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How rich is Iowa senator Joni Ernst; Joni Ernst’s net worth revealed

How rich is Iowa senator Joni Ernst; Joni Ernst’s net worth revealed
Bogdan Stojkov

For those curious about how much money US politicians make, you’ve come to the right place. In this article, we explore the finances of Iowa Senator Joni Ernst’s net worth, going through her assets, investments, and all other key information.

Who is Joni Ernst?

Born on July 1, 1970, in Red Oak, Iowa, Joni Ernst is an American politician serving as the junior United States Senator from Iowa since 2015. A member of the Republican Party, Ernst is the first female combat veteran elected to the United States Senate. Before her tenure in the Senate, she served in the Iowa State Senate and as Montgomery County Auditor.

Military service

Ernst’s military service includes more than 23 years in the Iowa Army National Guard, where she retired as a lieutenant colonel. Her background in agriculture, military service, and local government laid the foundation for her political career.

Joni Ernst’s net worth

According to OpenSecrets, Joni Ernst’s net worth was estimated to be -$196,984 in 2018. On the other hand, based on her financial disclosure report for year 2023, Ernst’s actual net worth can be anywhere between –$156,963 and $544,999.

Disclaimer: Estimating a lawmaker’s net worth is challenging because disclosure forms do not mandate exact values. Instead, lawmakers report the value of their assets and liabilities within specified ranges. While we strive to accurately estimate net worth from filings, disclosure rules have shortcomings. Personal residences, certain personal property, and federal retirement accounts are often not reported. Large assets can be listed in broad categories like “Over $1 million” or “Over $50 million,” potentially worth much more. Additionally, most Members of Congress earn $174,000 annually, but this isn’t required to be disclosed.

How did Joni Ernst make her money?

Joni Ernst’s primary source of income comes from her salary as a US Senator, which is $174,000. She also earns around $100,000 in extra income, including expenses and bonuses, according to Married Celeb.

Before her time in the Senate, she earned an income through her roles in local government and the military. Her retirement from the Iowa Army National Guard provides her with a military pension, which adds to her annual income.

Ernst’s finances are also tied to her family’s farming roots. Various relatives of Joni Ernst reportedly received an aggregate of $460,000 in agricultural subsidies. However, it’s important to note that this figure is an aggregate value of agricultural subsidies granted to various relatives of Ernst (i.e., her father, brother, and great-grandfather) across a span of twenty years, not money Ernst herself received in the form of welfare payments.

Additionally, Ernst has published a memoir, “Daughter of the Heartland: My Ode to the Country That Raised Me,” which has contributed to her earnings. While book sales are not a significant portion of her net worth, they do add to her overall financial portfolio.

Joni Ernst’s assets and investments

Joni Ernst has a diverse portfolio of assets and investments. Namely, as of 2023, her total assets ranged from $93,037 to $645,000. Furthermore, Ernst’s investments span across mutual funds and cash/money market accounts. With this in mind, let’s take a look at this table that summarizes her top 5 assets:

OrganizationIndustryMinimum valueMaximum value
Fidelity 500 Index FundMutual fund$15,001$50,000
T. Rowe Price Large-Cap Growth Fund I ClassMutual fund$15,001$50,000
MFS Value Fund Class IMutual fund$15,001$50,000
Capital OneBank deposit$15,001$50,000
State of Iowa RetirementRetirement plan deferred compensation$1,001$15,000
Table 1: Joni Ernst’s top 5 assets. Source: efdsearch.senate.gov

Insider trading involvement and controversies

In recent years, there have been concerns about insider trading involving members of Congress. However, no public records show that Joni Ernst has engaged in any insider trading activities. It seems that the Iowa senator’s financial dealings comply with all legal and ethical guidelines set forth for members of Congress.

However, Joni Ernst was involved in some controversies related to her role as a senator. For instance, she joined a growing number of lawmakers pushing for the resignation of Chairman Martin Gruenberg of the Federal Deposit Insurance Corporation (FDIC) over allegations of a toxic work environment and sexual harassment at the highest levels.

How much is Joni Ernst worth?

All in all, Joni Ernst’s net worth is anywhere between –$156,963 and $544,999. While this figure might be underwhelming when compared to some other members of Congress, it demonstrates just how far off some of Ernst’s peers are from the average Americans and their households.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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