Adam Schiff’s net worth revealed

Adam Schiff is an American politician and lawyer who has served as a U.S. House Representative from California’s 30th district since 2001. A member of the Democrats, he has gained national prominence leading several high-profile congressional investigations. This article will reveal Adam Schiff’s net worth and highlight his public sources of income.

How rich is Adam Schiff?

Adam Schiff graduated from Monte Vista High School and attended Stanford University, earning his B.A. in political science in 1982. He earned his J.D. from Harvard Law School cum laude in 1985.

After graduating from law school, Schiff served as a law clerk for Judge William Matthew Byrne Jr. for a year. Between 1987 and 1993, he acted as an assistant U.S. attorney for the Central District of California. In this role, Schiff prosecuted Richard Miller, a former FBI agent and a spy for the Soviet Union, gaining national prominence.

Schiff first attempted to enter politics in 1994 when he ran for the 43rd district seat in the California State Assembly but lost to James E. Rogan. In 1996, he was elected to the California State Senate, becoming the Senate’s youngest member at 36. In 2000, he was elected to the U.S. House of Representatives from California; he has been reelected 11 times. 

Disclaimer: While we strive to estimate net worth accurately from filings, disclosure rules have shortcomings. Personal residences, certain personal property, and federal retirement accounts are often not reported. Large assets can be listed in broad categories like “Over $1 million” or “Over $50 million,” potentially worth much more. Likewise, state financial forms may omit residential property and liabilities like mortgages.

How did Adam Schiff make his money?

In addition to politics, Schiff has had a long and successful career in law practice. Here’s a summary of the publicly available sources of income that helped build Adam Schiff’s net worth:

• Law practice: Adam Schiff earned his J.D. from Harvard Law School in 1985 and started working as a law clerk. He has prosecuted several high-profile cases, including an FBI agent turned Soviet spy, Richard Miller;
• Politics: As a U.S. House Representative from California, Adam Schiff earns an annual salary of $174,000.
• Book royalties: In 2021, Adam Schiff published Midnight in Washington: How We Almost Lost Our Democracy and Still Could. The memoir delves into the effects of the Trump presidency and debuted at number one on The New York Times best-seller list for non-fiction;
• Investing: According to his financial disclosure reports, Schiff is an active investor who has invested in various financial assets, including Apple Inc. (NASDAQ: AAPL), ETFs and mutual funds, such as Fidelity Puritan Fund (FPURX) and Franklin Growth Opportunities Fund Class A (FGRAX).

Adam Schiff’s assets

Some of the most valuable assets contributing to Adam Schiff’s net worth include:

• UBS – Individual Retirement Account ⇒ Fidelity Puritan Fund (FPURX) – valued between $250,001 and $500,000;
• Franklin Growth Opportunities Fund Class A (FGRAX) – valued between $100,001 and $250,000;
• Franklin Managed Trust Rising Dividends Fund Cl A (FRDPX) – valued between $100,001 and $250,000;
• UBS ⇒ Apple Inc. (AAPL) – valued between $100,001 and $250,000;
• UBS ⇒ iShares Core S&P 500 ETF (IVV) – valued between $100,001 and $250,000.

Insider trading involvement

Adam Schiff has never been accused of insider trading. Furthermore, in January 2023, he was behind a bipartisan bill aimed at preventing members of Congress and their close family from owning or trading individual stocks. 

Who is Adam Schiff?

Adam Bennett Schiff was born in Framingham, Massachusetts, on June 22, 1960. He has a J.D. from Harvard University School of Law and worked as a federal prosecutor in Los Angeles before becoming a politician. A lifelong Democrat, Schiff has gained prominence as a prominent investigator in Congress, notably as the lead manager during President Donald Trump‘s first impeachment in 2019.

Additionally, as chairman of the House Intelligence Committee, Schiff was pivotal in overseeing investigations into possible Russian interference in the 2016 presidential elections. He is an outspoken advocate of human rights, government transparency, and national security.

In 2023, he announced that he would contest the U.S. Senate seat previously held by Dianne Feinstein. If successful, he would become a crucial Californian politician. Additionally, he was a prominent voice within the Democrats to call on Biden to drop out of the 2024 presidential race.

Recommended video: Rep. Adam Schiff calls on Biden to drop out of 2024 race

The bottom line

The California Representative’s solid wealth puts him among the averagely wealthy U.S. Representatives. In fact, according to his 2023 financial disclosure report, Adam Schiff’s net worth is estimated to be between $265,000 and $2 million.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.