Thanks to cheaper gas, Tennessee Gov. Bill Haslam (R) is now the richest elected official in America, Forbes reports. Haslam’s net worth has more than doubled within 6 months from $US980 million to an estimated $US2 billion.
Haslam, 56, is heir to the the truck stop chain Pilot Flying J and currently own 15% of the company which made $US38 billion in sales, according to Forbes. Naturally, roadside gas stations earn better profit margins during lower oil prices since more people are filling up their tanks.
In comparison, Haslam’s wealth also surpasses the combined wealth of all of Tennessee’s 9 federal lawmakers:
Haslam’s wealth also exceeds that of California Republican Rep. Darrell Issa, who is the richest member in Congress, with a net worth of $US357 million, according to Roll Call.
Pilot Flying J reportedly came under fire in 2013, when the FBI investigated whether the company shortchanged trucking firms on gasoline rebates. Haslam’s older brother Jimmy, who is the owner of the Cleveland Browns, was CEO of the company at the time. Pilot Flying J ultimately struck a deal with the Department of Justice to pay $US92 million in fines to avoid criminal charges.
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