TOP 40 RICHEST MEMBERS OF CONGRESS WORTH $1.54 BILLION

By Howard Nema

Now that another mid term election is behind us and the Republicans have seized both the House and Senate, lets take a look at the wealth of our representatives, history and the widening gap between the have and have nots and determine if our elected officials are really doing the work of We the People, or if they are simply padding their own pockets at the detriment of America.

History proves that for the last 50 years both political parties have contributed to the socio-economic conditions America faces today.

The “Great Society” social welfare programs, the government take over of education, NAFTA, GATT, trade imbalances, outsourcing of jobs overseas, corporate welfare have all been courtesy of Congress and every president since Lyndon Johnson.    

To put all of this into perspective, the combined net worth of the United  States Congress is a whopping $1.54 billion.

And you wonder what is wrong with Our country.

 

(Courtesy of Roll Call)

  1. Rep. Michael McCaul (R-Texas)$294.21Million

    • Assets

      $294.21 Million

    • Liabilities

      $0.00 Million

    • Change

      298.9%

    When McCaul first appeared on Roll Call’s annual survey of the 50 Richest Members of Congress in 2005, he was a wealthy guy, reporting a minimum net worth of about $12 million.

    His financial disclosure report now depicts a fortune worth almost 25 times that amount, making him the wealthiest Member of Congress, at least on paper.

    McCaul ranked fifth among last year’s class of richest lawmakers, with a minimum net worth of at least $73.75 million, but has since risen to more than $294 million.

    The lion’s share of McCaul’s wealth is held by his wife, Linda McCaul, the daughter of Clear Channel Communications CEO and founder Lowry Mays, and the Congressman’s dramatic rise in net worth in 2010 appears to be the product of generational wealth transfer.

    A footnote to McCaul’s newest report noted that “certain assets” owned by his spouse were “acquired via a gift from spouse’s parents.” The accounts were not identified.

    On his financial disclosure, McCaul listed a new asset — the Linda McCaul Descendant Trusts — owned by his wife that was valued at more than $50 million. According to his report, that trust was invested in several other family partnerships.

    McCaul, likewise, added two trusts under the ownership of his dependent children, including one trust valued at $25 million to $50 million and another at $1 million to $5 million.

    Another of Linda McCaul’s investment accounts also appears to have doubled in value, moving from a minimum worth of $25 million to a minimum of $50 million.

  2. Rep. Darrell Issa (R-Calif.)$220.40Million

  3. Sen. John Kerry (D-Mass.)$193.07Million

  4. Sen. Jay Rockefeller (D-W.Va.)$81.63Million

  5. Sen. Mark Warner (D-Va.)$76.30Million

  6. Rep. Jared Polis (D-Colo.)$65.91Million

  7. Sen. Richard Blumenthal (D-Conn.)$52.93*Million

  8. Sen. Dianne Feinstein (D-Calif.)$45.39Million

  9. Rep. Vern Buchanan (R-Fla.)$44.21Million

  10. Rep. Jim Renacci (R-Ohio)$35.87*Million

  11. Rep. Nancy Pelosi (D-Calif.)$35.20Million

  12. Rep. Rick Berg (R-N.D.)$21.60*Million

  13. Sen. Bob Corker (R-Tenn.)$21.18Million

  14. Rep. Rodney Frelinghuysen (R-N.J.)$20.35Million

  15. Sen. James Risch (R-Idaho)$19.78Million

  16. Rep. Gary Miller (R-Calif.)$17.45Million

  17. Sen. Claire McCaskill (D-Mo.)$17.00Million

  18. Rep. Kenny Marchant (R-Texas)$16.45Million

  19. Rep. Nita Lowey (D-N.Y.)$15.46Million

  20. Rep. Richard Hanna (R-N.Y.)$13.73**Million

  21. Rep. Mike Kelly (R-Pa.)$11.90*Million

  22. Rep. Trent Franks (R-Ariz.)$11.60Million

  23. Rep. Scott Rigell (R-Va.)$10.69*Million

  24. Rep. Diane Black (R-Tenn.)$10.63*Million

  25. Rep. Tom Petri (R-Wis.)$10.60Million

  26. Sen. Lamar Alexander (R-Tenn.)$10.38Million

  27. Sen. John McCain (R-Ariz.)$10.35Million

  28. Sen. Tom Harkin (D-Iowa)$10.28Million

  29. Rep. Carolyn Maloney (D-N.Y.)$10.14Million

  30. Rep. Jim Sensenbrenner (R-Wis.)$10.14***Million

  31. Sen. Olympia Snowe (R-Maine)$9.88Million

  32. Sen. Mitch McConnell (R-Ky.)$9.84Million

  33. Rep. Tom Price (R-Ga.)$9.43Million

  34. Rep. Nan Hayworth (R-N.Y.)$9.35*Million

  35. Rep. Shelley Berkley (D-Nev.)$9.29Million

  36. Sen. Herb Kohl (D-Wis.)$9.23Million

  37. Rep. Lloyd Doggett (D-Texas)$8.53Million

  38. Rep. Blake Farenthold (R-Texas)$8.51*Million

  39. Rep. John Campbell (R-Calif.)$8.44Million

  40. Sen. Ron Johnson (R-Wis.)$8.18*Million

* Indicates a freshman Member of Congress. Roll Call did not calculate percent change from forms filed as candidates.

** Member has not yet filed a disclosure form this year. The number here is based on the last available data, a disclosure form filed last year when he was a candidate for Congress. This information will be updated.

*** Roll Call added Sensenbrenner to this list after initial publication based on more detailed information about his wealth provided by his office. Sensenbrenner used to file a personal wealth statement — detailing not only his stock investments and bank accounts, but his travelers checks and stamp collection — along with the standard disclosure form. He did not attach a similar accounting with his 2010 financial report filed this spring, which showed a net worth of at least $5.19 million. But during Roll Call’s review of the details of Sensenbrenner’s nearly 700-page report, his office pointed to a separate financial statement he submitted to the Congressional Record in May, which indicates the Wisconsin lawmaker has a net worth of $10.14 million dollars, including several items that he does not have to report on the disclosure form. With Sensenbrenner’s addition, Rep. Rosa DeLauro (D-Conn.) drops from our list.   (COURTESY OF ROLL CALL)