How much is Congress worth?
Mark Warner, Wikimedia Commons
Nearly $4.7 billion, according to this post on Bill Moyers’ blog. The average net worth of a U.S. Senator is $13 million. For a member of the House of Representatives, the average is $6 million.
The information, borrowed from a personal finance website, is from 2010, so it’s a little dated. The Hill has the latest rankings here.
Either way, Virginia Democrat Mark Warner remains the second wealthiest U.S. Senator, with a total net worth of $85.9 million. He’s fourth wealthiest among members of both chambers of Congress. One other Virginian makes the top 50, Rep. Scott Rigell, a Virginia Beach businessman with a net worth of $10.8 million. He’s Number 27.
Perhaps the most interesting ranking, courtesy of The Washington Post, shows the 25 members of Congress with the lowest net worth. No Virginians in that group. The unlucky guy at the bottom of the wealth spectrum is Rep. Alcee Hastings, D-Fla., with negative net worth exceeding $7.7 million in 2010.
August 23, 2012 - 11:38 AM
I think it would be interesting to see if members of Congress could withstand the scrutiny that got Martha Stewart in trouble for insider trading. You see plenty of instances of Senators and Congressmen (and/or their aides) benefiting from inside information, but little scrutiny.
Hoo…congress’s insider trading was technically legal until this past March..I think.
2 – nice perk. They’re in for altruistic reasons, though, I am sure.
Yes Bud. To think that members of Congress were free to invest in industries for whom they were writing the rules and regulations is pretty stunning. The rest of us go to jail for far less.
There’s not much salary in being a congressman, but there’s no beating the perqs.
It is safe to say they could not withstand such scrutiny and how it has gone on so long is another toast to “the best Congress money can buy”. How the hypocrites can even prosecute citizens is beyond me!
#34 “There’s not much salary in being a congressman, but there’s no beating the perqs.”
I don’t know, Kristen, a large percentage of Americans would settle for a salary of $174,000 (along with the bennies), although there are some expenses, like keeping two places to live (unless you sleep in your office). No doubt the perqs can be worth more, though.
Congress is worth nothing! They have done nothing except stack the deck against anyone running against them. Throw all the bums out,now. If you vote for the elephants or the jackasses you are part of the problem. Vote libertarian and get government off our back and hopefully our country back to what it used to be,no debt,small government and pride in America.
6 – I think they receive a stipend (apart from their salary) that at least partially offsets the cost of the second residence.
True, gdad, but when we look at people who’s average net worth is well over $10 million, the $170K might not be the main reason they’re in the game.
#9 True, Kristen.