Zoe Lofgren, one of the House managers for President Donald Trump’s impeachment trial, has been serving in the House of Representatives since 1995, representing the 19th District of California. While she didn’t come from a wealthy background, Lofgren has amassed a notable net worth. Here are some essential details about her financial standing:
1. Estimated Net Worth
Zoe Lofgren’s net worth is estimated to be between $1.6 and $2.7 million, based on various sources. In 2012, her net worth was reported at $1.7 million, which increased to $2.715 million in 2016, making her one of the 97th richest individuals in the House of Representatives. However, some reports suggest her net worth was closer to $1.6 million in 2016.
2. Assets and Investments
Lofgren’s assets include a rental property worth up to $1 million and retirement and investment accounts valued at a minimum of $2.1 million. In 2016, she invested in real estate and electric utilities, and she holds multiple bank accounts, mutual funds, and stocks, including investments in Southern Co. and Tesla Motors. Additionally, her husband’s law firm, in which they have a 100 percent interest, was valued between $250,000 and $500,000.
3. Liabilities and Mortgages
In 2016, Lofgren had two liabilities, including a mortgage on a second residence worth up to $500,000 and a mortgage on a primary residence in the same value range. Her yearly report from 2018 indicated a mortgage and her husband’s law firm valued up to $500,000.
4. Modest Family Background
Unlike many politicians, Lofgren did not come from a wealthy family. Her parents worked as a truck driver and a cafeteria cook. She worked night shifts at a Kodak plant in Palo Alto to save money for college expenses that weren’t covered by her scholarship. Lofgren attended Stanford University for her BA and received her law degree from Santa Clara University, with the help of a scholarship.
5. Campaign and Business Relationships
During her re-election campaign, Lofgren’s campaign paid around $348,000 for consulting work to two businesses in which her husband was a partner: his law firm and Collins and Day. While this was a legal practice, Lofgren decided to avoid potential conflicts of interest and questions by not utilizing her husband’s businesses further.
It’s important to note that these figures are estimates and may vary over time. Zoe Lofgren’s net worth reflects her years of service and financial activities, alongside her professional career as a congresswoman.