Michael McCaul certainly didn’t opt to stay out of the U.S. Senate race against David Dewhurst for lack of a personal war chest. Earlier this week, Roll Call released an analysis of its list of the “50 Richest Members of Congress,” on which the Representative (R-Austin) is number one.
The story stops just short of calling McCaul (and all of Congress) part of “The 1%,” perhaps because that’s practically self-evident:
…as protesters around the country decry the supposed consolidation of wealth in America, the trend can be seen starkly in Congress, a comparison suggested by American Enterprise Institute visiting scholar Mark Perry. The 50 richest Members of Congress accounted for 78 percent of the net worth in the institution in 2008 ($1.29 billion of the $1.65 billion total); by 2010 the share of the 50 richest had risen to 80 percent ($1.63 billion of the $2.04 billion total). The pie of Congressional wealth got bigger, and the richest Members are getting a bigger slice.
According to the story, McCaul—whose wife Linda is the daughter of Clear Channel Communications founder and chairman Lowry Mays—has a minimum net worth of $294 million.
That’s so high it raised the average net worth of every member by around $500,000.
Rep. Darrell Issa of California and Senator John Kerry of Massachussetts were the only other people on the list to crack nine figures.
Other Texans in the top fifty: Rep. Kenny Marchant (R- Coppell) with $16.45 million, Rep. Lloyd Doggett (D-Austin) with $8.5 million, Rep. Blake Farenthold (R-Corpus Christi) with $8.51 million, Rep. Bill Flores (R-Bryan) with $7.71 million and Rep. Randy Neugebauer (R-Lubbock) with $6.21 million.