Delaware’s senior senator has gained considerable attention for his work in Congress as well as his active participation in stock trading. Tom Carper’s net worth has become a topic of great interest, so we decided to poke around his finances.
Who is Tom Carper?
Tom Carper is a seasoned American politician who served as the senior United States Senator from Delaware since 2001. Born in Beckley, West Virginia, Carper has had a influential career in public service. Before his tenure in the Senate, he served as Delaware’s Governor from 1993 to 2001 and as a US Representative from 1983 to 1993.
Carper’s political views
Tom Carper’s net worth
According to OpenSecrets, Tom Carper’s estimated net worth was about $5,726,595 in 2018. Still, based on the most recent data available—Carper’s 2023 financial disclosure report—he is worth anywhere between $2,333,204 and $13,748,998.
Picks for you
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 Tom Carper make his money?
Tom Carper’s wealth comes from his government salary, investments, and various assets. Here’s a detailed look at the sources of his income:
- Government salary: As a US Senator, Carper earns an annual salary of $174,000. Additionally, his previous roles as Governor and US Representative contributed significantly to his income;
- Investments: Carper has been actively involved in stock trading, a significant source of his wealth. His investment portfolio includes stocks from various sectors, providing him with diversified income streams;
- Retirement benefits: After decades in public service, Carper is entitled to substantial retirement benefits, which provide a steady income stream;
- Speaking engagements and consulting: Occasionally, Carper participates in speaking engagements and consulting, which further supplements his income.
Tom Carper’s assets
According to his 2023 financial disclosure report, Tom Carper is one of the most active senators in investing. His assets are valued between $4,333,204 and $14,749,000, with liabilities ranging from $1,000,002 to $2,000,000. Out of all his assets, the most valuable ones include:
- Rental property in Washington, DC valued between $1,000,001 and $5 million;
- Rental property in Washington, DC, valued between $500,001 and $1 million;
- Undeveloped farmland with farmhouse and barn in Zionville, NC, valued between $500,001 and $1 million;
- Apple Inc. (NASDAQ: AAPL) stock, valued between $250,001 and $500,000;
- Bank deposit in Citizens Bank, valued between $100,001 and $250,000.
Was Tom Carper involved in insider trading?
What is insider trading?
In 2022, Tom Carper bet against the stock market by purchasing up to $110,000 in the Ranger Equity Bear Bear ETF (NYSEARCA: HDGE), which actively shorts US-listed stocks. Additionally, he violated federal transparency and conflicts-of-interest laws by disclosing one of his wife’s stock trades more than a year after the deadline.
While members of Congress are allowed to buy and sell stocks, this situation has raised concerns about potential conflicts of interest.
How much is Tom Carper worth?
In summary, Tom Carper’s net worth, which ranges between $2,333,204 and $13,748,998, comes from a pretty diverse portfolio, full of corporate stocks, mutual funds, and real estate properties. Although we can’t pinpoint the exact number, it’s safe to say that the Delaware representative belongs in the mid-tier group of US Senators regarding personal wealth. Of course, none of that changes the shadow cast by insider trading allegations.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
