How Rich is Congress?

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How Rich is Congress?

Congressional wealth is reported annually, and even though they have access to the same investments as the American public, they are far wealthier. How does the wealth of House and Senate representatives compare to their constituents’ wealth?

Top 5 Most Wealthy

Michael McCaul (R-Texas)
Average Net Worth: $500,624,461
Outside Income: $0
Investments/Liabilities:
496 assets
Valued from $306,437,919 to $694,811,003
1 liability
Totalling: $500,001 to $1,000,000
Darrell Issa (R-California)
Average Net Worth: $480,325,019
Outside Income: $0
Investments/Liabilities:
42 assets
Valued from $315,550,042 to $845,100,001
2 liabilities
Totaling: $100,000,002 to $100,000,002
John Kerry (D-Massachusetts)
Average Net Worth: $235,976,804
Outside Income: $0
Investments/Liabilities
446 assets
Valued from $230,468,566 to $320,215,146
84 Liabilities
Totaling: $32,580,084 to $46,300,020
Mark Warner (D-Virginia)
Average Net Worth: $228,129,609
Outside Income: $0
Investments/Liabilities:
223 assets
Valued from $86,024,219 to $370,235,000
0 liabilities
Jared Polis (D-Colorado)
Average Net Worth: $214,946,679
Outside Income: $0
Investments/Liabilities:
322 assets
Valued from $94,065,361 to $349,328,000
3 liabilities
Totaling: $2,500,003 to $11,000,000

Top 5 Least Wealthy

Steve Fincher (R-Tennessee)
Average Net Worth: $-472,502
Outside Income: $33,943
Investments/Liabilities:
1 asset
Valued from $500,001 to $1,000,000
6 liabilities
Totaling $810,006 to $1,700,000
Ruben Hinojosa (D-Texas)
Average Net Worth: $-2,190,47
Outside Income: $0
Investments/Liabilities:
30 assets
Valued from $709,053 to $2,190,000
7 liabilities
Totaling $1,400,005 to $5,880,000
Tom Rice (R-South Carolina)
Average Net Worth: $-2,909,496
Outside Income: $35,277
Investments/Liabilities:
14 assets
Valued from: $4,616,014 to $15,415,000
7 liabilities
Totaling $4,600,007 to $21,250,000
Alcee L. Hastings (D-Florida)
Average Net Worth: $-4,732,002
Outside Income: $0
Investments/Liabilities:
1 asset
Valued from $1,001 to $15,000
7 liabilities
Totaling $2,230,007 to $7,600,000
David Valadao (R-California)
Average Net Worth: $-15,625,001
Outside Income: $85,820
Investments/Liabilities:
2 assets
Valued from $1,250,002 to $5,500,000
7 liabilities
Totaling $7,900,007 to $36,850,000

Most Popular Congressional Investments

General Electric®
Republican investors: 45
Minimum investment: $1,799,117
Democrat investors: 37
Minimum Investment: $1,250,949
Procter & Gamble®
Republican investors: 35
Minimum investment: $8,675,556
Democrat investors: 32
Minimum Investment: $937,006
Microsoft® Corporation
Republican investors: 33
Minimum investment: $1,262,882
Democrat investors: 31
Minimum Investment: $3,239,051
Bank of America®
Republican investors: 33
Minimum investment: $269,019
Democrat investors:
Minimum Investment: $1,840,199
Exxon Mobile®
Republican investors: 38
Minimum investment: $4,493,909
Democrat investors: 17
Minimum Investment: $1,878,452

Does Party Influence Wealth or Investment Decisions?

Wealth:
Three Democrats and two Republicans are on the wealthiest list.
Four Democrats and one Republican are on the least wealthy list.
Party affiliation has little bearing on overall wealth.
Investments:
Republicans tend to invest more in oil.
Democrats tend to invest more in technology and banking.
Party affiliation affects investment types, but not overall investments.

Median Constituent Salary

United States:
Median income: $50,502
Median Net Worth: $68,828
Texas:
Median income: $49,392
Median net worth: $59,431
California:
Median income: $57,287
Median net worth: $59,431
Massachusetts:
Median income: $62,859
Median net worth: $91,025
Virginia:
Median income: $61,882
Median net worth: $60,700
Colorado:
Median income: $55,387
Median net worth: $59,431
Tennessee:
Median income: $38,482
Median net worth: $60,700
South Carolina:
Median income: $38,482
Median net worth: $60,700

The average net worth of member of Congress is $913,000

How does your wealth compare?

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Sources:
http://opensecrets.org
http://www.census.gov/people/wealth/files/Wealth%20Highlights%202011.pdf
http://www.census.gov/prod/2012pubs/acsbr11-02.pdf
http://www.senate.gov/CRSReports/crs-publish.cfm?pid=’*2%404P%5C%5B%3A%22%40%20%20%0A