City Paper is not for tourists
DCist’s Benjamin R. Freed pulls out the details of D.C.’s Del. Eleanor Holmes Norton’s personal wealth:
The Post tabulated her personal wealth as $1,697,521 in 2009, good for 176th highest on the list of 518 current and former House members.
Norton’s 2009 financial disclosure, obtained from Legistorm.com, shows that in addition to her $174,000 salary, she drew income from a “retirement fee” from Pitney Bowes Inc. (she served on its board of directors) and a teaching gig at the Georgetown University Law Center. She also reported several transactions made on a portfolio of mutual funds and bond holdings.
Pitney Bowes paid Norton $12,000. For her class at Georgetown, she received $10,200. In her 2010 disclosure, Norton again reported those income streams at the same levels, in addition to payments on a pair of individual retirement accounts totaling $8,793. Altogether, Norton earned $30,993 outside of Congress last year, according to OpenSecrets.org.
Among Norton’s financial holdings are stakes in funds administered by a variety of wealth-management companies, including Blackrock, John Hancock, MetLife and Janus. She also holds positions in municipal bonds in San Diego, Illinois and Seminole County, Fla. OpenSecrets calculated her total assets as between $909,038 and $2,536,000 in 2009. (Disclosure rules only require members of Congress to write down ranges rather than specific amounts.) Based off her 2010 disclosure, which is posted at the bottom of this article, Norton’s net worth was between $898,043 and $2,497,000, good for 147th among current House members.
So, $1,697,521 clearly puts Norton in the top tier of American wealth. Still, this number struck me as rather low, considering her level of educational attainment, age, and outside work. Meanwhile, the Post reports that Darrell Issa, the guy in Congress who’s responsible for most meddling in District affairs, is the richest member of Congress, with a personal wealth of nearly $450 million.
And if, like me, you were curious about the poorest member of Congress, that would be Alcee L. Hastings, a Florida Democrat who owes $4 million in lawyer fees from various legal dramas dating back to the 1980s, according to the Tampa Bay Times.
Photo by Darrow Montgomery