This article needs to be updated.(January 2021) |
This list of members of the United States Congress by wealth includes the fifty richest members of Congress as of 2018. It displays the net worth (the difference between assets and liabilities) for the member and their immediate family, such as a spouse or dependent children. These figures offer only an estimation of wealth, as the Congressional financial disclosure rules use value ranges instead of exact amounts. [1] As an upper range is not specified for values over $50 million (or over $1 million for a spouse), large assets are not represented accurately. Additionally, government salaries and personal residences are not typically included in disclosures. [2] Furthermore, several members of Congress do not use a standardized electronic format, instead filing reports that range from vague to indecipherable. [3] As of 2020, over half of the members of Congress were millionaires and the median net worth of members was approximately $1 million. [4]
The original documents for each member's disclosure are publicly available on a database website, maintained by OpenSecrets. [5]
Since 2009, the salaries per annum of members of the United States Congress have been as follows: [6]
Position | Salary |
---|---|
Speaker of the House of Representatives | $223,500 |
Majority leader and minority leader of the House of Representatives | $193,400 |
President pro tempore of the Senate | $193,400 |
Senators and representatives | $174,000 |
Non-voting members of the United States House of Representatives | $174,000 |
As of 2019 and 2018, the top 50 wealthiest members of the United States Congress were as follows:
Rank | Name | Party | State | Chamber | Serving in the 118th Congress? | Net worth ($ million) |
---|---|---|---|---|---|---|
1 | Kevin Hern | Republican | Oklahoma | House | Yes | 361.0* |
2 | Rick Scott | Republican | Florida | Senate | Yes | 259.7 |
3 | Mark Warner | Democratic | Virginia | Senate | Yes | 214.1 |
4 | Greg Gianforte | Republican | Montana | House | No | 189.3 |
5 | Paul Mitchell | Republican | Michigan | House | No | 179.6 |
6 | Mitt Romney | Republican | Utah | Senate | Yes | 174.5 |
7 | Vernon Buchanan | Republican | Florida | House | Yes | 157.2 |
8 | Mike Braun | Republican | Indiana | Senate | Yes | 136.8 |
9 | Don Beyer | Democratic | Virginia | House | Yes | 124.9 |
10 | Dean Phillips | Democratic | Minnesota | House | Yes | 123.8 |
11 | Nancy Pelosi | Democratic | California | House | Yes | 114.7 |
12 | John Hoeven | Republican | North Dakota | Senate | Yes | 93.4 |
13 | Suzan DelBene | Democratic | Washington | House | Yes | 79.4 |
14 | Fred Upton | Republican | Michigan | House | No | 79.0 |
15 | Ron Johnson | Republican | Wisconsin | Senate | Yes | 78.5 |
16 | Roger Williams | Republican | Texas | House | Yes | 67.0 |
17 | Buddy Carter | Republican | Georgia | House | Yes | 66.5 |
18 | Jim Risch | Republican | Idaho | Senate | Yes | 41.8 |
19 | Mitch McConnell | Republican | Kentucky | Senate | Yes | 34.1 |
20 | Steve Daines | Republican | Montana | Senate | Yes | 32.9 |
21 | Scott Peters | Democratic | California | House | Yes | 60.5* |
22 | Rick W. Allen | Republican | Georgia | House | Yes | 52.1* |
23 | Joe Kennedy III | Democratic | Massachusetts | House | No | 46.5* |
24 | Ralph Norman | Republican | South Carolina | House | Yes | 43.4* |
25 | Kenny Marchant | Republican | Texas | House | No | 33.7* |
26 | Lloyd Doggett | Democratic | Texas | House | Yes | 29.7* |
27 | Brad Schneider | Democratic | Illinois | House | Yes | 27.2* |
28 | Nita Lowey | Democratic | New York | House | No | 24.8* |
29 | Jim Sensenbrenner | Republican | Wisconsin | House | No | 21.8* |
30 | Phil Roe | Republican | Tennessee | House | No | 20.2* |
31 | Richard Shelby | Republican | Alabama | Senate | No | 19.1* |
32 | John Yarmuth | Democratic | Kentucky | House | No | 17.1* |
33 | Jim Cooper | Democratic | Tennessee | House | No | 16.3* |
34 | Michael Bennet | Democratic | Colorado | Senate | Yes | 15.7* |
36 | Tom Rice | Republican | South Carolina | House | No | 14.6* |
37 | Bill Foster | Democratic | Illinois | House | Yes | 14.1* |
38 | Dan Newhouse | Republican | Washington | House | Yes | 13.8* |
39 | Carolyn Maloney | Democratic | New York | House | No | 13.0* |
40 | Earl Blumenauer | Democratic | Oregon | House | Yes | 12.6* |
41 | Mike Kelly | Republican | Pennsylvania | House | Yes | 12.4* |
42 | Mike Conaway | Republican | Texas | House | No | 12.4* |
43 | Ralph Abraham | Republican | Louisiana | House | No | 12.4* |
44 | Markwayne Mullin | Republican | Oklahoma | Senate [lower-alpha 1] | Yes | 11.4* |
45 | Ann Wagner | Republican | Missouri | House | Yes | 11.1* |
46 | Jackie Speier | Democratic | California | House | No | 11.0* |
47 | Thom Tillis | Republican | North Carolina | Senate | Yes | 11.0* |
48 | Rob Portman | Republican | Ohio | Senate | No | 10.8* |
49 | Lisa Blunt Rochester | Democratic | Delaware | House | Yes | 10.7* |
*based on 2018 information [5]
Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word weal, which is from an Indo-European word stem. The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics, yet the meaning of wealth is context-dependent. A person possessing a substantial net worth is known as wealthy. Net worth is defined as the current value of one's assets less liabilities.
Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.
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