50 Wealthiest Lawmakers List 2012
The Hill’s 50 Wealthiest Lawmakers list ranks the richest members of Congress. For the second year in a row, Texas Republican Representative Michael McCaul edges out Democratic Massachusetts Senator John Kerry as the wealthiest lawmaker in Washington. Although Republicans outnumber Democrats on The Hill’s 50 Wealthiest Lawmakers list, GOP vice presidential candidate Paul Ryan does not even come close to being ranked on the richest members of Congress list. According to The Hill, Wisconsin Representative Paul Ryan has a net worth of $2.2 million, a “modest sum” for any Congressional member from either side of the aisle.
Thirty-one of the 50 richest members of Congress come from the House of Representatives; the remaining 19 stem from the Senate. Rep. Michael McCaul had a reported minimum net worth of $290 million for 2011. McCaul jumped up $3 million from 2010. The Hill reports that the bulk of Rep. McCaul’s money comes from multiple family trusts. The Texas Republican representative’s father-in-law is the founder of Clear Channel Communications.
Senator John Kerry had a reported net worth of $198.8 million in 2011. The Hill also notes a significant portion of Kerry’s wealth comes from his wife Theresa Heinz’s ties to the Heinz Ketchup fortune. Kerry ranked at the top of The Hill’s Wealthiest Lawmakers list in both 2009 and 2010.
California Republican Representative Darrel Issa ranked as the third richest member of Congress. Issa reportedly has a net worth of at least $140.6 million. Earlier this year the House chairman paid off $75 million in loans.
Newcomers to the wealthiest lawmakers list include Democratic Representative from Maine, Chellie Pingree. The Maine Democratic representative ranked number 12 on the richest members of Congress list. Her reported minimum net worth was $31.8 million. Pingree’s wealth reportedly jumped from $500,000 in 2010, allegedly due in part to her marriage to successful hedge-fund manager Donald Sussman, according to The Hill’s Wealthiest Lawmakers list.