Meet Congress’s richest man

Meet Congress’s richest man
© Anne Wernikoff

House Oversight Committee Chairman Darrell Issa (R-Calif.) is likely the richest member of Congress, according to an analysis by The Hill.

Issa, the former CEO of a car alarm company, had at least $392 million in financial assets at the end of 2013, according to a financial disclosure form he filed over the summer.

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Although the Republican’s net worth has fallen $38 million from 2012, Issa’s wealth remains a step above his peers. The lawmaker who comes closest, Rep. Michael McCaul (R-Texas), reported having more than $118 million in assets at the end of 2013.

Among the other richest members of Congress are Sen. Jay RockefellerJay RockefellerObama to preserve torture report in presidential papers Lobbying world Overnight Tech: Senators place holds on FCC commissioner MORE (D-W.Va.), who had a minimum net worth of $118.1 million, and Sen. Mark WarnerMark WarnerTop Senate Dem: ‘Grave concerns’ about independence of Russia probe Dems worry too much about upsetting others. That needs to stop. Washington-area lawmakers request GAO report on DC Metro MORE (D-Va.), who had $93.4 million.

Most of Issa’s wealth is held in investment accounts. The 60-year-old lawmaker had six assets worth more than $50 million each — down from seven in 2012 — and 11 assets worth at least $5 million each.

Issa made his fortune as the chief executive of Directed Electronics, which manufactures car alarms and other automotive products.

The disclosure forms filed by lawmakers do not provide a precise measurement of wealth: lawmakers can report the value of their investments, bank accounts and loans in vast ranges. One category that lawmakers can mark, for instance, ranges from $5 million to $25 million.

Among congressional leaders, House Minority Leader Nancy Pelosi (D-Calif.) remains the richest, with a net worth of at least $24.45 million in the 2013 calendar year.

Among other high-level investments, the Pelosies have a home and vineyard in Napa, Calif., that’s worth more than $5 million. Her husband, Paul, has several real estate assets, including a $1 million investment in a hotel. He also has a $5 million to $25 million stake in the Sacramento Mountain Lions, a team in the United Football League.

Senate Minority Leader Mitch McConnellMitch McConnellNew DNC chairman wastes no time going after Trump Dem 2020 hopefuls lead pack in opposing Trump Cabinet picks Though flawed, complex Medicaid block grants have fighting chance MORE (R-Ky.) is worth a minimum of about $12 million, while Senate Majority Leader Harry ReidHarry ReidSanders and Schumer are right: Ellison for DNC chair The Hill's 12:30 Report Hopes rise for law to expand access to experimental drugs MORE (D-Nev.) and Speaker John BoehnerJohn BoehnerHouse markup of ObamaCare repeal bill up in the air Conservatives to Congress: Get moving Boehner: ObamaCare repeal and replace 'not going to happen' MORE (R-Ohio) have at least a $2.9 million and $2.3 million net worth, respectively.

One of the new members of House leadership, Majority Whip Steve Scalise (R-La.) has personal loans, a revolving credit account and mortgages that put his minimum net worth in the red, at negative $671,000.

Scalise listed four assets worth anywhere from $1,001 to $15,000 — a Capital One bank account, stock in Cisco Systems and two retirement accounts.