The 50 Richest Members of Congress (2008)

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35. Rep. Heath Shuler (D-N.C.)
$7.81 million

It was a good financial year for the one-time NFL quarterback, who added a more than 20 percent increase, about $1.3 million, to his net worth.

Shuler’s investment in River Crest Development, a Del Rio, Tenn.-based real estate development firm, jumped to a minimum value of $1 million, doubling from its $500,000 minimum rating last year.

The North Carolinian also added to his portfolio the River at Shining Rock, a Haywood County, N.C.-based real estate development company, valued at $1 million to $5 million.

His real estate holdings also include the Cove at Blackberry Ridge, valued at a minimum of $5 million, and a stake in a Knoxville, Tenn., shopping center valued at a minimum of $1 million.

Shuler carries $1 million in mortgage debt on rental property, as well as an additional $500,000 in business loans and a $50,000 consumer line of credit from United Community Bank in Lenoir City, Tenn.

36. Rep. John Spratt (D-S.C.)
$7.50 million

Spratt’s minimum net worth soared in 2007 as the value of an 800-acre swath of pasture land in Fort Mill, S.C., moved into the $5 million to $25 million range.

The increase over its previous minimum $1 million listing swells the Democrat’s fortunes by $4 million, the largest factor in his 141 percent increase.

Spratt’s other assets include investments in Bank of America Corp. valued at $500,000 to $1 million and York Bancshares at $1 million to $5 million.

His real estate holdings include a D.C. rental unit and properties in South Carolina, with a combined value of at least $850,000.

Spratt carries $480,000 in debt, a combination of mortgage debt, credit cards and promissory notes.

37. Rep. Bill Foster (D-Ill.)
$7.37 million

Foster, who won the special election to replace former Speaker Dennis Hastert (R), has almost all of his assets tied up in the theater lighting company he founded with his brother in 1975, Electronic Theatre Controls. Foster reports holding $5 million to $25 million in a promissory note “for payments over time arising from sale of interest” in the company, but also a $1 million to $5 million ownership interest in the company “that owns the factory building used by ETC Inc.”

He also has more than $1 million in savings, checking and money market accounts.

Foster reports no liabilities.

38. Rep. Steve Kagen (D-Wis.)
$7.31 million

The Wisconsin lawmaker, who operated Kagen Allergy Clinics before his election to the House, maintains a portfolio composed largely of bonds, as well as a money market account valued at $1 million to $5 million.

He lists no debts.

39. Rep. Fred Upton (R-Mich.)
$7.21 million

Upton’s fortunes increased by approximately $460,000 in 2007, adding nearly 7 percent to his net worth.

Together with his wife, the Michigan lawmaker owns $1 million to $5 million in Whirlpool, the Benton Harbor, Mich.-based appliance company co-founded by his grandfather.

The couple also lists $5 million to $25 million in family trusts and an additional $1 million in an investment account.

Upton lists no debts.

40. Rep. David Dreier (R-Calif.)
$7.03 million

Dreier’s wealth remains relatively unchanged at just over $7 million, decreasing less than 1 percent from his estimated 2006 net worth.

The California Republican’s primary asset, valued at $5 million to $25 million, is an interest in Tiffany Manor Apartments, a complex in Kansas City, Mo.

He also has $500,000 to $1 million invested in the Oklahoma Publishing Co., which produces both the Oklahoman newspaper and its Web site, NewsOK.com.

Dreier, who lists no debts, also has investments worth at least $250,000 in both Viacom and Gaylord Entertainment, which owns resorts in Nashville, Orlando, Dallas and D.C., as well as the Grand Ole Opry.