Richest current Democratic politicians in Congress

Featured photo: Sen. Dianne Feinstein (D-CA) leaves the Senate floor after voting yes on a procedural vote on federal legislation protecting same-sex marriages, at the U.S. Capitol on November 16, 2022 (photo by Drew Angerer // Getty Images)

All members of Congress in both the House and Senate earn the same annual salary of $174,000, which is not all that exceptional considering that to live comfortably in Washington D.C. you need to earn a baseline salary of around $144,000. And that number is increasing every year.

Some framers of the Constitution assumed most senators would likely come from wealthy families, and as a result, didn’t require a salary at all. For a brief period of time under the Articles of Confederation, states could actually suspend their congressional representative’s pay if they were dissatisfied with their work.

Despite officially earning what some might consider a relatively modest wage (compared to, for example, executives at S&P 500 companies), some members of Congress are estimated to be worth tens of millions of dollars, with several inching closer to nine-figure net worths every year. Some came from wealthy families, while others married into them. Some made their fortunes in private sector careers before entering politics. But what the richest all have in common is vastly diversified portfolios of stock options, government securities, mutual funds, exchange-traded funds, and real property—which is more extensive than just real estate—among other assets.

Suspicions of insider trading, in which a lawmaker’s job makes them privy to information withheld from the general public and therefore able to act in their own best financial interest, led to the 2012 Stop Trading on Congressional Knowledge Act. The STOCK Act requires that all stock and securities transactions be disclosed in full within 45 days of the transaction, as well as the disclosure of any asset either worth more than $1,000 at the close of the calendar year or that generated an income of more than $200 during the course of the year.

Still, ethical dilemmas abound. Information that doesn’t technically qualify as inside information and the laws associated with insider trading can still give lawmakers an unfair advantage in the market. A 2022 New York Times analysis of the Capitol Trades database created by 2iQ Research found that 3,700 trades disclosed by lawmakers of both parties between 2019 and 2021 posed potential conflicts of interest between their professional responsibilities, such as the committees they reside on, and their personal finances. Moreover, several members of Congress, many of whom are on the following list, were recently found to have violated the STOCK Act, according to a November 2022 Insider report.

Using a database compiled by Insider from congressional disclosure reports, Stacker ranked current Democratic politicians in Congress by their total estimated net worth. Estimated values were pulled from documents uploaded by each congressional member’s office for 2020, sometimes handwritten, and reference the low end of the estimated range of value for each asset. For some elected officials on this list, the assets of their spouses and dependents are included in their financial estimates, as such holdings bear relevance to that official’s accumulated wealth relative to their position within the federal government.

You may also like: States with the most liberals

Hyoung Chang // Getty Images

#25. Michael Bennet

– Senator from Colorado
– Estimated net worth: $6.8 million

Michael Bennet worked in the public and private sectors before entering politics, the latter of which being where he made most of his money. His resume includes roles as managing director for the Anschutz Investment Company, where his team merged several movie theater chains to create the Regal Entertainment Group, as well as the superintendent of Denver Public Schools. Bennet’s portfolio includes stocks, real estate, and hedge fund investments.

Paul Morigi // Getty Images

#24. Sheldon Whitehouse

– Senator from Rhode Island
– Estimated net worth: $6.8 million

Sheldon Whitehouse has been a congressman for 15 years. Before that, he served as Rhode Island State Attorney General, United States Attorney, and the director of the Rhode Island Department of Business Regulation before entering politics. The senator’s top assets include real estate and stock investments.

Alex Wong // Getty Images

#23. Debbie Dingell

– Representative from Michigan
– Estimated net worth: $6.9 million

Before becoming the representative of Michigan’s 6th District in November 2022, Debbie Dingell represented Michigan’s 12th District for two terms. She worked at General Motors for more than 30 years as a public affairs executive and president of the General Motors Foundation before filling the seat of her late husband, Rep. John Dingell.

Tom Williams // Getty Images

#22. John A. Yarmuth

– Representative from Kentucky
– Estimated net worth: $7.3 million

Rep. John Yarmuth worked in publishing before entering politics, launching both Louisville Today magazine and a weekly newspaper called the Louisville Eccentric Observer, which he later sold to Time Publishing Company. Yarmuth has made significant contributions to the food and beverage industry. Open Secrets lists Sonny’s Barbeque, a chain barbecue restaurant with more than 100 locations, as one of Yarmuth’s top assets. Yarmuth’s younger brother Robert Yarmuth is CEO of that chain.

Chip Somodevilla // Getty Images

#21. Jackie Speier

– Representative from California
– Estimated net worth: $7.8 million

Jackie Speier’s assets contain a mix of mutual funds, stocks, and real property. A large portion of her wealth comes from rental properties in California.

You may also like: Can you answer these real ‘Jeopardy!’ clues about politics?

Bill Clark // Getty Images

#20. Bill Foster

– Representative from Illinois
– Estimated net worth: $8.3 million

Bill Foster had a long career as a physicist before entering politics in 2013. In 1975, Foster and his brother Fred co-founded a company called Electronic Theatre Controls, which specializes in theater and entertainment lighting. Most of Foster’s wealth came from selling his share in the company.

Kevin Dietsch // Getty Images

#19. Josh Gottheimer

– Representative from New Jersey
– Estimated net worth: $9.0 million

Josh Gottheimer’s portfolio includes hundreds of stock options, jointly owned by his spouse.

Gottheimer has been accused of violating the STOCK Act for failing to report an exchange of Independent Bank Corp. (INDB) stock, completed on Nov. 15, 2021, in a timely manner.

The Act states that individuals must “file reports within 30 to 45 days after receiving notice of a purchase, sale, or exchange which exceeds $1,000 in stocks, bonds, commodities futures, and other forms of securities.” 

Gottheimer filed a Periodic Transaction Report filed on Aug. 13, 2022—about 9 months after the date of the exchange—claiming he was not notified of this transaction until Aug. 10, 2022. 

Based on the self-reported notification date and the date of the filing—a delay of three days— this technically puts Gottheimer within the required 30-45-day reporting window. 

“No shares were bought or sold here. It was just an exchange. When our office was notified of this exchange on August 10 of this year, we immediately filed,” a spokesperson for Josh Gottheimer stated. 

“Prior to taking office, the congressman turned over management of his retirement savings and investments to a third party, who has full investment discretion,” the spokesperson added. 

Gottheimer’s office declined to comment on the delay between the date of the transaction and the date he was notified. 

Jon Cherry // Getty Images

#18. Mark Kelly

– Senator from Arizona
– Estimated net worth: $10.4 million

Former naval aviator and astronaut Mark Kelly’s wealth is divvied up among mutual funds, government securities, and stocks. Kelly’s illustrious career has earned him many lucrative speaking engagements over the last few years. Securities and Exchange Commission disclosure filings revealed that Kelly has earned more than $2 million from speaking engagements.

Chip Somodevilla// Getty Images

#17. Ron Wyden

– Senator from Oregon
– Estimated net worth: $12.3 million

A large portion of Ron Wyden’s net worth is tied to a diverse stock portfolio and government securities owned by his wife and child. Wyden’s wife Nancy Bass Wyden is the owner of New York City’s Strand Bookstore. Wyden is listed as the owner of more than a dozen different mutual funds.

Ian Forsyth // Getty Images

#16. John Hickenlooper

– Senator from Colorado
– Estimated net worth: $13.0 million

John Hickenlooper holds significant stock in dozens of Fortune 500 companies—even more when assets in his spouse’s name are factored in. His portfolio also includes government securities and mutual funds. In May 2020, Hickenlooper was late to disclose stock trades of nearly $1.2 million as well as hundreds of thousands of dollars in stock offloads undertaken by his wife.

You may also like: 50 famous firsts from political history

Bill Clark // Getty Images

#15. Jim Cooper

– Representative from Tennessee
– Estimated net worth: $13.1 million

Jim Cooper’s wealth is concentrated primarily in real property and stocks. Cooper’s assets include ownership interests in retirement communities and apartments, for which he received rent, as well as undeveloped land. Cooper owns stock in Coca-Cola, Comcast, Exxon Mobil, General Electric, Intel, IBM, and Microsoft, among others.

Bill Clark // Getty Images

#14. Susie Lee

– Representative from Nevada
– Estimated net worth: $15.6 million

Susie Lee’s wealth exists in the form of stocks, mutual funds, and real property, much of which was jointly or solely owned by her now ex-husband Dan Lee. Susie Lee’s net worth includes stock in Full House Resorts, of which Daniel is the CEO.

Sergio Flores // Getty Images

#13. Lloyd Doggett

– Representative from Texas
– Estimated net worth: $18.3 million

Lloyd Doggett’s wealth is divvied up mostly among mutual funds and real property in Austin, Texas. Doggett also holds stock in Coca-Cola, Home Depot, IBM, and Johnson & Johnson, among others.

Paul Morigi // Getty Images

#12. Sara Jacobs

– Representative from California
– Estimated net worth: $21.4 million

Sara Jacobs’ wealth, comprised of stocks, mutual funds, real property, and government securities, is stored primarily in trusts. According to reporting by Business Insider, Jacobs’ trust houses more than $6 million in Qualcomm stock. Qualcomm is a semiconductor company co-founded by Jacobs’ grandfather, Irwin M. Jacobs.

Kevin Dietsch // Getty Images

#11. Dean Phillips

– Representative from Minnesota
– Estimated net worth: $24.8 million

Dean Phillips’ professional resume includes several leadership positions in the food and beverage industry. He co-founded Penny’s Coffee, based in Minnesota, served as CEO of Phillips Distilling Company, and was chairman of Talenti Gelato. Phillips holds a large array of stocks, which in July 2021 were consolidated in a blind trust to avoid a conflict of interest during his time in office.

You may also like: States with the most conservatives

Bill Clark // Getty Images

#10. Kathy E. Manning

– Representative from North Carolina
– Estimated net worth: $27.2 million

Kathy Manning’s joint assets with her spouse Randall Kaplan are primarily stock holdings in companies including Alphabet, Amazon, Facebook, Microsoft, Netflix, Snap, and others. Assets held solely by Kaplan include rental properties, mutual funds, exchange-traded funds, and additional stocks.

Anna Moneymaker // Getty Images

#9. Don Beyer

– Representative from Virginia
– Estimated net worth: $29.8 million

Don Beyer’s assets, including a large stock portfolio, real property, and government securities, are jointly owned by his spouse. A significant portion of Beyer’s wealth comes from rent on his commercial properties.

The Washington Post // Getty Images

#8. David Trone

– Representative from Maryland
– Estimated net worth: $32.9 million

David Trone is the co-founder and co-owner of alcohol retail chain Total Wine & More, which is the source of most of his wealth. The remainder of Trone’s financial assets are distributed among mutual funds, stocks, and exchange-traded funds.

Bill Clark // Getty Images

#7. Scott Peters

– Representative from California
– Estimated net worth: $39.7 million

Many of Scott Peters’ largest assets are in his wife Lynn Gorguze’s name. Gorguze is president and CEO of private equity firm Cameron Holdings. Peters’ other assets include government securities and water bonds.

Anna Moneymaker // Getty Images

#6. Nancy Pelosi

– Representative from California
– Estimated net worth: $46.1 million

Though Nancy Pelosi’s net worth is close to $50 million, the only assets she shares jointly with her husband Paul Pelosi are one Napa Valley property and a joint Wells Fargo checking account holding less than $15,000. The rest of her wealth is technically owned by her husband and is spread out among stock in companies like Disney, Tesla, Netflix, and Salesforce.

You may also like: States with the most Confederate memorials

San Francisco Chronicle/Hearst Newspapers // Getty Images

#5. Suzan DelBene

– Representative from Washington
– Estimated net worth: $52.2 million

Suzan DelBene had a long and successful business career, including an executive role at Microsoft, before entering politics. DelBene’s wealth is spread out among real estate investments, Microsoft stock, and mutual funds.

Anna Moneymaker // Getty Images

#4. Doris O. Matsui

– Representative from California
– Estimated net worth: $73.9 million

Doris Matsui’s wealth comes primarily from her husband Roger Sant, founder of the AES Corp., a Fortune 500 holding company. Assets in Matsui’s name are distributed mostly among trusts and exchange-traded funds.

Chip Somodevilla // Getty Images

#3. Richard Blumenthal

– Senator from Connecticut
– Estimated net worth: $85.2 million

Richard Blumenthal married into his fortune. His wife, Cynthia Malkin, is the daughter of Manhattan real estate magnate Peter Malkin. Blumenthal’s net worth is overwhelmingly tied up in Cynthia Malkin’s assets, which include real estate, hedge funds, and stocks.

Pool // Getty Images

#2. Mark Warner

– Senator from Virginia
– Estimated net worth: $93.5 million

Much of Mark Warner’s wealth comes from his time working in the private sector. Before entering politics, Warner ran Columbia Capital, a venture-capital firm. Warner also founded Capital Cellular Corp., which was an early investor in Nextel, a wireless service operator.

Anna Moneymaker // Getty Images

#1. Dianne Feinstein

– Senator from California
– Estimated net worth: $99.5 million

Dianne Feinstein, the wife of Blum Capital founder Richard Blum, is the wealthiest Democrat in congress. While the majority of her wealth comes from her late husband’s business dealings, at least $25 million is held in a blind trust. Feinstein’s stake in Carlton Hotel Properties Inc. is one of her largest assets.

You may also like: History of the NRA