How Wealthy Are Long Island's Members of Congress?

Members of Long Island’s congressional delegation are all in the bottom half when it comes to measuring the wealth of members of Congress, according to the Wealth of Congress Index from Roll Call.

New York’s richest member of Congress is the No. 19 wealthiest, but his district is closer to Canada than Long Island.

Rep. Chris Collins, R-Clarence, who covers New York’s 27th District, has a net worth of $23.83 million, according to Roll Call. The website describes Collins as owning sizable investments in several biotech companies and openly maintaining a stake in those companies.

The index is based upon the congressional financial disclosure forms each member of Congress is required to submit. Specifically, according to Roll Call, “... members are required to report values in broad ranges of minimums, starting at $1 to $1,000 and ending with any asset or liability worth $50 million or more. Our equation for calculating the minimum net worth of each member remains unchanged: Total minimum reported value of assets minus total minimum reported value of liabilities equals total minimum net worth.”

Sen. Charles E. Schumer is the wealthiest member of Congress representing Long Island, coming in at No. 9 wealthiest in New York and No. 284 wealthiest in the country, with a net worth of $390,000.

Here’s how the rest of Long Island’s congressional delegation ranks among the 541 members of Congress:

• Sen. Kirsten Gillibrand, D-NY, No. 354, Net worth of $120,000
• Rep. Peter T. King, R-Seaford, No. 360, Net worth of $100,000
• Rep. Lee Zeldin, R-Shirley, No. 361, Net worth of $100,000
• Rep. Kathleen Rice, D-Garden City, No. 379, Net worth of $60,000
• Rep. Steve Israel, D-Dix Hills, No. 494, Net worth of -$29,000

Read more at Roll Call here.

Patch file photo