Zoe Lofgren is one of the House managers for President Donald Trump’s impeachment trial. She’s served in the House of Representatives since 1995 representing the 19th District of California. Lofgren has a net worth of between $1.6 and $2.7 million, but she didn’t come from a family of money. Here’s what you need to know about her net worth.
1. Her Net Worth Is Estimated at Being Between $1.6 & $2.7 Million
According to Open Secrets, her net worth was estimated at $1.7 million in 2012. By 2016, her net worth had grown considerably to $2.715 million, making her the 97th richest person in the House of Representatives. Interestingly, the LA Times estimates her 2016 net worth as being a little lower, around at least $1.6 million.
Roll Call estimates her net worth at $1.6 million, with assets at a minimum of $2.1 million and liabilities at a minimum of $.5 million.
2. Her Assets Include a Rental Property & Retirement & Investment Accounts
The top industries she invested in during 2016 were real estate and electric utilities, according to Open Secrets. She had a total of 40 assets that ranged from $2.1 to $4.8 million in 2016. Among these were a rental property worth up to $1 million, an IRA worth up to $500,000, a number of bank accounts and mutual funds, up to $50,000 in Southern Co., and up to $15,000 in Tesla Motors.
The LA Times notes that her top assets in 2016 were retirement and other investment accounts worth at least $1.3 million and a $500,000 rental property.
She had two liabilities ranging from $500,000 to $1 million in 2016. One was a mortgage on a second resident worth up to $500,000, and the other was a mortgage on a primary residence worth up to $500,000.
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3. In 2018, Her Report Noted One Mortage & Her Husband’s Law Firm Valued at Up to $500,000
A yearly report submitted in 2019 from 2018 showed much of the same, including bonds, a family trust, mutual funds, and her husband’s rollover IRAs in numerous funds including Facebook, Alphabet, Adobe, Apple, AT&T, Bank of America, Berkshire Hathaway, Cintas, Coca-Cola, Colgate, Dominion Energy, Six Flags, Verizon, Visa, Johson & Johnson, and more.
Her husband’s law firm, of which they have 100 percent interest, was valued at $250,000 to $500,000.
Collins reported salaries from his law firm and from Santa Clara Law School. Lofgren reported a pension from the California Public Employee Retirement System worth $72,404, deferred compensation (a minimum retirement distribution) worth $16,700, and the like. In 2018, only one liability was listed – a mortgage for a residence worth $500,000 to $1 million.
4. She Wasn’t Born Into a Wealthy Family
Lofgren wasn’t born into a wealthy family. Lofgren’s parents were a truck driver and a cafeteria cook. According to her bio, she worked night shifts at the Eastman Kodak plant in Palo Alto in order to save money for college expenses that weren’t covered by her scholarship. She also attended law school with the help of a scholarship.
According to her bio, Lofgren and Collins have two children: Sheila Collins and John Collins. She has a BA from Stanford and a law degree from Santa Clara University.
5. Her Campaign Paid a Family Firm for Consulting Work
The Mercury News reported in 2007 that Lofgren’s re-election campaign had paid $348,000 worth for consulting work to two businesses that her husband was a partner in: his law firm and Collins and Day. The latter also did work for other campaigns from the local to the federal level. This was legal, but she decided not to use her husband’s businesses to avoid any questions, she said. She told Mercury News: “The services rendered were legal and proper, but we did not want anyone to question whether we were personally profiting from my re-election campaign.”