Sunday, August 26, 2012

America's 15 Richest Members Of Congress


It's no secret that members of Congress are much more wealthy than the rest of the country. 
 The average net worth of a Senator is more than $14 million, and the average net worth of a member of the House of Representatives is nearly $6 million.

Thanks to analysis from The Hill, we've put together the richest of the rich, looking at the top 15 members of Congress and how they're worth.

We also look at how they made the money and — most of all — where they keep it.

We count them down from No. 15 to No. 1. All facts and figures come from The Hill's analysis.

#15: Rep. Rick Berg (R-ND) is worth $23.8 million.

#15: Rep. Rick Berg (R-ND) is worth
                                $23.8 million.


Berg owns lots of North Dakota farmland, where most of his money comes from, and also owns hundreds of thousands of dollars worth of cattle. 

#14: Rep. Diane Black (R-Tenn.) is worth $24.8 million.

#14: Rep. Diane Black (R-Tenn.) is
                                worth $24.8 million.


Black — a former nurse — is married to Dr. David Black, whose investments have been performing particularly well. The couple also owns lots of real estate. 

#13: Rep. Nancy Pelosi (D-Calif.) is worth $26.4 million.

#13: Rep. Nancy Pelosi (D-Calif.)
                                is worth $26.4 million.


Pelosi's husband, Paul, is an investor. He holds a stake in the United Football League and has investments in a wide array of companies. 

#12: Rep. Chellie Pingree (D-Maine) is worth at least $31.8 million.

#12: Rep. Chellie Pingree (D-Maine)
                                is worth at least $31.8 million.


Pingree shot up the list this year after he marriage to hedge fund manager Donald Sussman. Sussman has been described as a billionaire by some sources. 

#11: Rep. Vern Buchanan (R-Fla.) is worth $36.5 million.

#11: Rep. Vern Buchanan (R-Fla.) is
                                worth $36.5 million.


Buchanan made his money through a printing company franchise and a series of auto dealerships. 

#10: Rep. Jim Renacci (R-Ohio) is worth $36.7 million.

#10: Rep. Jim Renacci (R-Ohio) is
                                worth $36.7 million.


Renacci is a self-made millionaire who founded LTC Management Services prior to coming to Congress. He's also got assets in five mutual funds. 

#9: Sen. Dianne Feinstein (D-Calif.) is worth $47.2 million.

#9: Sen. Dianne Feinstein
                                (D-Calif.) is worth $47.2 million.


Feinstein is married to investment banker Richard Blum, who owns a huge and diversified portfolio.

#8: Sen. Frank Lautenberg (D-N.J.) is worth $56.9 million.

#8: Sen. Frank Lautenberg (D-N.J.)
                                is worth $56.9 million.


Lautenberg started Automated Data Processing, the massive payroll company, prior to taking a seat in the Senate. He also has a stake in Amazon.com that is worth quite a bit of money.

#7: Sen. Richard Blumenthal (D-Conn.) is worth $80.1 million.

#7: Sen. Richard Blumenthal
                                (D-Conn.) is worth $80.1 million.


Blumenthal is married to Cynthia Malkin, the daughter of real estate mogul Peter Malkin. The pair's stake in Malkin Holding became worth a lot more in 2011 and they share a number of trusts. 

#6: Sen. Jay Rockefeller (D-W. Va.) is worth $83.1 million.

#6: Sen. Jay Rockefeller (D-W. Va.)
                                is worth $83.1 million.


Rockefeller is the great-grandson of John D. Rockefeller, one of the richest men in history. Most of his money is derived from various trusts and investments. 

#5: Senator Mark Warner (D-Va.) is worth $85.9 million.

#5: Senator Mark Warner (D-Va.) is
                                worth $85.9 million.


Warner made his money as a broker for telecommunications contracts in the eighties. He was the founder and Managing Director of Columbia Capital and made a fortune as an early investor in Nextel prior to becoming the Governor of Virginia.  He's now got a diverse portfolio and has assets in a number of investment funds. 

#4. Rep. Jared Polis (D-Colo.) is worth $91.1 million.

#4. Rep. Jared Polis (D-Colo.) is
                                worth $91.1 million.


Polis started American Information Systems while at Princeton and later would go on to help launch websites like ProFlowers.com. He's got a hugely diversified portfolio and is invested in many tech companies. 

#3: Rep. Darrell Issa (R-Calif.) is worth $140.6 million.

#3: Rep. Darrell Issa (R-Calif.) is
                                worth $140.6 million.


Issa made his money with Directed Electronics, a company that he founded. They are the largest manufacturer of car alarms, and it's Issa's voice you hear when "Please Step Away From The Vehicle" sounds off.  Issa's wealth plunged this year by $80 million. 

#2: Sen. John Kerry (D-Mass.) is worth $198.8 million.

#2: Sen. John Kerry (D-Mass.) is
                                worth $198.8 million.


Kerry's wealth increased by $5 million this year. Most of Kerry's money comes from his wife Theresa, an heiress to the Heinz Ketchup fortune.  Kerry also has a diverse portfolio and investments in multiple funds and land. 

#1: Rep. Michael McCaul (R-Texas) is worth $290.5 million.

#1: Rep. Michael McCaul (R-Texas)
                                is worth $290.5 million.


McCaul's father-in-law is the founder of Clear Channel Communications, the radio powerhouse company. Most of his wealth is tied up in family trusts and various partnerships. 

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