The median net worth of Pennsylvania residents sits around $200,000, according to a recent report by the financial company SmartAsset. The people who represent them in Congress have far, far more wealth.
Thirteen of the state’s U.S. lawmakers, including both senators, have median net worths in the millions. Yet another two have median net worths that sit above $900,000. The majority of members have built their wealth through stock holdings, cryptocurrency or real estate — or a combination of all of those.
Sen. Dave McCormick is the richest in the delegation. The former chief executive of one of the world’s largest hedge funds, Bridgewater Associates, entered Congress last year with a median net worth of more than $191 million, according to a NOTUS analysis of his personal financial disclosure. McCormick, whose campaign was dogged with allegations that he lived in Connecticut (he has a home in Pittsburgh), put nearly $6 million toward winning the seat in the last cycle, according to OpenSecrets.