Issa tops The Hill's 50 Wealthiest

The chief inquisitor of President Obama's White House is now Congress's richest man.

House Oversight Committee Chairman Darrell Issa (R-Calif.) saw his fortune rise to at least $355 million in 2012, enough to take the crown on The Hill's 50 Wealthiest list.

Issa, who made his riches with the Viper car security system, snatched the No. 1 spot away from Rep. Michael McCaul (R-Texas), who came in second with a net worth of at least $101 million.

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Overall, the Republican Party has the edge on The Hill's list for the third year in a row, with 29 of the 50 lawmakers coming from the conservative side of the aisle.

Thirty-seven of the lawmakers on the list are from the House, with the remaining 13 coming from the Senate.

While several high-profile lawmakers are among the wealthiest — including House Minority Leader Nancy Pelosi (D-Calif.) and Senate Minority Leader Mitch McConnellMitch McConnellGOP frustrated by slow pace of Trump staffing Border-adjustment tax proposal at death’s door McConnell on Trump: 'We could do with a little less drama' MORE (R-Ky.) — most of the leading contenders for the White House in 2016 missed the top 50.

Rep. Paul RyanPaul RyanBorder-adjustment tax proposal at death’s door Overnight Healthcare: CBO fallout | GOP senators distance themselves from House bill | Trump budget chief blasts score | Schumer says House bill belongs 'in the trash' Five takeaways from the CBO healthcare score MORE (R-Wis.), the GOP's vice presidential candidate in 2012, reported a minimum net worth of $2.3 million, while conservative star Sen. Ted CruzTed CruzGOP senators distance themselves from House ObamaCare repeal bill Cruz: Jokes about me in Franken's book 'obnoxious' The Hill's 12:30 Report MORE (R-Texas) posted wealth of $1.5 million.


Two other rising GOP stars, Sens. Rand PaulRand PaulPaul: 0B Saudi arms deal ‘a travesty’ Senate feels pressure for summer healthcare vote Overnight Defense: Trump budget gets thumbs down from hawks | UK raises threat level after Manchester attack | Paul to force vote on 0B Saudi arms deal MORE (Ky.) and Marco RubioMarco RubioMcConnell on Trump: 'We could do with a little less drama' Taking the easy layup: Why brain cancer patients depend on it Rubio: 'All options should be on table' if Flynn refuses new subpoenas MORE (Fla.), reported more modest financial means. While Paul's wealth stood at about $455,000, Rubio was in the red with a negative net worth of roughly $190,000.

On the Democratic side, Sen. Mark WarnerMark WarnerFive takeaways from a busy day of Russia hearings Senate Intel panel issues subpoenas to Flynn businesses Overnight Cybersecurity: Flynn refuses to comply with Senate subpoena | Chaffetz postpones hearing with Comey | Small biz cyber bill would cost M | New worm spotted after 'Wanna Cry' MORE (Va.) stood out among possible 2016 hopefuls with a minimum net worth of $88.5 million, good enough for third place on The Hill's list.

Two other Democrats in the 2016 discussion, Sens. Elizabeth WarrenElizabeth WarrenTop Education official resigned over dispute with DeVos: report Trump, Clinton campaign aides launch their own bids Warren rips Trump’s proposed budget cuts to Social Security MORE (Mass.) and Kirsten GillibrandKirsten GillibrandDem senator: 'One of our closest allies' expressed concern about intelligence sharing Intel chief quiet on whether Trump asked him to deny Russia evidence Gillibrand on Trump: 'We should look into obstruction of justice' MORE (N.Y.), fell on opposite ends of the financial spectrum. While Warren reported a portfolio worth at least $3.9 million, Gillibrand was barely in the black with a net worth of $166,000.

The Hill's Wealthiest list bid farewell to some familiar faces this year.

John KerryJohn KerryJohn Kerry channels Yoda in tweetstorm John Kerry goes on tweetstorm as Senate eyes Iran legislation John Kerry's advice to Harvard grads: Learn Russian MORE — a perennial contender for richest lawmaker thanks to his wife's ties to the Heinz ketchup fortune — left the Senate this year to serve as President Obama's secretary of State.

Ex-Sen. Herb Kohl (D-Wis.), owner of the NBA's Milwaukee Bucks and another regular on the list, decided to retire after last year's election.

And the late Sen. Frank Lautenberg (D-N.J.), who was the first full-time salesman for the payroll processing company Automatic Data Processing, died in 2013.

Taking their place are several lawmakers who are serving their first terms on Capitol Hill.

Among the new additions is Rep. Joseph Kennedy (D-Mass.), whose $15.2 million showing continues the tradition of having a wealthy member of the Kennedy clan in Congress.

Other first-timers include Rep. Suzan DelBeneSuzan DelBeneOvernight Healthcare: House held back ObamaCare bill for potential second vote | Lobby groups to watch in health fight | Dems seek meeting with Ivanka Trump on women's health Dems ask to meet with Ivanka Trump on women's healthcare issues Overnight Cybersecurity: Trump launches tech advisory council | Lawmakers offer IT modernization bill | Spending deal boosts DHS cyber funds MORE (D-Wash.), a former Microsoft executive with wealth of at least $23.9 million; Rep. Chris Collins (R-N.Y.), a former businessman with $22.3 million; and Rep. Steve Daines (R-Mont.), a former tech entrepreneur with at least $9.2 million.

Other lawmakers earned a spot on the list after their assets climbed skyward.

Rep. Jim Cooper (D-Tenn.) saw his share in Kentucky and Tennessee farmland and real estate spike, helping to give him a net worth of $8.2 million. Rep. John FlemingJohn FlemingCoast Guard suspends search for missing Ohio plane Freedom Caucus member to bring up bill on impeaching IRS chief GOP seeks to make it 52 MORE's (R-La.) wealth was $10.7 million in 2012 after his holdings in franchise development and properties soared in value.

But it's Issa who stands as king of Capitol Hill, thanks in no small part to the removal of $100 million in liabilities from his balance sheet on his 2012 form.

Issa listed several investment funds among his assets, including some that are worth more than $50 million each. He also has properties valued in the millions of dollars.

Before coming to Congress, Issa was a successful chief executive who founded Directed Electronics and served as chairman of the Consumer Electronics Association.

The runner-up on the list, McCaul, owes much of his wealth to family trusts. His wife, Linda, is the daughter of Clear Channel Communications founder Lowry Mays.

To come up with its rankings, The Hill used financial disclosure forms covering the 2012 calendar year. The reports are not perfect because they provide value ranges instead of exact figures.

The Hill adds up the low figures in each value range for every asset and liability. Then, the sum of a lawmaker's liabilities is deducted from the sum of his or her assets to calculate a minimum net worth.

Some lawmakers provide lengthy bank statements or investment reports with their annual financial statements. The Hill uses exact figures when possible.

The methodology is designed to provide a conservative estimate of a lawmaker's worth, and it's likely that many lawmakers, such as Issa and McCaul, are wealthier than their reports indicate.

Click below to view the slideshow.

— Meredith Bentsen, Amrita Khalid, Mike Lillis, Tianna Mañón, Talia Mindich, Alex Resnak and Katie Tank contributed to this report.

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