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WASHINGTON (TNND) — Investigations into Rep. Ilhan Omar’s finances are gaining attention as newly released disclosure forms show a sharp jump in her reported assets, a change that has raised questions about how the money was made and how congressional wealth is reported.
What we know from the filings
According to Rep. Omar’s 2024 financial disclosure, filed with the U.S. Clerk of the House, she reported assets valued somewhere between $6 million and $30 million. The filing lists interests connected to a winery and a venture capital firm as the primary sources of that wealth. That filing looks very different from the year before.
In her 2023 disclosure, Omar reported assets valued between roughly $40,000 and $250,000. The jump between the two reports, happening over the span of a single year, is what initially caught attention.
Why do those numbers come with wide ranges
It’s important to understand how congressional financial disclosures work.
Under the Ethics in Government Act, members of Congress don’t report exact dollar figures for most assets. Instead, they report within preset value brackets. That means someone with just over $5 million and someone with nearly $25 million can both legally report the same range. So when a lawmaker holds a few large assets that fall into high brackets, the public-facing estimate of net worth can look especially wide, even if the actual number is more specific behind the scenes.
Putting congressional pay in context
For additional context, members of the U.S. House and Senate earn a base salary of $174,000 per year. That figure hasn’t changed in more than a decade and often becomes part of the conversation when lawmakers report significant personal wealth increases while in office.
Why this isn’t a new debate
The Department of Justice and House Republicans have confirmed new investigative efforts related to Omar’s finances. At this point, the focus is on whether the disclosures comply with ethics and reporting rules. No criminal findings have been announced. More broadly, questions about lawmakers building substantial wealth while serving in Congress are nothing new.
One of the most frequently cited examples is former Speaker Nancy Pelosi. When she entered Congress in 1987, financial disclosures showed she and her husband held between $610,000 and $785,000 in stocks. Over the decades, analyses by OpenSecrets show the couple has made at least $130 million in stock profits.
Separate estimates from Quiver Quantitative place Pelosi’s total net worth at roughly $281 million, though those figures are not part of official disclosure filings. Despite years of public debate, Pelosi has not faced a formal DOJ investigation tied to her finances.
The broader concern: access and influence
According to the Brennan Center for Justice, members of Congress often have access to nonpublic information that can move markets — and they also have the power to shape policy affecting industries in which they may hold financial interests.
That concern has surfaced repeatedly over the years:
- In 2008, Rep. Spencer Bachus profited from market moves shortly after a private briefing with top financial officials.
- In 2020, Sen. Dianne Feinstein faced scrutiny after selling stocks ahead of the COVID-19 market crash.
- In 2025, Rep. Rob Bresnahan sold hospital bonds weeks after voting on legislation critics said could harm those same hospitals.
Where things stand now
With Rep. Ilhan Omar, the central issue right now is transparency and compliance, not proven wrongdoing. The reported asset ranges are allowed under current law. Still, the size and speed of the increase have prompted investigators to take a closer look and have reignited a broader conversation about whether Congress’s financial disclosure system gives the public enough clarity.