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New Mexico Telegram » Delegation, Featured » Pearce 46th-wealthiest member of Congress

Pearce 46th-wealthiest member of Congress

Steve PearceSteve Pearce once again made the list of 50 wealthiest members of Congress. This year, according to The Hill, Pearce ranks 46th.

None of the other members of the New Mexico delegation cracked the top-50 and made the list. Jeff Bingaman was in the lower-reaches of the list during his time in the Senate, but he decided not to run for another term in 2012 and was replaced by Martin Heinrich.

The Hill, using financial disclosure forms that are at best approximations of the net worth of politicians, had Rep. Darrell Issa, R-Cali., as the most wealthy member of Congress — worth at least $355 million.

Pearce, by comparison, is worth at least $8 million. Because of the way financial disclosure forms are imperfect and only require members of Congress to list their assets in a range, it is impossible to get an exact number.

Pearce has been around the lower-levels of the list for the past few years.

From The Hill:

Pearce’s investments in heavy machinery paid off handsomely in 2012

The congressman saw his wealth climb as he reported that his investment in LFT, an equipment and property rental company in Hobbs, N.M., increased from $500,000 in 2011 to $1 million in 2012.
He also holds at least $5 million worth of stock in Trinity Industries, another equipment rental company headquartered in Hobbs.

Pearce has some so-called “investment land” in New Mexico, worth at least $100,000, according to his 2012 report. Vehicles worth at least $15,000 are attributed to his spouse.

Written by

Matthew Reichbach has blogged about New Mexico politics since 2006. Matthew was a co-founder of New Mexico FBIHOP with his brother and part of the original hirings at the groundbreaking website the New Mexico Independent. Matthew has covered events such as the Democratic National Convention and Netroots Nation. In addition to politics, Matthew is an avid sports fan, especially of the Los Angeles Dodgers, and TV fan.

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