Jim Risch is a prominent American politician who has served as the junior U.S. Senator from Idaho since 2009. Known as a successful trial lawyer, he has accumulated significant wealth and is frequently listed among the top 10 richest members of the Senate. Today, we will uncover Jim Risch’s net worth and the path he has taken to amass such a fortune.
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How rich is Jim Risch?
Jim Risch spent two years at the University of Wisconsin-Milwaukee before transferring to the University of Idaho, where he earned a B.S. in forestry in 1965. Risch continued his education at the same university’s College of Law and received a J.D. degree in 1968.
Risch began his career in politics at the age of 27 in 1970, securing the position of Ada County Prosecuting Attorney. At the same time, he taught criminal justice classes at Boise State College. In 1974, he was elected to the Idaho Senate and concurrently worked his law practice. During that time, he already earned his first million as one of Idaho’s most successful trial lawyers.
With hefty salaries, substantial compensations, and shrewd investment, Risch has reached a somewhat extravagant net worth for an elected U.S. representative.
What is Jim Risch’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 Jim Risch make his money?
Jim Risch’s net worth has been made from his successful law practice and shrewd investments, including:
- Law practice: By the late 1970s, Jim Risch had already established a reputation as one of Idaho’s most prominent trial lawyers. His extensive career in the practice has seen him hold various public posts and a private practice. It is not known how much he has made from his trade, but it is reasonable to assume that a significant part of Jim Risch’s net worth came from it;
- Politician’s salary: Jim Risch started his career in 1974 and has since held various elected official roles. As a senator, he currently receives an annual salary of $174,000. However, while certainly not little, it barely makes a noticeable portion of Risch’s current net worth;
- Farmland, ranchland, and other real estate property: Senator Risch owns about 240 acres of farm and ranch land in Ada County and Canyon County in Idaho, according to his financial disclosure forms. The combined value of these estates alone is between $11 million and $55 million;
- Investing: Jim Risch has also been heavily investing in various assets, most commonly mutual funds and savings accounts. While numerous and therefore difficult to pinpoint their precise value, some of the more prominent parts of Risch’s portfolio include ProShares UltraPro QQQ (TQQQ) and SPY mutual funds, both valued between $50,000 and $100,000 each.
Insider trading involvement
Senator Jim Risch’s net worth is enormous, but it comes primarily from owned real estate and mutual funds. In other words, Risch does not own individual stocks.
He has not taken a firm stance on the issue of senators owning individual stocks.
Who is Jim Risch?
Jim Risch was born on May 3, 1943, in Milwaukee, Wisconsin. Although he began his early education in Wisconsin, he moved to Idaho and ultimately earned his B.S. in forestry and a J.D. from the University of Idaho.
His political career started in the Idaho State Senate in 1975, where he spent over two decades. In the U.S. Senate, Risch was active on issues like energy policy, natural resource management, and foreign relations, with a particular focus on his own state.
Recommended video: Senator Risch Questions Secretary of the Interior Deb Haaland on the Lava Ridge Wind Energy Project
As a Republican, Risch established a set of conservative values that he continues to stand by today. He has strongly advocated for limiting the federal government and strengthening national defense.
The bottom line
The wealthy lawyer and landowner senator from Idaho frequently makes it among the top ten richest U.S. representatives list. Jim Risch’s net worth is estimated to be between $19.18 million and $88.3 million, which places him in the highest wealth bracket of the senatorial net worth tier list.
Disclaimer: The featured image in this guide is for illustrative purposes only and may not accurately reflect the true likeness of the individuals depicted.
FAQs about Jim Risch net worth
What is Jim Risch's net worth?
According to his publicly available 2023 financial disclosure form, Jim Risch’s net worth is between $19.18 million and $88.3 million.
What is Jim Risch's most valuable asset?
Jim Risch’s most valuable asset is his farm and ranch land in Idaho, valued between $5 million and $25 million.
Who are the current senators from Idaho?
The currently serving Idaho’s senators are Mike Crapo (senior) and Jim Risch (junior).
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
