Nita Lowey, Nan Hayworth make richest lawmakers list
Political incomes have been the topic of much discussion in this year's presidential race and D.C. publication The Hill provided yet another talking point with Tuesday's release of its annual "50 Wealthiest lawmakers" list, which included two Hudson Valley legislators.
Rep. Nita Lowey, whose 18th district consists of most of Westchester and part of Rockland county, placed at number 22 on the list with an estimated net worth of $14.3 million.
Although she reported being $1 million poorer than the previous year, Lowey's hedge funds, private equity funds and property holdings cemented the 75-year-old Democrat as the wealthiest representative from New York.
Lowey's husband Stephen brings home a sizable share of the bacon with his ownership interest in the law firm Lowey, Dannenberg, Cohen & Hart as well as a $1 million asset in Lowey Family Investment LLC, a Rye-based limited-liability corporation.
Lowey and her husband have $1.5 million worth of holdings in Arbiter Partners, a business risk consultancy company. They also manage a D.C. rental property valued at around $250,000.
Falling two spots -- and $2 million -- behind Lowey is Rep. Nan Hayworth, who represents the 19th district, which includes all of Putnam county and parts of Westchester, Rockland, Orange and Dutchess counties. The 52-year-old Mount Kisco resident saw her wealth dropping from $9.3 million in 2010 to $12.3 million in 2011.
The paper reported that Hayworth's wealth was largely acquired from her work as an opthalmologist, both in private practice and at Northern Westchester Hospital. She also has holdings in Mt. Kisco Medical Group, where she once worked. Hayworth's husband, Dr. Scott Hayworth, owns several Westchester and Dutchess County properties and holds a large number of bonds.
Hayworth was recently recognized on another Hill list, coming in 33rd on the paper's "50 Most Beautiful People" ranking. Hayworth was the only New Yorker on the Most Beautiful list which consisted mainly of staffers and gave the nod to just five congressmen.
Sandwiched between Lowey and Hayworth on the list is another New York lawmaker, Republican Richard Hanna, who oversees upstate's 24th congressional district and cashes in at $13.7 million. Hanna amassed his fortune with Hanna Construction, a company he founded after college as well as investments in major corporations including Chevron, Coca-Cola and Boeing.
New York City Rep. Carolyn Maloney also made the list at number 30 with a $10.1 million purse. The Democrat's district includes the affluent Upper East Side where she owns a rental property worth at least $5 million. Maloney and her investment banker hubby also own a million-dollar Capitol Hill home and real estate in North Carolina, Virginia, Florida and Jamaica.
Topping the list was Michael McCaul (R-Texas), who maintained his position as the wealthiest member of Congress with an estimated net worth of $290.5 million. Republicans proved wealthier than Democrates on the list with a ratio of 31 to 19. Members of the House out-riched the Senate, also at 31 to 19.
The newspaper determines its rankings based on financial disclosure forms filed by lawmakers for calendar year 2011. The legislators are not required to list exact figures; instead they gauged their assets within a range. The Hill used the lowest amounts in each range so politicians on the list could actually be wealthier than indicated.
The complete top 50 list can be found here.