The Hill’s 2011 50 Wealthiest in Congress
Rep. Michael McCaul (R-Texas) has dethroned Sen. John Kerry (D-Mass.) as the richest member of Congress, according to The Hill’s annual list of the 50 wealthiest lawmakers.
McCaul reported a net worth of at least $287 million, by far the most of any lawmaker.
Analysis for The Hill’s Wealthiest shows that 2010 was a banner year for many well-heeled members of Congress. Lawmakers including Republican Rep. Darrell Issa (Calif.) and Democratic Leader Nancy Pelosi (Calif.) saw gains of millions of dollars in their fortunes.
Together, the 50 wealthiest lawmakers reported a minimum net worth of $1.6 billion, about $200 million more than the lawmakers who appeared on 2010’s list.
{mosads}Last year’s wave election brought big changes to The Hill’s rankings. More than a dozen lawmakers appear on the list for the first time, including 10 Tea Party-backed GOP freshmen with backgrounds in business, medicine and auto sales, among other professions.
The richest GOP freshman is Rep. Jim Renacci (Ohio), who reported a minimum net worth of $35.9 million, ranking him 11th on The Hill’s list.
One freshman Democrat, Sen. Richard Blumenthal (Conn.), edged into the top 10 with a minimum net worth of $54.9 million.
GOP gains in the 2010 elections helped shift the list toward Republicans. Six Democrats who made The Hill’s 50 Wealthiest in 2010 lost their reelection bids.
The rankings include 32 Republicans and 18 Democrats. By chamber, the breakdown is 29 from the House, 21 from the Senate.
To compile the rankings, The Hill reviewed all the congressional financial disclosure reports that lawmakers filed for the 2010 calendar year.
Those reports do not have precise values for lawmakers’ assets and liabilities but instead disclose value ranges for each item. The Hill’s researchers recorded the lowest number of each value range to calculate lawmakers’ assets and liabilities. The sum of the liabilities was subtracted from the assets for a low-end estimate of each lawmaker’s net worth.
Click through the following pages for the list of the wealthiest lawmakers and see how much they’re worth.
—Kevin Bogardus and Margaret Rawson
McCaul’s wealth exploded in 2010, making him the richest member of Congress by tens of millions of dollars.
{mosads}McCaul reported a minimum net worth of $73.8 million in 2009. The huge climb in his fortune can be partly attributed to several assets — mostly family trusts and companies — that McCaul estimated were worth a minimum of $50 million each. Furthermore, “certain assets owned by spouse were acquired via a gift from spouse’s parents,” according to McCaul’s 2010 financial disclosure report, although it’s unclear which assets were gifts from the congressman’s in-laws.
Most of the four-term House Republican’s wealth comes from his relatives: father-in-law Lowry Mays founded one of the country’s most profitable radio broadcasting companies, Clear Channel Communications. All of the lawmaker’s assets are either attributed to his spouse, Linda, or a dependent child, according to his 2010 financial disclosure form.
Linda McCaul also has an interest in Laguna Water Company, a water distribution company, and a real estate partnership, both based in San Antonio, Texas, and both worth at least $100,000.
McCaul reported no liabilities for 2010.
—Kevin Bogardus
The House Oversight and Government Reform Committee chairman has always been one of the richest members of Congress, but his wealth shot up in 2010 by almost $60 million.
{mosads}The rise in Issa’s fortune can be explained by his creation at the end of 2010 of several limited partnerships that received commercial properties from DEI LLC, a commercial property management company in Vista, Calif. Many of those new companies are worth at least $5 million each, and helped boost the value of his assets.
Issa founded Directed Electronics, the nation’s biggest manufacturer of car security systems.
Issa reported two massive liabilities in 2010: a debt with Greene Properties worth at least $50 million and another liability with DEI valued at least $25 million.
—Kevin Bogardus
Kerry no longer holds the crown of richest member of Congress, but he still was able to increase his wealth by nearly $5 million in 2010.
{mosads}That spike can be attributed mostly to Kerry reducing his liabilities. The senator reported he had more than $39 million of debt in 2010, compared to more than $44 million in 2009. The worth of his assets remained relatively the same, at the $232 million mark.
Kerry’s second wife, Teresa Heinz Kerry, is the widow of the late ketchup heir and former Sen. John Heinz (R-Pa.). Several of the Massachusetts Democrat’s assets that are attributed to Heinz Kerry are listed as “over $1,000,000” in value, which is in line with ethics rules but obscures how wealthy the couple really is.
—Kevin Bogardus
The West Virginia senator’s wealth fell by more than $2 million this year, down from $83.7 million in 2009, due to some of his assets losing value.
{mosads}Family trusts make up the bulk of Rockefeller’s wealth — his largest asset is a trust at JPMorgan Chase worth at least $50 million. Another trust, held at Wachovia Bank, is worth at least $25 million. His wife, Sharon Percy, also holds more than $1 million in stock at PepsiCo Inc., where is she is a board director.
Much of Rockefeller’s fortune stems from the money made by his great-grandfather, John D. Rockefeller. His company, Standard Oil, made the family name synonymous with wealth. Some estimate he was the wealthiest man in history.
—Elena Schneider
Warner’s fortune climbed by more than $6 million in 2010.
{mosads}The increase in the Virginia Democrat’s wealth can be partly attributed to Warner paring down his debts. While the senator had more than $1 million in liabilities in 2009, he greatly reduced that debt to just one liability: a loan guarantee with Virginia Commerce Bank, worth at least $15,000.
Before entering public service, Warner was an early investor in Nextel and dabbled in venture capital for tech companies. He still has several assets tied to one investment firm, Columbia Capital Corp., some worth at least $5 million each.
—Kevin Bogardus
Polis’s fortune grew by almost $10 million in 2010.
{mosads}That rise can be partially explained by the sophomore House Democrat’s effort to reduce his liabilities — a Merrill Lynch margin loan valued at a minimum of $5 million on his 2009 financial disclosure report seems to be have been paid off. That helped bring the lawmaker’s debt down to more than $2 million last year.
Before coming to Congress, Polis was a successful tech entrepreneur. The congressman still has investments in a multitude of tech and Internet start-up companies, especially in his home state of Colorado.
Polis also created a qualified blind trust in 2010. That trust is worth at least $25 million.
—Kevin Bogardus
Lautenberg saw a more than $5 million boost in his fortune in 2010.
{mosads}That rise can be partly explained by the New Jersey senator not reporting any liabilities last year, compared to the minimum $500,000 promissory note he had with TD Bank in 2009.
Lautenberg co-founded Automatic Data Processing, the payroll processing company, and served as its chairman and CEO. The Democrat still has at least $1 million in stock in the company.
Lautenberg’s spouse, Bonnie Englebardt, has several real estate properties in New York City that are worth at least $1 million each. The senator also has investments in commercial real estate in Connecticut, Florida and Hawaii.
—Kevin Bogardus
Blumenthal’s minimum net worth is $54.9 million, making him the wealthiest new member of Congress this year.
{mosads}Much of Blumenthal’s wealth can be attributed to his wife, Cynthia, who is the daughter of New York real estate magnate Peter Malkin. The senator reported many real estate investments linked to Malkin Holdings, including property worth more than $1 million in San Paulo, Brazil, and several New York office buildings.
Blumenthal also reported holding assets in the Empire State Building Co. and in Empire State Building Associates, which holds a 114-year lease on the 102-story landmark. Malkin founded Empire State Building Associates in 1961.
The rest of Blumenthal’s assets are tied up in a variety of investment funds and trusts, including several bank accounts valued at above $1 million.
The former Connecticut state attorney general reported no liabilities for 2010.
—Margaret Rawson
Feinstein’s minimum net worth decreased slightly, by more than $600,000, in 2010.
{mosads}The majority of the senator’s wealth stems from assets held by her husband, Richard Blum. Blum holds a wide range of investments and stocks in companies including CB Richard Ellis Group, Collective Brands, Avid Technology and Career Education Corp. He also has more than $1 million invested with Amyris, Inc., a California-based biofuel company.
In addition, the former San Francisco mayor holds several real estate holdings, including at least $5 million invested in the Carlton Hotel in San Francisco that she jointly holds with her husband.
Feinstein also reported two family trusts of her own, valued at least $1 million each.
The California Democrat’s spouse is listed for more than $2 million in liabilities from a line of credit with First Republic Bank and a term loan from Blum Capital Partners.
—Margaret Rawson
Buchanan saw his wealth slide in 2010 by roughly $9 million.
{mosads}That decline can be partially attributed to the three-term House lawmaker’s assets decreasing in value, though he also saw his liabilities fall. Buchanan makes the list of Capitol Hill’s wealthiest because of his background in auto sales. Several of his car dealerships in Florida and elsewhere are valued highly — often worth at least at $1 million, if not $5 million.
Buchanan did report lower debts last year. The Florida Republican listed more than $26 million in liabilities for 2010, including the holding, leasing and purchase of a Lear jet worth at least $5 million.
—Kevin Bogardus
The freshman House Republican, who was a financial consultant and owner of several businesses prior to his election to Congress in 2010, owns several assets tied to LTC Management Services, with close to $2 million in those holdings alone. He created the company in 1985, which owned and operated nursing homes throughout Ohio.
{mosads}The former businessman also lists three trusts meant for his children among his assets, with stocks including Walt Disney Co., Exxon Mobil Corp. and Wendy’s/Arby’s Group in each.
Renacci did not report any liabilities.
—Rachel Leven
The House minority leader’s minimum net worth skyrocketed by almost $14 million in 2010 because of some smart stock plays and real estate investments by her husband, Paul.
{mosads}Pelosi’s spouse, Paul, took a bigger stake in Matthews International Capital Management, which was worth at least $5 million last year, compared to $1 million in 2009. His holdings in some undeveloped residential real estate in Sacramento, Calif., jumped to at least $5 million in value. And Apple stock owned by Paul Pelosi rose from at least $500,000 in 2009 to $1 million in 2010.
Paul Pelosi is also a big backer of the United Football League. He has invested at least $1 million in a partnership interest in a Jacksonville, Fla., franchise, and at least $5 million in a partnership interest for the Sacramento Lions.
Pelosi and her husband also had a number of liabilities in 2010, including mortgages on several California properties, some valued at $1 million each.
—Kevin Bogardus
Elected in 2010, the freshman House Republican is among the wealthiest on Capitol Hill.
{mosads}North Dakota’s lone House representative has assets tied up in apartment buildings and real estate in his state, as well as in Minnesota and Iowa. Involved in several real estate investment companies, Berg and his wife also have farmland in Benson and Oliver County, N.D., worth at least $1 million total.
Berg, who has announced that he will run for retiring Sen. Kent Conrad’s (D-N.D.) Senate seat in 2012, has a number of liabilities valued at more than $1.8 million — including a farm equipment loan from Wells Fargo worth at least $15,000.
—Kevin Bogardus
Corker saw his minimum net worth climb by close to $3 million in 2010.
{mosads}The Senate Republican’s assets are concentrated in real estate holdings. His biggest assets are worth at least $5 million each, including an office building in Chattanooga, Tenn., and a shopping center in Maryville, Tenn. Corker has more than $2 million invested with CBL & Associates, a real estate development company, which is attributed to his dependent children.
The former Chattanooga mayor also holds investments in Pointer, LP and a trust worth at least $5 million each. Corker’s UBS bank account is valued to be worth at least $1 million.
The first-term senator reported more than $5 million in liabilities, which includes four mortgages.
—Margaret Rawson
Rodney is a sixth-generation member of Congress from a family that placed seventh in The Washington Post’s list of “American’s Top Dynasties.”
{mosads}In the past year, the New Jersey Republican’s wealth increased by about $500,000.
Much of Frelinghuysen’s wealth is tied to the stock market. He is heavily invested in Proctor & Gamble, with more than $7 million worth in stock, and other companies, including Johnson & Johnson, ExxonMobil and Pall Corp. In Stockbridge, Mass., Frelinghuysen owns more than 235 acres of land with a value of more than $100,000.
—Elena Schneider
The Idaho senator had a slight decrease in wealth in 2010, declining by about $300,000.
Risch saw his worth slide partially because several U.S. bank accounts listed to him dropped in value from at least $401,000 in 2009 to $31,000 last year. His largest assets are three plots of land in Idaho’s Ada and Canyon counties, worth at least $5 million each. The American Trailer Sales Co. owes the senator at least $500,000, which Risch lists as an asset.
Risch disclosed three mortgages as liabilities — two on investment properties and one on “real property” — totaling a minimum of $315,000.
—Rachel Leven
Miller’s minimum net worth dropped by nearly $2 million in 2010.
{mosads}A land developer before taking office, the California Republican owns lots valued in the millions of dollars in California and Oregon. Several plots of vacant land owned by Miller in Rancho Cucamonga, Calif., are worth at least $5 million. Miller made several sales and purchases of land in Deschutes County, Ore., in 2010. Two properties in Diamond Bar, Calif., are worth at least $500,000 each.
Miller also holds $500,000 of stock in his company, G. Miller Development, which he began in his early twenties. Two of Miller’s bank accounts are worth at least $1 million each.
Miller reported no liabilities for 2010.
—Margaret Rawson
McCaskill saw her wealth climb in 2010, increasing by approximately $1.3 million, thanks to some smart investing by her spouse, Joseph Shepard. He has stock in Enterprise Financial Services Corp. worth more $1 million.
{mosads}McCaskill’s husband has several assets worth more than $1 million, the largest category listed, including Fisher Funds of New Zealand, an investment fund, and the Missouri Housing Tax Credit Fund.
Shepard also has invested at least $500,000 in a tech venture — Appistry, Inc., a St. Louis, Mo. software company — that is listed as a preferred stock on McCaskill’s financial disclosure report.
McCaskill only holds one liability: an Enterprise Bank line of credit amounting to at least $50,000, which is listed to her husband.
—Rachel Leven
The four-term House Republican is a fan of disclosure — perhaps even over-disclosure.
Each year, Marchant includes lengthy bank statements — typically thousands of pages long — with his financial disclosure report. Some years the forms are more difficult to decipher than others, but The Hill was able to decode the lawmaker’s 2010 report, and found several sizable investment funds. One securities fund with North Dallas Bank & Trust Co. was worth more than $2.8 million, while a stock fund with the same company was more than $1.8 million.
The congressman also plays in the real estate market. Marchant has a minimum $50,000 interest in land near Phoenix and also has assets worth at least $5 million in Bonita Land & Cattle, consisting of more than 3,000 acres, cows and equipment.
Marchant reported more than $2.3 million in liabilities for 2010. Some of those debts included a mortgage with Bonita worth at least $1 million, as well as a $50,000 line of credit with Chase Bank Dallas.
—Kevin Bogardus
Lowey’s minimum net worth rose by more than $500,000 last year.
The uptick in Lowey’s worth was likely a result of the reported increase of a Fidelity money market fund from at least $500,000 in value in 2009 to at least $1 million in 2010. The fund is jointly owned by the lawmaker and her husband, Stephen.
The New York Democrat’s spouse has an ownership interest worth at least $1 million in the law firm Lowey Dannenberg Cohen & Hart’s profit-sharing plan. The Lowey family investment group is also worth at least $1 million, and Lowey holds several hedge funds worth at least $1 million.
The remainder of Lowey’s wealth is tied to several different investment funds. In 2010, Lowey purchased stock in both Cisco Systems and Microsoft. The couple have a joint Citibank bank account is valued at least $1 million.
The 12-term lawmaker reported no liabilities.
—Margaret Rawson
Hanna is another freshman House Republican who finds himself among the richest members of Congress this year.
Hanna was likely to be among the wealthiest on Capitol Hill after he filed a financial disclosure form as a candidate that had him worth more than $10 million. Hanna, a late-filer as a lawmaker, is worth more than $13 million, according to his congressional financial disclosure report.
The congressman started Hanna Construction soon after graduating from college in 1976, which grew to more than a 450-employee company and helped lead to his wealth. He still has at least $100,000 in assets tied to the company. His biggest assets though are several bank accounts and investment funds worth at least $1 million, including an S&P 500 depository receipt. He also holds sizable stock in well-known companies like Intel Corp., Johnson & Johnson and Microsoft.
Hanna reported no liabilities on his financial disclosure form for 2010.
—Kevin Bogardus
With a minimum net worth of $11.9 million, the freshman House Republican from Pennsylvania is one of several new members to join Capitol Hill’s wealthiest ranks.
Kelly’s Pennsylvania car dealership is worth at least $1 million, which he took over from his father in 1995 and worked to expand. The House Republican’s spouse, Victoria, has investments with a value of at least $5 million each in TWP Inc. and Phillips Resources Inc. — both natural-gas companies based in Warrendale, Pa. She is also the beneficiary of a trust worth at least $500,000.
Kelly reported one liability worth at $1 million: a mortgage on a Butler County, Pa., real estate property.
—Margaret Rawson
Franks saw one of the biggest spikes in personal wealth among lawmakers in 2010, with an increase of more than $7 million.
{mosads}That jump can be explained partly by the quirks of the financial disclosure system. Franks’s Providence Trust and his stock in Trinity Petroleum were both worth between $1 million and $5 million in 2009. Both of those assets jumped up to the $5 million to $25 million range in their valuations last year, boosting the congressman’s wealth under The Hill’s methodology.
Franks reported no debts in 2010, as he did in 2009.
—Kevin Bogardus
Rigell’s success with auto dealerships has earned him a spot among Capitol Hill’s richest.
Rigell was a senior executive at several auto dealers in Virginia. Many of those businesses, scattered throughout the Chesapeake, Norfolk and Virginia Beach areas, are each worth at least $500,000, if not $1 million. The freshman House Republican also has at least $1 million tied up in assets with Wachovia Bank. Along with the large holdings in auto dealers, Rigell has ties to Freedom Investments, with millions of dollars in commercial real estate.
Rigell reported two liabilities in 2010: credit card debt of at least $15,000 and a line of credit valued at $500,000.
—Kevin Bogardus
Black’s minimum net worth is $10.6 million.
{mosads}The freshman House Republican’s wealth is mostly concentrated in real estate and stocks. Black has six real estate properties with Ebon Falcon — five in Nashville, Tenn., and one in Florida. Some of those properties are worth at least $1 million to $5 million.
Black’s husband, David, also owns at least $5 million of stock in Aegis Science Corp., of which he is president and CEO. In late 2010, Black sold at least $25 million of stock in her husband’s forensic sciences company.
The Tennessee Republican also holds assets tied to a hedge fund and a broad market fund, both worth at least $1 million each.
Black reported liabilities totaling close to $6 million, including a line of credit with Ebon Falcon and mortgages on seven properties.
—Margaret Rawson
This Wisconsin representative increased his wealth by almost $1.5 million in 2010.
Much of Petri’s increase in worth comes from lowering his liabilities. In 2010, the representative’s only liability was a Merrill Lynch loan valued at $250,000 or more. That decreased from a $1 million Merrill Lynch loan last year.
Walgreens stock worth at least $5 million remains Petri’s largest asset. The congressman also owns at least $250,000 in McGraw Hill Co. stock, but sold his Washington Post stock this year, worth approximately $100,000.
—Rachel Leven
Alexander traveled the country in a red Ford Explorer during his brief run for the presidency in 1996, but these days, he can afford to spend a little more.
Even though Alexander’s wealth fell by more $1 million — partly attributed to the sale of land assets owned by himself and his spouse, Honey Buhler, in Nantucket, Mass., worth at least $1 million — he still ranks among the richest in Congress.
The majority of Alexander’s wealth lies in stock in a Knoxville, Tenn.-based company, Processed Food Corp., which creates menu items for national dining establishments, worth at least $6 million.
He also owns significant portions of land in Victoria, Texas — his wife’s hometown — and Placedo, Texas, totaling more than 2,500 acres.
—Elena Schneider
McCain’s wealth decreased in 2010 by approximately $700,000.
The 2008 Republican presidential nominee saw his minimum net worth decline as various family and company trusts went from about $3 million in value in 2009 to $2.9 million last year. His wife’s increase in liabilities also attributed to a slide in wealth for McCain: Cindy McCain racked up approximately $80,000 more in liabilities last year than in 2009, mostly in promissory notes.
The McCains have several real estate properties, including a guest house in Sedona, Ariz., worth at least $500,000. Cindy McCain’s Hensley & Co. stock is worth more than $1 million, and is also listed for a dependent child. Hensley & Co. is the beer distribution company her father founded, where Cindy McCain is chairwoman.
—Rachel Leven
Harkin saw his minimum net worth drop by about $200,000 during 2010.
The veteran Iowa lawmaker and his wife, Ruth, jointly hold a variety of investments, including stock in several blue-chip companies. Harkin and his spouse also own a vacation property worth at least $500,000 in the Bahamas.
The Senate Democrat’s wife is a board member for the oil-and-gas company ConocoPhillips, in which she owns at least $500,000 in stock. Ruth Harkin is also the former senior director of international affairs and government relations for United Technologies. She owns more than $1 million in stock in the company.
Harkin, the chairman of the Senate Health, Education, Labor and Pensions Committee, reported no liabilities.
—Margaret Rawson
Maloney represents some of the country’s highest-priced addresses, in the “Silk Stocking District” of New York City, and the majority of her assets are in real estate holdings and stocks.
{mosads}Maloney has assets tied up in Sea Bay Development Corp., a real estate business. Her most expensive asset is a rental property on East 92nd Street on the Upper East Side of New York City, worth at least $5 million. Maloney also owns a house on Capitol Hill, valued at a minimum of $1 million.
In addition, the Democrat has invested in properties in Jamaica, North Carolina, Virginia and Florida.
She also listed more than $2 million in liabilities, including mortgages and loans.
—Elena Schneider
Sensenbrenner takes disclosure to the extreme, filing a separate statement in the Congressional Record each year detailing his wealth down to the penny — including his $140,000 stamp collection.
{mosads}This year’s statement shows the 17-term House lawmaker’s portfolio increasing by about $200,000. Part of the rise in Sensenbrenner’s wealth comes from his stock in ExxonMobil, which rose in value from more than $651,000 in 2009 to more than $818,000 in 2010. The Republican also holds tens of thousands — if not hundreds of thousands — of dollars in stock in well-known corporations like AT&T, BP and Darden Restaurants.
Sensenbrenner also listed several vehicles in his possession, including a 1994 Cadillac DeVille valued at $2,050 and a 20-foot pontoon boat estimated to be worth $9,000.
—Kevin Bogardus
Snowe became the first Republican woman to be named to a full-term seat on the Senate Finance Committee in 2001. In 2011, she showed her personal financial prowess by keeping her place among Congress’s wealthiest.
{mosads}The majority of Snowe’s wealth comes from heavy investment in shares of the Education Management Corp., where her husband is the chairman of the board. Their stock is worth at least $2 million. Some of Snowe’s wealth is invested in money market funds, municipal bonds and mutual funds.
Snowe listed no liabilities in her disclosure.
—Elena Schneider
The Senate minority leader saw his wealth increase by more than $2 million in 2010.
{mosads}The spike in McConnell’s minimum net worth can be partly explained by some intelligent stock moves by the senator and his wife, former Labor Secretary Elaine Chao. The two exchanged stock for at least $500,000 worth of Vanguard 500 Index Fund Admiral Shares and also purchased a SunTrust money account priced at a minimum of $1 million.
Chao has two retirement accounts with the Heritage Foundation, where she is a distinguished fellow, worth at least $15,000 each. The couple also jointly owns a carriage house in Washington, worth at least $1 million, that they rent, providing income of at least $5,000 in 2010.
As in 2009, McConnell reported no liabilities last year.
—Kevin Bogardus
Price saw his personal wealth increase by almost $1 million last year.
{mosads}The Georgia Republican is a doctor, but has several sizable investment funds. A Fidelity Investments fund held by Price that was worth more than $1.8 million in 2009 was valued last year at more than $2.1 million. The lawmaker also has several real estate properties, including a vacant lot in St. Simons, Ga., worth at least $1 million. He also takes a pension from Emory University.
Price listed no liabilities in 2010.
—Kevin Bogardus
The freshman House Republican has turned her medical career into sizable wealth.
{mosads}Hayworth is a former ophthalmologist who had her own practice and served as an attending physician at Northern Westchester Hospital before coming to Capitol Hill.
A profit-sharing and savings plan started under another medical practice she shared — Mount Kisco Medical Group — accounts for much of her wealth. Several of the investment funds under the plan are worth at least $250,000. Her spouse, Scott, also a doctor, holds some large assets, including several properties in Mount Kisco, N.Y.
Hayworth reported zero debt in 2010.
—Kevin Bogardus
Kohl’s financial portfolio shows the limits of the financial disclosure forms filed by members of Congress.
In 2010, the retiring Wisconsin senator reported a minimum net worth of $9.2 million. But in 2009, that figure was in the red, with Kohl in debt to the tune of $4.6 million. Neither number is likely an accurate estimate of the Democrat’s wealth.
Kohl is definitely one of the richest members of Congress as owner of the NBA’s Milwaukee Bucks, estimated to be worth $258 million, according to Forbes magazine. But that only counts as $50 million under The Hill’s methodology, since the top asset range on the forms is listed as $50 million or greater.
Since Kohl reported $14 million less in liabilities in 2010 than 2009 — taking his debt to $101 million, instead of $115 million — the senator is again just millions in the black.
—Kevin Bogardus
Berkley, who is running for a Nevada Senate seat in 2012, saw her wealth climb by more than $1 million last year.
The rise in fortune for the seven-term House Democrat can be attributed to her assets increasing in value. A John Hancock retirement for her husband, Lawrence Lehrner, rose in value from more than $565,000 in 2009 to more than $693,000 in 2010. Much of Berkley’s wealth comes from her spouse, who also owns RRT, a Las Vegas dialysis services company that is worth at least $1 million.
Berkley’s liabilities remained much the same in 2010 as they had been in 2009, totaling more than $1.3 million. Some of those debts included several Nevada home mortgages, worth at least $100,000 each.
—Kevin Bogardus
Before coming to Congress, the first-term House Republican practiced law and founded Farenthold Consulting, a computer consulting and Web design firm.
{mosads}Much of the lawmaker’s wealth comes from family trusts, though, including one worth at least $5 million. Farenthold also has several real estate holdings, including farm land in Nueces County, Texas, worth at least $15,000, and a condominium in Lubbock, Texas, worth at least $100,000.
Farenthold reported a few liabilities totaling more than $60,000, mostly from credit card debt.
—Kevin Bogardus
Doggett’s minimum net worth rose in 2010 by roughly $500,000.
{mosads}The House Democrat owns stock in a variety of companies, including Whole Foods Market, ExxonMobil, Berkshire Hathaway, Coca-Cola and Procter & Gamble. Doggett holds several Vanguard funds and securities totaling more than $3 million.
A good amount of Doggett’s wealth is held in Texas real estate, including an Austin property worth at least $250,000 each and a Travis County property worth at least $1 million.
The nine-term Texas lawmaker reported one liability: a letter of credit worth at least $250,000 on his property in Travis County.
—Margaret Rawson
Campbell saw his minimum net worth decrease by more than $1 million in 2010.
{mosads}Campbell has consistently been among the richest on Capitol Hill — the four-term House Republican has his fortune wrapped up in several car dealerships, including many scattered throughout California, all worth at least $1 million each. He also does well in the financial services sector, sharing a Wells Fargo bank account with his spouse, Catherine, worth at least $100,000. He has another $100,000 in Goldman Sachs bank deposits, also shared with his wife.
As in 2009, Campbell reported that he had no debts in 2010.
—Kevin Bogardus
Flores, once an energy executive, is now one of the richest members of Congress.
{mosads}Having worked at several oil-and-gas companies over three decades, the freshman House Republican was president and CEO of Phoenix Exploration Co. before his run for Congress. But much of his wealth is in bank accounts and investment funds. Flores has a Fidelity IRA worth more than $2 million and a joint Fidelity account with his spouse, Gina, worth more than $4.5 million. The lawmaker also has a loan receivable from his congressional campaign worth at least $500,000.
Flores reported one liability — a margin account with Fidelity Investments worth at least $100,000 — but said it was paid off before the end of 2010.
—Kevin Bogardus
Johnson touted his record as a Wisconsin businessman during his successful run for the Senate, and his balance sheet shows why.
{mosads}Johnson started a plastics company by the name of Pacur in Oshkosh, Wis., that helped him earn millions. In 2010, the freshman senator held at least $1 million in Pacur assets, according to his financial disclosure report. Along with his wife, Jane, Johnson has a Charles Schwab cash account worth at least $5 million. He and his wife also hold separate Goldman Sachs accounts worth at least $50,000 each.
Johnson reported no liabilities in 2010.
—Kevin Bogardus
Back on Capitol Hill after serving three House terms, Pearce is one of the richest members of Congress.
{mosads}Pearce’s wealth comes from having stake in a number of rental equipment companies. In 2010, the freshman House Republican was president of Trinity Industries, Inc. and has assets worth at least $5 million. He also has a minimum $1 million stake in LFT, another rental equipment and property company in Hobbs, N.M. The lawmaker and his spouse, Cynthia, also have several assets worth hundreds of thousands of dollars in IRAs, bank accounts and stocks.
Pearce reported no liabilities in 2010.
—Kevin Bogardus
The North Dakota senator is one of several new lawmakers to join Capitol Hill’s wealthiest. Most of the Republican senator’s assets are held in stocks for several high-end firms, including investments worth at least $5 million each tied to Westbrand Inc. — a bank holding company based in Minot, N.D. — and Northwest Respiratory Services, located in St. Paul, Minn.
{mosads}Hoeven, a former banker, shares a joint First Western bank account with his wife, Mikey, valued at least $1 million.
The former governor of North Dakota’s worth would be much higher if not for a $5 million liability, a personal guarantee incurred in 2009.
—Margaret Rawson
The chairman of the House Energy and Commerce Committee saw his minimum net worth rise about $200,000 in 2010.
{mosads}Part of the increase can be attributed to a set of life insurance policies that Upton mistakenly left off prior financial disclosure reports. Those policies were worth at least $181,000 last year.
The Michigan Republican is typically among Congress’s wealthiest since he is an heir to the fortune of Whirlpool, the home appliance manufacturer. Upton and his wife, Amey Rulon-Miller, jointly own assets worth at least $1 million in Whirlpool, but a family trust fund is their most valuable holding, worth at least $5 million.
Upton does have one liability: a home equity line of credit with JPMorgan Chase, for at least $15,000.
—Kevin Bogardus
Bingaman saw his worth rise in 2010 after seeing the value of his assets surge by more than $500,000.
{mosads}Bingaman and his wife, Anne Kovacovich Bingaman, have stakes in several different investment funds. The senator’s spouse has a Goldman Sachs fund worth more than $3.5 million, while Bingaman has several holdings with Merrill Lynch and Ameritrade, including an IRA worth more than $8,000.
The New Mexico senator, who is retiring in 2012, also has a number of real estate investments. Bingaman has a 50 percent interest in more than 160 acres of land in Alamogordo, N.M., worth at least $100,000, as well as a minimum $250,000 interest in a Santa Fe, N.M., property.
Bingaman does have a few liabilities, including a revolving credit line with Citibank for at least $10,000.
—Kevin Bogardus
Hagan saw her wealth top the $7 million mark in 2010.
{mosads}Though she’s a North Carolina senator, Hagan’s family roots and wealth are attached to another state further south. Her father was once mayor of Lakeland, Fla., and some of the biggest assets in her and her husband’s portfolio include two commercial warehouses there worth at least $1 million each. Her spouse, Chip, also has undeveloped real estate in Greensboro, N.C., with some tracts worth at least $50,000 each.
Hagan reported more than $3 million in liabilities in 2010, including a mortgage on a Lakeland building worth at least $500,000.
—Kevin Bogardus
Nelson saw little change in his minimum net worth in 2010, only dropping about $100,000 in wealth.
{mosads}Up for reelection in 2012, the centrist Democratic senator is one of the richest lawmakers on Capitol Hill due to investment and rental properties in Chicago and in several cities in Nebraska and Washington. Nelson and his spouse, Diane, are also very familiar with the “oracle from Omaha” — Warren Buffett — and the senator has at least $500,000 in stock in Buffett’s Berkshire Hathaway. Nelson’s wife owns more than $1 million in Berkshire stock.
The former Nebraska governor was debt-free in 2010.
—Kevin Bogardus
The Republican senator, up for reelection in 2012, still remains one of the richest members of Congress.
{mosads}Isakson saw his wealth tick up slightly last year —from $6.4 million in 2009 to $6.5 million in 2010. Isakson has significant holdings in brand-name companies like Starbucks, IBM and Visa, but some of the senator’s biggest investments are in farmland and real estate. Isakson has a $500,000 holding in farmland in Marietta, Ga., as well as 12 acres of land in Georgia’s Raoun County worth at least $1 million. In addition, the senator has a Washington condo on Massachusetts Avenue worth at least $250,000.
For his one liability, Isakson has a home equity loan with Wells Fargo Bank for at least $15,000.
—Kevin Bogardus
The five-term House Republican saw his wealth decline last year, partly as a result in some moves in real estate.
{mosads}Neugebauer took on a new mortgage, valued at least $500,000, for a Capitol Hill property. The congressman already has a $500,000 liability on the same property that he incurred in 2007, according to his financial disclosure report. His minimum net worth took about a half-million dollar hit in 2010, down from $6.7 million in 2009.
The lawmaker’s Capitol Hill property is worth at least $1 million, however. Neugebauer also has assets tied up in a company that rents watercraft, worth at least $500,000, and made at least $5,000 in income from rentals in 2010. He also has several holdings in private equity and hedge funds, including some controlled by Goldman Sachs.
—Kevin Bogardus
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