In case you’re curious about Ed Markey’s net worth, you’ve come to the right place. In this article, we explore the Massachusetts senate representative’s finances by going through his assets, investments, and all other relevant information.
Who is Ed Markey?
Ed Markey is a seasoned American politician who has been serving as the junior United States senator from Massachusetts since 2013. Born in Malden, Massachusetts, Markey has been a prominent figure in US politics for decades. Before his tenure in the Senate, Markey represented Massachusetts’s 5th congressional district in the US House of Representatives from 1976 to 2013.
Ed Markey’s net worth
According to OpenSecrets, Ed Markey’s net worth in 2017 was approximately $819,507. However, based on his annual report for the year 2023, Senator Markey’s actual net worth is somewhere between $1,862,019 and $3,815,998.
Disclaimer: Estimating a lawmaker’s net worth is challenging because disclosure forms do not mandate exact values. Instead, lawmakers report the value of their assets and liabilities within specified ranges. While we strive to accurately estimate net worth 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. Additionally, most Members of Congress earn $174,000 annually, but this isn’t required to be disclosed.
How did Ed Markey make his money?
Senator Ed Markey has a diverse range of income sources, including a Senate salary, a pension, some investments, and book royalties and speaking engagements. Here’s a brief overview of each of these:
- Congressional salary: As a US senator, Markey earns an annual salary of $174,000. Before that, as a member of the House of Representatives, he earned slightly less but still maintained a substantial income;
- Pension: After serving decades in Congress, Markey is entitled to a significant pension, which adds to his net worth;
- Investments: Markey has made various investments in mutual funds and other financial instruments, providing additional income streams;
- Book royalties: Like many politicians, Markey has authored books that bring in royalties;
- Speaking engagements: Markey occasionally earns money through paid speaking engagements, although this is not a major income source for him.
Ed Markey’s assets
According to his annual report for the year 2023, Ed Markey has 20 assets, and they range from $3,012,019 to $4,381,001. The most prominent ones include:
- Fidelity-Rydex NASDAQ 100 Inv Class mutual fund worth over $1 million;
- TIAA Retirement Annuity -CREF Equity Index R3 worth between $500,001 and $1 million;
- Fidelity SEP-Fidelity 500 index fund worth between $500,001 and $1 million;
- Fidelity-Rydex NASDAQ 100 Inv Class mutual fund worth between $250,001 and $500,000;
- Fidelity-Victory R.S. Small Cap Growth Class A mutual fund worth between $100,001 and $250,000.
Ed Markey’s controversies
From what we were able to gather, there are no official reports that suggest any allegations or evidence of insider trading involving Ed Markey. Throughout his career, it appears that he maintained a reputation for integrity and ethical behavior.
How much is Ed Markey worth?
Although not the richest US Senator, Ed Markey’s net worth ranges between $1,862,019 and $3,815,998. These figures suggest that the Massachusetts Senator is pretty well off, especially when compared to average American households. That said, Markey’s millionaire status puts him in the mid-tier compared to his Senate peers.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: https://finbold.com/ed-markey-net-worth/