11. Rep. Michael McCaul (R-Texas)
$23.93 million
The Lone Star State lawmaker saw his wealth increase by more than $6 million in 2007, largely thanks to his wife's investment in a San Antonio real estate partnership.
According to his disclosures, Maychild Ltd. increased in value to at least $5 million, adding $4 million to his minimum net worth under Roll Call's evaluation method. In 2006, McCaul listed the real estate partnership, which owns a mix of commercial and residential properties, in the $1 million to $5 million range.
Together with his wife and family, McCaul also invests at least $12.1 million in Clear Channel Communications, the company founded by his father-in-law, Lowry Mays. The McCauls also list nearly $1 million invested in Live Nation, a Clear Channel spinoff.
The Texan lists no debts.
Must be nice to make so much money when everyone else in the country is struggling.
28. Rep. Kenny Marchant (R-Texas)
$10.49 million
In 2007, Marchant exchanged several ranch properties for a partnership interest in Bonita Lands and Cattle, a group that holds 3,500 acres, plus cows and equipment. Bonita became the largest asset on his disclosure form for 2007, valued at $5 million to $25 million.
Marchant's other major assets are rolled into a family partnership called Marken Interests Ltd. The partnership holds 73 acres in Ft. Worth, Texas, which Marchant values at $1 million to $5 million, plus mineral rights and a wide array of stocks.
Marchant also lists more than $3 million in liabilities, but several of those items are mortgages that appear to have been paid off or assumed by Bonita, which would suggest that his net worth has already risen over the total reported on his latest financial disclosure form.
32. Rep. Lloyd Doggett (D-Texas)
$8.38 million
Since Members of Congress are required to report only properties that are producing income, it is not uncommon to see assets hop on or off Members' disclosure forms from year to year when they start or stop renting them. Doggett appears to be a case in point: An Austin, Texas, property that was not reported in 2006 appears on his 2007 form with a value of $100,000 to $250,000, producing $5,000 to $15,000 in income. There is no reported transaction, which suggests that Doggett already owned it but began renting the "garage apt" last year.
His other holdings, which showed a solid increase over the prior year, include investments of at least $500,000 in several Vanguard investment funds, as well as Whole Foods Market Inc.
48. Rep. Randy Neugebauer (R-Texas)
$5.50 million
A developer before he came to Congress, Neugebauer remains active in land and real estate dealings. According to his disclosure forms, in 2007 he sold properties valued at a minimum of $180,000 and bought properties worth at least $317,000, and he holds a passel of other properties, including a D.C. town house. He also bought $1 million to $5 million in U.S. treasury bills last year.
One more notable:
13. Sen. John McCain (R-Ariz.)
$19.64 million
McCain's true value is impossible to estimate because most of the major assets are listed in the name of his wife or children, thereby requiring far less detailed disclosure. Other news outlets have suggested that Cindy McCain's net worth may exceed $100 million, but there is no documentation to prove that figure.
McCain's disclosure form lists 12 items with values of "over $1 million" that are owned by his wife and children. In 2007, the family liquidated a trust set up by Cindy McCain's late mother that had a reported value in 2006 of more than $2.5 million. The proceeds were then distributed to three other trusts, which show a minimum value of $1.4 million. Cindy McCain also liquidated a blind trust in 2007, selling millions of dollars worth of stock, and the reported value of the stock she owns through Hensley & Co. - her family's beer distributorship - dropped more than $4 million in value last year.
The only assets McCain claims as his own are a checking account with a balance of $15,000 to $50,000, a money market fund worth less than $15,000 and several book deals.
As many of you will recall, the issue of full disclosure by the spouse of a major party nominee for Pres/VP came up in 1984 with Ferraro. It is yet to be seen if the Obama campaign and the media will force the issue to the forefront for Cindy McCain. |
