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The 50 Richest Members of CongressSeptember 22, 2008, 12:00 a.m. 22/09/08 "Roll Call"
-- - Everything that you are about to read might be wrong. Roll Call’s annual attempt to rank the riches of Members of Congress is
hampered by one fundamental flaw: It is based on the lawmakers’ financial
disclosure forms, which are extraordinarily unreliable sources of information. The disclosure rules allow Members to report assets in broad categories, so
there is no way to tell the difference between a $20 million investment and a
$5 million investment. The top category on the Members’ forms is “over $50
million,” so it is impossible to accurately account for anything worth more
than that — like a professional sports team, for example. There is also a
gaping loophole for assets owned by the Members’ spouse or dependent children;
anything worth more than $1 million in value can be reported as “over $1
million.” There is no way to tell whether that is $1.2 million or $1.2 billion.
The rules also don’t require reporting things of value that are not used to
produce income — most notably any primary residence or other home that is not
used for rentals. That loophole removes from most Members’ portfolios hundreds
of thousands of dollars and in come cases millions of dollars worth of assets.
Airplanes, fancy cars, antiques or other valuable items are not reported. In filing a detailed disclosure form on behalf of Sen. Bob Corker (R-Tenn.),
his accountants added this editorial note, which sums up the problem: The form
is meant to comply with Senate disclosure rules but “is not intended to be a
complete presentation of Senator Corker’s financial position.” Beyond all of these flaws, there remains the fact that many, many financial
disclosure forms filed by Members of Congress are simply inaccurate. A check
mark placed in the wrong box can inflate or deflate a Member’s apparent net
worth by millions of dollars, and misunderstandings of the rules have led
Members to understate some assets, overstate others and claim additional assets
they no longer own. Where the errors are obvious or have created noticeable discrepancies from
prior-year filings, Roll Call has attempted to contact the offices to get a
proper understanding of the actual value of the asset or assets in question. What remains below is a ranking of the 50 wealthiest Members of Congress
based on the minimum net worth reported on their financial disclosure forms. To
achieve these numbers, Roll Call totaled the assets listed on financial
disclosure forms filed in 2008 (covering calendar year 2007) using the lowest
number in the ranges in which Members are required to report. An asset from
$500,000 to $1 million is counted as being worth $500,000, unless the Member
has provided a brokerage statement or other documentation that offers more
specific detail. Liabilities, which are also reported in ranges, are calculated based on the
minimum value, and are subtracted from total minimum assets to establish total
net worth. Assets that are not included on the forms but have values that have been
established by Roll Call or other publications are not included for the purposes
of assembling this ranking, because the Members are not required to report
these numbers. This ranking is based only on what is reported on the annual
disclosure forms. 1. Sen. John Kerry (D-Mass.) The Massachusetts Senator claims the mantel of richest Member in the 110th
Congress. Kerry’s actual holdings, however — including those of wife Teresa
Heinz Kerry, widow to ketchup heir Sen. John Heinz (R-Pa.) — are likely much
greater. In an April 2008 article, Forbes.com estimated Heinz Kerry’s net worth at $1
billion. Kerry’s disclosure forms list the value of more than 180 assets — including
Heinz family trusts and investment funds — only as “over $1 million,” rather
than the more specific ranges including $1 million to $5 million. Senators are
allowed to list assets in the “over $1 million” category only if the items are
held independently by a spouse or dependent child. 2. Rep. Jane Harman (D-Calif.) The wealthy Californian, who remains heavily invested in Harman International
Industries, has seen her wealth increase nearly $10 million since filing her
2006 report. Harman’s report lists three accounts, including one held solely by her
husband, totaling a combined minimum of $125 million in stock and options in
the company. Harman’s spouse founded the company, which manufactures
electronics under the brand names AKG Acoustics, Harman Kardon, Infinity and
JBL, among others. In addition, Harman, who has no outstanding debts, lists a trust fund worth
$1.8 million and an additional $2 million in multiple hedge fund accounts. The Issa, founder of the His portfolio also comprises numerous investment funds, including a dozen
valued at a minimum of $5 million each. 4. Sen. Jay Rockefeller (D-W.Va.) A descendant of oil tycoon John D. Rockefeller, the West Virginian’s vast assets
remained stable in 2007, as his net worth increased by a little more than 1
percent. Rockefeller’s fortunes are stored primarily in three blind trusts with
JPMorgan Chase & Co., Wachovia Corp. and United National Bank, valued at
more than $50 million, $25 million to $50 million, and $5 million to $25
million, respectively. Another family trust is listed at simply “over $1 million.” The Senator lists at least $5.5 million in debt on two loans, down from $6.5
million in 2006, when he listed an additional $1 million loan from United
National Bank in 5. Rep. Robin Hayes (R-N.C.) The Tar Heel State lawmaker’s wealth more than doubled since 2006, when he
identified about $36 million in assets. According to Hayes’ office, the increase, including more than $36 million in
new trust funds, is the result of an inheritance. Hayes’ mother passed away in
2007. Among the holdings in Hayes’ numerous trust funds are a mix of stocks and
bonds, as well as properties including land in The funds include at least $1 million in stock in corporations such as Exxon
Mobil, Royal Dutch Shell, Merck, Pfizer, General Electric and Altria, the parent
company of Philip Morris USA. The North Carolinian also lists a commercial loan of at least $1 million to
finance his private airplane. 6. Rep. Vern Buchanan (R-Fla.) Buchanan, the owner of several car dealerships, watched his wealth dip
slightly in the past year, dropping $1.74 million, or more than 2 percent below
his 2006 total. While the Florida lawmaker’s empire — comprising several automobile
dealerships, an aircraft charter business, real estate holdings and investment
accounts — amounts to $102.34 million, it carries with it nearly $37 million in
debt. Included in that figure are new purchases in 2007: a King Air 350 aircraft
and a Learjet, both listed as debts valued at $5 million to $25 million from
SunTrust Leasing of He also lists an Embraer Legacy from the same creditor for $5 million to $25
million. 7. Sen. Frank Lautenberg (D-N.J.) Lautenberg, who made millions from the payroll processing company he created
five decades ago, reported that his total minimum assets jumped about 24
percent, from $45 million in 2006, but that number is still not very revealing.
Lautenberg’s two biggest assets are two blind trusts that he set up for
himself, each worth $5 million to $25 million. Together they count for $10
million of his assets for this list, though they could be worth five times that
amount. The major increase over last year appears to be in his wife’s assets. She
has several family trusts in her name, mostly holding real estate, and between 2006
and 2007 she received additional assets from her mother, Lautenberg’s office
said. So in 2006, Lautenberg reported that through an entity called LCBS Corp. his
wife held “over $1 million” of Mira Loma Associates, a company holding
residential real estate in Riverside, Calif. In 2007, Mira Loma was listed
twice at “over $1 million” — once as part of LCBS and once as a separate asset
in Bonnie Englebardt Lautenberg’s name. Several of her family trusts also
purchased real estate and other assets worth more than $5 million in 2007. 8. Sen. Dianne Feinstein (D-Calif.) Together with her husband, financier Richard Blum, Feinstein claims a
diversified portfolio that grew by $1.8 million, or an increase of just under 4
percent, since 2006. The Californian lists assets with her husband that include ownership of all
or part of numerous limited partnerships. Among those, the Blum Family Partners, owned entirely by Blum, claims “over
$1 million” in stock in RAE Systems, a manufacturer of chemical and radiation
detection equipment. The fund also includes “over $1 million” in a real estate
investment trust. In addition, Feinstein lists a $5 million to $25 million investment in
Carlton Hotel Properties in Feinstein also lists at least $2 million in debt to Bank of America for two
loans made to Blum Capital Partners. 9. Sen. Edward Kennedy (D-Mass.) Much of Kennedy’s wealth stems from family trusts, and the Massachusetts
Senator reported almost no change in 2007, with an increase of less than 1
percent. Kennedy lists one family trust valued from $25 million to $50 million, as
well as four trusts worth at least $5 million each and a blind trust totaling
at least $1 million. The Kennedy lists $1 million in mortgage debt from Northern Trust Co. for his
Hyannisport property. 10. Sen. Gordon Smith (R-Ore.) If you take financial disclosure forms seriously (never a good idea), you
might be led to believe that Smith’s net worth tripled last year. His 2006
financial disclosure form disclosed net assets of about $8.5 million. But Smith’s worth is largely derived from Smith Food Sales, a purveyor of
frozen vegetables. In 2006 he listed that asset as being worth $5 million to
$25 million. In 2007, the value has jumped to the next category, $25 million to
$50 million, so even if the value of the asset rose from just under to just
more than $25 million, the effect on the disclosure form is to add $20 million
to Smith’s minimum net worth. Since Smith doesn’t have to report the assets of
the corporation, his actual net worth may be far above what is reported on the
Congressional form. 11. Rep. Michael McCaul (R-Texas) The According to his disclosures, Maychild Ltd. increased in value to at least
$5 million, adding $4 million to his minimum net worth under Roll Call’s
evaluation method. In 2006, McCaul listed the real estate partnership, which
owns a mix of commercial and residential properties, in the $1 million to $5
million range. Together with his wife and family, McCaul also invests at least $12.1
million in Clear Channel Communications, the company founded by his
father-in-law, Lowry Mays. The McCauls also list nearly $1 million invested in
Live Nation, a Clear Channel spinoff. The Texan lists no debts. 12. Rep. Rodney Frelinghuysen (R-N.J.) The Frelinghuysen’s assets comprise more than $15 million from several family
trusts invested primarily in stocks. He lists an investment of at least $1 million in Procter & Gamble Co.,
and one family trust lists an additional $5 million to $25 million invested in
the same company. Frelinghuysen’s holdings in Johnson & Johnson decreased in minimal value
by half in 2007, dropping to $500,000 from $1 million last year. The lawmaker’s investments also include 18 acres in Frelinghuysen Township,
N.J., valued at a minimum of $250,000, and a stake in 236 acres in Stockbridge,
Mass., worth at least $100,000. 13. Sen. John McCain (R-Ariz.) McCain’s true value is impossible to estimate because most of the major
assets are listed in the name of his wife or children, thereby requiring far
less detailed disclosure. Other news outlets have suggested that Cindy McCain’s
net worth may exceed $100 million, but there is no documentation to prove that
figure. McCain’s disclosure form lists 12 items with values of “over $1 million”
that are owned by his wife and children. In 2007, the family liquidated a trust
set up by Cindy McCain’s late mother that had a reported value in 2006 of more
than $2.5 million. The proceeds were then distributed to three other trusts,
which show a minimum value of $1.4 million. Cindy McCain also liquidated a
blind trust in 2007, selling millions of dollars worth of stock, and the
reported value of the stock she owns through Hensley & Co. — her family’s
beer distributorship — dropped more than $4 million in value last year. The only assets McCain claims as his own are a checking account with a
balance of $15,000 to $50,000, a money market fund worth less than $15,000 and
several book deals. 14. Sen. Claire McCaskill (D-Mo.) McCaskill watched her net worth grow in 2007, increasing more than 24
percent over her estimated $15.66 million total in 2006. Among McCaskill’s major assets: approximately 270 limited partnerships in
affordable housing real estate and a handful of “enterprise trust investment
funds” held by her husband that showed a combined increase of approximately
$2.7 million in value from last year. Her spouse purchased a The Senator’s husband also identified a loan of at least $1 million, the
only liability listed by the couple, from Enterprise Bank. 15. Sen. Bob Corker (R-Tenn.) In 2006, Corker sold off several commercial properties, thereby eliminating
more than $20 million in mortgages that had counted as liabilities against his
assets. With those liabilities out of the way, Corker’s minimum net worth jumps
from about $1.5 million on his 2006 report to more than $19 million on his 2007
report. One of the liabilities remaining is attributed to Corker’s “dependent
child”: a loan from the Senator valued at more than $1 million, payable at 5.05
percent interest. In 2007, according to an explanatory note attached to his disclosure form,
Corker also divested himself of hundreds of thousands of dollars worth of
publicly traded stock in order to avoid any appearance of conflicts of
interest. He consolidated his investments in several funds that are widely
diversified and therefore do not have to report their underlying holdings. When
one of the funds could not meet the Ethics Committee’s requirements for an “exempt”
fund, Corker withdrew from the investment. 16. Rep. Carolyn Maloney (D-N.Y.) The The jump results from growth in her portion of a real estate development
company, which moved up from the $1 million minimum category to the $5 million
minimum category, effectively adding $4 million to Maloney’s bottom line. Maloney listed a value of at least $5 million for Bosher Family, a partner
of the real estate development company HPB Enterprises. She also lists a separate $1 million entry for HPB Enterprises in The Democrat also owns a “rental property and residence” in New York valued
at $5 million to $25 million, a rental property in New Canaan, Conn., ($1
million to $5 million) and a Washington, D.C., house ($1 million to $5
million). Maloney also has about $2 million in mortgage debts and real estate loans on
those properties and an 17. Rep. Nancy Pelosi (D-Calif.) The Californian’s net worth rose nearly 16 percent in 2007, adding $2.5
million to her personal wealth. Among her assets, Pelosi lists a Norden, In addition, her husband owns a commercial property in The couple also owns a vineyard in The Speaker’s husband also increased tenfold his holdings in Apple Computer
Inc. stock to at least $5 million, up from a minimum of $500,000 in 2006. Pelosi and her husband also owe mortgage debt on several of their
properties, including the vineyard, totaling at least $8.75 million. Other debts listed by Pelosi include lines of credit totaling at least $3.5
million. 18. Rep. Nita Lowey (D-N.Y.) The largest asset on Lowey’s disclosure form is an account in her husband’s
name with the investment firm Ingalls & Snyder listed with a value of $5
million to $25 million. In 2006, Lowey listed the same asset with a value of $1
million to $5 million. Her husband has several other investment accounts worth a minimum of $1
million each, as well as at least $1 million in a profit- sharing plan from his
law firm, Lowey Dannenberg Bemporad & Selinger (which has since been
renamed). The couple also list joint investment accounts at Glickenhaus &
Co. and Fidelity worth from $1 million to $5 million each. 19. Sen. Elizabeth Dole (R-N.C.) The North Carolinian and her husband, former Sen. Bob Dole (R-Kan.), saw a
modest rise in their wealth, increasing a little more than 2 percent since
2006. The Doles’ assets include the only liability listed by the couple multiple
checking and money market accounts worth at least $1.12 million, including one
account held by Bob Dole valued at “over $1 million.” The former Senator also claims a stake in five investment funds, worth a
combined minimum of nearly $5 million. He also lists multiple promissory notes
from the Robert J. Dole Irrevocable Trust, including two worth “over $1
million.” Elizabeth Dole also lists about 119 acres of land in 20. Sen. Olympia Snowe (R-Maine) Snowe’s net worth is largely tied to her husband’s position as chairman of
the board of Education Management Corp., a Pittsburgh-based education company.
Snowe lists her husband’s stock in Education Management as an asset worth $5
million to $25 million. In last year’s disclosure form, that asset was valued
at $1 million to $5 million. He also holds stock options worth $1 million to $5 million. The couple
jointly holds mutual funds shares worth more than $2 million. 21. Rep. Tom Petri (R-Wis.) The Petri’s major investments include stock in both U.S. Bank and Walgreens Co.,
each valued at $5 million to $25 million. He also claims at least $1 million in stock for both Berkshire Hathaway and
British insurance exchange Lloyds of London. The latter has doubled in minimum
value since 2006, when Petri listed the asset as worth at least $500,000. Petri’s only debt is a loan issued by Merrill Lynch, valued at $1 million to
$5 million. 22. Rep. Gary Miller (R-Calif.) Having disposed of several debts, Miller’s net worth has rocketed more than
39 percent, or about $4 million, in his most recent report. The Californian no longer lists debts of at least $1 million each for the
Fontana Library Co. and the Upland, Calif.-based Church Haven Co., which he
listed last year. Miller’s assets include an account with Pomona Bank and Trust 1st Federal
worth $5 million to $25 million and 382 acres in He also added a new investment worth $1 million to $5 million in PFF
Bancorp, the parent company of Rancho Cucamonga-based PFF Bank and Trust. 23. Sen. Lamar Alexander (R-Tenn.) The Tennessee Senator’s largest asset is his stock in Processed Foods Corp.,
a Knoxville-based company where Alexander served on the board prior to his
election to the Senate in 2002. He holds $5 million to $25 million worth of the
company’s stock, and his wife holds “over $1 million” as well. The family’s other major assets are land and real estate, in particular a
patch in Nantucket, Mass., that is worth $1 million to $5 million for Alexander
and “over $1 million” for his wife. He incurred several new debts in 2007, taking out four loans totaling at
least $560,000. 24. Rep. John Campbell (R-Calif.) Kids. You pour your heart into them, and they grow up, leave and take all
your money. Or something like that. However, he still owns more than $6 million worth of 25. Rep. Jim Sensenbrenner (R-Wis.) Sensenbrenner, who submits one of the lengthiest financial disclosures each
year by providing his regular report along with a detailed accounting of his
net worth, saw his tally drop by about 3 percent from the previous year. Much of the He also owns an Sensenbrenner has also listed $7,800 in travelers checks for the past two
years. 26. Rep. Denny Rehberg (R-Mont.) Rehberg increased his net worth by 5 percent in 2007 as the value of his
wife’s The Montanan’s office said Rehberg’s spouse reincorporated the property in
preparation to sell it, revising the property value to at least $1 million. The
Rehbergs did not ultimately sell the parcel. Rehberg’s assets also include at least $10 million in ranching and livestock
operations and $1 million in Rehberg Ranch Marketing Inc. He also lists $1.3 million in loan debt for development, construction and
agriculture. 27. Sen. Tom Harkin (D-Iowa) According to Harkin’s financial disclosure forms, his minimum net worth has
essentially doubled since 2006 because of his wife’s purchase of about $5
million worth of stock in 2007. Harkin’s office wouldn’t comment on where the money for the purchases came
from, but the disclosure form indicates that his wife, Ruth, bought and sold
“over $1 million” worth of stock in United Technologies Corp., where she used
to be a vice president. Harkin’s forms have previously stated that his wife’s
compensation from UTC included a “contractual right to receive stock in the
future,” so it is possible that she took stock that was owed to her and
converted it to other securities. The assets that are listed as belonging to the Senator alone or through
joint ownership have a minimum value of less than $100,000. The Harkins list no
liabilities. 28. Rep. Kenny Marchant (R-Texas) In 2007, Marchant exchanged several ranch properties for a partnership
interest in Marchant’s other major assets are rolled into a family partnership called
Marken Interests Ltd. The partnership holds 73 acres in Marchant also lists more than $3 million in liabilities, but several of
those items are mortgages that appear to have been paid off or assumed by
Bonita, which would suggest that his net worth has already risen over the total
reported on his latest financial disclosure form. 29. Sen. Hillary Rodham Clinton (D-N.Y.) In 2006, in preparation for her White House bid, In 2007, her primary assets were two Citibank deposit accounts, each worth
$5 million to $25 million, one of which is new. While the disclosure form she
prepared for the presidential race indicated a minimum net worth of about $17
million and her current disclosure only tallies about $10 million, the wide
ranges reported for the family’s cash accounts could easily accommodate
millions more in assets than she gets credit for in this tally. Beyond the two giant bank accounts, the family’s biggest asset appears to be
Bill Clinton, who earned more than $10 million giving speeches in 2007. 30. Sen. Richard Shelby (R-Ala.) The Alabaman’s fortunes diminished nearly 6.5 percent in 2007, a drop of
about $600,000. The couple transferred a 49 percent stake in a The Senator lists $1 million in mortgage debt on the apartment building, as
well as a personal note issued by Regions Bank for $250,000 to $500,000. 31. Rep. Steve Pearce (R-N.M.) After the sale of his oil services company in 2003, several other companies
Pearce founded have continued to grow. Last year, LFT, which takes its name
from Lea Fishing Tools, the company Pearce sold, rose from $500,000 to $1
million to $1 million to $5 million, and Pearce also bought investment land in Roll Call reported in April that Pearce apparently sold his company for
about $12 million, but because the assets are held in a corporate account, he
does not have to list the total amount among his assets or income. 32. Rep. Lloyd Doggett (D-Texas) Since Members of Congress are required to report only properties that are
producing income, it is not uncommon to see assets hop on or off Members’
disclosure forms from year to year when they start or stop renting them.
Doggett appears to be a case in point: An Austin, Texas, property that was not
reported in 2006 appears on his 2007 form with a value of $100,000 to $250,000,
producing $5,000 to $15,000 in income. There is no reported transaction, which
suggests that Doggett already owned it but began renting the “garage apt” last
year. His other holdings, which showed a solid increase over the prior year,
include investments of at least $500,000 in several Vanguard investment funds,
as well as Whole Foods Market Inc. 33. Sen. Johnny Isakson (R-Ga.) The Georgia Senator paid off a small home mortgage while adding a new Isakson reports a stable fortune, increasing his net worth less than 2
percent over his 2006 values. His only debt is a $15,000 to $50,000 equity loan from Wachovia Bank. Isakson also reported the purchase of a condo for $250,000 to $500,000. The lawmaker’s assets include a mix of real estate and stocks, including
Synovus, a financial services company. Isakson lists an investment of $1
million to $5 million in the company. Among his real estate holdings are 12 acres in 34. Sen. Bob Bennett (R-Utah) Bennett’s fortune remained the same from 2006, with at least $5 million of
his assets tied to Watermark Corp., a company that owns lodging properties in While Bennett, who once owned all of Watermark Corp, now claims only a
one-third stake, he acknowledges in his disclosure form that he maintains full
rights to the company’s assets because he remains a guarantor on mortgages for
company properties. Those mortgage debts, for two Anniversary Inns located in 35. Rep. Heath Shuler (D-N.C.) It was a good financial year for the one-time NFL quarterback, who added a
more than 20 percent increase, about $1.3 million, to his net worth. Shuler’s investment in River Crest Development, a Del Rio, Tenn.-based real
estate development firm, jumped to a minimum value of $1 million, doubling from
its $500,000 minimum rating last year. The North Carolinian also added to his portfolio the River at Shining Rock,
a Haywood County, N.C.-based real estate development company, valued at $1
million to $5 million. His real estate holdings also include the Cove at Blackberry Ridge, valued
at a minimum of $5 million, and a stake in a Shuler carries $1 million in mortgage debt on rental property, as well as an
additional $500,000 in business loans and a $50,000 consumer line of credit
from United Community Bank in 36. Rep. John Spratt (D-S.C.) Spratt’s minimum net worth soared in 2007 as the value of an 800-acre swath
of pasture land in The increase over its previous minimum $1 million listing swells the
Democrat’s fortunes by $4 million, the largest factor in his 141 percent
increase. Spratt’s other assets include investments in Bank of America Corp. valued at
$500,000 to $1 million and York Bancshares at $1 million to $5 million. His real estate holdings include a D.C. rental unit and properties in Spratt carries $480,000 in debt, a combination of mortgage debt, credit
cards and promissory notes. 37. Rep. Bill Foster (D-Ill.) Foster, who won the special election to replace former Speaker Dennis
Hastert (R), has almost all of his assets tied up in the theater lighting
company he founded with his brother in 1975, Electronic Theatre Controls.
Foster reports holding $5 million to $25 million in a promissory note “for
payments over time arising from sale of interest” in the company, but also a $1
million to $5 million ownership interest in the company “that owns the factory
building used by ETC Inc.” He also has more than $1 million in savings, checking and money market
accounts. Foster reports no liabilities. 38. Rep. Steve Kagen (D-Wis.) The He lists no debts. 39. Rep. Fred Upton (R-Mich.) Together with his wife, the The couple also lists $5 million to $25 million in family trusts and an
additional $1 million in an investment account. 40. Rep. David Dreier (R-Calif.) Dreier’s wealth remains relatively unchanged at just over $7 million,
decreasing less than 1 percent from his estimated 2006 net worth. The California Republican’s primary asset, valued at $5 million to $25
million, is an interest in Tiffany Manor Apartments, a complex in He also has $500,000 to $1 million invested in the Oklahoma Publishing Co.,
which produces both the Oklahoman newspaper and its Web site, NewsOK.com. Dreier, who lists no debts, also has investments worth at least $250,000 in
both Viacom and Gaylord Entertainment, which owns resorts in 41. Sen. Ben Nelson (D-Neb.) Nelson holds an unusual investment portfolio that is made up almost entirely
of certificates of deposit, municipal bonds and treasury notes. As such, his
net reportable worth did not grow much over the past year, but his report also
doesn’t indicate significant investment losses. Nelson does report “residential acreages held for resale” in 42. Rep. Tom Price (R-Ga.) The Much of that growth is the result of an increase in the value of a Minnesota
Life annuities fund that Price lists in the $1 million to $5 million category.
In 2006, he listed the annuities at a base value of $500,000. Price also lists partial ownership for at least $600,000 worth of real
estate in The Republican and his spouse also have multiple retirement and investment
accounts valued at at least $4 million. 43. Sen. Jeff Bingaman (D-N.M.) Bingaman is something of a media mogul, having much of his worth invested in
partnerships that hold stock in broadcast, print media and digital
communications, among other things. Bingaman’s net worth appears to have dropped by almost 20 percent from 2006
to 2007, as his wife sold off $2 million worth of stock from a Goldman Sachs
investment account. The couple also put up nearly $400,000 in “capital calls”
for various investments. 44. Rep. Rosa DeLauro (D-Conn.) DeLauro remains financially steady, reporting an identical figure for her
net worth two years in a row. The Connecticut Democrat’s wealth comes primarily from the stake her
husband, pollster Stan Greenberg, holds in Greenberg Quinlan Rosner Research,
valued at $5 million to $25 million. DeLauro’s only debt is a loan from Chase Auto in 45. Sen. John Warner (R-Va.) The retiring Senator has assets scattered across a handful of brokerage
accounts, none of which by itself is worth more than $1 million. Last year he
added two real estate investments — Under the Missouri Sky Properties and
Golden Dome partners — worth nearly $300,000. Warner reports no liabilities. 46. Rep. Jackie Speier (D-Calif.) Speier, a newcomer to Congress, owns four Her disclosure form lists no liabilities. 47. Rep. John Linder (R-Ga.) In August 2007, Linder sold his holdings in Grayling Industries, a His financial disclosure form shows two new Schwab money market accounts,
one in his name and one in his wife’s, both listed as having a value of $1
million to $5 million. The couple also have two other IRA funds listed in the
same category. Linder’s wife also owns three companies holding 48. Rep. Randy Neugebauer (R-Texas) A developer before he came to Congress, Neugebauer remains active in land
and real estate dealings. According to his disclosure forms, in 2007 he sold
properties valued at a minimum of $180,000 and bought properties worth at least
$317,000, and he holds a passel of other properties, including a D.C. town
house. He also bought $1 million to $5 million in 49. Sen. Herb Kohl (D-Wis.) Though he is among the wealthiest Members of Congress, Kohl’s financial
disclosure fails to do him justice under Roll Call’s methodology. The owner of the Milwaukee Bucks, Kohl values the NBA team at more than $50
million, the highest category available on the forms. But according to Forbes,
the team’s estimated value in 2007 was $264 million. Using that figure would put Kohl’s net worth at about $219 million, but his
liabilities cancel out most of his assets. The The Senator also lists a blind trust valued at more than $50 million. 50. Rep. Rahm Emanuel (D-Ill.) Emanuel’s blind trust appears to have lost a few hundred thousand dollars in
value over the past year, resulting in a disclosure report that falsely
indicates he lost almost half his personal wealth. In 2006, he listed the blind trust at $5 million to $25 million; last year
it was listed as from $1 million to $5 million. In a separate filing with the
ethics committee, Emanuel reported that as of June 30, the value of the trust
was $4.1 million. If that number were reported on his disclosure form, it would
raise his minimum wealth to about $8 million. 2008
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