By Kevin Bogardus and Megan R. Wilson - 08/21/12 09:00 AM EDT
Rick Berg’s personal fortune rose $1.2 million in 2011 as he held his own among the richest members of Congress. In June, the congressman issued an amendment to last year’s form, adding another $1 million to his minimum net worth in 2010.
Much of the congressman’s wealth comes from North Dakota farmland that he owns with his wife through real estate investment companies. The couple has more than $1 million invested in farmland, $500,000 in cattle and $500,000 in “ranch equipment,” in addition to a minimum of $15,000 invested in residential land.
The congressman, who is running for the Senate this year against Democrat Heidi Heitkamp, reported over $1 million in liabilities, including at least $800,000 in business and real estate loans, a farm equipment loan and a farm line of credit, worth at least $15,000 each.
- Julie Ershadi