Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2013, shows it took a net worth of $7.47 million to crack the exclusive club. For the first time, we went a step further by publishing a ranking of every single lawmaker by their minimum net worth. That full list with breakdowns of members' assets and liabilities is found below.
For the second year in a row, Issa tops the list as the richest member of Congress.
Issa lists seven high-yield bonds as being worth more than $50 million — the highest disclosure category. How much those bonds are actually worth is unknown; they could be worth hundreds of millions of dollars each.
But just as his wealth could be many times higher than the picture provided by his disclosure, it also could be far less. Issa maintains two liabilities valued at $75 million — one personal loan from Union Bank that is between $25 million and $50 million and another personal loan from Merrill Lynch that is listed in the highest category of $50 million. That loan could be many times more than Issa is obligated to report. His true rank on our list depends greatly on how much he actually owes to Merrill Lynch.
Before his election to Congress, the Californian made his fortune founding Directed Electronics — based in Vista, Calif. — which manufactures car alarms. Now, Issa appears to make his money through the bond market and high-end real estate. Roll Call Member profile »
McCaul may be, according to his financial disclosure, the second-richest member of Congress, but he didn’t list a single asset in his name — not even a bank account worth at least $1,000. Instead, McCaul’s wealth is entirely connected to his wife, Linda McCaul, the daughter of Clear Channel Communications founder Lowry Mays.
Exactly how much money McCaul and his wife have is a mystery. Several of the holdings in his wife’s name are in the broad spousal asset category of $1 million or more. On his 2011 disclosure, McCaul listed many of those same assets as being worth at least $50 million — the highest category. In that year, his wealth was estimated to be at least $305 million, and even though his wealth has been calculated closer to $100 million for the past two years, there’s no reason to believe he has any less money now than he did in 2011.
But even if some assets are being dramatically undercounted, McCaul’s wealth is still staggering — as is the number of assets listed in his wife's and children’s names. The McCaul family’s wealth is almost entirely invested in the stock market and in municipal bonds.
The family portfolio shows a wide-range of traditional stocks — AT&T, Wal-Mart, Berkshire Hathaway — as well as investments in a number of government bonds, with a special emphasis on investment projects in Texas.
Even with all the wealth, McCaul does maintain a mortgage debt of between $500,001 and $1,000,000 on his personal residence in Austin, Texas. It happens to be the only thing on his financial disclosure to which he is formally connected; it’s a joint liability with his wife. Roll Call Member profile »
One year after gaining notice as the most well-off congressional candidate elected in 2012, Delaney’s minimum net worth soared by almost 64 percent. He's now the wealthiest Democrat in Congress — and the third-richest overall.
The self-made financier is the only current member who has been a chief executive of a publicly-traded company, and he’s held that title at two businesses he created. The son of a unionized electrical worker, Delaney founded HealthCare Financial Partners as a young lawyer in 1993, which specialized in lending money to smaller medical firms. He sold his controlling interest six years later for more than half a billion dollars and used the profits to start CapitalSource of Chevy Chase, Md., which loans to small and midsize businesses that can’t get credit at good rates from bigger banks.
Although he stepped away from the bank’s day-to-day leadership before taking office, CapitalSource continues to be the principal font of Delaney’s riches. His stake in the firm, which topped $25 million the year he was elected, grew to exceed $50 million during his freshman year in the House.
A member of the Financial Services Committee, Delaney has a stake of between $5 million and $25 million in another suburban Maryland financial services firm he helped found: Alliance Partners, which specializes in helping small banks pool resources to invest in big projects. He also has investments of comparable significance in Congressional Bancshares Inc. of Bethesda, Md.; a hedge fund in San Francisco; an equity fund in New York and a money market account at Goldman Sachs. (The values of the last two assets jumped from the minimum $1 million range a year earlier.) He has smaller stakes in 16 other investment partnerships.
Delaney has more than $5 million on deposit with Wells Fargo and lesser balances at six other banks. A family trust owns stock in three dozen companies, from Airgas to Williams Sonoma. He and the trust have also purchased more than 40 different municipal bonds, about a third of them issued in Maryland.
Last year, Delaney got an influx of cash by exercising $4.7 million in CapitalSource stock options, and his wife, April, sold more than $2.5 million of her shares. The money that would have more than paid for the Capitol Hill townhouse the couple recently bought (without a mortgage). The Delaneys live in Potomac, Md., a half-hour drive from the Capitol but just outside the boundaries of the sprawling district where he spent $2.3 million of his own money to get elected two years ago.
The congressman’s only major liabilities, valued between $1 million and $5 million, are his mortgage on that house and the investment capital he borrowed from a newly formed family trust 16 years ago. Roll Call Member profile »
Rockefeller, an heir of the oil tycoon John D. Rockefeller, makes Roll Call’s 50 richest list in his last year in Congress, this year climbing up one spot with a minimum net worth of $108 million. That's an increase of $25 million from last year. The leap is caused by one of his blind trusts increasing in value from the $25 million to the $50 million range.
Rockefeller’s wealth is concentrated in three separate blind trusts: the trusts at JPMorgan and Wells Fargo are each worth at least $50 million and the third, at United National Bank in Charleston, W.Va., is worth at least $5 million. Because the highest category for disclosure is $50 million or more, Rockefeller’s assets from the JPMorgan and Wells Fargo trusts could be much higher than the minimum amount he was required to disclose. His total assets are worth at least $113 million, up from at least $89 million in 2013.
Recent transactions include the sale of property in D.C.'s Cleveland Park neighborhood by his spouse, Sharon Rockefeller. The five bedroom, 3.5 bath home was not their primary residence, and the disclosure listed a value of at least $1 million. Sharon Rockefeller also owns more than $1 million in PepsiCo corporate securities stock, and she received compensation of more than $1,000 for serving on PepsiCo’s board.
Rockefeller listed only two liabilities on his disclosure form. The first is a 1998 demand loan from United National Bank in Charleston, W.Va., worth at least $5 million. The second is a 2013 mortgage worth at least $500,000 in Sharon Rockefeller’s name. The mortgage for a New York City apartment as detailed on previous years' forms. It was previously worth at least $1 million, indicating the Rockefellers have paid down part of it. Roll Call Member profile »
Virginia’s senior senator, who recently became the junior Democrat on the Senate Finance Committee, made an enormous fortune as a venture capitalist before he turned 40, which is about when he began spending some of his millions to launch his rapid rise in Virginia politics.
After taking a job out of law school as a fundraiser for the Democratic National Committee, Warner started ventures in energy and real estate, but really hit it big in telecommunications. He convinced some investors to help him purchase cellular telephone licenses the government was selling for a relative song in the early 1980s and then staked a big and early claim in Nextel, which soon blossomed into one of the biggest wireless service providers. It was swallowed by Sprint Corp. a decade ago, by which point Warner had been state party chairman, staged one closer-than-expected bid for the Senate, had been elected governor and was being touted as a prime presidential prospect. Instead, he cruised into the Senate six years ago on a “radical centrist” platform and is the clear but not quite prohibitive favorite to win his second term this fall.
After big gains in his personal fortune the previous year, Warner’s net worth stayed flat in 2013. His minimum net worth decreased by $1 million since last year — a miniscule fraction of the $95.1 million total. Warner has no liabilities, and his assets remain largely tied up in blind trusts for the benefit of his family — portfolios over which he has no control and minimal awareness of the assets or transactions. The MRW Blind Trust is for the senator’s benefit. The LDC Blind Trust is for the benefit of his wife, Lisa Collis. Their children also have several hundred thousand dollars worth of assets in their trusts.
The senator’s most valuable investments are worth more than $5 million each. All five are part of his blind trust.
Warner sits on the board of directors of The Kennedy Center for the Performing Arts. He is also on the board of the Collis Warner Foundation, Inc., the family's charitable arm run by his wife. He reports no earned income from either position. Roll Call Member profile »
The youngest lawmaker among the ten wealthiest members of Congress, Polis has a diverse and unusual portfolio stocked with emerging growth and startup investments.
The Colorado Democrat's assets include stakes of at least $1 million in the world’s only aquaculture venture capital firm, Aquacopia; the Colorado Internet startup Confluence Commons Inc. (to which he also extended a line of credit worth at least $5 million) and the AIP Japan Fund V, which invests in senior housing in that country. Polis also has a blind trust worth at least $25 million that he set up after being elected to Congress. It delivered more than $1 million of income last year.
Diverse real estate investments in Colorado and Japan yielded at least $480,000 in additional income. And Polis benefited from the run-up in the value of stock in the ride-share company Uber Inc., with a stake now worth at least $500,000.
Polis reported more than $6.5 million in liabilities, including a Merrill Lynch line of credit worth at least $5 million. Roll Call Member profile »
Blumenthal may have been the biggest loser year-to-year in Congress, with a minimum net worth that fell more than $20 million and dropped him a few places on the 50 Richest list. However, the Connecticut Democrat filed an amendment last October to his 2012 disclosure form concerning the trust of his wife, Cynthia, the daughter of New York real estate magnate Peter Malkin. The adjustment means 2013 may not have brought nearly as much hardship to the couple as it seems.
Blumenthal's 2013 filing is speckled with private equity and hedge fund holdings. There's also a real estate company in Sao Paulo, Brazil, multiple properties in midtown Manhattan and entities that leased and operated the Empire State Building. Blumenthal additionally lists at least $600,000 worth of gold held at JPMorgan. The senator receives an annual pension for his 20 years of service as Connecticut’s attorney general before being elected in 2010, and he reported a single mortgage of $500,001 to $1 million as a liability. Roll Call Member profile »
The freshman Democrat from San Diego remains among the dozen richest members for a second straight year. He reported minimum net worth of $45 million at the end of his first year in the House, an increase of less than 1 percent since his year as a candidate.
That’s thanks in part to the investments he made with the millions he earned as an environmental attorney in the 1990s representing businesses and government agencies in their regulatory disputes. But it’s also because his wife, Lynn Gorguze, has been successful at the helm of Cameron Holdings, a private equity firm focused on manufacturing enterprises established by her father, former Emerson Electric executive Vincent Gorguze. She holds at least $14 million in assets, mainly investments in mutual funds and manufacturing companies.
Peters, who’s in a tossup race for a second term in one of California’s most politically competitive districts, has so far donated about $72,000 to his campaign. He invested almost $3 million to oust GOP incumbent Brian Bilbray in 2012, and Peters clearly has the resources to spend that much and more this fall. He continues to invest heavily in municipal bonds, with $12.5 million in paper issued all across his home state, along with notes issued by local governments in nine other states and Puerto Rico.
The congressman also reported $21,000 in pension payments from the City of San Diego, where he was a councilman for eight years and a port commissioner for four years. He donated the retirement nest egg to the city’s public library. Roll Call Member profile »
Not much has changed for Feinstein and her husband, private equity magnate Richard Blum, except that the form published for 2013 did not show the $2 million in liabilities present a year ago.
Feinstein's a classic case of one of the biggest faults in the reporting requirements: assets in Blum's name may be reported in a broad category of more than $1 million, so the calculated minimum net worth may be a significant understatement.
Blum's assets include holdings in Current Media, the company headed by former Vice President Al Gore that was sold to Al Jazeera. He has significant holdings through Blum Capital Partners in an array of businesses, including the Carlton Hotel chain and OZ Fitness. Roll Call Member profile »
DelBene saw her wealth increase substantially over the past year as the price of stock in Microsoft, where she and her husband both worked as executives, rose and they sold it off.
The Washington Democrat reported a minimum of $37.9 million in assets in 2014. That's $14 million more than last year, when the freshman lawmaker first landed on the list. She is the second wealthiest woman in Congress and is tops among first-term, female lawmakers.
She and her husband, Kurt, who left Microsoft last year and now oversees the federal government’s online health care enrollment website, healthcare.gov, made at least $2.5 million last year by selling off their remaining stock in the technology giant. Not surprisingly, Kurt DelBene returned his federal salary to the U.S. Treasury.
The largest new asset the couple listed is their main residence worth at least $5 million in Medina, Wash., a tony enclave just outside of Seattle whose most famous resident is Microsoft founder Bill Gates. They do not hold a mortgage on the property.
Most of their other assets are spread across a variety of investment accounts, including two funds worth at least $5 million apiece. They also have several million dollars invested in both university and municipal bonds. DelBene lists no liabilities. Roll Call Member profile »
After a three-year decline, Buchanan’s minimum net worth increased by roughly $6 million in 2013. The sudden change of course is due to fewer liabilities for the Florida Republican in the past year, which brought his minimum net worth up to $37.15 million.
In a year, Buchanan paid off a significant portion of the mortgage on his purchase of Lear Jet, Aircraft Holding & Leasing, LLC., decreasing the liability from $5 million to $1 million. He also closed a million-dollar line of credit at Bank of America used for one of his car dealerships, bringing down his liability total and subsequently increasing his minimum net worth.
Buchanan saw some other financial changes in 2013. He sold $2 million of hedge fund investments and a $1 million property in Florida. Buchanan also saw an investment in a Michigan apartment building increase in value from at least $1 million in 2012 to at least $5 million in 2013.
Despite some sizable transactions, the total value of the his assets remains relatively unchanged compared with 2012. Buchanan’s assets are still divided between investments and real estate holdings.
Buchanan’s financial disclosure report revealed he is a partner in or managing member of 35 organizations, which are mainly real estate entities. Buchanan remains a managing member of his automotive group, which helped build his fortune. Roll Call Member profile »
Pingree’s fortune may have leveled out in 2013, but her personal clout as a job creator amid the tight-knit island community of North Haven, Maine, continues to grow.
Pingree and her husband, investment guru Donald Sussman, saw little change in their financial picture — with nearly $34.5 million minimum net worth, almost $36.5 million in combined assets and $2 million of debt — over the past 12 months. Sussman maintains a steady revenue stream that includes seven-figure paydays from no less than a half-dozen prominent hedge funds, real estate ventures and various international organizations, while also juggling less rewarding enterprises (including Maine’s Own Organic Milk, Maine Today Media holdings and a pair of struggling property development projects).
Pingree, meanwhile, has consolidated the power base she established a decade ago with the opening of Nebo Lodge — which has since garnered nationwide attention from prestigious food and travel outlets — by expanding her hospitality empire to include seasonal “barn dinners” at her nearby home, Turner Farm. Her youngest daughter, Cecily Pingree, bolstered the family-run dining portfolio by launching a companion eatery, Calderwood Hall Pizza earlier this summer.
Should any of her projects need a shot in the arm, Pingree can tap into the more than $1 million she has parked in a personal account with JPMorgan Chase & Co. Then again, she doesn’t appear to spend her cash all willy-nilly.
Pingree allowed the Embassy of Turkey to pick up the tab for a 5-day trip to Istanbul she took last spring. Roll Call Member profile »
Miller cemented his standing as the one of the biggest real estate tycoons in Congress during the past year. Because the minimum value of his expansive and expanding property portfolio nearly doubled, to more than $33 million, he surged up several places on the 50 Richest roster.
This will be the Californian’s final appearance on the list of wealthiest members. He’s leaving this fall after eight terms, where he’s risen to be a senior Republican on both the Financial Services and Transportation committees, having concluded that his recently redrawn House district in San Bernardino County’s Inland Empire was too reliably Democratic for him to survive.
Miller got into the business of developing commercial and residential real estate after dropping out of community college in 1970, and he’d made enough of a fortune by 1998 that he was able to finance his bid to oust an ethically tarnished GOP incumbent in the primary. He’s been among the most well-off members ever since.
His first partnership, with a building contractor to bid on federal contracts to improve housing for the poor, led Miller to start building single-family homes and, later, developing planned communities. His two most ambitious recent ventures — in which his stakes grew last year to between $5 million and $25 million (up from the $1 million to $5 million range) — are both subdivisions at the eastern edge of the Cascade Mountains in Bend, Ore. Miller also owns rental houses, residential lots, commercial tracts and stakes in other developments in and adjacent to that picturesque boomtown. That portfolio was worth at least $11 million, but potentially as much as $51 million, and that was after selling 19 houses and twice as many buildable lots in 2013.
Bend is 850 miles from the congressman’s home town of Rancho Cucamonga, where his most prominent holdings are a 385-acre ranch, ripe for development and worth between $4 million and $20 million, and a handful of industrial lots worth $1 million to $5 million. He’s also holding onto a pair of one-acre residential lots (worth at least $1 million each) in the Los Angeles suburb of Diamond Bar.
The congressman also holds a handful of relatively small positions in investment funds. His only liability is a line of credit, on which he owes a minimum of $500,000, taken out last year. Roll Call Member profile »
Pelosi's minimum net worth in 2013 was slightly more than $29 million, a few million more than what she reported in 2012.
The boost in the House minority leader's personal finances is, in part, attributable to stock investments associated with her husband that grew significantly over the course of a year. Paul Pelosi's investment in Comcast, for instance, doubled between 2012 and 2013, from at least $250,000 to at least $500,000. Meanwhile, his stake in a real estate development project in Sacramento, Calif., skyrocketed from at least $1 million to at least $5 million.
Paul Pelosi also sold off a commercial property he owned in San Anselmo, Calif., which he had a mortgage of at least $1 million on in 2012.
The couple's joint investments, which are few, are primarily in California real estate. They include a vineyard worth at least $5 million that generated at least $100,000 in income from grape sales last year.
In 2013, Pelosi maintained her affiliations with a number of boards, institutions and associations, including the U.S. Botanic Garden, the Kennedy Center and the Women & Politics Institute at American University. She also added another non-paid position to the mix, joining the board of the Close Up Foundation, which states its mission as "informing, inspiring, and empowering young people to exercise the rights and accept the responsibilities of citizens in a democracy." Roll Call Member profile »
Renacci's minimum net worth decreased for a second year in a row, dropping him outside of the top 10.
The Pennsylvania native started out as an accountant in Pittsburgh before settling in Wadsworth, Ohio, to launch his own accounting business and invest in a chain of nursing homes. He later served as mayor of the town before running for Congress in 2010.
He's invested in professional sports teams, including a failed venture into the Arena Football League as part owner and general manager of the now-defunct Columbus Destroyers. However, Renacci continues to hold at least a $100,000 stake in the Lancaster, Calif.-based JetHawks, a minor-league baseball team.
He also owns real estate in several Ohio towns including Canton, Alliance, Louisville and Wadsworth. He purchased a Washington, D.C., property for at least $1 million in June 2013. Renacci's stake (at least $500,000) in Harley Davidson dealerships stayed the same after increasing in 2012. He is still owed a personal loan from his campaign worth at least $250,000.
Renacci reported only one liability, a line of credit worth at least $100,000 that he ended up paying off in full last year.
He once again disclosed the precise value of many assets instead of reporting them in broad ranges. His report of assets, liabilities and transactions runs to 447 pages. Roll Call Member profile »
The Texas Republican, born John Roger Williams, has raced into the ranks of the 50 Richest by virtue of his myriad automotive holdings.
The biggest chunk of his nest egg — Williams has a minimum net worth of approximately $28 million, with assets totaling around $31.5 million while carrying around $3.5 million in debt — is the eponymous JRW Corporation & Affiliates (estimated value: at least $25 million). Additional revenue streams in from assorted automobile dealerships, as well as a car-washing venture.
Williams collected another $50,000-plus from his stake in Quintana Energy Partners, an investment fund focusing on fossil fuels. His wife, Patty, kept busy by putting in hours at one of the family’s car dealerships. She also drew a paycheck from PK Flowers Interiors, Inc., a home designer offering services ranging from by-the-hour consultations to full-scale remodeling.
The couple has at least two fashionable places to hang their hats: their million-plus dollar home in Weatherford, Texas, and a $1 million-plus vacation spot just outside the city of Marble Falls, Texas. Williams borrowed more than $250,000 in 2012 to carve out a place for he and his wife at Horseshoe Bay Resort, a tony Texas community that boasts four professionally designed golf courses, a yacht club and dedicated spa.
In addition to the lakeside property, Williams has indulged his collector’s eye by amassing $1 million-plus in “sports memorabilia,” “political and military artifacts” and “historical documents,” as well as traditional art and photographs. He’s also tucked away at least $250,000 in an irrevocable trust for his children.
The guy is also quite the giver — to himself, anyway.
He’s owed upwards of $250,000 from his congressional campaign and one of his corporate holdings. Williams Chrysler Dodge Jeep, meanwhile, is on the hook to him for north of a cool million. Roll Call Member profile »
Grayson's net worth surged by almost $10 million as he actively bought and sold exchange traded funds — mutual funds that trade like stocks and allow investors to bet on short-term market movements. The Florida lawmaker netted more than $15 million from sales of the instruments, according to his transactions report. Liabilities were dominated by a margin account at TD Ameritrade worth at least $5 million.
Grayson founded the Grayson Fund Management Co. after losing his first re-election bid in 2010, a career change that allowed him to dive into asset management. His stake in the firm is worth at least $5 million, according to his financial disclosure report. His portfolio also includes at least $1 million of stock in Collectors Universe, which authenticates coins, sports cards, autographs and stamps; the aviation leasing firm Fly Leasing; and Northern Tier Energy. Other significant holdings are in drugstore chain CVS and Russia’s second-biggest oil company, Lukoil. Grayson also reported more than $1.25 million of options in China Mobile. Roll Call Member profile »
The New York Republican’s minimum net worth increased slightly compared to 2012. In 2013, Collins was worth at least $22.5 million due to investments in emerging companies and real estate.
Before coming to Congress in 2012, Collins was a successful businessman who used his management experience during a term as Erie County executive and his financial disclosure reflects his ties to Western New York.
Collins has significant investments in local companies including $5 million in Volland Electric in Buffalo, N.Y. He also has investments worth at least $5 million dollars in Buffalo's ZeptoMetrix Corporation, which is a biotechnology organization that focuses on infectious diseases and the immune system.
However, geography isn’t Collins’ only link to those particular companies. He worked for both ZeptoMetrix and Volland in the past and his wife, Mary Sue, is listed as receiving income from those two groups. However, Collins did not report his wife’s exact income, since House rules stipulate that for spouses, only the source and type of income must be disclosed.
The biotech investments also expand overseas, most notably to Innate Immunotherapeutics, a biotech company that develops technology that applies to the human immune system in an effort to combat certain cancers and diseases. In 2012, Collins invested in the company’s New Zealand offices. Collins expanded that investment in 2013 to the company’s Australia offices, purchasing $3 million in Innate Immunotherapeutics stock.
Collins’ investment in the biotech industry is well suited for his congressional subcommittee assignments. He is a member of the Agriculture Subcommittee on Horticulture, Research, Biotechnology and Foreign Agriculture. He also chairs the Small Business Subcommittee on Health and Technology.
Among the longest-serving of the relatively few remaining House Republican moderates, Frelinghuysen saw his minimum net worth slip significantly in the past year, even as his legislative influence surged.
Nine years ago, he was pegged the 11th richest member, but his wealth relative to his colleagues started slipping soon after. After coming in at 16 on 2012's list and landing at 18 last year, he has dropped another place, in part because the value floor for his expansive stock and real estate portfolio declined 17 percent to $17.3 million from $20.9 million.
A more public change for him came last November, when he was named chairman of the Defense Appropriations Subcommittee after the death of Florida Rep. C.W. Bill Young. The subcommittee takes the lead for the House in apportioning to the military slightly more of federal discretionary spending every year.
Frelinghuysen, along with half a dozen family trusts, maintains positions in more than 100 health care, technology, energy, financial services and consumer products companies. None is among the biggest defense contractors, but he owns between $50,000 and $100,000 worth of General Electric, which is providing more than $2 billion in communications systems to the Pentagon this year, and between $100,000 and $250,000 of Federal Express, which does at least $1 billion in annual deliveries for the military. He holds stock in at least a dozen other businesses that sell goods and services to the Defense Department and other government agencies.
About a third of his wealth, at least $6 million, is in the Proctor & Gamble stock he’s inherited. His mother, born Beatrice Sterling Procter, was a descendent of one of the personal care conglomerate’s founders.
Frelinghuysen also has more than $1 million invested in IBM and with the Daily Income Fund, a money market. He’s got at least that much in his checking account at a bank that caters to the high-net-worth residents in New Jersey’s horse country. And he’s got land worth about $600,000 at the outer edge of the New York suburbs and in the Berkshire Mountains of Massachusetts. Frelinghuysen reported no liabilities.
The congressman’s investments will gain additional scrutiny if, as expected, he becomes chairman of the Appropriations Committee in 2017. Kentucky Republican Harold Rogers will have reached his three-term limit then. Next year, Frelinghuysen will be second in majority party seniority and he remains safely ensconced in a district that covers many of the wealthiest and best-educated communities in the state, where his family has been a political force since the Revolution. When he arrived in the House in 1995, he became the sixth Frelinghuysen in Congress. Roll Call Member profile »
Black showed a slightly lower minimum net worth in 2013 than she did the year before — a roughly $3.7 million gap.
Part of the shortfall is attributable to a change in value of certain stock investments owned by Black's husband. The couple jointly listed a higher debt in 2013 than they did in 2012 — at least $11 million in mortgages on properties they own throughout Nashville, as compared to the $9.5 million minimum they listed the year before. Their initial rise in the wealth ranks since Black was elected to Congress in 2010 was also precipitated by the sale of her husband's forensic science company, Aegis Sciences Corp., to a New York private equity firm in late 2010.
But the second-term lawmaker still cleared the list's top 20 wealthiest lawmakers, thanks in part to continued, substantial investments in Tennessee real estate. All told, Black and her spouse jointly own least $19 million worth of properties throughout Nashville, plus a home in Panama City, Fla., with a minimum value of $250,000.
Black's husband, David, also lists numerous and significant stocks connected to Aegis, which began as a "sports anti-doping laboratory at Vanderbilt University" that the couple founded and where he still serves as president and chief executive officer. Roll Call Member profile »
The 33-year scion of the Kennedy political fortune also has inherited millions of dollars from his famed ancestors. Kennedy, the son of former Rep. Joseph P. Kennedy II and grandson of Robert F. Kennedy, is worth nearly $20 million, most of it held in a series family trusts. He’s currently the only Kennedy in Congress, winning election in 2012 after working as a county prosecutor. The trust holdings cover a wide-range of stocks spread across many sectors, among them Exxon, General Electric, Disney, McDonald's, Google and Coca Cola. His disclosure lists a few dozen stock market transactions over the past year, but none valued at more than $50,000. Kennedy, who debuted on the list as the 23rd richest lawmaker last year, moved up a spot this year as his wealth grew by more than $3.5 million as the stock market continued to rise. His largest liabilities are mortgages he holds with his wife, Lauren Anne Birchfield, in Massachusetts and Washington, D.C., on personal residences. The couple owes at least $500,000 on the mortgage for their property in the District, while the mortgage on their Bay State home is about half that. Like last year, Kennedy lists about $80,000 in student loans owed by his wife. Birchfield, who he met in law school at Harvard, works for the National Partnership for Women and Families but does not list a salary. She also received a $31,000 consulting fee from Boston Medical Center.
Risch, the junior senator from Idaho, saw little change in his wealth over the past year as his vast ranch and farm land holdings in Idaho held their value.
His net worth increased about $100,000 to a minimum of $19.2 million, but he dropped a few slots on the list as members with stock-driven investments saw their portfolios grow faster.
Risch’s largest holdings are ranch and farm lands in southwest Idaho, including three parcels worth at least $5 million apiece. He collects at least $5,000 annually on each of the properties in royalty and rent payments.
Risch sits on the Senate Energy and Natural Resources Committee, where he has sought to look out for the interest of Western landowners. In particular, Risch opposes the federal reintroduction and protection of gray wolves in the West that have killed calves on some of his land.
Additionally, Risch owns several commercial properties and is involved with several real estate partnerships, including an office building in Boise that he collected at least $5,000 in rent on last year.
Like past years, Risch also reports more than $250,000 in outstanding notes from his 2002 GOP primary campaign for lieutenant governor, which he won.
Risch also owns a condominium in Washington, D.C., worth at least $250,000.
Corker saw his minimum net worth jump $1.3 million over the previous year to at least $18 million. He reported eight transactions of more than $1 million each, including five purchases and three sales. Of the five purchases, one was for a transfer of at least $5 million to a Raymond James account.
The lion’s share of Corker’s wealth comes from several real estate investments, including The Volunteer Building in Chattanooga, Tenn., which was valued at a least $5 million. Corker owned a construction company, then became a real estate developer before ultimately being elected mayor of Chattanooga. He was later courted to run for the Senate by former Majority Leader Bill Frist, R-Tenn.
Corker also reported at least a $5 million interest in Pointer (QP) LP, a private investment partnership also based in Chattanooga. He also disclosed a $1 million investment in Gerber Taylor Partners and $1 million in Gerber Taylor Global Hedge L.P., both investment funds based in Memphis.
Corker reported no liabilities. Last year he listed a pair of mortgages connected to his Corker Properties Ltd. that were worth at least $1 million apiece and date to 1998.
McCaskill's net worth rose $3.5 million from last year to a minimum of $18.37 million. Most of her wealth stems from her husband, Joseph Shepard. The St. Louis businessman primarily made his fortune developing affordable housing and nursing homes around the nation. Shepard reported three transactions of more than $1 million, including a sale related to the New Zealand-based Fisher Funds. The other two transactions were purchases. McCaskill also reported receiving $70,000 from Simon & Schuster for a yet to be titled book. Shepard’s wealth became a topic of interest during McCaskill's last campaign, particularly over government subsidies he received in connection with his development business. Shepard’s assets include a minimum of $1 million each in Missouri and Georgia House Tax Credit Funds. He also has at least $1 million each invested in The Terrace Apartments and The Lockwood Group, a development firm. Shepard is also listed as holding at least $1 million worth of Berkshire Hathaway Class A shares, which sell for just over $200,000 each. He also holds at least $15,001 of the Class B shares. Berkshire Hathaway is a U.S.-based conglomerate owned by billionaire investor Warren Buffett. Buffett’s concern that his secretary paid a higher tax rate than he did became a principle — known as the Buffett Rule — pushed by Democrats that everyone should pay their "fair share" in taxes. Roll Call Member profile »
Petri’s assets may be similar year-to-year, but 2013 was very good to the retiring Wisconsin Republican. His wealth grew by more than 50 percent, according to his latest financial disclosure.
Of course, much of that growth may be attributable to how his assets are counted on his financial disclosure, but Petri has made some savvy, if not controversial, investments.
Petri is currently the subject of an Ethics Committee investigation due to his ownership of more than $500,000 in the Oshkosh Corp. The defense contractor, which resides in Petri’s district, has seen sharp stock gains thanks in part to Pentagon contracts that Petri advocated for.
Petri’s financial disclosure, which is in many places almost illegible, also lists more than $5 million in stock in U.S. Bank and Walgreens.
Petri’s liabilities include a mortgage of more than $100,000 and a loan from Merrill Lynch of more than $500,000, which is down from $1 million from last year. Roll Call Member profile »
Returning to the 50 Richest list is Rep. Richard Hanna of New York, whose minimum net worth increased slightly to $15.3 million. The New York congressman is once again boasting a healthy portfolio featuring stock holdings in companies such as PepsiCo, Chevron and Pfizer.
Hanna holds at least $250,000 in PepsiCo and a minimum of $500,000 in Chevron. His Fidelity money market account is worth a minimum of $500,000, a decrease from last year. His real estate assets include Gabriel Group LLC., in Utica, N.Y.
Held jointly with his wife, Hanna has a minimum of $20,000 in liabilities owed to Chase and American Express. Roll Call Member profile »
Arizona’s senior senator, the 2008 Republican nominee for president and among the pivotal legislative forces in Congress ever since, has roared back onto the 50 Richest list after two years off the roster.
The McCain fortune is almost entirely thanks to the senator’s wife, Cindy. For the past two decades, she has been the controlling stockholder in Hensley & Co., which her father, Jim, started in a quite sleepy Arizona in the 1950s but which has grown to become the largest beverage distributor in the burgeoning state as well as the third-largest Anheuser-Busch distributor in the country.
The senator’s minimum net worth more than doubled in the past year, to $15.1 million, because of significant gains in the McCain investments and big time reductions in the couple’s debts.
Their assets increased more than 35 percent because of a newly established portfolio of Charles Schwab accounts, held in Cindy McCain’s name, worth at least $3.4 million, along with four notes receivable from various McCain family trusts worth at least $3.25 million. On the other side of the ledger, Cindy McCain repaid more than $3.4 million in virtually interest-free promissory notes owed to the family business. That left as the couple’s only liabilities balances totaling more than $145,000 on a quartet of her credit cards.
That improved picture marked a big financial rebound for McCain, who had seen his millions shrink steadily since he last ran for president. His net worth was at least $20 million just six years ago, when he was the 13th wealthiest member of Congress.
His family money became an issue that year, when he conceded he couldn’t recall how many houses he owned. Democrats, led by their nominee Barack Obama, took delight in labeling that memory lapse as evidence McCain was way out of touch with the economic concerns of everyday Americans. The senator’s most recent disclosures makes that tally more clear. The couple still owns at least five residences: Their voting home in Phoenix, three properties in luxurious neighborhoods in southern California and the family’s picturesque getaway between Sedona and Cottonwood, Ariz., the ranch where McCain interviewed then-Gov. Sarah Palin of Alaska to be his running mate.
Beyond his Senate salary and some royalties for his books, the only income McCain added to the 2013 ledger was his $71,000 pension from his quarter-century in the Navy. Roll Call Member profile »
Hoeven, a successful bank president before entering politics, continues to be a savvy investor as he increased his net worth by almost a million dollars over the past year to $15.1 million.
The North Dakotan’s two largest holdings are the same as in 2013: at least $5 million in stock of Westbrand Inc. Bank Holding Co., based in Minot, N.D., that produced at least $100,000 in dividends, and at least $5 million in the Minnesota medical equipment company Northwest Respiratory Services LLC, which produced $2.3 million in income.
Hoeven is an active trader and holds an array of blue-chip stocks, including at least $100,000 in McDonald's, Microsoft, Intel, Johnson and Johnson, General Mills and Coca-Cola stock. He has a financial interest in high-end fashion with at least $100,000 in Coach stock and $50,000 in Ralph Lauren stock. And closer to his North Dakota roots, the Senate Agriculture Committee member owns at least $100,000 in John Deere stock.
His largest investment over the past year was $500,000 in Mainstream Investors LLC, a North Dakota company created in 2012 to provide capital for the state’s exploding oil and national gas production operations. He also made at least $100,000 when Berkshire Hathaway acquired HJ Heinz and brought out its stockholders.
Hoeven remains a director of the First Western Bank in Minot where he began his banking career in the 1980s. He’s due to receive a monthly pension of $837.74 from the bank when he retires and still maintains a checking account there with at least a million dollars in it.
The former automotive executive joined the ranks of wealthiest members upon winning a June special election for the seat vacated by Republican Trey Radel. Clawson's assets include at least $865,000 worth of real estate in Florida, Michigan, Illinois and the Caribbean and a stake in Italy's AS Roma soccer club worth at least $250,000.
Other holdings include at least $500,000 in Clawson Investments LLC, which invests in Endocyte Inc., a biotech company, and at least $500,000 in the Widsomtree Japan Hedge Equity Fund, which has positions in companies including Toyota Motor Corp. and Mitsubishi Financial Group. The lawmaker's portfolio also includes at least $500,000 in New York city and state bonds. Clawson's liabilities include a margin account with Deutsche Bank worth at least $250,000. Roll Call Member profile »
The first-term Wisconsin Republican's net worth climbed $1 million in 2013, as a property he and his wife own in Oshkosh, Wis., jumped a reporting category in value, to at least $5 million. It threw off $100,000 to $1 million in rent.
Johnson's single biggest asset is a money market account at Charles Schwab worth between $5 million and $25 million. He maintains a $1 million to $5 million stake in Pacur Inc., a plastics manufacturer he launched with his brother-in-law that's involved in medical device packaging and high-tech printing applications.
Johnson also has a 9.9 percent ownership stake worth between $250,000 and $500,000 in DPLenticular Ltd., a 3D printing business based in Ireland. Roll Call Member profile »
The second-most-senior House Republican has represented the Milwaukee suburbs since 1979, and he’s been among the wealthier members Congress ever since. That’s because he’s the heir to the Kimberly-Clark paper and consumer goods fortune. A great-grandfather rose to chair the company board after inventing its signature feminine hygiene product, Kotex, almost a century ago.
Sensenbrenner, who’s spent the maximum permissible six years in the top GOP seat on both the Judiciary and Science committees, is among the relatively few members who disclose more about their finances than the Hill’s rules require. He provides hundreds of pages of down-to-the-penny detail about his diversified portfolio of securities and their performances as part of 14 different family trusts. The records show the worth of his investments grew by 18 percent, or $2 million, in the past year, to just above $13 million. (Had he stuck with the ranges of value on the House forms, his minimum net worth would have looked to be a little more than half as much and he might not appear on the 50 Richest roster.)
Two trusts, created to benefit Sensenbrenner’s now-adult sons, hold a combined $2.3 million in stock issued by Kimberly-Clark and a pair of its spinoffs. The other trusts have no holdings in the family business. Instead, the congressman’s biggest stakes, worth $500,001 to $1 million, are shares in AbbVie, Exxon Mobil, Pfizer and Philip Morris.
Sensenbrenner supplemented his congressional salary with $45,000 in fees as a trustee of the family holdings and a $31,000 pension from his decade in the Wisconsin legislature. He also reported spending three recess weeks overseas (in Seoul, Tel Aviv and Munich) on educational trips paid for by nonprofits seeking to promote international good will. Roll Call Member profile »
The Senate minority leader has now been among the 50 wealthiest lawmakers for six consecutive years, since he won re-election to a fifth term. And in 2013, he saw his minimum net worth jump almost 30 percent, to a hair less than $12 million.
The Kentucky Republican’s reportable assets nearly tripled in 2008 thanks to a $5 million gift that he and his wife, former Labor Secretary Elaine L. Chao, received from her father, James, soon after the death of her mother. (After emigrating in the 1960s, the senator’s father-in-law founded a successful international trading business, now called the Foremost Group, specializing in importing Chinese-made goods to the United States.) The money has been invested ever since in a tax-exempt money market fund that remains the McConnells’ most significant asset by far.
The fact that McConnell has become so much better-off during his three decades in Congress has recently become an issue in his highly competitive re-election campaign. His Democratic challenger, Kentucky Secretary of State Alison Lundergan Grimes, aired a television ad in August alleging the incumbent had overstayed his welcome in the Senate by becoming “a multimillionaire in public office” while opposing minimum wage increases, fighting unemployment insurance extensions and supporting “tax breaks that send Kentucky jobs overseas.”
McConnell has not listed any liabilities for several years, and the bulk of the most recent increase in the value of his assets is attributable to investment gains by Chao. One of her mixed investment funds increased in value by at least $500,000, while the disclosure forms for the first time mentioned a pension investment fund in which she’s invested at least $500,000. Chao also received deferred compensation of at least $250,000 from Protective Life Corp., a life insurance business where she was on the board of directors. Roll Call Member profile »
Harkin’s net worth is virtually unchanged from last year, ticking down $30,000 to a minimum of $11.85 million.
Harkin himself owns very few assets — he has a bank account with Morgan Stanley worth between $1,001 and $15,001 and another in LPL Financial whose worth is in the same range. He also has three investments worth between $1,001 and $15,001.
Most of the assets belong to Harkin's wife, Ruth. The two most valuable assets are an investment in ConocoPhillips, and another in United Technology Corp., both owned by Ruth Harkin, each totaling at least $1 million. The Harkins made at least $100,000 in dividends on the ConocoPhillips investment, and at least $100,000 from an investment in Phillips 66.
Ruth Harkin was on the board of directors ConocoPhillips until last May. She previously served as senior vice president for international affairs and government relations for United Technologies and reported receiving a pension of at least $1,000 from the company this year.
She also earned at least $1,000 from Ireland’s National Toll Road as compensation for board membership, but does not currently hold any stock in the company. Roll Call Member profile »
A business consultant who also managed his own life insurance agency, Schneider saw his portfolio of investment partnerships and brokerage accounts swell in 2013. His largest stock holdings were stakes worth $100,001 to $250,000 in companies including Google, Facebook, Union Pacific, Exxon Mobil and Boeing.
Schneider reported almost $70,000 in income from insurance renewals at the Davis Dann Adler Schneider life insurance firm, where he was a managing principal at least a decade ago. His only liability is a PNC Bank home equity loan on his personal residence in Deerfield, Ill., worth $100,001 to $250,000. Roll Call Member profile »
Doggett's net worth grew by at least $1 million this year, thanks to the sale and purchase of stocks and mutual funds. The vast majority of the Texas Democrat's wealth is derived from stocks and mutual funds, a number of which he sold this year. The hundreds of thousands in stock Doggett sold include tech and communications companies such as AT&T, Cisco, Dell and Intel; energy companies such as Chevron, Exxon Mobil and General Electric; and banks such as Bank of America, Citigroup and JPMorgan. Doggett also purchased hundreds of thousands in mutual funds and municipal bonds.
Doggett's largest stock holding is valued at at least $1 million in the Austin-based supermarket giant Whole Foods.
Doggett also owns three rental properties in and around Austin, including a rental property valued at at least $1 million in Travis County. In addition to his House salary, Doggett also lists $64,906 in annuity income from the Employees Retirement System of Texas, earned during his tenure in the Texas Senate and on the Texas Supreme Court.
Doggett’s only liability is a letter of credit worth $250,000 to $500,000 on the Travis County property. Roll Call Member profile »
Cooper's net worth increased for the second year in a row, rising more than $3 million thanks to his growing real estate portfolio, which accounts for the vast majority of his wealth.
Cooper owns millions in land in his home state of Tennessee, as well as in Kentucky and Utah. That includes $5 million in investment properties, a beachfront property in Gulfport, Miss., worth at least $250,000, farmland in Tennessee and Kentucky worth at least $750,000, and millions in vacant lots, commercial and residential properties. He reported collecting more than $1.77 million in rent from those properties alone.
A former investment banker, Cooper also owns stock in a number of technology companies such as Microsoft, Intel, IBM Comcast and Qualcomm.
He reported $20,000 in earnings from an adjunct teaching job at Vanderbilt University’s Owen School of Management.
His sole reported liability is the SunTrust mortgage on his personal residence worth at least $250,000. Roll Call Member profile »
Lowey has been a perennial repeat on the 50 Richest, though her minimum net worth and rank have continued to drop. This year, her minimum net worth fell by almost $1.5 million moving her from 27 to 37.
In previous years’ filings, Lowey disclosed a New York State and Local Retirement System pension with a minimum worth of $50,000; this year the amount listed for that same pension was “undetermined.” Her spouse, Stephen, saw a doubling of his investment with the Santa Monica Partners hedge fund, in last year’s filing the asset was worth a minimum of $500,000, this year the fund is worth between $1 and $5 million. Other assets with a minimum worth of $1 million include: Capital Gains Arbiter Partners, Brownstone Investment Opportunities, Fidelity Money Market Fund, Ingalls and Snyder Value Fund and P. Oppenheimer Investment Partnership.
The Loweys do not have any listed liabilities, unchanged from previous years. The couple’s real estate holdings include 57 West 70th Development LLC in New York, worth at least $1 million. An apartment in the Capitol Hill neighborhood at 6th and C streets SE in Washington, D.C., is worth between $250,000 and $500,000, and generates between $15,000 and $50,000 in rent.
Rigell saw his wealth fall by $1.3 million from last year to a minimum of $11.29 million. With his wife Terri, Rigell founded Freedom Automotive, which owns and operates automobile dealerships in Norfolk and Virginia Beach, Va. Among his assets are Freedom Ford, a car dealership in Norfolk valued at no less than $5 million. Freedom Motors LLC, a Volvo dealership in Virginia Beach, was estimated to be worth at least $1 million. He also listed Freedom Properties LLC, which owns real estate in Northhampton County, Va., valued at no less than $1 million. He also has at least $1 million in TowneBank of Portsmouth, Va. As for liabilities, Rigell listed a home equity line of credit of at least $1 million on his personal residence in Virginia Beach and a mortgage of at least $500,000 on his personal residence in Washington, D.C. Rigell’s first business out of college was a cleaning service, which initially consisted of him and his wife. By 1990, he had earned an master's degree in business. He opened an auto dealership in the Virginia Beach area. Around that time, he began contributing to, and volunteering for, Republican candidates. He was also active in numerous business and charitable organizations.
Franks' net worth was virtually unchanged from a year ago, with more than $10 million in assets through Liberty Petroleum Corp., the Phoenix-based oil business he founded in 1997 with his brother, Lane Franks. Trent Franks transferred control of Liberty to his brothers when he was elected to Congress in 2002. They also own Providence Petroleum Corp. and Trinity Petroleum Corp., a holding company. The lawmaker continues to hold patents worth at least $100,000 for the LP 1000 Life Pager, a decoy pager that contains pepper spray for self-defense. Franks reported no income from the patents. He also has no reported liabilities.
The California Republican’s minimum net worth rose once again in 2013, from $9.35 million to $10.21 million.
Compared to 2012, the property value for one of Campbell's real estate holdings in California increased from at least $500,000 to $1 million. Campbell also increased a cash account for ACD holdings, a real estate company, by 10 times. The account jumped from $100,000 in 2012 to at least $1 million in 2013.
Campbell made his early fortune managing and owning car dealerships, but today the bulk of his wealth comes from his real estate investments. He and his wife invested in a seven properties through ACD Holdings, one more than the previous year. In 2013, Campbell sold one of his million-dollar properties to the company, where he is a managing member, making the total minimum worth for Campbell’s ACD investments $5.5 million.
Campbell’s financial disclosure also showed that his original real estate company Willoughby Land Company, LLC, changed its name to McNeeFarms, LLC. The company invests in a couple of properties in Cottonwood Falls, Kan. The McNee name is part of Campbell’s family history. McNee Farms owns the Campbell/McNee Family Farm in Kansas, which has a minimum value of $500,000. Roll Call Member profile »
The only North Carolinian on this year’s roster of the 50 Richest members, Hagan is also by far the wealthiest of the Democratic senators running in this fall’s most competitive re-election campaigns.
She has been among the best-off lawmakers since she arrived six years ago, and her minimum net worth has increased significantly since. The minimum value of her assets exceeded the minimum value of her liabilities by $6.7 million the year she won her seat; that measure of wealth had grown to $8.1 million in 2012 and was $9.1 million last year — a 37 percent increase during her first Senate term.
Despite her millions, however, Hagan has not spent anything of her own to fend off the coming challenge from GOP state Speaker Thom Tillis. She didn’t finance any of her 2008 campaign, either.
Hagan has been a player in North Carolina politics for 15 years, but spent her formative years in central Florida, where her father, Joe Ruthven, got rich investing in warehouses and industrial parks and was mayor of Lakeland. The senator’s investments are also centered in real estate, with big interests in several commercial properties owned by her dad’s businesses. Her most valuable asset, worth at least $5 million, was a stake in a commercial warehouse owned by Anchuca Holdings that she received as a gift from her father a couple of years ago. Hagan also has interests of $1 million to $5 million each in a pair of warehouses owned through the Ruthven Group.
The biggest asset of the senator’s husband, mergers and acquisitions attorney Chip Hagan III, is more than $1 million in BNC Bancorp stock. He also has a minor stake in the Greensboro Grasshoppers, the Class A Miami Marlins farm team.
The senator reported almost $7 million in liabilities, most of it mortgages. She owes more than $1 million on each of a pair of properties she owns in Orlando, Fla. There are smaller mortgages on one building in Arizona and one in North Carolina, two on undeveloped land in North Carolina and two on the senator’s residence in Greensboro. Roll Call Member profile »
Fleming operates several businesses in northwest Louisiana, including more than 30 Subway franchises as well as an active real estate rental operation. He formed a new home rental business, Flemto LLC, last year to supplement his existing real estate. He and his wife, Cindy, jointly run a sub-franchising business for the UPS Store worth at least $1 million.
Fleming's cash crop continues to be Fleming Franchise Development, LLC. It is worth at least $5 million and generates income from his various Subway and UPS operations.
Two mortgages for the physician's homes in Minden, La., and Washington, D.C., are worth at least $1 million and $500,000 respectively.
In addition to Fleming’s net worth, he continued to report earned income from his spouse from the Subway franchises they own, as well as a salary his spouse derives from being a director of the Minden Family Care Center, of which Fleming serves as president. Roll Call Member profile »
A blind trust established in April 2012 by Isakson more than doubled in value in 2013, increasing the senator’s net worth more than 39 percent year-over-year and bumping him back on the 50 Richest list.
After listing the trust’s 120 assets last year, valued at $2.4 million, the second-term senator listed his blind trust at $5 million to $25 million this year without detailing its assets. He reported at least $100,000 in income from the trust, mirroring last year’s filing. Isakson’s net worth has grown more than 30 percent since being elected to the Senate in 2004.
The value of the former realty executive’s additional 24 assets remained fairly unchanged from the previous year. While Isakson’s Bank of America stock was worth at least $15,000 this year, an increase from its $1,000 listing last year, Permit LLC, an Atlanta housing management company, was worth less than $1,000 from at least $100,000 last year.
Isakson did not list any transactions in 2013 and the home equity line of credit he incurred in 1993 was worth at least $10,000, at a minimum $5,000 less than in 2012.
While not included in his net worth, Isakson reported income from two money market accounts as well as from a variety of real estate holdings, including condos located in Athens, Ga. near the campus of the University of Georgia, of which Isakson is an alumnus. The former state lawmaker also received more than $8,000 from the Georgia Legislative Retirement System in 2013 in addition to at least $31,000 in social security payments for himself and his wife. Roll Call Member profile »
More than half of Price's minimum net worth continues to be held in several Fidelity investment and IRA accounts worth at least $4.5 million. Four of the IRA accounts worth at least $2.6 million are owned by his wife, Elizabeth, an anesthesiologist. The couple jointly hold the other Fidelity accounts.
A Michigan native, Price received his medical degree from the University of Michigan in 1979 and did his residency at Emory University before practicing as an orthopedic surgeon.
He also operates a Carolina Properties that holds apartment units in three states. His properties in North Carolina are in Eden, Granville and Oxford. He also has apartments in Newberry and Hartsville, S.C., as well as Wythe, Va. He also owns two rental condos in Washington, D.C., and Nashville, Tenn.
For the second year in a row, Price reported the partial sale of a medical office building in Roswell, Ga., at a loss.
Price once again attached financial statements detailing specific amounts for some assets to his disclosures. Roll Call Member profile »
Ohio’s junior senator made the roster of 50 Richest for the third straight year. He’s the only person on the list who’s a potential contender for a spot on the next national GOP ticket.
Portman has recently opened the door to a run for the presidency in 2016; he’s otherwise almost certain to seek a second Senate term. Given that no Republican has ever won the White House without carrying his home state, Portman is very likely to be on any vice-presidential short list (which he was in 2012) if he doesn’t end up the nominee.
For those reasons, scrutiny of his finances is likely to intensify in the months ahead.
Portman’s minimum net worth increased by $1.3 million, or 18 percent, in the past year — in part because of gains in his diversified investments, but also because he reports having eliminated all of his reportable liabilities, which exceeded $350,000 a year earlier.
The senator has had significant funds to invest since the death four years ago of his father, Bill, who started a small forklift company in Cincinnati and grew it into the Portman Equipment Co., one of the nation’s biggest material-handling distributors. His current holdings are concentrated in a score of municipal bonds, slightly more than half issued by cities and counties in Ohio, along with five dozen different mutual funds. Portman — the government’s chief trade negotiator and then budget director during President George W. Bush’s second term — does not own stock in any individual company.
Portman derives rental income from more than $200,000 worth of commercial and residential properties he owns in Ohio, West Virginia and Kentucky. But his largest single investment, now worth between $1 million and $5 million, is his share of the Golden Lamb Inn, which opened in 1803 in and is the oldest continuously operating business in the state. A dozen presidents have stayed at the Lebanon hotel, and many other statewide and national candidates have held rallies there in hopes of wooing the bellwether precincts of southwestern Ohio. (Mitt Romney visited three weeks before the last presidential election.) The hotel was purchased by Portman’s maternal grandfather in 1926, and the senator now owns it with his siblings.
After a year off of the 50 Richest list, Kelly is back. His minimum net worth decreased from $14.95 million in 2011 to $6.47 million in 2012. But in 2013, the Pennsylvania Republican's wealth increased, bringing his minimum net worth to $8.51 million.
Kelly’s boost in net worth was thanks in part to paying off a $1 million mortgage on a Pittsburgh property in 2012. With the mortgage paid off, Kelly did not report any liabilities in 2013. Kelly also added a sizable asset this year in the form of a note receivable worth at least $1 million for his Hyundai dealership.
Though Kelly made his fortune by owning car dealerships, much of his net worth is also thanks to his wife's extensive stock portfolio. Victoria Kelly’s stocks and bonds have a minimum value at $6.21 million and include investments in bonds in 12 states, from California to Florida.
Kelly and his wife also have smaller investments in PC Exploration Limited, a drilling company, and Campbell Gas Partners, a company that focuses on natural gas. In Kelly’s district, natural gas development has become a controversial issue. The Marcellus Shale runs underneath the Pennsylvania district and a natural gas boom from shale drilling has sparked a debate over the economic and environmental implications of fracking.
For the second year in a row, Marchant’s minimum net value has decreased. In 2012 Marchant was worth at least $9.18 million but the Texas Republican’s minimum net worth in 2013 was $8.13 million.
Marchant saw a number of his assets decrease in value in the past year. His 1,700-page financial disclosure, which included monthly statements for his investment accounts, showed that his First Dallas Hodges Fund decreased by nearly $2 million. In 2012, he reported the asset as $2.7 million but listed the fund as having a minimum worth of $1 million in 2013. His investment in a real estate company, Marken Interests Ltd., also significantly decreased. In 2012, Marchant reported a $1 million investment in the company, but that number dropped to at least $50,001 in 2013.
The Texas Republican’s liabilities only slightly decreased to compensate for the decrease in assets. Marchant slowly paid off his debts in 2013, closing a $15,000 line of credit at Chase Bank. He also shaved $10,000 off of a North Dallas Bank line of credit and paid $50,000 of a land mortgage that is now worth $2.75 million.
Maloney's minimum wealth continued to decline in 2013, plummeting to half of what she was worth in 2008. The New York lawmaker moved down several slots on Roll Call's annual survey following the 2009 death of her husband, Clifton Maloney, during a mountain-climbing expedition in Tibet.
The bulk of Maloney's $9.7 million assets is concentrated in real estate holdings largely in Virginia, as well as North Carolina, Jamaica, Washington, D.C., and New York. She holds more than $3 million in commercial and residential rental properties in Virginia Beach, in addition to real estate investments in farm and rental properties in Chesapeake and 96 undeveloped acres in Southampton County.
In the District, Maloney owns a Capitol Hill townhouse that she leases to fellow female members of the House. She reported at least $50,000 rent from the property in 2013. That income is countered by a mortgage of at least $500,000 that Maloney took out on the property in October 2012.
Unchanged from previous reports, Pearce’s largest asset is his holding in Trinity Industries, Inc., an equipment rental company that comprises at least $5 million of the Republican's portfolio. The company continued to produce multiple streams of income for him, including interest, capital gains, rent and dividends to the tune of at least six figures.
He’s also earned at least that much in income from another property and equipment retail business, LFT LLC, which is valued at a least $1 million. His wife reported a $1 million holding in Lea County Bancshares, where she is a director.
Pearce's minimum declared assets ticked down by about a quarter of a million since his last personal financial disclosure reporters. That's in part because two of his enterprises, Exedra Equipment Rental and Gree, Ltd Equipment Rental, decreased in value.
He now reports his Congressional Federal Credit Union funds are at a minimum of $15,000, compared to at least six figures last year. But he increased funds with the Lee County State Bank to at least $250,000.
Also, Pearce reported an increase in vehicles assets to at least $50,000.
The Florida Republican represents the sunny sugarcane fields and citrus groves spread across the central part of the state, but his wealth mostly comes from gritty Rust Belt neighborhoods more than 1,100 miles away. Art Rooney used his winnings from a horse race to create the Pittsburgh Steelers in 1933, and precisely eight decades later one of his grandsons benefited enough from that NFL franchise’s success to join the 50 Richest roster for the first time.
The third-term House member’s minimum net worth — the bulk of which is in a collection of family trusts that gain value with every economically robust Steelers season — climbed 7 percent over the previous year. (The team has been run by one of the congressman’s cousins since his uncle, Dan Rooney, became President Barack Obama’s first ambassador to Ireland.)
The trusts, in which Tom Rooney has a 14 percent interest but minimal input, also benefit from two other high-profile interests. The family owns both Yonkers Raceway, the harness track just outside New York City, and the Palm Beach Kennel Club, a Greyhound track about 100 miles east of Rooney’s 17th District.
The congressman made only two notable financial moves in 2013. He was able to reduce the mortgage on his suburban Virginia home below $250,000, and he spent somewhere between $1,000 and $15,000 to buy Lucy Boo, a two-year-old thoroughbred filly. Roll Call Member profile »