Report names Congress' richest, poorest

Watchdog group lists financial info of House, Senate members

Publication: Charlotte Observer

Greg Gordon McClatchy Newspapers
May 14, 2008

WASHINGTON --Hillary Clinton's average net worth, adjusted for inflation, grew from negative $6 million to $30.7 million between 2000 and 2006, the fastest financial climb in recent years for any member of Congress who started out with no assets, a political watchdog group reported Tuesday.

The report, from the nonpartisan Sunlight Foundation, listed U.S. Rep. Robin Hayes, R-N.C., as the wealthiest of the Carolinas' members of Congress -- and eighth-wealthiest among all House and Senate members.

Arizona Sen. John McCain, the presumptive Republican presidential nominee, reported a $27.6 million surge in his average net worth -- the midpoint between the lowest and highest ranges of his and his wife's assets listed on his Senate financial disclosure forms -- from 1995 to 2006. He and wife Cindy rose from an average net worth of $8.9 million to an average of $36.4 million, the ninth fastest biggest upward move in Congress.

Illinois Sen. Barack Obama's estimated net worth rose from $328,442 in 2004 to $799,006 in 2006, according to the foundation. The organization posted on its Web site the first-ever analysis of the 535 House and Senate members' net worth in inflation-adjusted 2006 dollars over as many as 11 years.

According to the report, Rep. Jane Harman, D-Calif., is Washington's wealthiest lawmaker, with a net worth estimated at $409.4 million, followed by California Republican Rep. Daryl Issa at $337.4 million and Massachusetts Sen. John Kerry, a Democrat, with a fortune estimated at $267.8 million.

At the bottom is Florida Democratic Rep. Alcee Hastings, with an estimated net worth of minus $4.7 million. Freshman Tennessee Republican Sen. Bob Corker's average net worth slid from $78.1 million to a negative $1.8 million. Freshman Republican Rep. Vernon Buchanan of Florida reported an average net worth of $277.8 million in 2005, but it fell to $191.7 million in 2006.

For the report: http://fortune535.sunlightprojects.org.

Hayes ranks 8th

Rep. Robin Hayes, R-N.C., of Concord, led the Carolinas list among wealthiest members of Congress. His average net worth was estimated at $82,552,100. That is eighth-highest in the House and Senate. Second-highest among the Carolinas' representatives was Sen. Elizabeth Dole, whose average net worth of $43,867,100 was 13th-largest overall.

Rep. Mel Watt of Charlotte ranked ninth among N.C. congressional members, with $932,027. Rep. Sue Myrick of Charlotte was 13th, with a value of $188,503.

Rep. John Spratt of York was No. 1 among South Carolina's eight members of Congress, with an average net worth of $7,819,510