Due to the nature of his public profile, Senator Mike Lee’s net worth has piqued quite the interest. In this piece, we’ll explore his wealth by going through his assets, investments, and any financial controversies like insider trading involvement.
Who is Mike Lee?
Born in 1971, Mike Lee is an American lawyer and politician serving as the senior United States senator from Utah since 2011. As a member of the Republican Party, Lee became Utah’s senior senator when Orrin Hatch retired from the Senate in 2019. He started his career as a clerk for the US District Court for the District of Utah and later clerked for Samuel Alito, who was then a judge on the Third Circuit Court of Appeals.
Mike Lee’s net worth
In 2018, OpenSecrets reported Mike Lee’s net worth to be $414,005. That said, his financial disclosure report for year 2022 says otherwise—Lee’s total assets range from $180,004 to $450,000, and he has no reported liabilities.
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 Mike Lee make his money?
Mike Lee’s income primarily comes from his career as a Senator and as an author. He has been serving as a Senator since 2011, which provides him with a regular salary of $174,000 annually. In addition to his political career, Lee is also an author and has written four books from which he receives royalties. He has also earned non-employee compensation for teaching at Duke University.
Senator Mike Lee’s assets and investments
According to his financial disclosure report for year 2022, Senator Lee’s top assets include the following:
- FFTHX mutual fund valued between $100,001 and $250,000;
- Utah Community Credit Union bank deposit worth between $50,001 and $100,000;
- Utah Community Credit Union bank deposit worth between $15,001 and $50,000.
Controversies
While Senator Lee has not been implicated in any financial or insider trading controversies, his political actions have stirred controversy. Notably, his involvement in early efforts to overturn the results of the 2020 election. Lee explored a plan to encourage state legislatures to alter the outcome of the election by appointing alternate electors. However, by mid-November, it appears that he lost confidence in his plan.
The public perception of Senator Lee is varied. While Republicans in America consider him in high regard, the mentioned involvement in the effort to overturn the 2020 election results drew quick condemnation from his reelection challengers.
How much is Mike Lee worth?
Although we can’t pinpoint Mike Lee’s net worth to an exact number, it’s safe to say that he’s not among the richest American politicians. With reported total assets worth between $180,004 and $450,000 in 2022, Lee belongs in the mid or lower tier of US Senators based on how much they are worth.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
