A Closer Look At Speaker Candidates' Personal Wealth
Rundown Of Jordan, McHenry, McCarthy and More...
While The World Burns, Democracy Stalls…
As we enter a new week in D.C. still without an empowered, permanent speaker of the House, let’s check in on the personal wealth of some candidates floating around the race or who “dropped out” for now. A reminder to become a paid subscriber to access the detailed profiles of each member.
#1* Jim Jordan: $200k min. net worth
Currently on the nominating block, Ohio Republican Jim Jordan earned at least $100k in book royalties last year. His “Fighting for Freedom in The Swamp” subtitled book and persona is a pretty long war from the inside considering he is currently serving his ninth consecutive term in the U.S. House. A career public servant — which is an admirable trait in this writer & fellow Ohio State & Glenn College alumni’s perspective — Jordan’s personal wealth is derived mainly from government salaries and at least four state and federal pensions in his household.
#1* Kevin McCarthy: $200k min. net worth
Former Speaker Kevin McCarthy’s personal wealth is relatively modest for a member of Congress, which is unsurprising considering how much effort he invests into political fundraising — his wife is even on the payroll of their home state of California’s Republican party as a fundraiser. McCarthy holds some federal student loan debt, so maybe he should have brought legislation supporting Biden’s student loan forgiveness to the floor of the House while he controlled it.
#3 Tom Emmer: -$85k min. net worth
Rep. Tom Emmer’s portfolio is probably most like the average, middle-class U.S. resident with simply one retirement account worth at least $15k and a mortgage of at least $100k. He also divested some assets like a rental property since being elected to Congress a decade ago.
#4 Steve Scalise: -$350k min. net worth
Currently second in House Republican leadership, Majority Leader Steve Scalise has triple the amount of liabilities than assets. The long-term politician and his wife hold a mortgage, a second mortgage, and a personal loan with a debt totaling at least $365k.
As someone with chronic and rare illnesses that have bankrupted me in the past, I hope Scalise purchased a good health insurance plan from the exchange for himself as he continues his battle with multiple myeloma, a cancer of the plasma cells that I’ve seen family friends bravely fight. Thankfully, the federal governement aka taxpayers can cover about 72% of the premium — maybe making quality, universal health care subsidized for all U.S. residents should be a reality.
#5 Patrick McHenry:-$585k min. net worth
Interim Speaker Patrick McHenry has a long history of expanding his personal real estate investments. Although nothing like Sen. Blumenthal’s real estate portfolio, McHenry owns two rental properties in his hometown of Gastonia as well as a $100k mortgage. His net worth is dragged down by the at least $1 million mortgage that he and his wife, an FCC executive owe on their DC residence.
