiana, originally appeared among the 25 wealthiest members of Congress. 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. Worth an estimated $58.5 million, California Sen. Diane Feinstein is by far the wealthiest woman on Capitol Hill. First elected to the Wisconsin State Senate in 1978, Rep. Jim Sensenbrenner is currently the second longest serving member of the House of Representatives. The Census Bureau, the source of the average citizen data, breaks down net worth into wealth categories. Much of Issa's fortune comes from a car-alarm system called Steal Stopper and his time as the CEO of Directed Electronics. For information on which members saw the highest change during their tenure, please see Ballotpedia's page on the Changes in Net Worth of U.S. 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. 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. Ballotpedia features 408,463 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. Prior to his election to Congress, Shelby was an attorney. 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. majority of members of Congress are millionaires. Tech: Matt Latourelle Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Lotto Joseph Sanchez. 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. If you would like to help our coverage grow, consider donating to Ballotpedia. Members disclose the value of their assets in broad ranges. The Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. Carter started a pharmacy chain Carter's Pharmacy, Inc. in the Savannah area he now represents. The reports cover 2020 and provide the most up-to-date estimate of members' net worth. Those from personal acquaintances, contributions to legal defense funds and commemorative items. Research: Josh Altic Vojsava Ramaj Sen. Johnny Isakson was elected to the U.S. House of Representatives in 1998, and to the U.S. Senate in 2004. DeLauro is married to political strategist and best selling author Stanley Greenberg. Pelosi's net worth in 2021 was estimated to be as much as $171.4 million in an October report by The Washington Free Beacon, a conservative news outlet that arrived at that figure "by taking into account the ranges of all the individual assets and liabilities" in Pelosi's financial disclosure statement. In keeping with the method of calculating congressional net worth, home equity was withheld from the figure. 1st: George Washington Est. 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. Hollingsworth launched his campaign in his adopted home state of Indiana with over $3 million of his own money. 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. This is the first . This Ballotpedia article is in need of updates. The year each House member or senators current term ends came from nonprofit political encyclopedia Ballotpedia. Ocasio-Cortez spokeswoman Lauren Hitt said the financial disclosure reports are accurate but provided no additional comment. 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.". Its content is produced independently of USA TODAY. 60. 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. Warner made much of his wealth as a venture capitalist. Gov. Manhattan Construction Group's lucrative contracts have included both Bush presidential libraries as well as the new Dallas Cowboys stadium. Trone's wealth is divvied up among mutual funds, exchange-traded funds, and ownership of several shops across the country specializing in wine, beer, and spirits: Total Wine & More. Before being elected to Congress, Dodgett was as a state senator after taking office at just 26 years old. 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. Note: Report numbers may reflect incoming and outgoing members of congress. This was set by the "Ethics in Government Act of 1978." 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. The latest data calculated by OpenSecrets.org reports on disclosed information from 2012. He is the founder of the law firm of V. Gonzalez & Associates. 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. The ten current senators and representatives listed below experienced the highest overall net worth gains (by percentage) from 2004-2012. 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. Although the 2012 freshmen only saw moderate growth after one year in office, the growth for the 112th freshmen was staggering. One . and subtracted major liabilities (loans, credit card debt, etc.).[2]. She is an emeritus professor at Harvard University. 51. Percentage increase is not meaningful for this candidate as the initial average net worth is less than or equal to zero. The Republican, now in his fifth term, is a certified professional engineer who worked in the construction industry before he entered Congress. Click here to contact us for media inquiries, and please donate here to support our continued expansion. A medical doctor and military veteran, Rep. Ralph Abraham is serving in his third term as a congressman from Louisiana. Lowey is married to a prominent Wall Street attorney, who co-founded his own firm that specializes in securities and merger litigation. This included members of Congress. The STOCK Act requires that the terms of all mortgages, including those on non-income producing personal residences, be disclosed. This is the first part of the Personal Gain Index. She has represented the most populous state in the Senate since taking office in 1992. He serves as chairman of the Senate Committee on Appropriations. In 1981, she started North Island Yarn, a business employing local knitters, and opened a retail store that sold knitting kits and pattern books nationwide. Eight-term Rep. Jeff Fortenberry represents Nebraska's 1st District, which is in the eastern part of the state. Please email us if you would like to suggest a revision. Beyer reported at least $8.6 million in liabilities, almost all of which were mortgages on various properties he owned. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch Each member of Congress' wealth was calculated by subtracting the sum of their minimum reported liabilities from the sum of their minimum asset values. 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. Federal Election Commission, accessed March 9. Allen's net worth of $11.7 million is largely self-made. Today, Kelly and his wife's financial filings include profits from the dealership and over 200 stocks, bonds, and mutual funds. The congresswoman reported two liabilities owned by her spouse: lines of credit amounting to more than $1.5 million. Both the average and median for congressional and American citizen net worth growth are provided below. Sen. John Hoeven built his wealth by working in banking in North Dakota. Some exceptions apply; for example, in the case of previously approved income and some book royalties and advances. Alexandria Ocasio-Cortez Emerges as a Political Star, 'Change Is Closer Than We Think.' How much are your senators and representatives worth?

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