The 19 Richest New Members Of Congress

elizabeth warren

Photo: Wikimedia/Twp

The freshmen in the 113th Congress are, on average, wealthier than the incumbents.According to the centre for Responsive Politics, the median net worth of the 94 incoming lawmakers at the end of 2011 was $1,066,515. 

But even among this wealthy group of people, there are several multi-millionaires. 

We’ve compiled a list of all of the incoming freshment who have an estimated average net worth greater than $5 million.

1. John Delaney (D-Md.)

Net Worth: Between $46,886,140 and $231,164,999

How he earned it: In 1993, Delaney co-founded Health Care Financial Partners, a company that made loans to small healthcare service providers. The company was listed on the NYSE by 1998. In 2000, Delaney founded CapitalSource, a commercial lender in Maryland. That too is now listed on the NYSE.

His average wealth makes him the sixth wealthiest member of the 113th Congress.

Source: centre for Responsive Politics, Washington Post

2. Scott Peters (D-Calif.)

Net Worth: Between -$33,719,896 and $206,167,944

How he earned it: Peters became wealthy as a private attorney. Prior to attending law school, Peters was an economist at the Environmental Protection Agency, and he advises businesses and local government agencies on environmental matters.

Source: centre for Responsive Politics, WSJ

3. Chris Collins (R-N.Y.)

Net Worth: Between $13,308,039 and $107,394,996

How he earned it: Collins was the founder and CEO of Nuttal Gear Corporation, a company he sold in 1997. Since 1998, Collins has invested or outright purchased over 20 struggling companies and consolidated them. Today, he owns six companies: Bloch Industries, Audobon Machinery, Volland Electric, Mead Supply, ZeptoMetrix Corporation and Niagra Ceramics.

Source: centre for Responsive Politics, WSJ, Vote Smart

4. Alan Grayson (D-Fla.)

Net Worth: Between $24,137,081 and $85,510,000

How he earned it: Grayson started IDT Corp, a telephone services company, which he later sold. He is also a partner in Grayson & Kubli, a law firm with more than 300 clients, where he made a name for himself by filing whistleblower lawsuits against Iraq war contractors.

Source: centre for Responsive Politics, WSJ

5. Joe Kennedy III (D-Mass.)

Net Worth: Between $15,605,250 and $55,750,000

How he earned it: A member of the storied Kennedy political dynasty, Kennedy's wealth is primarily inherited. He has spent most of his career in public service, working as a district attorney in Massachusetts.

Source: centre for Responsive Politics,

6. Robert Pittenger (R-N.C.)

Net Worth: Between $18,615,005 and $48,551,997

How he earned it: Pittenger owns a national real estate investment company, the Robert Pittenger Company.

Source: centre for Responsive Politics, WSJ

7. Brad Schneider (D-Ill.)

Net Worth: Between $9,318,440 and $28,151,000

How he earned it: Schneider is the head of his own management consulting firm, Cadence Consulting Group, which he founded after leaving his position as director at Blackman Kallick, a tax and consulting firm. Prior to that job, Schneider was the managing principle at life insurance firm Davis Dann Adler Schneider. He got his start at Pricewaterhouse Coopers, where he worked while he earned his MBA.

Source: centre for Responsive Politics, WSJ

8. Bill Foster (D-Ill.)

Net Worth: Between $6,766,022 and $29,016,000

How he earned it: Foster started a successful theatre lighting business with his brother at the age of 19, which is the primary source of his wealth. He has since spent 20 years working as a physicist at the U.S. Department of Energy's Fermi National Accelerator Laboratory.

Source: centre for Responsive Politics, WSJ

9. Angus King (I-Maine)

Net Worth: Between $5,736,158 and $26,309,998

How he earned it: During the 1980s, King was the vice president of Swift River/Hasflund, a company that specialised in developing alternative energy hydroelectric and biomass projects. In 1989, King founded Northeast Energy Management, which installed large-scale electrical energy conservation projects all over Maine.

Source: centre for Responsive Politics, WSJ

10. Steven Daines (R-Mont.)

Net Worth: Between $4,695,012 and $22,999,999

How he earned it: Daines made most of his money as a vice president for RightNow Technologies, a cloud-based software company. Prior to that, he worked for his family's construction business in Bozeman, Mont., and spent 13 years as a manager for Proctor and Gamble.

Source: centre for Responsive Politics, National Journal

11. Roger Williams (R-Texas)

Net Worth: Between -$4,170,973 and $30,760,995

How he earned it: Williams owns a successful Chrysler automobile dealership in Weatherford, Texas.

Source: centre for Responsive Politics, Roger Williams CGJR

12. Elizabeth Warren (D-Mass.)

Net Worth: Between $4,609,025 and $14,696,000

How she earned it: A celebrity law professor at Harvard University, Warren has published nine books.

Source: centre for Responsive Politics, WSJ

13. Filemon Vela (D-Texas)

Net Worth: Between $1,254,014 and $15,945,995

How he earned it: Vela made his money as a successful civil attorney in Brownsville, Texas, and has individuals in several high-profile lawsuits against major corporations including Walmart, Titan Tire and Ford.

Source: centre for Responsive Politics, Reed Law Firm

14. Mark Meadows (R-N.C.)

Net Worth: Between $1,674,034 and $12,017,998

How he earned it: Meadows owns Highland Properties, a real estate and construction company specializing in land development. Previously, he worked as a consumer relations and public safety director for an energy company in Florida.

Source: centre for Responsive Politics, CQ, WSJ

15. Dennis Heck (D-Wash.)

Net Worth: Between $4,219,067 and $9,435,000

How he earned it: Heck has co-founded several companies, including Intrepid Learning Solutions, which specialises in business-oriented education; Digital Efficiency, which helps businesses transition to digital; and TVW, the public affairs network for Washington state.

Source: centre for Responsive Politics, Intrepid Learning

16. Beto O'Rourke (D-Texas)

Net Worth: Between -$1,546,154 and $14,853,840

How he earned it: After getting his start at several New York internet startups during the 1990s, O'Rourke returned to El Paso and started Stanton Street Technology Group, a business specializing in IT consulting and web design for small businesses. The firm is now one of the largest in the El Paso area.

Source: centre for Responsive Politics, CQ

17. George Holding (R-N.C.)

Net Worth: Between $3,942,054 and $8,930,000

How he earned it: Holding, a former U.S. Attorney, has inherited much of his wealth from his family, which controls the parent company of First Citizens Bank. He has also made money working in private practice as an attorney.

Source: centre for Responsive Politics, WSJ

18. Dina Titus (D-Nev)

Net Worth: Between $2,317,057 and $8,435,000

How she earned it: Titus was a member of the faculty in the political science department at the University of Nevada, Las Vegas for 30 years. She was a member of Congress from 2009-2010.

Source: centre for Responsive Politics, Biography, UNLV

19. Ann Wagner (R-Mo)

Net Worth: Between $3,276,087 and $7,446,000

How she earned it: Prior to her involvement in politics, Wagner worked in management positions at Hallmark Cards and Ralston Purina. She advised John Ashcroft's 1994 Senate campaign and was the Missouri GOP chair in 2000. She later served as Ambassador to Luxembourg and worked as a co-chair of the Republican National Committee.

Wagner's husband is a lobbyist for Enterpise Rent-a-Car.

Source: centre for Responsive Politics, Official Bio, TPJ

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