congress net worth before and after office 2020

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. 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. These estimates assume no change in net worth between 2011 and 2012. The Center for Responsive Politics, the organization that runs OpenSecrets.org, calculated each net worth by adding all disclosed assets (corporate bonds, stocks, etc.) The top range for Senate spousal assets is listed as Over $1 million." Republican James Inhofe began his congressional career in the House of Representatives in 1987, serving Oklahoma's 1st District. Additionally, anyone who manages political campaign funds for a U.S. In September 2019, Sensenbrenner announced he would not seek reelection in the 2020 election. The high net worth of American lawmakers is partially attributable to their annual salaries of $174,000, which is more than triple the average wage across all American workers of $51,960 and higher than the median earnings of even the highest paying jobs in America. Insider's calculations are conservative estimates based on the minimum values disclosed by members. In the private sector, she practiced law at the Indianapolis firm of Ice Miller. Top editors give you the stories you want delivered right to your inbox each weekday. 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. ", The citizen net worth data was calculated from figures from the United States Census Bureau. Pelosi became speaker for the first time in 2007 and served until 2011. Source: Alex Wong / Getty Images News via Getty Images Alabama: Sen. Richard C Shelby (R) > Est. Obernolte, who joined Congress in 2019, also reported several investments worth millions in Vanguard tax-managed mutual funds. Negative to positive increases 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. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch 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. 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. lived paycheck to paycheck, according to Time. Feinstein was one of 48 members of Congress who Insider and other media organizations found in 2021 to have violated the STOCK Act. Pingree sold the business in 1993 and now co-owns a bed & breakfast and restaurant in North Haven. He is currently serving his second term as senator from Colorado. The 2020 financial disclosures are the most up-to-date financial documentation from Congress disclosures from 2021 are not required to be filed until mid-May. The Washington Free Beacon also estimated then that Pelosi's net worth had risen by $140 million since 2008. However, what the study is missing is how much he was worth in 1982 compared to 2012. Rep. Arkansas Republican French Hill is a three-term congressman who has served the state's 2nd District, in the central part of the state, since 2015. Speier is of counsel at the law firm of Hanson Bridgett LLP in San Francisco. The data used to calculate changes in net worth may include changes resulting from assets gained through marriage, inheritance, changes in family estates and/or trusts, changes in family business ownership and many other variables unrelated to a member's behavior in Congress. Filers for the 2020 fiscal year were allotted an extra three months to submit their disclosures because of the pandemic. Data is not available for a limited number of congressional members. Prior to his election to Congress, Shelby was an attorney. Currently, the top industrial contributors to Williams's campaign are oil and gas and automotive. 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. For the full set of data, please visit our Google spreadsheet here. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch 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.". Obernolte did not report any liabilities or debts. The senator is the cofounder of two healthcare companies: Columbia Hospital Corporation (now HCA Healthcare) and Solantic. Gore & Associates. 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. He snagged his first job in D.C. in 1968, working as the chief legislative assistant to Kentucky Sen. Marlow Cook. This was an inflation-adjusted annual percentage change of 3.7 percent from 2004 to 2012. Eight-term Rep. Jeff Fortenberry represents Nebraska's 1st District, which is in the eastern part of the state. Pelosi's husband, Paul Pelosi, is a successful venture capitalist. Democrat Earl Blumenauer has represented Oregon's 3rd District for nearly two and a half decades. The bulk of Romney's wealth derives from his success at Bain Capital, a private-equity investment firm where he rose to CEO. When this is the case, it is expressed with a negative percent. When possible OpenSecrets tried to determine a more accurate figure. Property (such as personal residences) and non-income producing investments are not required to be reported under ethics laws. 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. He. The reports cover 2020 and provide the most up-to-date estimate of members' net worth. Sen. Elizabeth Warren, in her second term as senator from Massachusetts, is seeking the Democratic Party's nomination for president. Pelosi previously opposed such a ban, but later came out publicly in support of it. Hollingsworth launched his campaign in his adopted home state of Indiana with over $3 million of his own money. Feinstein listed three liabilities, each of which belonged to her husband, for a combined amount of at least $3 million. Senators and Representatives (Personal Gain Index), All data relating to the average net worth of individual members of congress from. 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. Beyer reported at least $8.6 million in liabilities, almost all of which were mortgages on various properties he owned. It's not possible to know the precise net worth of members of Congress as they are only required to provide a range of values in their financial disclosures and not specific dollar amounts. She reported at least $165,000 in liabilities in the form of credit-card debt through various banks. Angus King is the only independent representative on this list, though he caucuses mostly with Democrats. Members of Congress are paid $174,000 a year. In addition to serving his constituency, Cooper teaches part time at Vanderbilt. Her family also owns farm equipment company Heartland Tractor. He rejoined Congress in 2021. The majority of Risch's $15.6 million net worth is tied up in real estate. The work paid $17,000 a year, or about $130,000 in today's dollars. The data goes from 2004 through 2012. 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 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. Of the "Top 100", 56 are Republicans, 43 are Democrats and one is an Independent. In July, Phillips placed his assets in a qualified blind trust approved by the House Committee on Ethics, meaning he'll retain little control over his assets while he's a member of Congress. 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. This Ballotpedia article is in need of updates. Rep. John Curtis is serving his first full term as a congressman from Utah. 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 Troy Carter, Melanie Stansbury, and Jake Ellzey have not filed their official financial-disclosure reports. And much of Romney's fortune is in Goldman Sachs mutual funds. Dingell worked at General Motors for more than 30 years where she was president of the GM Foundation as well as a senior executive responsible for public affairs. "After first signaling her opposition to these reforms, the Speaker purportedly reversed her position. In the 116th Congress, public disclosures had Florida's Rick Scott in first place with a net worth of around $300 million. Ocasio-Cortez said she made a payment that had reduced her student loan debt to $19,000. [9] Although this data is harder to compare member-to-member because the starting year may be different, it still provides insight as to who experienced the most drastic total increases. A median is the middle value of a list. DeLauro is married to political strategist and best selling author Stanley Greenberg. 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. Congressional net worth figures are a relatively small data set,[38] so Ballotpedia used average percentage changes throughout the study (adjusted as needed for outliers)[39] to best illustrate the average growth of wealth of members of Congress. Much of his $27 million fortune came from a career as an economist and intellectual property lawyer. In 1997 Gianforte founded RightNow Technologies, a cloud-based customer service program, which was bought for over $1 billion by Oracle Corp in 2012. Many of the wealthiest legislators first had successful and lucrative careers in the private sector. 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. Through most of her 20s, Ocasio-Cortez lived paycheck to paycheck, according to Time. 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. Carter started a pharmacy chain Carter's Pharmacy, Inc. in the Savannah area he now represents. Click here to contact our editorial staff, and click here to report an error. OpenSecrets.org (The Center for Responsive Politics), a self-proclaimed "nonpartisan guide to money's influence on U.S. elections and public policy," tracks the financial information, and posts it publicly under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License. Gov. DelBene's wealth is spread out among mutual funds, exchange-traded funds, and real-estate funds. The eight-term congressman from Texas, Rep. Michael Conaway is a certified public accountant who worked at Price Waterhouse and with George W. Bush as the chief financial officer for Bush Exploration. External Relations: Moira Delaney Hannah Nelson Caroline Presnell Before entering politics, two-term Sen. Joe Manchin worked at his family's furniture store, managed a carpet store, and then joined a coal brokerage. Sen. Ron Johnson was first elected to the U.S. Senate in 2010. Ocasio-Cortezsstory of bartender-turned-congresswoman after upending an incumbent Democrat in a safely blue New York district is well documented. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Jimmy McAllister Samuel Postell 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. Hoeven eventually became president of Westbrand Inc. Bank Holding Co. and retains at least $5 million in company stock. Rep. Nita M. Lowey has served in Congress since 1989, and currently represents New York's 17th District located in southern New York State, just north of New York City. 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. (January 2021) This list of members of the United States Congress by wealth includes the fifty richest members of Congress as of 2018. 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. 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. [40] The median figure can be beneficial in circumstances, like this one, where the high net worth of the wealthiest Americans can skew the average. During the 2020 election cycle, Ocasio-Cortezs reelection campaign spent $17.3 million after raking in $21.2 million. When brought to my attention, I corrected the form and resubmitted it to the House where it will again be made publicly available." [5] This page is about changes in net worth of U.S. In the private sector, Coons was an attorney with Delaware-based manufacturing company W.L. Note that in order to have an apples-to-apples comparison between the household net worth of U.S.