The 50 Richest Members of Congress (2008)

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Beyond the two giant bank accounts, the family’s biggest asset appears to be Bill Clinton, who earned more than $10 million giving speeches in 2007.

30. Sen. Richard Shelby (R-Ala.)
$8.64 million

The Alabaman’s fortunes diminished nearly 6.5 percent in 2007, a drop of about $600,000.

Shelby owns 48 shares in Tuscaloosa Title, a title abstract and insurance company, with a value of $1 million to $5 million, and his wife owns two shares worth $50,000 to $100,000.

The couple transferred a 49 percent stake in a Tuscaloosa, Ala., apartment building, listed at $500,000 to $1 million, to the Shelby Family Trust in late 2007.

Shelby’s assets also include a D.C. town house and a Tuscaloosa home, both valued in the “over $1 million” category, as well as a Tuscaloosa office building listed at $500,000 to $1 million.

The Senator lists $1 million in mortgage debt on the apartment building, as well as a personal note issued by Regions Bank for $250,000 to $500,000.

31. Rep. Steve Pearce (R-N.M.)
$8.40 million

After the sale of his oil services company in 2003, several other companies Pearce founded have continued to grow. Last year, LFT, which takes its name from Lea Fishing Tools, the company Pearce sold, rose from $500,000 to $1 million to $1 million to $5 million, and Pearce also bought investment land in New Mexico.

Roll Call reported in April that Pearce apparently sold his company for about $12 million, but because the assets are held in a corporate account, he does not have to list the total amount among his assets or income.

32. Rep. Lloyd Doggett (D-Texas)
$8.38 million

Since Members of Congress are required to report only properties that are producing income, it is not uncommon to see assets hop on or off Members’ disclosure forms from year to year when they start or stop renting them. Doggett appears to be a case in point: An Austin, Texas, property that was not reported in 2006 appears on his 2007 form with a value of $100,000 to $250,000, producing $5,000 to $15,000 in income. There is no reported transaction, which suggests that Doggett already owned it but began renting the “garage apt” last year.

His other holdings, which showed a solid increase over the prior year, include investments of at least $500,000 in several Vanguard investment funds, as well as Whole Foods Market Inc.

33. Sen. Johnny Isakson (R-Ga.)
$8.20 million

The Georgia Senator paid off a small home mortgage while adding a new Massachusetts Avenue condo to his real estate portfolio.

Isakson reports a stable fortune, increasing his net worth less than 2 percent over his 2006 values.

His only debt is a $15,000 to $50,000 equity loan from Wachovia Bank.

Isakson also reported the purchase of a condo for $250,000 to $500,000.

The lawmaker’s assets include a mix of real estate and stocks, including Synovus, a financial services company. Isakson lists an investment of $1 million to $5 million in the company.

Among his real estate holdings are 12 acres in Rabun City, Ga., valued at $1 million to $5 million.

34. Sen. Bob Bennett (R-Utah)
$7.93 million

Bennett’s fortune remained the same from 2006, with at least $5 million of his assets tied to Watermark Corp., a company that owns lodging properties in Salt Lake City.

While Bennett, who once owned all of Watermark Corp, now claims only a one-third stake, he acknowledges in his disclosure form that he maintains full rights to the company’s assets because he remains a guarantor on mortgages for company properties.

Those mortgage debts, for two Anniversary Inns located in Salt Lake City, are valued at minimums of $1 million and $5 million, respectively. Bennett lists the net value of those properties at $1 million to $5 million each.