Frosh Climbs 50 Richest List

Posted November 28, 2009 at 7:00am

Freshman Rep. Parker Griffith (D-Ala.) is moving up several notches on Roll Call’s 50 richest Members of Congress list, assuming 37th place, but it is not clear whether he will stay there.

The financial disclosure form Griffith filed in May listed his assets as at least $7.38 million and liabilities at $1.35 million, for a minimum net worth of $6.03 million.

But in October, Griffith filed an amendment to his reports raising the value of his assets by another $1 million. The revisions include eight real estate investments instead of the seven included on the original disclosure. One of the properties on Griffith’s amended form is valued from $1 million to $5 million, but since the original form provided few details about each property, there is no way to tell whether this is a new property that was not included on the first form or simply a revised evaluation for a property that was listed. The original form didn’t include any properties with a value of more than $1 million.

Griffith’s new report says Griffith’s minimum net worth is about $7.03 million, enough to bump him up from 44th place to 37th place on Roll Call’s list of richest Members.

But Griffith is apparently preparing another amendment to his financial disclosure form that will replace the October filing. Roll Call contacted the Congressman’s office in October to inquire about several stock sales the Alabama Democrat disclosed with no indication of any income from the sales. For instance, Griffith reported selling $250,000 to $500,000 worth of an asset called Growth Fund of America — apparently a mutual fund — but his disclosure report makes no mention of any capital gains generated by that sale.

A Griffith spokesman said Monday that the Congressman is “definitely filing another amendment,— but couldn’t provide any details.