Dollars and Decisions: The 15 Richest Republicans on Capitol Hill

When we vote for members of Congress, we expect them to represent us and relate to us in some way, shape, or form to fight for our rights and issues. However, the reality is that most people who end up in positions of power have no idea of the struggles normal society faces. The richer someone is, the more they are removed from reality.

Business Insider recently conducted an investigation to find the wealthiest members of Congress, and these 15 top the list for the Republicans. 

1. Rick Scott

Rick Scott is a Republican Senator representing Florida, a position he has held since January 2019. With an estimated net worth of $200.3 million, Rick Scott, who holds at least 463 assets per his 2018 disclosures, ranks as the wealthiest Republican. He has a significant investment portfolio in securities and real estate. He notably engaged in a financial dispute with Mitch McConnell during the 2022 midterm elections.

2. Michael McCaul

McCaul is a Republican Congressman from Texas, representing the state's 10th congressional district. He has faced scrutiny for potential conflicts of interest, such as trading IBM and Accenture stocks while serving on the House Homeland Security Committee, trading UPS shares following a congressional hearing involving a UPS executive, and trading Meta investments during congressional investigations into the company's handling of misinformation. His estimated net worth stands at $125.9 million.

3. Darrell Issa

With a background in business, Darrell Issa co-founded Directed Electronics, a car alarm manufacturing company, before entering politics. He is currently the Republican representative for California. In 2015, he held the title of wealthiest member of Congress due to his business dealings. He faces scrutiny from the Department of Justice for potential ties to the Fortenberry scandal, and his net worth is $115.9 million.

4. Vern Buchanan

Representative Vern Buchanan from Florida, with an estimated net worth of $113.4 million, faced four investigations in 2012 during his third term, probing potential illegal or unethical business practices and campaign finance issues, though he was ultimately not found guilty. Buchanan's business background mainly stems from his ownership of numerous car dealerships. 

5. Mitt Romney

Mitt Romney, the Senator from Utah with an estimated net worth of $85.3 million, faced criticism during his 2012 presidential run due to his wealth, primarily accumulated during his tenure in private equity at Bain & Company in the 1990s. He continues to have substantial investments in Bain and receives significant retirement benefits.

6. Roger Williams

Before entering politics, Williams had a successful career as a businessman and entrepreneur. Williams founded a thriving car sales dealership franchise, contributing significantly to his estimated net worth of $67.4 million. He also has about 18 million in real estate investments. 

7. Jay Obernolte

Representative Jay Obernolte, hailing from California with an estimated net worth of $39.3 million, serves on both the House Committee on Natural Resources and the House Committee on Science, Space, and Technology, with significant campaign support from donors including Esri, a Chicago-based GIS software developer, and Karem Aircraft.

The Republican Congressman has a background in technology and entrepreneurship, having founded a software development company before entering politics.

8. Kevin Hern

Representative Kevin Hern, representing Oklahoma and with an estimated net worth of $26.8 million, has faced scrutiny over potential conflicts of interest, including selling shares in oil and gas companies while on a related subcommittee and purchasing significant shares in UnitedHealth Group while serving on the House Ways and Means Committee, responsible for overseeing Medicare issues. He made most of his wealth from owning 24 McDonald's franchises. 

9. John W. Rose

Tennessee Representative John Rose, with an estimated net worth of $23.4 million, divested all his holdings in three banks while serving on the House Financial Services Committee, probing misconduct allegations involving Wells Fargo, one of the banks in which Rose had investments. Before his congressional tenure, he was Tennessee's Commissioner of Agriculture. He served as the President of Boson Software, LLC. 

10. Ralph Norman

Congressman Ralph Norman is a Republican representative serving South Carolina's 5th congressional district. With an estimated net worth of $20.7 million, he demonstrated a substantial investment in the commercial banking industry in 2018, surpassing his investments in other sectors of the economy. In the summer of 2022, he was appointed to the House Financial Services Committee.

11. William Hagerty

Bill Hagerty, Senator for Tennessee, allegedly violated the STOCK Act when he reported three individual stock trades after the federal disclosure deadline during the summer of 2022. The sales of Signature Bank stock from the trusts he holds for his dependent children are worth between $5,000 and $150,000. Hagerty's net worth is $19.8 million.

12. James Risch

James Risch has represented Idaho since 2009 and has held various positions, including serving as the Senate Foreign Relations Committee Chairman. The Senator has an estimated net worth of $18.9 million and a significant portfolio of real estate investments, with his top four most considerable assets valued between $12 million and $60 million. Finance, insurance, and real estate constitute the third-largest funding category for Risch's political campaigns.

13. John Hoeven

John Hoeven is a Senator from North Dakota, representing the state since 2011. He has played a role in various legislative efforts related to agriculture and energy. With an estimated net worth of $17.8 million, Hoeven has faced several conflict of interest concerns in recent years. These issues include investments in a health sciences fund following a COVID-19 briefing, ownership of a bank while involved in a government lending program, and acquisitions in oil and power companies while serving on two energy-related committees. 

14. Ron Johnson

Ron Johnson has represented Wisconsin since 2011 and has an estimated net worth of $17.0 million. He faced challenges during the 2022 midterm elections. Democrat-aligned groups ran advertisements alleging that he was profiting from Chinese investments, referencing a report from The Guardian. Despite this scrutiny, Johnson secured reelection in Wisconsin by a narrow margin of approximately 27,000 votes.

15. Mitch McConnell

Mitch McConnell, the Senator from Kentucky with an estimated net worth of $14.4 million, saw a significant increase in his wealth in 2008 following a substantial monetary gift from his wife Elaine Chao's father following her mother's passing. Since then, the combined wealth of McConnell and Chao has grown nearly tenfold, reaching approximately $30 million.