The 50 richest members of US Congress,
August 13, 2002 4:26 PM   Subscribe

The 50 richest members of US Congress, each with a net worth ranging from $3.3 mil to $675 mil. Looks like a mostly even mix among the parties, with a heavy California contingent.
posted by mathowie (29 comments total)
 
I honestly expected to see a lot more money there. Three million to make the list just doesn't seem like very much, especially when we have dead celebrities making way more than that in a single year.
posted by mr_crash_davis at 4:48 PM on August 13, 2002


Fascinating... how different is this list from the 50 poorest members of Congress? I'll bet even the poorest members are nowhere near the poverty level. So much for equal representation.
posted by illusionaire at 4:52 PM on August 13, 2002


"I'll bet even the poorest members are nowhere near the poverty level."

You mean now that Jim Traficant and his polyester pants are gone, of course.
posted by mr_crash_davis at 4:58 PM on August 13, 2002


Of course! That's sort of an exception... although I hear he is going to try to run for office from prison. I wonder if the commissary where's he's at sells posterboard and permanent markers? And how many hours he'll have to work in the laundry facilities to earn them? Not to mention the limits on phone calls and visitors.
posted by illusionaire at 5:01 PM on August 13, 2002


A government that's representative of what?
Of course, my favorite reaction is the one where people act like it's always been like this, and always will be. To be jaded can be truly restful, I bet.
posted by Busithoth at 5:03 PM on August 13, 2002


Congressmembers aren't that rich, and can often be had for surprisingly little money. Recall Joe Biden's recent anti-piracy bill which apparently was bought for a meager $39,324 from the entertainment industry. If you want a bill introduced on the floor of the US Congress, it can be done for just a few thousand dollars. Michael Moore did it on "TV Nation" once.
posted by Potsy at 5:08 PM on August 13, 2002


I am surprised that it "only" takes $3.3 million to make the top 50. Considering that most congressmen are on the older side, $3.3 million isn't really a whole lot to retire on. It's also interesting that the list seems pretty evenly divided between money from rich spouses, inherited money, and self-made millionaires.
posted by gyc at 5:18 PM on August 13, 2002


8 out of 50 from California really isn't such a heavy contingent considering the total number of representatives from the State.
posted by mogwai at 5:24 PM on August 13, 2002


"I'll bet even the poorest members are nowhere near the poverty level."

Try telling that to Gary Condit
posted by Fupped Duck at 5:38 PM on August 13, 2002


Top individual campaign donors in 2000 (doesn't count state-level donations or soft money.

Top federal government contractors in fiscal 2000. Don't forget the figures are in 1000s. Total purchases $203,842,394,000. $211M to Worldcom. $220M to Rolls Royce. $1 billion to EDS.

Bush cabinet members have average net worth of somewhere between $9.3 and $27.3 million. Several are worth more than $100M. Average is 10 times more wealthy than their predecessors. Includes more detailed info on net worth of top 100 administration officials.

I'm not against wealth per se, but I think disclosure is really important. “Sunshine is the best disinfectant.” -- Supreme Court Justice Louis Brandeis
posted by fuzz at 5:49 PM on August 13, 2002


Let's hear it for ketchup heiress money!
posted by blucevalo at 6:00 PM on August 13, 2002


Is it just me or does the phrase "ketchup heiress" sound like something out of Scooby Doo?

"Hey Scoob! Someone's kidnapped Madame Heinz, the ketchup heiress!"

"Ridrapped Retchup Reiress?"

"Zoinks!"
posted by jonmc at 7:13 PM on August 13, 2002


$3.3 million isn't really a whole lot to retire on

What? Let's assume you retired today, at age 65, with this much money. If you lived for 25 more years, you'd have $132,000 to spend per year before taxes, and that's assuming you make 0% interest on your hoard after retiring.

A real hardship.
posted by pitchblende at 7:14 PM on August 13, 2002


Sunshine is the best disinfectant. -- Supreme Court Justice Louis Brandeis
i'd say the current batch of supremes sure could use a nice tan.
posted by quonsar at 7:25 PM on August 13, 2002


Besides the ketchup heiress--Hmm.. Ketchup...--We have car alarm man, transplant surgeon, tree farmer, Hensley liqour heiress husband, former CIA agent and newspaper publisher (now there's a combo!), an heir to the Whirlpool fortune and former head of a day-planner manufacturer and motivational-materials firm.

Next: Senator Tony Robbins.

Sounds like a representative democracy to me.

On Mars...

Sidebar: Maria RealNetworks Cantwell defeated our own local favorite rich kid carpetbagger here--former senator Slade Clam-Boy Skeletor Gorton.
posted by y2karl at 7:36 PM on August 13, 2002


Bush cabinet members have average net worth of somewhere between $9.3 and $27.3 million. Several are worth more than $100M. Average is 10 times more wealthy than their predecessors. Includes more detailed info on net worth of top 100 administration officials.

Ha, that's nothing. Wait and see how much more they have at the END of Bush's four years.
posted by rushmc at 7:38 PM on August 13, 2002


Personally, I love the fact that number one guy is there, in large part, because of his wife.
posted by noether at 8:19 PM on August 13, 2002


Looks like a mostly even mix among the parties

34 of 50 are Republicans, but most of the Democrats on the list are ranked higher.
posted by skyline at 8:34 PM on August 13, 2002


Actually there's a pretty good explanation for these figures. You see, many Congresscritters used to be in State Government. Most state legislatures pay a pittance. Granted, some of them only meet 3 months a year, but try asking your employer for 3 months off! They can't vote themselves so much as a living wage without headlines saying stuff like "State House Votes Self 1500% Pay Increase." Short version is that state politicians -- the nursery for Federal politicians -- must be independently wealthy.
posted by ilsa at 9:02 PM on August 13, 2002


34 of 50 are Republicans, but most of the Democrats on the list are ranked higher.

I just looked at the top 10...

Eight are Democrats or liberal New England Republicans (i.e. Houghton and Chaffee), all but one of whom (Corzine) either married or inherited big-time.

The other two, who are the most conspicuously self-made, are normal Republicans (Issa and Ose).

Anyone happen to comb the list to see what's the percentage of conservative Republican heirs/heiresses, or self-made liberals? I'd be willing to bet that, out of the top 50, there are two or fewer such anomalies.
posted by apollo3000 at 9:40 PM on August 13, 2002


$3.3 million isn't really a whole lot to retire on.

I just have a quick question: are you nuts?
posted by mcsweetie at 10:04 PM on August 13, 2002


"$3.3 million isn't really a whole lot to retire on.

I just have a quick question: are you nuts?"


Come on, during my retirement I expect to spend that much on beer alone.
posted by mr_crash_davis at 10:06 PM on August 13, 2002


All right, seriously, using the retirement calculator at usnews.com and very conservative numbers, I should need $2,927,755 to carry me through retirement until *gasp* death.

I'd better get cracking.
posted by mr_crash_davis at 10:10 PM on August 13, 2002


If you don't think about how they got their money, where they're from or what their position on the issues is, does anyone else find it highly ironic that 5 of the 6 richest members of the US Congress are Democrats? Definitely not what I would've expected...
posted by Jaybo at 10:32 PM on August 13, 2002


34 of 50 are Republicans

Is that surprising? Democrats like giving their money to single mothers, charities, and crack babies, rather than to their own bank account.
posted by wackybrit at 11:39 PM on August 13, 2002


This is a great resource, along with opensecrets.org. What we need now is for someone to create a relational database which could help us predict how certain politicians would vote on bills based on the bills subject and the kinds of corporations which supported that politician. Example:

That way when Orrin Hatch was opposed to the bill ensuring access to prescription drugs from Canada, the database would predict his position ahead of time, since it already was aware of the thousands of dollars he receives from pharmecutical companies.

It would be very interesting if the predictions were more than 50% accurate, since politicians don't really have 2, but 3 options on most of these things.

It could get pretty complex too, what if they have competing interests lobbying the same politicians, or what if the politician kills it in committee but supports it on the floor? I'm sure some smart poly sci grad and a good database developer could put something like this up fairly quickly, especially of opensecrets.org data can be easily parsed or even accessed via some API. /end techno dream rant.

money to single mothers, charities, and crack babies

You forgot unions. And the reason dems give them money is firstly because they vote, and the republicans have little appeal with those groups.
posted by insomnyuk at 12:09 AM on August 14, 2002


gyc: Don't forget that Congresscritters are entitled to generous federal pensions. It multiplies by years of service, as well as final salary paid, with COLAs, and may be supplemented by state pensions and any other retirement money. Until recently, as well, it was legal to convert the remainder of a campaign fund to personal use (taxable, but still). Except for the longest service or the highest salaries, e.g. Bill Clinton (who may receive $8M if he lives into his 70s), it's not enough to call yourself rich, but it beats most people's retirement plans.
posted by dhartung at 12:17 AM on August 14, 2002


What we need now is for someone to create a relational database which could help us predict how certain politicians would vote on bills based on the bills subject and the kinds of corporations which supported that politician.

Love this idea. Expand it to state legislators as well.
posted by blucevalo at 1:04 PM on August 16, 2002


Our junior senator, the richest man in the Senate, is running without an official Republican opponent this fall, and yet his campaign still called me and asked for a contribution. I laughed before I hung up on the campaign worker.

But, then, I do buy Heinz ketchup.
posted by briank at 1:26 PM on August 16, 2002


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