The Hill’s 50 Wealthiest lawmakers

Buchanan saw yet another dive in his net worth, slipping from $41.8 million in 2010 to $36.5 million in 2011.

The decline continues a downward trend in the entrepreneur-turned-congressman’s portfolio. His net worth stood at more than $50 million in 2008.

The three-term Florida Republican made his fortune at first growing a printing company franchise and later entering the auto dealership business.

The congressman’s decline is partly attributed to his assets decreasing in value. In 2010, Buchanan had eight assets valued at at least $5 million each, while in 2011 there were only seven. Among his largest listed assets is a personal loan to Habitat for Humanity for the sale of a Florida property worth at least $1 million.

Though Buchanan’s total assets amount to more than $63 million, he has also racked up close to $26.8 million in debt — including several mortgages, a mortgage for a yacht and financing for the purchase of three jets.

A few of his debts fluctuated from last year, and two new liabilities included at least $150,000 in “professional fees” to two prominent law firms. Buchanan was under investigation by the House Ethics Committee for allegedly misleading Congress about his finances. The panel cleared him of those allegations earlier this year.

- Megan R. Wilson

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