congress net worth before and after office 2020

That $600 million decline led Trump to drop from the 275th richest person in America in 2019 to the 352nd richest in 2020 - a drop of . Top editors give you the stories you want delivered right to your inbox each weekday. Scott did not list any liabilities or debts in his filings. McCaul, who represents Texas's 5th District, amassed much of his wealth through his marriage to Linda McCaul, whose father founded Clear Channel Communications. Members of Congress earn a salary of $174,000. 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. More than half of Isakson's estimated wealth is held in a blind trust he established in 2012. He built much of his wealth from Pacur, a specialty plastics company he co-founded with his brother-in-law in 1979. Entrepreneurship. He serves as chairman of the Senate Committee on Appropriations. [7], This requirement also extends to candidates for federal office, senior congressional staff, nominees for executive branch positions, Cabinet members, the president and vice president and Supreme Court justices. As stated above, this is the total change in the amount of assets the. Tech: Matt Latourelle Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Lotto Joseph Sanchez. U.S. House of Representatives Republicans, U.S. House of Representatives Independents. Ocasio-Cortezsstory of bartender-turned-congresswoman after upending an incumbent Democrat in a safely blue New York district is well documented. They obtained the data from personal financial disclosure data that each senator and representative is required to provide for public record. Net worth figures are by no means comprehensive or exact, as members of Congress are not required to report their principal residences or their contents (the largest assets for most Americans), and they report their financial assets and liabilities in broad ranges of value. 76. Rep. Denny Heck is in his fourth term serving the 10th District of Washington state, which includes the state capital of Olympia. Rep. Vern Buchanan of Florida's 16th District is worth an estimated $73.9 million. 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. 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. The 2012 figure will be updated when available. Democrat Earl Blumenauer has represented Oregon's 3rd District for nearly two and a half decades. 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. Sen. Jacky Rosen, serving her first term as senator from Nevada after serving as a congresswoman, is a former computer programmer. That left her with about $4.3 million in her campaign coffers, according to the FEC. The data outlined on this page comes from OpenSecrets.org. 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. He is the great grandson of one of the key figures in the Kimberly-Clark Corporation, in which he once owned more than $2 million worth of stock. Buchanan may have the authority to write American tax policy in coming years, as the congressman is likely to become the leading GOP member of the Ways and Means Committee after Rep. Devin Nunes announced his resignation to become the CEO of a new social media company founded by former President Donald Trump. However, what the study is missing is how much he was worth in 1982 compared to 2012. The bulk of Romney's wealth derives from his success at Bain Capital, a private-equity investment firm where he rose to CEO. Norman and his wife also hold more than $100,000 in stock in Exxon Mobil. Hartzler and her family live on a working farm in Cass County. McConnell was elected Senate majority leader by Republicans in 2014. OpenSecrets.org gathers this information to build a range of potential values. Her income is estimated to be around $174,000 annually. Before representing Washington's 4th District on Capitol Hill in 2015, Republican Dan Newhouse served as the director of Washington state's Department of Agriculture. 15. Today, much of Warner's fortune estimated at over $90 million is held in blind trusts. He ran Sara Lee Corp.'s Asia unit and was an executive with Haggar Clothing and footwear company Reebok. Buchanan earned much of his fortune through car dealerships and through his involvement in charter jet and yacht leasing. Rep. Young passed away on October 18, 2013. The 2004 figure was adjusted for inflation to 2012 dollars. CNN . Rob Portman's family founded and expanded a material-handling distributor. Insider removed him from the list when Mrvan acknowledged filing an incorrect personal financial disclosure that erroneously inflated the value of a retirement account by tens of millions of dollars. In a Trumpian move, he rented out a cottage on his Wilmington property for $26,400 a year, reportedly leasing it to the U.S. Secret Service in charge of protecting him. Issa did not report owning any individual stocks his wealth is largely held in diversified stock funds and his ownership of properties in California and Ohio. Notable stocks that Manning or her spouse held included Alphabet, Apple, Starbucks, Disney, Microsoft, Nike, Johnson & Johnson, and Pfizer. 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 anet worth of more than $1 million. When brought to my attention, I corrected the form and resubmitted it to the House where it will again be made publicly available." Beyer made his fortune running several car dealerships around Washington D.C. Sen. Ron Johnson was first elected to the U.S. Senate in 2010. This is the first part of the Personal Gain Index. Much of Issa's fortune comes from a car-alarm system called Steal Stopper and his time as the CEO of Directed Electronics. Before joining Congress, DelBene was an executive at Microsoft. When possible OpenSecrets tried to determine a more accurate figure. This was an inflation-adjusted annual percentage change of -0.94 from 2004 to 2012. One of Norman's IRA's is worth at least $5 million. She has represented the most populous state in the Senate since taking office in 1992. This is the first part of the Personal Gain Index. If you would like to help our coverage grow, consider donating to Ballotpedia. Rep. Susan W. Brooks is serving her fourth term in Congress. Democrat Rosa DeLauro has represented Connecticut's 3rd District which covers the central part of the state along the coast since 1991. Hoeven eventually became president of Westbrand Inc. Bank Holding Co. and retains at least $5 million in company stock. 51. Rep. Alexandria Ocasio-Cortez, D-N.Y., has supported raising the minimum wage, forgiving student loan debt and increasing taxes for the wealthy. He got his start in banking as a bookkeeper at First Western Bank & Trust in Minot, which was bought by his father. Prior to his first term, the Johnson campaign announced that he had liquidated all of his stocks, bonds, and mutual funds to avoid any conflict of interests. He went on to sell it for $10 million to McAfee . U.S. House of Representatives Press Gallery, accessed March 9. The tables and graphs on this page show some of the highlights of the study. Jim Risch has served Idaho on Capitol Hill as Senator since 2009. The McCaul family notably reported millions in limited liability companies and iShares funds, and at least $250,000 worth of Netflix stock. That data, currently available for the years 2004 to 2010, is listed in part below in the section Individual data. External Relations: Moira Delaney Hannah Nelson Caroline Presnell The representative reported one liability: a mortgage worth at least $15,001 through JPMorgan Chase. The wealthiest 15 members together had an estimated net worth of at least $1.3 billion, accounting for half of Congress' total estimated wealth. Rep. John Curtis is serving his first full term as a congressman from Utah. Research: Josh Altic Vojsava Ramaj 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. 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. Chao also collected a salary during her tenure on the boards of Wells Fargo and News Corp. Rep. Mike Kelly was first elected to the U.S. House of Representatives in 2010. He is the founder of the law firm of V. Gonzalez & Associates. From their 2009 required candidacy filing to 2012. The Census Bureau, the source of the average citizen data, breaks down net worth into wealth categories. 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. Elected officials and senior staff are prohibited from receiving honoraria for speeches, articles or appearances. 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. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. Net worth figures are rounded estimates derived from financial disclosure forms filed in 2018 and are not necessarily comprehensive or exact. Beyer reported at least $8.6 million in liabilities, almost all of which were mortgages on various properties he owned. Meijer reported at least $1.95 million in liabilities in the forms of a mortgage, lines of credit, and promissory notes. 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. Trone is a relatively new member of Congress he assumed office in 2019. In the private sector, she practiced law at the Indianapolis firm of Ice Miller. 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. Maloney is the widow of Clifton Maloney, who founded and ran the successful investment firm C.H.W. Members of Congress are paid $174,000 a year. Insider's calculations are conservative estimates based on the minimum values disclosed by members. Through most of her 20s, Ocasio-Cortez lived paycheck to paycheck, according to Time. The Republican, now in his fifth term, is a certified professional engineer who worked in the construction industry before he entered Congress. spent about $1.8 million of the $2.2 million she raised. The latest batch of numbers shows that the 113th Congress had a median net worth of $1,008,767. No, Nancy Pelosi's net worth is not $196 million If Your Time is short The $196 million figure is likely too high. The top range for item valuation is listed as "Over $50 million" on forms. Abraham graduated from the Louisiana State University School of Veterinary Medicine and practiced for 10 years before he got his medical doctor degree. Some longtime members of Congress watched their wealth rise to record levels in 2018. 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. Inhofe also worked as an independent businessman for three decades and was the president of Quaker Life Insurance Company. Feinstein herself has a $25 million plus stake in Carlton Hotel Properties. The earliest average was then adjusted for inflation. One . 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. 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. This number was found by dividing each member's total net worth growth percentage by the number of years included in the calculation. He also invested in the digital entertainment company Real Networks, which streams media on the Internet. Maloney & Co. from 1981 until his death in 2009. This percentage reflects the median annual percentage growth of all members of Congress. Senator must file.[8]. 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. Wyoming. Angus King is the only independent representative on this list, though he caucuses mostly with Democrats. Republican Francis Rooney was well known in Republican Party circles long before he took office in Florida's 19th District in 2017. 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. The disclosures required on the PFD include: An "American Citizen" figure was calculated in order to allow us to compare the change in household net worth of a member of Congress to the changes in net worth over the same period experienced by the average citizen. Lisa Blunt Rochester has represented the state of Delaware since going to Capitol Hill in 2017. 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. After that report, the Center for Responsive Politics OpenSecrets.org ranked Ocasio-Cortez as one of the poorest members of Congress, where more than half of members have a net worth of at least $1 million. Senators and Representatives during their time in office. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch More than 14 months after leaving office - and while still contesting the 2020 election - former President Donald Trump has seen his net worth soar to $3 billion, according to brand . Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Jimmy McAllister Samuel Postell 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 Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. 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.". In the private sector, Alexander co-founded a law firm in Nashville as well as a chain of children's daycare centers. 618 members are included in the congressional data, compared to the millions sampled in the census data. The first-term Montana senator won by almost 18 points in 2014 after serving one term in the House of Representatives. 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). Financial disclosures that members of Congress are required to file show that it didnt. In total, the study looks at 320 Republicans, 296 Democrats and two Independents. Your California Privacy Rights / Privacy Policy. Pingree sold the business in 1993 and now co-owns a bed & breakfast and restaurant in North Haven. The senator is the cofounder of two healthcare companies: Columbia Hospital Corporation (now HCA Healthcare) and Solantic. "After first signaling her opposition to these reforms, the Speaker purportedly reversed her position. The public employee retirement fund amount should have been in the thousands and not millions. Its content is produced independently of USA TODAY. Approximately half of McConnell's estimated wealth comes from a $5 million gift from his father-in-law in 2008. The congresswoman filed her next financial disclosure in September 2020. DelBene and her husband reported at least $1.1 million worth of shares in her former company. 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. Rep. Greg Gianforte has an estimated net worth of $135.7 million and attributes most of his wealth to a software company he built in the 1980s. Note: Report numbers may reflect incoming and outgoing members of congress. 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. Still, the wealthiest congressional representatives did not earn their fortunes as public servants. ", The citizen net worth data was calculated from figures from the United States Census Bureau. Issa listed one liability: a margin account holding him liable for over $50 million. Filers for the 2020 fiscal year were allotted an extra three months to submit their disclosures because of the pandemic. Foster sold his stake in the business before he ran for Congress. If we use the average net worth category for the House and . Kennedy's fortune comes from old family money specifically that of his great-grandfather, who was a businessman, and his great-great-grandfather, who was a co-founder of Standard Oil. Currently, used car information website Carfax is Beyer's top campaign contributor. Brooks also worked as a criminal defense attorney for Indianapolis-based law firm of McClure, McClure and Kammen. The salary of a typical member of Congress is $174,000. For a direct comparison to each individual member's figures (as shown on his or her Ballotpedia profile), the yearly median change will correspond with each member's average yearly change. The congresswoman reported two liabilities owned by her spouse: lines of credit amounting to more than $1.5 million. How much are your senators and representatives worth? Here are the richest members. 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. 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 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. First-term Sen. David Perdue of Georgia earned his wealth as a financial turnaround specialist for struggling companies. Two Facebook users who shared the post did not respond to requests for comment. How much are your senators and representatives worth? He entered the White House with a $1.4 million net worth and amassed an additional $5.6 million before he died, according to a report by American University. And much of Romney's fortune is in Goldman Sachs mutual funds. Changes in Net Worth of U.S. Ami Bera is serving his fourth term as representative of California's 7th District, which covers the state capital of Sacramento. Rep. Kenny Marchant of Texas is serving his eighth term in the House of Representatives. The Ohio legislator was elected to the Senate eight years ago after serving in the house from 1993 to 2015. You cansubscribe to our print edition, ad-free app or electronic newspaper replica here. The first-term senator from South Dakota Mike Rounds made his wealth by running insurance and real estate businesses with locations all over the state. Blumenthal's fortune is held almost entirely by his wife, Cynthia Malkin, with millions of dollars reported in various hedge funds, stocks, and real estate and property partnerships. She is also a co-author of the book "This Is Not the Life I Ordered: 50 Ways to Keep Your Head Above Water When Life Keeps Dragging You Down.". 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. 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,. All other content, including data analysis of net worth change, is posted under Ballotpedia's standard content license. 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). Romney's wife, Ann, also boasts an extensive portfolio that includes millions invested in private-equity and hedge funds.

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