Recent weeks have brought much debate about Alexandria Ocasio-Cortez’s (AOC) net worth, with posts claiming that she accumulated more than $29 million since becoming an elected U.S. congresswoman in 2019.
The mentioned posts usually cite CAknowledge.com as a source of information. On March 23, the site released a report claiming that her net worth exceeds $29 million.
However, since then, the claims have been debunked as false, most notably by a Reuters Fact Check article on August 9.
How rich is AOC?
According to her latest financial disclosure in 2021, AOC holds between $3,003 and $45,000 in assets, including a 401k pension plan, and owes around $15,000 in student debt.
Further examination of her assets reveals that she holds between $1,001 and $15,000 in a checking account, around $1,001 and $15,000 in a brokerage account and that she invested up to $15,000 in her 401k pension plan.
Has AOC made any stock trades?
Since assuming office in 2019, the Democratic Congresswoman from New York hasn’t recorded any stock trades.
Conversely, Ocasio-Cortez partnered with their Republican colleague, Congressman Matt Gaetz, to introduce a “Bipartisan Restoring Faith in Government Act” on April 28, 2023, aimed at preventing members of Congress from investing in securities, such as stocks and bonds, or commodities such as oil.
Instead, politicians would be forced to place their investments in a “blind trust,” which would operate on information not obtained by insiders, or divest from their investments no more than 90 days after the bill is signed into law.
In case of failing to comply, U.S. politicians would face penalties of up to $50,000.
However, according to the bill progress tracker from the official Congress site, the bill still awaits a House vote despite being introduced more than a year ago.
Source: https://finbold.com/is-aoc-worth-29-million-or-broke-u-s-representatives-portfolio-revealed/