The U.S. congress comprises the Senate and House of Representatives chambers. It is the main legislative body of the government. Before one is elected to join either chamber, they must declare their net worth. Any elected leader is expected not to engage in any business with conflicting interests. That's the reason why many politicians will engage only in private business and through their partners. This article examines the top 20 richest members of Congress as of 2022.
20. Rep. Kevin Hern (R) ($26.7 million)
Kevin was elected to Congress in 2018 and represented the 1st Congressional District of Oklahoma. Before getting into politics, Hern was the national leader of McDonald's franchises. After joining Congress, he became a member of more than 10 Republican causes groups; he serves on the Ways and Means committee. After leaving McDonald's Corporation, it turned to his greatest campaign financier with the help of AAON Inc., William Companies, Koch Industries, and the American Bankers Association. Through his campaign, the committee has raised approximately $ 4.5 million. According to Business Insider, he is among the politicians who violated the STOCK Act in 2021 by failing to disclose trades valued at $1.06 -$ 2.7 million.
19. Rep. Kathy Manning (D) ($27.2 million)
Manning is famous for her sound law arguments in the House of Representatives. With more than 15 years of experience in private law practice, she was elected to represent the 6th Congressional District of Carolina in 2021. According to Congress.gov, she played a significant role in the passage of laws and policies on promoting safety in communication, the democratization of America's institutions, and the protection of children, among others. Manning has invested in stocks, real estate, government securities, mutual funds, and exchange-traded funds. She is a member of the Education, Labor, and Foreign Affairs committees.
18. Rep. Don Beyer (D) ($29.8 million)
Since 2015 Don Beyer has been representing the citizens of the 8th Congressional District of Virginia. He was the lieutenant governor of Virginia (1990-1998). He served in Obama's administration as the Ambassador to Liechtenstein and Switzerland. Before joining politics, he ran a Volvo dealership in Northern Virginia with his father. Stocks, reals estate, and government securities are his main investment areas. During his stay in Congress, Don has served in the committees on Science, Space and Technology, Ways and Means, Natural Resources, and Joint Economics.
17. Rep. David Trone (D) ($32.9 million)
Before joining politics to represent the 6th Congressional District of Maryland, Trone was running his Total & More business. His business has been under focus from the regulatory authorities for being accused of unethical business practices such as offering unlawful discounts to undercut small businesses. Initially, he had run for the position in 2016, but he lost despite using $13.4 million in the campaign. Surprisingly, he contributed to the Republican party before joining the Democrats. Trone has invested in exchange-traded funds and mutual funds.
16. Rep. Jay Obernolte (R) ($39.2 million)
He was just elected to Congress in 2021 to represent the people of California, the 8th Congressional District. Obernolte has already had his feet on the legislative agenda by joining the Natural Resources, Budget, Science, Space and Technology, Business and Professionals, Privacy and Consumer Protection, and Appropriations committees. Before joining active politics, he was the mayor of Big Bera Lake City.S. Obernolte founded FarSight Studios, a company that focuses on developing family-friendly games. With fantastic support from Eagle Creek Aviation, Majority Committee PAC, National Association of Realtors, and Tiger PAC, he has managed to raise $2.3 million through a high campaign committee. In addition, he earns dividends from his investments in the Vanguard mutual funds.
15. Rep. Scott Peters (D) ($39.7 million)
According to his website, Rep. Scott Peters has managed to draft and participate in bills that improve national security, access to clean and reliable energy, and expand defense partnerships. Before joining Congress in 2013 to represent the 50th Congressional District of California, Peters was a practicing lawyer in San Diego (1991-1996). He also worked as an environmental lawyer and was later elected president of the San Diego City Council. Together with his wife, Lynn Gorguze, they have invested in mutual funds. In addition, Peters has purchased government securities, his primary income source. He has managed to raise $900,000 as campaign funds throughout his political career.
14. Nancy Pelosi (D) ($46.1 Million)
When the American Congress is written, Nancy Pelosi's name will never fail to have its chapter. She's created controversy from day one, including recent reports of her husband's arrest for drunk driving and causing an accident. Her husband pleaded not guilty following his May 2022 arrest despite a blood alcohol level of .082, which is well over the legal limit. For 9 years, she has been representing the 8th Congressional District of California. She has many firsts on her name.
In 2002, she was elected the first lady minority leader in the House of Representatives, culminating in her appointment as the first female Speaker of the house in 2008. In 2020, she was caught on video having her hair done in a closed salon. She advocated profusely to keep businesses shut down and people in their homes in her home state of California for many months following the initial two weeks to slow the spread moment during COVID-19. This forced many small business owners to shut their doors for good, but she called it a safety measure.
The world was shocked to see her on camera in a shut down salon getting her own hair done after telling everyone else salons and other non-essential businesses should remain closed. She was also maskless in the video despite being outspoken on the importance of wearing masks at all times. She jointly owns stock with her husband, who has holdings in Tesla, Slack, Salesforce, Visa, Alphabet, PayPal, Netflix, and Facebook. Pelosi has also invested in real estate, and she owns commercial properties for apartments, vacation homes, and office spaces. According to the latest fillings, she reported a $20 million liability.
13. Rep. Susan DelBene (D) ($52.1 million)
The ever-smiling Susan DelBene has been representing Washington's 1st Congressional District since 2012. Before joining Congress, she was the Marketing and Business Director at Microsoft and Nimble Technology's CEO; she was in the corporate world. She also worked with Drugstore.com as its vice-president. She has used her private sector experience to effectively serve on the Ways and Means, Budget, Agriculture, and Judiciary committees. Her main investment areas are mutual funds, exchange-traded, and mutual funds. With assistance from Microsoft, Puget Sound Energy, The University of Washington, Amazon, and the New Democratic Coalition, she has managed to raise $1.1 million in campaign funds.
12. Rep. Peter Meijer (R) ($60.5 million)
Peter was born in the famous Meijer superstore dynasty, which has more than $ 18 million annual turnover. Most of the dynasty's family members work for the company, but he chose a different path. He served in the army as a reservist for 8 years and deployed in Iraq from 2010-2011. Peter also worked for Olympia Development of Michigan from 2013-2015. Though he has a short congressional career coming to an end in 2023, after losing the Republican Primaries on August 2, 2022, his campaign team has managed to raise $ 4.5 million. Peter holds Johnson & Johnson, Visa, Tesla, and Home Depot stock. A liability of $1.95 million was part of his disclosures before he ran for office.
11. Rep. Roger Williams (R) ($67.4 million)
Roger Williams has served the 25th Congressional District of Texas for 9 years and has already demonstrated intentions to continue serving. He served as a state secretary for Texas from 2005-2007. Williams has served in the Financial Services, Small Business, Financial Services, Budget, and Transportation and Infrastructure committees at different times. According to the Fort Worth Star-Telegram, he has sponsored bills on improving transportation services, protection of family businesses, and how to increase accountability and accuracy in Medicare expenditure. His net worth has been boosted by investing in real estate, mutual funds, and select stocks. Williams also engages in car dealerships in Texas, and as per his latest reporting, he has shares in two aircraft leasing companies.
10. Rep. Doris Matsui (D) ($73.8 million)
Her name is predominantly featured in President Bill Clinton's administration. She served on his transition board and later became a Deputy Assistant to the president. Doris joined Congress in 2005 in the Democratic party to represent the 6th Congressional District of California. Some of her most incredible archives are drafted bills on neutrality and broadband justice, housing access improvement, and marriage respect. Over the years in Congress, she has raised approximately $9.6 million as campaign funds. Her husband, Roger Sant, holds the majority of the wealth. Mr. Sant is the founder of Fortune 500, a holding company. It majors in the production and distribution of electricity. Doris has heavily invested in trusts, limited liability companies, money-market funds, and exchange-traded funds.
9. Rep. Trey Hollingsworth (R) ($74.6 million)
Since 2017, Trey Hollingsworth has represented the 9th Congressional District of Indiana. He founded Hollingsworth Capital Partners together with his father in Tennessee. The company specializes in building and marketing facilities in more than 15 U.S. states. He financed a significant part of his campaign with the help of his father. However, he got some finances from Ernst & Young, Ally Financial, The American Bankers Association, the National Beer Wholesalers Association, and New York Life Insurance to $ 6.7 million. All along, he has served on the committee on Financial Services.
8. Sen. Richard Blumenthal (D) ($85.2 million)
Richard Blumenthal has been the Senate representative for Connecticut for 11 years and has indicated that he wishes to vie again. His voting patterns have demonstrated a complete loyalty to the Democratic party. Before joining politics, he was a career attorney for Connecticut people. Over his career, he has served on several Aging, Judiciary, Armed Services, Commerce, Science and Transportation, Health, Education, Labor and Pensions, and Veterans Affairs committees. Cynthia, his wife, holds the majority of his wealth. They have invested in hedge funds, real estate, stock, and property partnerships. In 2011, he took a 30-year mortgage for his house, and it is the only listed liability he has.
7. Sen. Mitt Romney (R) ($85.3 million)
Before joining Senate (Utah) in 2019, he was the 2012 Republican candidate for the presidential race. Between 2003-2007, he served as the Governor of Massachusetts. He is among the only two people who managed to be a Senator and a governor for different states. During his short stay in the Senate, he has served in the Homeland Security and Governmental Affairs committees, Small Business and Entrepreneurship, Health, Education, Labor and Pensions, and Foreign Relations. His wealth is attributed to his investment consultancy firm, Bain & Company. He is renowned for pulling together political campaign funds. Up to 2019, it is reported that he had raised $610 million. Banks have investment firms that have joined hands to finance their campaign.
6. Sen. Mark Warner (D) ($93.5 million)
Warner was the Virginia Governor from 2002 to 2006 before joining the Senate in 2008, where he has served since then. Through his campaigns, he has managed to raise around $60 million. His main campaign financiers are Dominion Energy, JP Morgan Chase & Co., the Altria Group, and Norfolk Southern. He owns Columbia Capital and Capital Cellular Corporation, a telecom company. Since his election into the Senate, he has served on the committee on Library, Intelligence, Rules and Administration, Banking, Housing, and Urban Affairs, Budget, Finance, Printing, Commerce, Science & Transportation, and Joint Economic Affairs.
5. Sen Dianna Feinstein (D) ($96.5)
According to Ballotpedia, this calm but authoritative Democrat was first elected to the Senate in 1992. Her work in social services serving as a member of women's boards, and chairing the San Francisco's Advisory committee on Adult detention, has been one to reckon with. Since 1992, she has served on many committees- Intelligence, Judiciary, Appropriations, Rules, and Administration committees. She has served on more than ten subcommittees. According to her fillings, we learn that majority of her wealth is associated with her husband, Richard Blum. Mr. Blum is the chairman of Blum capital. Feinstein has over $1 million held in her account. Media organizations revealed that in 2021 she had violated the STOCK Act.
4. Rep. Vern Buchanan (R) ($13.4 million)
Vern Buchanan has been in Congress for nine years representing the great people of Florida's 16th Congressional District. His primary source of income is through the Aircraft Holding and Leasing business. He also runs a company called Speedy Printing which he founded in the 1970s. When making his wealth declarations, he listed a financial liability of $14 million which he acquired via an LLC to buy a plane and a yacht. He is known for serving on the Committee on Ways and Means and the Health and Trade committees, which he has served at different times. Of note is how he has demonstrated skills in the American Tax Policy formulation commanding admiration from colleagues on either side of the significant political divide.
3. Rep. Darrel Issa (R) ($115.8million)
Darren Issa joined Congress in 2000 and has been representing the the50th Congressional District of California. Directly from school, he joined the military. Issa established and served as the CEO of one of the country's security systems companies, Steal Stopper. While filling out his returns, he listed one liability-an account where it was supposed to pay $50 million and did not indicate whether he owns any stock. His success in the House of Representatives caught the attention of Donald Trump, who nominated him as the U.S. Trade & Development Agency head.
2. Rep. Michael McCaul (R) ($125.9 million)
Elected to Congress in 2004, he represents the 10th Congressional District of Texas. Before joining active politics, he served as the Chief of Counter Terrorism and National Security in the Western District of Texas. Most of his wealth is attributed to his partner, Linda McCaul, who owns a more significant chunk of her father's shares in iHeartRadio. Through political campaigns, he managed to raise more than $18 million. His most enormous contributions are from Deloitte LP, Dell Technologies, and iHeartMedia Inc. Together with his wife, they have invested heavily in Netflix and share funds.
1. Sen. Rick Scott (R) ($200.3 million)
According to Moneywise, Rick Scott is a Republican who was first elected Senator to the Senate in 2018. He first served in the Navy before investing in the healthcare industry. He co-founded both HCA Healthcare and Solantic. His company, HCA, was found guilty of committing 14 Medicare frauds and was fined $1.7 billion. Though he had a relatively short stay in politics, he raised more than $88 million as campaign funds. Some sources, such as Celebrity Net worth, argue that his total wealth may go up to $300 million because he did not disclose any liabilities or debt when he was running for office.
The above list of the 20 most affluent congress members of Congress has been compiled through comparative sources of information. More significant consideration has been given to what was their declaration when they joined the office, their business activities, and the campaign funds they have.
Written by Dana Hanson
Read more posts by Dana Hanson