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Without further ado, here are the five wealthiest members of Congress, according to their 2010 financial disclosures:
5) Sen. Mark Warner (D-Va.) -- $76.3 Million
When Warner joined the Senate in 2009, he was one of 11 freshman members that made the list of 50 wealthiest congressmen. Since then, his net worth has grown by $6.1 million, making him the wealthiest junior Senator.
Not just another trust fund baby, Warner made his millions investing in telecoms and venture capital. He co-founded Capital Cellular Corporation and was an early investor in Nextel Communications, which was purchased by Sprint (NYSE: S) in 2005 for $36 billion. Warner was also the founder and managing director for Columbia Capital, a venture capital firm he's still invested in.
Photo: Mark Warner
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It should come as no surprise that much of Rockefeller's wealth comes from the family that made his last name famous. His great-grandfather, John D. Rockefeller, was the legendary founder of Standard Oil.
Many of the Senator's assets are in family trusts, the two largest of which are worth at least $50 million and $25 million. And it's no wonder the Rockefeller wealth continues to trickle down through the generations. If we calculate his wealth according to today's inflation-adjusted dollars, John D. Rockefeller was worth $336 billion. That's over 5 times richer than Warren Buffett!
[My boss, Paul Tracy, has uncovered what he calls a real "Rockefeller" stock. Get the ticker symbol here, and he'll explain why he wants to hold this particular stock forever.]
Photo: NASA HQ Photo
Where is the bulk of Kerry's cash from? Well, his wife is heir to the H.J. Heinz Company (NYSE: HNZ) fortune. Her net worth is estimated to be between $750 million and $1.2 billion.
In August 2011, Senate Majority Leader Harry Reid appointed Kerry to the United States Congress Joint Select Committee on Deficit Reduction, a new committee created in the wake of the debt-ceiling crisis. The 12-member group is responsible for recommending a plan to cut an additional $1.5 trillion from the budget over the next 10 years.
Photo: Center for American Progress Action Fund
Coming in second (for the third year in a row) is ex-Army captain Darrell Issa, with a minimum net worth of over $220 million.
A Grand Theft Auto-type stunt pulled by Issa and his brother served as the inspiration for the business that would make him millions -- car alarms. Issa founded Directed Electronics (Nasdaq: DEIX), the nation's largest aftermarket auto electronics manufacturer. Even if you've never heard of Directed Electronics, you've probably heard its Viper system, which asks passers-by to "Please step away from the car," (voiced by Issa) when they are too close.
Issa is one of 257 congressmen who signed the Taxpayer Protection Pledge, a written promise to oppose all tax increases.
[InvestingAnswers Feature: Are We Overtaxed?]
Photo: musicFIRSTcoalition
Everything really is bigger in Texas -- even the wealth of its politicians.
In 2010, McCaul's fortune grew an astounding $213 million, propelling him past five congressmen (including long-time wealthiest member Sen. Kerry) to the top spot. When McCaul was first elected to the House in 2004, his minimum net worth was only $12 million.
This meteoric rise in McCaul's net worth appears to come from large transfers of money to his wife, Linda McCaul, from her father, Clear Channel Communications founder and CEO Lowry Mays. According to his 2010 financial disclosure, all of McCaul's assets are attributed to his wife and dependent children.
http://www.infowars.com/the-50-richest-members-of-congress/
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11. Rep. Michael McCaul (R-Texas)
$23.93 million
The Lone Star State lawmaker saw his wealth increase by more than $6 million in 2007, largely thanks to his wife’s investment in a San Antonio real estate partnership.
Together with his wife and family, McCaul also invests at least $12.1 million in Clear Channel Communications, the company founded by his father-in-law, Lowry Mays. The McCauls also list nearly $1 million invested in Live Nation, a Clear Channel spinoff.
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- This is the official Facebook page for Bay Area Against ClearChannel Kingdom (B.A.C.K) ... And, Worldwide Artists Against ClearChannel Kingdom (WAACK) Firstly I'd like to say WELCOME to Associates from every state, who like us, see the danger in uncontrolled monopoly of corporate radio, and political influence on free speech and MUSIC. Welcome! PLEASE SHARE ANY INFORMATION YOU HAVE WITH US. This group will never engage in personal,attacks against individuals working for Clear Channel, nor Goldenvoice, unless they are proven to be a part of the Clearchannel/Goldenvoice upper management and involved in anti-gay, pro corporate, lobbying, or involved in other far right christian activist groups. Everyone has to make a living! we understand that! Currently, We are seeking to make the SF Bay Area a test model of Radio Resistance, and public opinion for fighting back against corporate media, on ALL fronts, and are preparing a massive boycott of all clear channel and Goldenvoice owned venues in the San Francisco Bay area. Clear Channel constitutes a clear and present danger to the Musical community, the health of the local economy, as well as people of color, the Gay Lesbian,
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Philip F. Anschutz is the billionaire co-founder of Qwest Communications[1], among the largest land-owners in Colorado, a major player in the oil, railroad, and media markets, and according to Forbes, he is the 33rd wealthiest man in America. He also has large and plentiful investments in sports teams (such as several soccer teams[2], the LA Lakers and the LA Kings), stadiums and newspapers (San Francisco Examiner and the SF Independent).[3]
Philip F. Anschutz is the billionaire co-founder of Qwest Communications[1], among the largest land-owners in Colorado, a major player in the oil, railroad, and media markets, and according to Forbes, he is the 33rd wealthiest man in America. He also has large and plentiful investments in sports teams (such as several soccer teams[2], the LA Lakers and the LA Kings), stadiums and newspapers (San Francisco Examiner and the SF Independent).[3]
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