Chris Murphy is an American politician and member of the Democratic Party who has served as the junior U.S. Senator from Connecticut since 2013. He has built a reputation as an advocate for progressive policies and is widely known for his increased gun control stance. This article will highlight Chris Murphy’s net worth and trace the sources of his wealth.
How rich is Chris Murphy?
Chris Murphy graduated from Wethersfield High School, received his B.A. from Williams College, and earned his J.D. degree from the University of Connecticut School of Law. In 2013, he also received an honorary Doctor of Humane Letters degree from the University of New Haven.
Murphy entered politics when he was 25 when he was elected to the Connecticut House of Representatives. He progressed to the Connecticut State Senate, then won a place in the U.S. House of Representatives, and finally took his place as the Senator from Connecticut in 2013.
Apart from politics, Murphy has also written a book on the state of gun violence in America, titled The Violence Inside Us: A Brief History of an Ongoing American Tragedy.
What is Chris Murphy’s net worth?
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 Chris Murphy make his money?
Chris Murphy’s net worth has been built (or rather spent) through the following sources:
- Politician’s salary: Murphy has been an elected official for more than 25 years. Initially as a local representative, today as a senator, he has been receiving a politician’s salary currently worth $174,000 per year;
- Book royalties: Chris Murphy has received royalties as the author of a book on gun violence in the U.S. As of 2022, he received a total of approximately $150,000 in royalties since the book was published;
- Investing: According to the last available publicly disclosed financial disclosure form, Chris Murphy and his spouse have made some investments in mutual funds and savings accounts, including for their children’s education. The figures are not precise but are definitely not enough to cover the total amount of financial liabilities;
- Mortgages: Chris Murphy’s net worth is anchored by two mortgages, one between $250,001 and $500,000 and another between $1,000,001 and $5,000,000. Were it not for these, Murphy would most likely be a millionaire.
Insider trading involvement
In 2017, Politico reported that Donald Trump’s nominee for Health and Human Services secretary bought shares in a biotech company while occupying positions in committees that could influence the company’s future.
Senator Chris Murphy reportedly asked him: “Tell me how it can possibly be OK that you were championing positions on health care issues that have the effect of increasing your personal wealth?”
Chris Murphy himself does not trade individual stocks and, therefore, cannot be accused of insider trading.
Who is Chris Murphy?
Chris Murphy was born on August 3, 1973, in White Plains, New York. He grew up in Wethersfield, Connecticut, where he also went to high school. Murphy received a B.A. from Williams College in 1996 and earned a J.D. from the University of Connecticut School of Law in 2002.
A member of the Democrats, Murphy launched his political career in the Connecticut House of Representatives, serving from 1999 to 2003. Then, he was elected to the Connecticut State Senate and served there from 2003 to 2007. In 2007, he was elected to the U.S. House of Representatives, representing Connecticut’s 5th district until 2013.
Recommended video: Sen. Chris Murphy on Texas School Shooting
Murphy won his U.S. Senate seat in 2012. He received national attention after the Sandy Hook Elementary School shooting in Newtown, Connecticut, and took a firm reform stance on gun policy. Besides more gun control, he has been active on issues such as healthcare, foreign policy, and economic equality.
Senator Chris Murphy is known for his progressive stance on social issues and his consistent efforts to address the mental health and opioid crises. He remains an important figure among the Democratic politicians today.
Chris Murphy’s net worth – the bottom line
The Senator from Connecticut has a significantly lower net worth than his peers, with no precise figures available, but with solid indications observed from his financial disclosure forms. Currently, Chris Murphy’s net worth is estimated between -$4.8 million and $325,000, primarily due to his two mortgages.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
