Richard Blumenthal is an American politician and lawyer who has served as the U.S. Senator from Connecticut since 2011. He is known for his successful law practice, which secured him the role of Attorney General of Connecticut from 1991 to 2011. This article will showcase Richard Blumenthal’s net worth and the sources of his massive wealth.
How rich is Richard Blumenthal?
Richard Blumenthal attended Riverdale Country School before he went to Harvard College. He graduated magna cum laude with an A.B. degree in 1967. Blumenthal enlisted in the United States Marine Corps Reserve and served in Washington, D.C., and Connecticut units from 1970 to 1976. In 1973, he received his J.D. from Yale Law School.
Before becoming attorney general, Richard Blumenthal worked in private practices. He was appointed United States Attorney for the District of Connecticut in 1977 and served until 1981. In 1984, he was elected to the Connecticut House of Representatives, and in 1987, he was elected to the Connecticut Senate.
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In 1991, Blumenthal was elected Attorney General of Connecticut and held that position until 2011, when he won the elections for the role of U.S. Senator from Connecticut.
Blumenthal’s successful lawyer career and investing endeavors have allowed him to accrue millions in net worth. Coupled with the assets owned by his wife, Cynthia Malkin, daughter of Manhattan real estate mogul Peter Malkin, Blumenthal is one of the wealthiest members of the Senate.
What is Richard Blumenthal’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 Richard Blumenthal make his money?
Before he became a politician, Blumenthal had a successful career as a lawmaker and state attorney. Much of his wealth also came from the value of assets his wife, Cynthia Malkin, owned. The list goes as follows:
- Law practice: Blumenthal had a successful career as a lawyer before entering politics. In fact, he held several important positions, including United States Attorney for the District of Connecticut and Attorney General for Connecticut;
- Political career: Blumenthal became a senator in 2011, which provides him with an annual salary of $174,000. However, the amount contributed by this salary is virtually negligible compared to his vast fortune;
- His wife’s assets and investments: Blumenthal’s wife, Cynthia Malkin, is the daughter of Peter Malkin, a real estate investor and chairman emeritus of Empire State Realty Trust (NYSE: ESRT) and Malkin Holdings. Together, they hold millions in various investments, including real estate, savings accounts, mutual funds, and ETFs.
Richard Blumenthal’s assets
Based on Blumenthal’s 2022 financial disclosure, the senator has a massive and diverse portfolio of assets. In fact, a few significant investments make the bulk of Richard Blumenthal’s net worth estimated between $82.53 million and $305.175 million. The most valuable among these include:
- Rockefeller Cash and Equivalents – SSGA Institutional Government Money Market (GVMXX – NASDAQ) – Money Market fund, valued between $1 million and $5 million;
- Peter L. Malkin Family 9 LLC, with dozens of millions of dollars in various investments;
- Real Estate Partnerships (via Empire State Realty Trust – ESRT), with real estate assets worth over $1 million;
- Cynthia’s personal holdings, including a 3.2% ownership in Peter L. Malkin’s family company worth over $1 million;
- Richard Blumenthal’s Rockefeller Libra Fund LP is valued between $1 million and $5 million.
Insider trading involvement
Richard Blumenthal has been accused of trading individual stocks, including a claim that he sold millions in Robinhood (NASDAQ: HOOD) stock. He categorically dismissed these claims and said he “owns no individual stocks.” He claims he has no control over how his various funds invest his money.
Who is Richard Blumenthal?
Richard Blumenthal was born in Brooklyn, New York on February 13, 1946. He attended Harvard College and graduated from Yale Law School. Before starting his senatorial career, Blumenthal served as Attorney General of Connecticut from 1991 to 2011 and established himself as a consumer advocate and safeguard against corporate malfeasance. Additionally, he served in the U.S. Marine Corps Reserve from 1970 to 1976.
On June 27, 1982, he married Cynthia Malkin, the daughter of a real estate mogul, which considerably added to his net worth.
Richard Blumenthal advocated for consumer protection, veterans’ affairs, and improving healthcare as a senator. He has also maintained his tough stance on harmful corporate practices and pushed for stronger workplace regulations. His notable contributions to U.S. politics have made him a visible figure on the American political scene.
Recommended video: ‘346 People Died’: Richard Blumenthal Explodes At Boeing CEO During Contentious Hearing
How much is Richard Blumenthal’s net worth – the bottom line
The Senator from Connecticut is one of the wealthiest U.S. representatives, owing to his fruitful legal career and his spouse’s considerable assets. Richard Blumenthal’s net worth is valued between $82.53 million and $305.175 million. These enormous riches place him near the very top of the list of affluent senators.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
