As a member of Congress and a representative of Maine, Susan Collins’ net worth is an interesting subject for many people. Luckily for them, in this piece, we dive into her finances, from assets and investments to any controversies like insider trading.
Who is Susan Collins?
Susan Collins has represented Maine in the US Senate since 1997. Born on December 7, 1952, in Caribou, Maine, she comes from a family with a long history in public service. After earning a degree in government from St. Lawrence University in 1975, Collins began her career working for Senator William Cohen and later held several positions in state government. Her political career took off when she won her Senate seat, becoming one of the most prominent moderate Republicans in Congress.
Susan Collins’ net worth
Susan Collins’ net worth has been a topic of interest for many, particularly given her long tenure in the Senate. In 2018, her net worth was estimated to be around $4,124,000, according to OpenSecrets. However, her financial disclosure report for year 2023 suggest otherwise. Namely, Collins’ net worth can actually be anywhere between $2,587,088 and $7,708,999.
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 Susan Collins make her money?
Susan Collins primarily earns her money through her salary as a US Senator. Senators receive a base annual salary of $174,000, which has been the standard for several years. Nevertheless, her income also comes from investments and real estate holdings, as well as several books that she’s written.
Susan Collins’ assets and investments
From Senator Collins’ financial disclosure report for year 2023, her total assets range from $3,087,088 and $7,959,000. That said, her most prized assets include:
- TDBank deposit worth $250,001—$500,000;
- TDBank deposit worth $100,001—$250,000;
- TDBank deposit worth $100,001—$250,000;
- Voya US Stock Index Fund mutual fund worth $100,001—$250,000;
- Fidelity Asset Manager 50% mutual fund worth $100,000—$250,000.
Insider trading involvement
What is insider trading?
Insider trading has become a significant issue in recent years, with several members of Congress under scrutiny. Susan Collins has, however, managed to steer clear of any major controversies related to insider trading. Her financial disclosures and transactions have remained transparent, and there is no public record of her engaging in any illegal trading activities.
How much is Susan Collins worth?
Susan Collins’ net worth can be anywhere between $2,587,088 and $7,708,999, making her quite a wealthy individual, compared to the average American. In fact, she’s a millionaire with a seven-figure number next to her name. Still, as strange as it might seem, Collins is nowhere near some of her Senate colleagues who have larger net worth numbers associated with them. For example, Mitch McConnell and Mitt Romney.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
