[ad_1]
People are making false claims about Democratic Rep. Alexandria Ocasio-Cortez’s net worth again.
A viral post from Ted Nugent, an outspoken conservative musician, says that the New York congresswoman is worth $29 million. It’s not the first time this has happened — Ocasio-Cortez is a frequent subject of misinformation on politicians’ net worths.
According to the latest publicly available information, the congresswoman reported that in 2023, she owned less than $50,000 in assets and had between $15,000 and $50,000 in student loan debt. Like other rank-and-file members of the House and Senate, her annual salary is $174,000.
“I am not even worth $1 million. Or a half million,” Ocasio-Cortez wrote in February, responding to a since deleted post claiming she’d made tens of millions of dollars. “I am one of the lowest net worth members of Congress, trade no individual stock, and take no outside income.”
Forbes estimated Ocasio-Cortez’s net worth last year was about $125,000, with most of her wealth in a Thrift Savings Plan — a 401(k)-style investment vehicle for government employees that doesn’t have to be listed in financial disclosures.
The Forbes estimate was based on the assumption that she’d been putting 5% away and getting matching funds — which would put her account at just over $100,000 this year.
You can look this information up yourself
Disclosures filed by House members and senators are available online. They are required to file these documents annually and include information about lawmakers’ assets, outside income, debts, and other agreements.
Related stories
Business Insider tells the innovative stories you want to know
Business Insider tells the innovative stories you want to know
For example, here’s the assets portion of Ocasio-Cortez’s latest financial disclosure, which was filed in August and covers all of 2023.
Clerk of the US House of Representatives
It shows four accounts, totaling a maximum of $46,000. The congresswoman reported that she did not own individual stocks and had no outside sources of income.
Sometimes, the disclosures contain interesting nuggets of information. For example, her most recent disclosure showed that trips she took to South America and East Asia in 2023 were paid for by a foundation and a think tank, respectively.
In 2022, she disclosed receiving an engagement ring from her fiancé worth slightly more than $3,000.
While there’s a widespread notion that members of Congress enrich themselves through corruption, the reality is generally more mundane. Most often, it’s things like book deals that allow lawmakers to make extra cash on the side.
[ad_2]
Source link
