While it is impossible to say that all members of Congress are worth seven figures, the vast majority are multi-millionaires. The Senate and House of Representatives each earn $174,000 annually in salary. Many have lucrative investments in businesses through stocks and index funds, or their own. However, many of them have made millions in the private industry before they get into government.
A total of $1.3 billion is the combined wealth of the 15 richest members in Congress. Who has the Senate and House with the highest net worth?
These are the richest members of Congress
Sen. Rick Scott, Florida, Republican — $200,327,223
With a net worth of more than $200 million, Rick Scott is the richest member of Congress. Scott is the wealthiest member of Congress for several reasons. First, Scott doesn’t have any liability to report. Although it is possible that he may have someforms of debt like a mortgage or other forms of debt, he has not publicly reported any such liabilities. He is a large investor with holdings in stocks and bonds, equity funds and LLCs as well as gold and treasury. He has also invested in various technology companies and healthcare companies, both of which have strong growth potential. Scott co-founded two companies in healthcare: Columbia Hospital Corporation, which changed its name to HCA Healthcare, and Solantic.
Rep. Michael McCaul, Texas, Republican — $125,880,292
Michael McCaul doesn’t disclose any liabilities or debts. However, a large part of his wealth is derived from his wife. Linda Mays McCaul, the daughter of Lowry Mays (one of the founders of iHeartRadio), is Linda Mays McCaul. In Q3 2021, the company’s revenue was $928 million. This is a 25% increase YoY. McCaul is also a huge fan of Netflix. His family has invested more than $250,000 in Netflix stock.
Rep. Darrell Issa, California, Republican — $115,850,012
Darrell Issa was only elected to his current district (California’s 50th congressional district), in 2021. However, he became a member of Congress in 2001. After Donald Trump appointed him as the U.S. Trade and Development Agency’s head, he returned to Congress last year. Issa and Kathy Stanton, his second wife, sold their cars and borrowed $50,000 from their friends to buy Quantum Enterprises. This electronics manufacturer developed consumer products for other businesses. Issa took control of Steal Stopper, a car alarm company, and significantly increased its revenues. Directed Electronics is a company that makes theft deterrents. He is also the CEO of Greene Properties which is a real-estate investment company with holdings in San Diego North County. Issa’s networth is affected by his margin account. He is liable for more that $50 million.
Rep. Vern Buchanan, Florida, Republican — $113,384,088
Vern Buchanan has reported ownership interests in about 50 businesses. His most successful include a series of car dealerships and American Speedy Printing, a printing company that expanded to more than 730 stores across 44 states. Buchanan also has an LLC, Aircraft Holding & Leasing, which is worth up to $50 million. Among his liabilities are a plane and a yacht; in total, he’s liable for $14 million.
Sen. Dianne Feinstein, California, Democrat — $96,518,036
A large portion of Dianne Feinstein’s wealth comes from her husband. Richard Blum serves as president and chairman of private equity company Blum Capital. Feinstein has at least $1 million in one account, while another blind trust holds at least $25 million. Feinstein was also one of 52 members of Congress that violated the STOCK Act when she was late in disclosing a five-figure payment her husband made to a polling company directed at young people.
Sen. Mark Warner, Virginia, Democrat — $93,534,098
Before joining the Senate, Mark Warner served as governor of Virginia. He’s also the vice-chair of the Senate Democratic Caucus and chair of the Senate Intelligence Committee. Prior to his time in government, Warner ran Columbia Capital, a venture-capital firm, and telecom company Capital Cellular Corporation, both of which contributed to his wealth, alongside mutual funds, hedge funds, and private-equity funds.
Sen. Mitt Romney, Utah, Republican — $85,269,083
You may be more familiar with Mitt Romney from his 2012 presidential campaign, where he ultimately lost to Barack Obama. The Senator was also Massachusetts’s governor from 2003 to 2007. Though he attended law school and passed the Michigan bar exam, Romney chose a career in business. It was a good move, as he eventually joined Bain & Company. The management consulting firm made him vice president the year after he joined, and a few years later, Romney started private equity firm Bain Capital. He largely invested in deals brought forth by other partners, rather than identifying them himself, but negotiated a nice profit-sharing agreement when he left in 2002—the company still pays him millions of dollars every year. Romney also reported $4.5 million in “capital commitment” liabilities from his wife.
Sen. Richard Blumenthal, Connecticut, Democrat — $85,231,232
Richard Blumenthal owes much of his wealth to his family. His father is the chairman of Malkin Holdings and the chairman emeritus of Empire State Realty Trust, which leases office and retail space across Manhattan. Meanwhile, his wife, Cynthia Malkin, has made millions of dollars from stocks, real estate, properties, and hedge funds. The only liability Blumenthal reported was the 30-year mortgage his wife took out on their home in 2011.
Rep. Trey Hollingsworth, Indiana, Republican — $74,629,062
A member of the House of Representatives Financial Services Committee, Trey Hollingsworth also serves on multiple subcommittees focused on investor protection and diversity and inclusion. After graduating from the University of Pennsylvania, Hollingsworth co-founded Hollingsworth Capital Partners alongside his father. The company focused on rebuilding old manufacturing sites and returning them to service; Hollingsworth also founded an aluminum remanufacturing company. Both of those businesses played a major part in his massive wealth.
Rep. Doris Matsui, California, Democrat — $73,872,062
Doris Matsui has built her fortune through exchange-traded funds, money-market funds, LLCs, and trusts. She’s gained wealth through her husband Roger Sant, who’s the founder of Fortune 500 holding company AES Corporation. Matsui also might be the most relatable person on this list. She reported at least $165,000 in credit card debt liabilities; 42% of Americans have increased their credit card debt since the pandemic began. Congress members—they’re just like us!