U.S. Rep. Chellie Pingree’s personal wealth has swelled over her decade in a half as a Member of Congress, according to her latest financial disclosure.
In 2008, Pingree reported a total networth of between $316,000 and $568,000. Most of her assets were real estate, against which she owed significant liabilities.
In 2022, however, Pingree reported annual income on her investments and business partnerships of between $113,505 and $1,035,000 — that’s in addition to her annual House salary of $174,000, which she has collected for nearly 15 years.
On the asset side, Pingree reported owning stocks, real estate, and business shares worth between $2.67 million and $11.5 million. She reported no debt.
(Note: Financial disclosures for Members of Congress allow them to report ranges of values rather than specific values, which explains the wide gap between possible income and asset values.)
Of particular note on Pingree’s financial disclosure is the up to $1 million in income she continues to receive annually through a business partnership with Paloma Partners, the hedge fund owned by her billionaire ex-husband and Democratic megadonor S. Donald Sussman.
Pingree’s share of her ex-husband’s fund is worth as much as $5 million.
The First District Rep reported receiving no income from her North Haven-based Nebo Lodge, though she did value the property as high as $5 million.
At the same time Pingree has seen her personal fortune grow significantly, the real median income for a household in Maine has grown from $62.2k in 2008 to $75.2k in 2022, according to data from the Federal Reserve Bank of St. Louis.
Although Pingree has done well for herself as a public servant, her Congressionally induced financial prosperity pales in comparison former U.S. Speaker Nancy Pelosi (D-Calif.)
In 2008, Pelosi was worth $38.4 million.
By 2019, some lucky stock market investments saw her net worth rise to more than $114 million.
According to her most recent disclosures, Pelosi is worth as much as $202 million.
It’s called bribery.
Actually, it’s called DC business as usual.
A House representative politician’s net worth increases from about $300k to over $10 million in 15 years! Something is not right.