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Who are the richest members of Congress? Does Mitt Romney make the list?

Deseret News
Deseret News
 2022-09-06
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Sen. Mitt Romney, R-Utah, speaks during a South Valley Chamber of Commerce meeting at Salt Mine Productive in Sandy on Thursday, Aug. 18, 2022. Romney is among the richest members of Congress. | Kristin Murphy, Deseret News

Who are the richest members of Congress?

Well, that depends on which list you look at. Celebritynetworth.com and Business Insider have both recently compiled lists. The names at the top, including Utah Republican Sen. Mitt Romney, don’t change much, though the order and their estimated net worth varies, sometimes wildly.

U.S. House and Senate members earn $174,000 a year. But many of them amassed fortunes before being elected to office.

Here are the wealthiest current officeholders in Congress, according to celebritynetworth.com , which bills itself as the “website future billionaires read every day.”

  1. Rep. Darrell Issa, R-Calif.

Net worth: $460 million

Issa co-founded Directed Electronics, one of the largest makers of automobile car alarms in the United States. He also is a real estate investor.

2. Sen. Rick Scott, R-Fla.

Net worth: $300 million

Scott co-founded Columbia Hospital Association, which later merged with another company to form Columbia/HCA, which eventually became the nation’s largest private for-profit health care company. After leaving Columbia/HCA, he became a venture capitalist.

3. Sen. Mark Warner, D-Va.

Net worth: $300 million

As founder and managing director of Columbia Capital, Warner helped found or was an early investor in a number of technology companies, including Nextel.

4. Sen. Mitt Romney, R-Utah.

Net worth: $300 milion

Romney co-founded Bain Capital, a private equity and investment firm that became one of the largest of its kind in the nation.

5. Rep. Scott Peters, D-Calif.

Net worth: $200 million

Peters, who worked as an environmental lawyer, made his money in government securities and mutual funds.

Also on the celebritynetworth.com list are Rep. Michael McCaul, R-Texas ($120 million); House Speaker Nancy Pelosi, D-Calif. ($120 million); Sen. Dianne Feinstein, D-Calif. ($110 million); and Sen. Richard Blumenthal, D-Conn. ($85 million).

According to the website, its net worth estimates, at a minimum, take into account known salaries, real estate holdings, divorce records, royalties, lawsuits and endorsements. The estimates incorporate a proprietary formula that removes estimated taxes, manager’s fees, agent fees and lifestyle expenses.

Here’s the top five from Business Insider:

1. Sen. Rick Scott, R-Fla.

Net worth: $200 million.

2. Rep. Michael McCaul, R-Texas.

Net worth: $125 million.

3. Rep. Darrel Issa, R-Calif.

Net worth: $115 million.

4. Rep. Vern Buchanan, R-Fla.

Net worth: $113 million.

Buchanan’s wealth primarily comes from his ownership of several car dealerships, in addition to a limited liability company that was labeled as “Aircraft Holding & Leasing.” He also founded American Speedy Printing in the late 1970s.

5. Sen. Dianne Feinstein, D-Calif.

Net worth: $96 million.

The majority of Feinstein’s wealth is from her husband, Richard Blum, according to her financial filings. Blum is an investor and the president and chairman of Blum Capital, a private equity company.

Romney checks in at No. 7 on Business Insider’s list, with an estimated net worth of $85 million.

Business Insider compiled annual financial disclosures for 2020 that members of Congress are required to file, analyzing thousands of pages of documents to estimate their minimum and maximum net worth.

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