Scott WartmanCincinnati Enquirer
If you're a member of Congress, chances are, you're doing pretty well financially.
More than half of the members of Congress are millionaires, according to a 2020 report from Opensecrets.org.
At least seven of the 12 people who represent Greater Cincinnati or are running to represent the region have an estimated net worth of more than a million, based on an Enquirer analysis of the most recent annual financial disclosure reports. (We're counting Ohio and Kentucky's U.S. Senators, four House members and their challengers.)
It's not the annual congressional salary of $174,000 that makes them rich.
They've made their money in a variety of ways: concrete, inheritance, a bestselling memoir, an off-the-grid farm, real estate and various other investments.
Much of the wealth disclosed on the reports come from stocks, retirement packages and other investments.
Estimating wealth of senators and House members isn't exact, as the financial disclosure reports allow the elected officials and candidates to give a range of values for their assets and liabilities.
The most recent reports filed by sitting members of Congress were filed in 2023 to estimate their wealth in 2022. Candidates running this year filed their report estimating their 2023 wealth.
Bernie Moreno would top the wealthy list
Bernie Moreno's investments in cars, real estate and technology companies allowed him to amass a fortune between $28.8 million and $110 million, according to his financial disclosure report filed in 2023. If he beats Democratic Sen. Sherrod Brown in November, the Cleveland-area Republican would become the wealthiest member of the delegation that represents the Cincinnati region.
Moreno, 57, owns land in Costa Rica valued between $1 million and $5 million. He listed a home in Ocean Reef, Florida, worth between $5 million and $25 million, of which he has a 43% stake.
David Taylor's concrete empire
Amelia Republican David Taylor would become one of the wealthier members of Congress from the region if he wins in November.
Based on his financial disclosure reports, his estimated wealth between $7 million to $31 million puts his personal fortune second only to Mitch McConnell's among the delegation representing the Cincinnati region. He would be the third wealthiest if Republican Senate candidate Bernie Moreno wins in November.
He's the heavy favorite to win in the fall against Democrat Samantha Meadows to become the next representative of the 2nd Congressional District, which stretches just east of Cincinnati over suburbs, farmland and industrial towns where the median household income is about $61,600. Trump won the district in 2020 by a 3-to-1 margin. The current representative, Rep. Brad Wenstrup, a Republican from Hillsboro, is retiring.
Taylor, 54, made his money in the concrete business. Since 1999, he's owned Sardinia Ready Mix Concrete, with his stake valued at between $5 million and $25 million in Taylor's financial disclosure report filed in March. The assets in his 401k with Sardinia were valued between $1.7 million and $4 million.
Where did Mitch McConnell get his wealth?
Senate Minority Leader Mitch McConnell, 82, is the richest of any congressional member representing the Greater Cincinnati region. His net worth was between $15 million and $62 million in 2022, based on the most recent report he filed in May 2023. The Louisville Republican also represents Northern Kentucky as Kentucky's senior senator.
Much of his fortune derives from his marriage to Elaine Chao, the daughter of a shipping magnate James Chao. Elaine Chao and McConnell received an inheritance valued between $5 million and $25 million in 2007 when her mother died,the Washington Post reported.
'Hillbilly Elegy' and venture capital
Prior to becoming a senator and possible vice presidential candidate, J.D. Vance'sbestselling memoir "Hillbilly Elegy" made him into a national celebrity. The book, also made into a Netflix movie, netted him $121,376 in royalties, based on the report Vance filed in October 2023.
Vance's writing doesn't pay as much as his business investing. Vance reported $945,000 in income in 2022 from Narya Capital, an Ohio-based venture capital firm he founded in 2020 with an investment from Republican megadonor and Paypal founder Peter Thiel.
He also owns $100,000 to $250,000 in stock for Rumble, an online video platform the New York Times described as "a leading destination for conservative content by positioning itself as a platform for unfettered speech."
All told, Vance is worth between $4.4 million and $10.7 million, according to his most recent report for 2022 filed in October 2023.
Democrats net worth ranked at the bottom
The two Democrats representing the Cincinnati region in Congress ranked at the bottom of the wealth list for the region's members of Congress.
Rep. Greg Landsman, a Democrat from Mount Washington, reported a net worth between $69,000 and $1.3 million with at least $125,000 to $650,000 of that coming from his wife's individual retirement account.
Sen. Sherrod Brown, of Cleveland, was the only one of the elected members of Congress for the Cincinnati region whose maximum net worth wasn't above $1 million. Brown's net wealth is estimated between $14,000 and $976,000, based on his financial disclosure report filed in August 2023.
Massie's off-the-grid farm worth millions
Rep. Thomas Massie doesn't blend in on Capitol Hill. The Republican drives a Tesla from his off-the-grid farm in Lewis County, Kentucky, to the Capitol. Once there, he is often the lone "no" vote on measures, earning him the nickname "Mr. No." He's challenged the leadership in his own party, most recently leading a failed effort with Georgia Rep. Marjorie Taylor Greene to oust Speaker of the House Mike Johnson.
His off-the-grid farm in the rural town of Garrison, Kentucky, is worth $1 million to $5 million, which makes up a bulk of his net wealth, valued at between $846,000 and $4.6 million. The house, which he built himself, is powered by solar panels that in turn feed into a salvaged battery from a wrecked Tesla.
He also owns $15,000 to $50,000 in Tesla stock.
What about the House challengers?
- The financial worth for two Democratic challengers wasn't clear. West Chester Democrat Vanessa Enoch, who is challenging Republican Warren Davidson in the 8th Congressional District for the third time, hasn't filed a report since 2020, according to financial disclosure records. That report showed she made $49,492 the year before from a consulting firm. She had between $200,000 and $500,000 in student loan debt.
- Samantha Meadows, a Democrat from Scioto County, is running for the open seat in the 2nd Congressional District against Taylor. When she ran for the seat in 2022 against Wenstrup, she filed an exemption saying she didn't raise or spend the $5,000 for her campaign needed to meet the threshold requiring financial disclosure. The U.S. House did not have any additional financial disclosure filings for Meadows.
- A Republican challenger, Orlando Sonza, reported $100,000 to $250,000 in student loan debt on his financial disclosure report submitted in May. Sonza, 33, of Springfield Township, is challenging Democrat Greg Landsman in the 1st Congressional District.
- Northern Kentucky's Massie does not have a Democratic challenger.
