Majority of the members of Congress are millionaires for the first time in history.
According to a Center for Responsive Politics examination of financial disclosures, at least 268 of the 534 current Hill lawmakers had a net worth of more than one million dollars in 2012.
The center found that in addition, the median net worth of congressional members topped one million dollars, up from 966,000 dollars last year.
According to Politico, Democrats had a slightly higher net worth than Republicans. The median of Hill Democrats was 1.04 million dollars as compared to one million dollars for Republicans'.
Republican Darrell Issa (R-Calif.), a businessman in the car alarm industry, retook the mantle of wealthiest member of Congress with a net worth of 464 million dollars in 2012, the report added.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app