Chuck Grassley, 85, is the chairman of the Senate Finance Committee and has represented Iowa in Congress since 1980. He was the chairman of the Senate Judiciary Committee from 2015-2018, before giving up the job to Senator Lindsey Graham in 2019, and remains on the committee.
Grassley is ranked in the top half among his senatorial colleagues in terms of wealth. Senator Grassley’s net worth as of 2015 was estimated to be about $3.3 million, according to the nonprofit group Center for Responsive Politics, which tracks campaign contributions and the sources of other funds in politics.
Here’s what you need to know.
1. Chuck Grassley Owns a Townhouse in Arlington, Virginia
When Congress is in session, Senator Chuck Grassley and his wife Barbara live in a townhouse in Arlington, Virginia. The 85-year-old senator makes it a priority to exercise, and likes to complete what he calls the “Home to Dome” run. He revealed on social media that the townhouse is six miles away from the Capitol building.
An employee with the Arlington County auditor’s office revealed to Heavy that Grassley purchased the townhouse in 1994 for approximately $375,000. Today, the building itself is valued at $380,000. The land it sits on is valued at $362,000. The total value of the property then is about $742,000. The home has 3 bedrooms and is about 1,875 square feet.
According to the Center for Responsive Politics, Senator Grassley had a 15-year mortgage with Wells Fargo on the townhouse, with an interest rate of 5.37 percent. He appears to have paid off the mortgage in 2012, because the home is not listed as a liability in 2013.
2. Grassley and His Family Own a Farm in Iowa
Chuck Grassley’s long list of assets includes farm land in Butler County, Iowa. He has been the proprietor since 1964. The Center for Responsive Politics estimates the value of the land ranges from $700,000 to $1.7 million.
The Butler County Assessor lists multiple parcels of land deeded to Charles E. Grassley and Barbara Ann. They range in value from $7,000 to $54,000 to $162,000. All added up, the current property value is estimated to be close to $1 million.
Several other land parcels in Butler County are listed as belonging to Senator Grassley’s son and grandson.
Senator Grassley takes a lot of pride in his farmland. He frequently posts photos on social media with updates on how the crop is faring.
3. Chuck Grassley Owns a Home in Beaver Township, Iowa
The Buttler County Assessor also lists a house belonging to the senator and his wife. The website states that Chuck Grassley and Barbara Ann purchased the house on April 14, 1998 for $101,500.
The land is currently valued at $63,220. The building itself is assessed at $145,050. Today, the total approximated value of the property is $209,400.
The home, originally built in 1972, sits on just over two acres. There is 1,196 square feet of living space, plus an additional 725 square feet in the basement.
4. The Farm is Grassley’s Greatest Asset, But the Vast Majority of His Assets Appear to be Mutual Funds
Senator Chuck Grassley apparently knows how to plan ahead when it comes to saving for the future. His total assets in 2015 were estimated to be between $1,809,073 to $4,864,000, depending on the state of the market. The farm is his greatest asset, as laid out above.
His cash savings and checking account totals were estimated to be anywhere between $100,000 and $200,000 in 2015. The vast majority of his assets are invested in mutual funds.
Agribusiness is the top industry that the senator invests his money in. Between 2005 and 2015, he invested $21.8 million in crop production. $17.7 million went to “unknown” investments. During that 10-year period, his real estate investments totaled $2.3 million.
5. Grassley’s Wealth Dipped Substantially in 2011, During the Recession
Senator Grassley’s estimated net worth fluctuated substantially over the course of a decade, largely due to the recession.
He hit his peak in 2007, when his net worth was approximately $4.24 million, according to the Center for Responsive Politics. In 2011, that value fell to $2.52 million.
In 2014, Grassley’s estimated net worth rebounded to $3.7 million. But it dipped back down the following year, to approximately $3.4 million.
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