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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 McConnellAddison (Mitch) Mitchell McConnellOn The Money: Biden, Senate GOP take step toward infrastructure deal as other plans hit speed bumps Senate GOP to give Biden infrastructure counteroffer next week Masks shed at White House; McConnell: 'Free at last' MORE (R-Ky.) — most of the leading contenders for the White House in 2016 missed the top 50.

Rep. Paul RyanPaul Davis RyanBiden's relationship with top House Republican is frosty The Hill's Morning Report - Presented by Emergent BioSolutions - Facebook upholds Trump ban; GOP leaders back Stefanik to replace Cheney Budowsky: Liz Cheney vs. conservatives in name only 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 CruzRafael (Ted) Edward CruzSenate panel deadlocks over Biden pick to lead DOJ civil rights division Yang: Those who thought tweet in support of Israel was 'overly simplistic' are correct CNN asks Carol Baskin to comment on loose Texas tiger MORE (R-Texas) posted wealth of $1.5 million.


Two other rising GOP stars, Sens. Rand PaulRandal (Rand) Howard PaulFauci on Rand Paul: 'I just don't understand what the problem is with him' Buckingham Palace requests 'Trump Train' remove image of queen from bus The Hill's Morning Report - Presented by Facebook - Cheney poised to be ousted; Biden to host big meeting MORE (Ky.) and Marco RubioMarco Antonio RubioStudy: Early unemployment cutoff would cost 16M people 0B The Hill's Morning Report - Presented by Facebook - Cheney poised to be ousted; Biden to host big meeting Senate votes to repeal OCC 'true lender' rule 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 Robert WarnerBiden signs executive order to improve federal cybersecurity Overnight Defense: Former Pentagon chief to testify about Capitol riot Wednesday | Senate Intelligence chairman wants Biden to review US Space Command move Wyden: Funding infrastructure with gas tax hike a 'big mistake' 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 WarrenWarren says Republican Party 'eating itself and it is discovering that the meal is poisonous' Briahna Joy Gray: Warren not endorsing Sanders in 2020 was 'really frustrating' McConnell hits Democratic critics of Israel MORE (Mass.) and Kirsten GillibrandKirsten GillibrandOvernight Defense: Military sexual assault reform bill has votes to pass in Senate l First active duty service member arrested over Jan. 6 riot l Israeli troops attack Gaza Strip Military sexual assault reform bill has votes to pass in Senate Army secretary nominee concerned about 'unreasonable or unhelpful demands' on National Guard 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 KerryBiden's climate policies: Adrift in economic and scientific fantasyland The Hill's Morning Report - Presented by Facebook - Biden expresses optimism on bipartisanship; Cheney ousted Watch live: John Kerry testifies on climate change 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 Kay DelBeneDemocrats signal House bill to go further than Biden proposal on child tax credit Democratic scramble complicates Biden's human infrastructure plan NIH reverses Trump administration's ban on fetal tissue research 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 Calvin FlemingLobbying world Trump wants Congress to delay Census deadlines amid pandemic Meadows sets up coronavirus hotline for members of Congress 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.

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