The Wealthiest Congress in History Loves These 25 Stocks

Source: OpenSecrets.org

The wealth effect is in full force on Capitol Hill. For the second consecutive year, the majority of Congress members are millionaires. Both political parties made impressive gains in their median net worth and continue to hold positions in some of America’s most popular companies.

Despite dismal approval ratings, being a member of Congress never felt so good financially. Of the 533 current members of Congress, the median net worth of a member totaled $1,029,505, while 271 had an average net worth of $1 million or more in 2013, according to a new report by the Center for Responsive Politics (CRP) and the latest disclosures filed by Congress. That is up from 268 members in 2012 and 257 members in 2011. In fact, the average value of Congress is roughly $4.3 billion, the equivalent of more than 76,000 typical American households. The median net worth for all senators totaled $2.8 million compared to $708,500 for House members.

Interestingly, half of this year’s freshman class were already millionaires upon their arrival. “At a time when income inequality is much debated, the representatives we choose are overwhelmingly affluent,” said CRP Executive Director Sheila Krumholz. “Whether voters elect them because they are successful or because people of modest means do not run, or for other reasons, is unclear, but struggling Americans should not assume that their elected officials understand their circumstances.”

With the exception of 2008, Congress has improved its net worth every year since 2006.  Real estate is the most popular investment on Capitol Hill, but many members also hold positions in stocks. Let’s take a look at the 25 most popular stocks held by Congress.

Company: Number of members invested:
1. General Electric (NYSE:GE) 62
2. Wells Fargo (NYSE:WFC) 58
3. Microsoft (NASDAQ:MSFT) 53
4. Procter & Gamble (NYSE:PG) 52
5. Bank of America (NYSE:BAC) 52
6. JPMorgan Chase (NYSE:JPM) 51
7. Apple (NASDAQ:AAPL) 51
8. Chevron (NYSE:CVX) 45
9. AT&T (NYSE:T) 44
10. Exxon Mobil (NYSE:XOM) 44
11. IBM (NYSE:IBM) 44
12. Pfizer (NYSE:PFE) 41
13. Coca-Cola (NYSE:KO) 39
14. Verizon Communications (NYSE:VZ) 39
15. Johnson & Johnson (NYSE:JNJ) 39
16. Intel (NASDAQ:INTC) 37
17. Cisco Systems (NASDAQ:CSCO) 37
18. Pepsi (NYSE:PEP) 35
19. Walt Disney (NYSE:DIS) 34
20. Merck (NYSE:MRK) 31
21. Comcast (NASDAQ:CMCSA) 31
22. Qualcomm (NASDAQ:QCOM) 30
23. McDonald’s (NYSE:MCD) 30
24. Berkshire Hathaway (NYSE:BRKA)(NYSE:BRKB) 29
25. Google (NASDAQ:GOOGL) 28

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