Growing wealth of members of Congress

I extracted the following from today’s issue of The Hill.

Nevada Democratic Senator Majority Leader Harry Reid:

Harry ReidSenate Majority Leader Harry Reid (D-Nev.) reported at least $3.4 million in wealth, an almost 10 percent rise over the prior year. Reid had a minimum net worth of close to $3.1 million in 2009.

Much of Reid’s wealth is wrapped up in land holdings in his home state of Nevada and in Arizona. Those holdings include 160 acres in Bullhead City, Ariz., worth at least $1 million. He also reported a loan to his campaign valued at at least $50,000.

As in 2009, Reid caught a Christmastime jet ride to Reno thanks to Sen. Dianne Feinstein (D-Calif.) last year. Reported as a gift, its value was $14,500, as determined by Senate Ethics Committee staff.

Kentucky Republican Senate Minority Leader Mitch McConnell:

McConnellSenate GOP leader Mitch McConnell (R-Ky.) reported a minimum net worth of $9.8 million and remains one of the wealthiest lawmakers on Capitol Hill, according to his disclosure form. His minimum net worth grew close to 29 percent from a minimum of $7.6 million in 2009.

McConnell’s wealth likewise rose in part to some smart plays in the stock market with his wife, former Bush administration Labor Secretary Elaine Chao. They exchanged some of their stock holdings for Vanguard 500 Index Admiral shares, with a value of at least $500,000.

Chao also gave several paid speeches, for which she was paid more than $1,000 per appearance, according to McConnell’s financial disclosure report. She spoke to the University of Illinois-Champaign, Corning Inc. and the American Chamber of Commerce in Chicago, among other groups.

Texas Republican Representative Ron Paul

Ron Paul[Paul is] a 2012 presidential candidate, sold at least $50,000 worth of stock in a gold mining company last year.

According to his disclosure report, Paul, who favors returning to the gold standard, signed off on a partial sale of his investment in Goldcorp Inc. but still owns at least $500,000 in assets tied up in the Vancouver-headquartered mining company.

The congressman has hundreds of thousands of dollars tied up in several gold mining companies, including Barrick Gold Corp., Eldorado Gold Corp. and Iamgold Corp.

Paul reported a minimum net worth of $2.2 million in 2010.

Related posts:

  1. Money paid Congress Members by health insurance industry
  2. Members of Congress undecided or opposed to healthcare reform
  3. Sharron Angle’s Fundraising Surge
  4. FactCheck: Health Care for Members of Congress?
  5. Members of Congress supporting Obama’s healthcare reform

About Featheriver

Born and raised in Oklahoma. Improved in California. Out to pasture in Nevada. Born in 1933, Korean War Vet in USAF. Occupation: Criminal Law and Torts. Retired California Lawyer. Now live in Pahrump, Nye County, Nevada.
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