It is widely acknowledged that political service should be a noble pursuit and not one driven by a desire for wealth. However, history has shown us that some politicians have made a fortune during their political careers. Even after they leave office, they continue to be some of the wealthiest people in the world. In this article, we’ll take a look at 20 wealthy United States politicians and how they acquired their wealth.
- Michael Bloomberg:
Michael Bloomberg, former mayor of New York, is the richest politician in the United States. With an estimated net worth of around $60 billion, his fortune was initially made through his financial media company, Bloomberg LP.
- Mitt Romney:
Mitt Romney, a former presidential nominee, made his wealth through business ventures such as private equity, hedge funds, and investments. His net worth is estimated to be around $250 million.
- Nancy Pelosi:
Nancy Pelosi, the current Speaker of the House, derives most of her wealth from her husband, Paul Pelosi. The two own an estimated $114+ million in real estate investments and wine vineyards.
- Mark Warner:
Mark Warner, a former Virginia senator, founded Nextel, a wireless communication company, which he later sold. His net worth is estimated to be around $200 million.
- Donald Trump:
Donald Trump, former president, began his career in real estate and development. He later expanded into entertainment, publishing, and beauty pageants, making his fortune worth around $2.3 billion.
- Dianne Feinstein:
Dianne Feinstein, the senior senator from California, has a net worth of an estimated $50 million. Her sources of wealth lie in investments, securities, and real estate.
- Jared Polis:
Jared Polis, the current governor of Colorado, is a former entrepreneur who made his wealth through multiple ventures, including founding an internet company, e-commerce platform, and online greeting card company. His net worth is estimated to be around $400 million.
- Rick Scott:
Rick Scott, former governor of Florida, made his fortune through his medical clinic chain. His net worth is estimated to be around $260 million.
- Darrell Issa:
Darrell Issa, a former Republican representative from California, made his wealth through his company handling the design and manufacturing of vehicle alarms. His net worth is estimated to be around $250 million.
- John Kerry:
John Kerry, former secretary of state, comes from an affluent family. His wife’s family owns the Heinz Company, which accounts for most of their estimated $200 million net worth.
- Phil Murphy:
Phil Murphy, the current governor of New Jersey, made his fortune through private equity firms and investment banking. His fortune is estimated to be around $50 million.
- Greg Gianforte:
Greg Gianforte, the current representative from Montana, made his wealth through his companies specializing in e-commerce and cybersecurity. His net worth is estimated to be around $260 million.
- Kevin McCarthy:
Kevin McCarthy, a Republican representative from California, comes from a family of small business owners. His wealth comes from his family-owned wholesale food distribution company. His net worth is estimated to be around $300,000, however, there are estimates that vary wildly from various sources. Some say his net worth is as high as $95 million so this one is a bit of an enigma in terms of understanding his approximate net worth.
- Jane Harman:
Jane Harman, a former representative from California, is the heiress of her father’s company, which was sold to the defense contractor company, Raytheon. Her net worth is estimated to be around $200 million.
- Jay Rockefeller:
Jay Rockefeller, former senator from West Virginia, is a direct descendant of the family who founded the Standard Oil Company. His estimated net worth is around $150 million.
- Ted Cruz:
Ted Cruz, a Texas senator, was successful as a private practice attorney before he transitioned into politics. His net worth is estimated to be around $3.3 million.
- Ron Johnson:
Ron Johnson, a Republican senator from Wisconsin, made his fortune through retail. He was the former CEO of the company, Kohl’s, which is responsible for his net worth of an estimated $600 million.
- Don Young:
Don Young, the longest-serving representative in Alaska’s history, made his fortune through investments. His net worth is estimated to be around $1.6 million.
- John Delaney:
John Delaney, a former representative from Maryland, made his wealth through launching two financial services companies that focused on healthcare. His net worth is estimated to be around $336 million.
- Bob Corker:
Bob Corker, former senator from Tennessee, made his fortune through real estate development and construction. His net worth is estimated to be around $69 million.
Summary
Politics should be about serving the people, not about wealth. However, it is evident that some politicians have made significant fortunes throughout their careers. For some, it was through business ventures, while for others, it was inheritance and investments. It is important to note that financial status should not affect the ability of these people to serve the general populace and uphold their duty to the nation. Regardless, it is always interesting to learn how these politicians accumulated their wealth and maintain their finances. Compare this list with our list of the 20 wealthiest politicians in the world.
Disclaimer: We pull net worth estimates from various public sources and do not vouch for any of those estimates. We understand that any estimate of net worth may be under or overstated and we cannot verify the accuracy of such estimates.