In an effort to be transparent and prevent conflicts of interest, government law requires many federal elected officials to file an annual financial disclosure statement that discloses their assets, investments, and business interests. Senators are among the people who must make these disclosures. Their statements are made available to the public and can give a good idea of ​​the financial standing of their filers. However, many senators earn much more from other sources and have high net worth. Many of them started their careers in business and made most of their fortunes before joining the political world. Here, we take a look at the list of ten richest senators as of 2024 in the 118th Congress. Real estate, private companies, debt, and other liquid assets are not included, which can have a significant impact on senators’ net worth.

1. Rick Scott (R – Florida)

MILWAUKEE, WI – JULY 16: US Sen. Rick Scott (R-FL) speaks on stage during the second day of the Republican National Convention at Fischer Forum on July 16, 2024 Chip Somodevilla/Getty Images Scott’s estimated net worth is over $327 million as of 2024. Florida Sen. Rick Scott began his career in business, where he made the bulk of his fortune. He created one of the largest hospital networks called Columbia Hospital Corporation.

2. Mitt Romney (R – Utah)

Washington, DC – February 11, 2024: Sen. Mitt Romney (R-UT) leaves the Senate floor.Roberto Schmidt / Getty Images In 2012, the failed Republican presidential candidate, Sen. Romney needed no introduction. The U.S. senator from Utah is the second richest senator, with a net worth of $246 million.

3. Mark Warner (D – Virginia)

Washington, DC – July 10, 2023: US Sen. Mark Warner (D-VA) speaks during a press conference at Ronald Reagan Washington National Airport Sen. Mark Warner of Virginia is one of the wealthiest members of the US Senate and indeed the entire Congress. Based on his annual disclosure, his net worth is around $195 million.

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4. Pete Ricketts (R – Nebraska)

WASHINGTON, DC – OCTOBER 31: US Sen. Pete Ricketts (R-NE) attends a news conference on the southern border at the US Capitol on October 31, 2023 in Washington, DC. According to Quiver Quantitative, Ricketts has an estimated net worth of $161 million.

5. Markwayne Mullin (R – Oklahoma)

Washington, DC – February 07: Sen. Markwayne Mullin (R-OK) arrives at a luncheon with Senate Republicans at the U.S. Capitol in Washington, DC on February 7, 2024.After serving five terms in the House of Representatives, Markwen Mullin was sworn into the Senate in 2023.It is believed that he is worth $63 million.

6. John Hoven (R – North Dakota)

WASHINGTON, DC – May 03: Sen. John Hoven (R-ND) questions US Defense Secretary Lloyd Austin and Chairman of the Joint Chiefs of Staff General Mark Milley as they testify before a Senate Appropriations Committee subcommittee on defense, Sen. John Hoven answers from 2011 Served as senior US Senator from Dakota. Prior to this, he was the governor of the state for 10 years. Hoven’s net worth is estimated at $59 million.

7. Bill Haggerty (R – Tennessee)

Senator Bill Haggerty, a Republican from Tennessee, during an interview during the Republican National Convention (RNC) in Milwaukee, Wisconsin, U.S., Tuesday, July 16, 2024. Haggerty made his money in business.He worked for the Boston Consulting Group before going into venture capital and making investments in new businesses to grow his wealth. An estimate of his net worth for 2024 is $55 million.

8. Ron Johnson (R – Wisconsin)

Senator Ron Johnson of Wisconsin began his career at his brother-in-law’s polyester and plastics manufacturing company, PACUR, in the late 1970s as an accountant.

He rose through the ranks and became the company’s CEO in the mid-80s. The estimated net worth of Sean Johnson is $54.13 million.

9. James E. Risch (R – Idaho)

WASHINGTON, DC – MAY 09: Sen. James Risch (R-ID) speaks at a press conference with fellow Republican senators at the US Capitol on May 09, 2024 in Washington, DC. In response to the White House’s warning that it would cut off some weapons supplies to Israel,

James Risch has been Idaho’s junior senator since 2009.

10.Senator Dianne Feinstein

The Californian Democrat is one of CapitolTrades’ most frequent traders, with a net worth of $88 million. Feinstein has been consistently buying and selling stocks since 2018, but as of 2021, there have been no new transactions. Most of these are her husband Richard Blum, an investment banker.

Conclusion

When examining the wealth of members of the US Congress, it becomes clear that a significant disparity exists between their official salaries and their accumulated wealth.Despite the fact that working in Congress pays well, the exponential rise in wealth among legislators raises moral concerns about the causes and effects of their riches.