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Frosh Could Join ‘50 Richest’

Grayson, who defeated four-term GOP incumbent Ric Keller, reports a net worth of about $29 million. An attorney who founded the telecommunications company IDT Corp. in 1990, Grayson grew up poor in New York but now has a trust worth more than $25 million, which provides him an annual income of seven figures. He reports no liabilities.

Sen.-elect Jim Risch (R-Idaho)

$20.2 million

Risch, who replaces retiring Sen. Larry Craig (R), stakes his fortune in farm and ranch land.

The Republican lists 40-acre lots in Ada and Canyon counties in Idaho, as well as another 24-acre site in Canyon County, all at a value of at least $5 million.

A fourth property of more than 160 acres in Ada County is valued at least $1 million.

In addition, Risch lists a half-dozen investment properties, including four in Boise, Idaho, valued at a minimum of $100,000 each.

Risch, the state’s lieutenant governor, also lists his law firm, Risch Goss Insinger Gustavel, at a value of at least $1 million.

The Idahoan’s liabilities include three mortgages on investment properties, ranging from $15,001 to $50,000 and $50,001 to $100,000.

Rep.-elect Cynthia Lummis (R-Wyo.)

$17.2 million

Lummis reports a net worth of at least $17.2 million, mostly on the basis of three cattle ranches (though one is referred to as the Arpt & Hammond Hardware Co.) each valued at $5 million to $25 million. She reports two mortgages worth at least $1.1 million in liabilities.

Rep.-elect Chris Lee (R-N.Y.)

$11.2 million

Lee, who replaced retiring Rep. Tom Reynolds (R), was an executive in a family manufacturing firm that was sold in 2007 for nearly $400 million. He now has investments scattered across dozens of mutual fund accounts, and his minimum net worth is about $11 million. Lee lists no liabilities.

Sen.-elect Kay Hagan (D-N.C.)

$8 million

After eking out an upset win over Sen. Elizabeth Dole (R), Hagan will take not only her place in the Senate but will also snag a spot among the 50 richest Members.

While Hagan won’t land in the upper echelons — Dole, with an estimated net worth of at least $16.45 million, ranked 19th in the 2008 list — a personal wealth of at least $8 million will position Hagan far from the bottom rung.

Among the investments that Hagan, a state Senator and former banker, and her husband list are at least $5.5 million in commercial warehouses in Lakeland, Fla.

Hagan is the niece of former Florida Gov. and Sen. Lawton Chiles (D).

In addition, Hagan’s husband lists “over $1 million” in investments in Lincoln National Corp., a holding company made up of insurance, financial planning and advisory companies. The Hagans also list extensive stock investments and bonds, many in the ranges of $1,001 to $15,000 and $15,001 to $50,000.

Hagan lists about $3 million in liabilities, including 10 mortgages issued by Florida lenders ranging from at least $50,001 to at least $500,001. She also lists mortgages from lenders in Georgia, Arizona, Illinois and North Carolina ranging from at least $250,001 to at least $500,001.

Rep.-elect Parker Griffith (D-Ala.)

$7.4 million

Griffith, who replaced retiring Democratic Rep. Bud Cramer, lists assets worth about $8.6 million and about $1.2 million in liabilities, for a minimum net worth of about $7.4 million.

A physician before running for public office, Griffith owns several pieces of Alabama real estate with a combined value of more than $2 million, and several significant stock holdings, including from $1 million to $5 million in now-defunct mortgage lender Washington Mutual.

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