The annual salary of a U.S. Senator is $174,000, but it’s common for politicians to possess other financial assets. Most Politicians frequently trade in stock and come from either Business or Law backgrounds.
Keeping in line with this, here’s a list of the ten U.S. Senators with the highest net worths.
Senator Mitt Romney
Republican Romney was sworn in as Utah’s Senator on January 3, 2019. His current term ends on January 3, 2025. In US History, he is the second person to serve as Governor and US Senator for multiple states.
He previously ran for President of the United States, once in 2008 and in 2012, losing to former US President Barack Obama in the latter.
He founded the Investment Firm, Bain Capital, in 1984. At present, he has a net worth of almost $250 Million. Much of his wealth comes from his business ventures. According to CapitolTrades, he has not reported any stock trades in the past three years.
Senator Mark Warner
This Democrat from Virginia has a net worth of around $215 Million. He was elected twice to the US Senate, in 2008 and 2014.
In stocks, Warner has traded mostly in Non-Public Equities and REIT. At present, Acumen Pharmaceuticals Inc. (NASDAQ: ABOS) is the only stock present in his portfolio. He purchased $ABOS on June 16, 2021, at a share price of $16.
He is the founder of Columbia Capital, which made successful investments in its early days: XM Satellite Radio and Nextel Communications.
At present, he is seated on the Banking, Housing, and Urban Affairs Committee, Budget Committee, Finance Committee, Rules, and Administration Committee. He is also a member of the Select Committee on Intelligence.
Senator Rick Scott
A Floridian Republican, Scott was elected to the Senate in 2018, ending on January 3, 2025. He has a net worth of roughly $220 Million.
Since 2019, he has traded almost entirely in Securities, particularly in Municipal Securities. The worth of most of these transactions starts from $100,001 upto $1 Million.
He is seated on the Armed Services, Budget, Commerce/Science/Transportation, Homeland Security and Governmental Affairs committees. He is also co-owner of the Texas Rangers Baseball Team.
Senator Dianne Feinstein
This Californian Democrat is one of the most frequent traders on CapitolTrades, with a net worth of $88 Million.
Feinstein has been consistently selling and buying stocks since 2018, but as of 2021, has no newly reported trades. Much of these are by her husband, Richard Blum, an Investment Banker.
In 2021, Feinstein came into question about an unreported trade by her husband. She later stated that she was willing to pay the fine relevant to the transaction. The trade was a purchase of Non-Public Equities in College Reaction LLC on August 3, 2020, which was later disclosed on January 12, 2021.
Among other lawmakers in 2020, Feinstein was also investigated to see whether or not she had traded on insider information. She denied the allegations.
Senator Richard Blumenthal
A Democrat from Connecticut, with a net worth of $82 Million, Blumenthal was elected as a Democrat to the Senate in 2010. He was reelected in 2016, term ending on January 3, 2023.
In 2012, he was among the lawmakers who strongly advocated the passing of the STOCK Act. “This act will block pensions for public officials who illegally exploit their office for personal gain,” Blumenthal said.
He has traded mostly in REIT, but his portfolio also included Private Equity Funds. His last reported trades were of 3G Radar Private Fund and Olo Inc. (NYSE:OLO). Much of his trades have been made by his wife.
Senator James E. Risch
A Republican Party member from Idaho, Risch’s net worth is $42 Million.
He entered politics at the age of 27 in 1970 and later assumed office in 2009. His term will end on January 3, 2027.
Formerly a Rancher and a Lawyer, Risch has no stock trade reported on CapitolTrades. Presently, he is assigned to the Foreign Relations, Intelligence, Energy/Natural Resources, and Small Business Committees.
Senator John Hoeven
With a net worth of around $47 Million, Republican Hoeven is from North Dakota. He sits on the Agriculture, Appropriations, Energy and Natural Resources, and Indian Affairs Committee.
His only trade in 2021 was the sale of Non-Public Equities from Northwest Respiratory Services LLC. The trade’s value was worth $5M to $25M.
Senator Ron Johnson
His net worth of $39 Million can be attributed to being a businessman before entering the world of Politics.
His CapitolTrades page lists two trades: Sale of Municipality Securities worth roughly $100,001 to $250,000 from Wisconsin Health and Educational Facilities Authority. The other was of Private Equity Funds worth up to $25M from Pacur LLC. Both these trades are dated for December 2019, and March 2020.
Trades made by Politicians prior to the COVID-19 induced Lockdown in 2020 also probed an investigation into Johnson’s trading activities. His March 2020 sales of Pacur LLC shares were investigated, but Johnson claimed that the trades were planned from 2018.
Senator Mitch McConnell
A Republican from Kentucky, he has been a senator since 1984. He has a net worth of $34 Million.
The majority of his wealth comes from his father, Addison Mitchell McConnell. He is also a Law Graduate of the 1967 batch, from the University of Kentucky.
As per our data, he has traded solely in the Financials sector in the past 12 months with timely reported trades. The Issuers include Wells Fargo & Co. (NYSE: WFC), Ingersoll Rand Inc. (NYSE: IR), and Vulcan Materials Co. (NYSE: VMC). The stock prices of all these companies have risen significantly in the past year.
Senator Rob Portman
The Republican from Ohio has a net worth of $10.8 Million. He has not reported trades since 2018.
In 2012, he voted in favor of the STOCK Act. “Members of Congress and their staff are not above the law, and the STOCK Act ensures that those who abuse their knowledge of inside information will be held accountable,” Portman was reported to have said.
He owns a significant chunk of Lebanon House Inc. which in turn owns the Golden Lamb, a Restaurant/Hotel in Ohio that has hosted many Political guests since 1803.
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