Senator Richard Blumenthal of Connecticut is one of the wealthiest members of Congress. His estimated net worth has risen as high as $110 million over the past several years. But in 2018, Roll Call’s Wealth of Congress study put Blumenthal’s approximate net worth at $70 million.
Here’s what you need to know.
1. Senator Blumenthal Reported Income of $248,880 on His 2015 Federal Tax Return and Received a $31,475 Refund
Senator Richard Blumenthal released his federal tax return in 2015. He and his wife Cynthia filed their returns separately.
He listed his salary as $174,000. He reported $18,388 in ordinary dividends, and $55,761 of income from pensions and annuities. The pension stems from his time as Connecticut’s attorney general.
Blumenthal also claimed a capital loss of $1,500. His total gross income for the year added up to $248,880.
Itemized deductions added up to $87,507, bringing his taxable income down to $161,373. Blumenthal had paid $89,461 in taxes for the year. He was granted a refund of $31,475.
2. Richard Blumenthal’s Father-In-Law is Real Estate Investor Peter Malkin. His Company’s Assets Include the Empire State Building
Much of Richard Blumenthal’s estimated net wealth is generated from his wife’s family. His wife, Cynthia, is the daughter of real estate maven Peter Malkin. Malkin is the chairman emeritus of Empire State Realty Trust, which owns a number of buildings across New York City including the Empire State Building.
Blumenthal’s list of assets, as reported by the Center for Responsive Politics, includes a substantial stake in the Empire State building. He has $5 million invested with Empire State Realty OP LLP, and another $2.2 million with Empire State Realty Trust Inc.
According to the Wealth of Congress index, compiled in 2018, Senator Blumenthal’s total real estate assets amount to about $18 million in value.
3. Senator Blumenthal Keeps a Substantial Amount of Cash in his Savings and Checking Accounts
Richard Blumenthal has an estimated $6.8 million available in the bank, according to the Wealth of Congress index.
The Center for Responsive Politics reported seven separate cash/money market accounts as of 2015, six of them with JP Morgan Chase. Blumenthal’s savings and checking account contained more than $3 million in 2015. One of his certificates of deposit with the bank has a maximum value of $1 million. A brokerage account has a minimum listed value of $1 million. And two trusts have a combined maximum value of $750,000.
There is also a separate account listed with Interaudi Bank, with a maximum value of $3,000. The bank is headquartered in New York City, but promotes itself as being a banking service for clients across the globe.
As for total investments, the Wealth of Congress index estimates that the value of Senator Blumenthal’s various investments is approximately $42.6 million. That’s in addition to the $18 million in real estate referenced above.
4. The Blumenthals Own a Massive Home in Greenwich, Connecticut
Richard and Cynthia Blumenthal moved the family to her hometown of Greenwich, Connecticut in 1995. A May 2018 article by the Stamford Advocate stated that the family lived in Stamford from 1984 until 1995.
The house in Greenwich is more than 5,600 square feet, according to the CT Post. It sits on just more than two acres of land and has 13 rooms. The property value in 2010 was estimated to be $2,457,840. Heavy is working to get a current value estimate from the auditor’s office in Greenwich.
According to the Center for Responsive Politics, Richard Blumenthal paid off a 30-year mortgage in 2013. The mortgage was through JP Morgan Chase, with an interest rate of 4.25 percent. The liability is not listed in 2014, leading to the assumption that the remaining balance was settled. The mortgage is listed as pertaining to a “personal residence” but the location is not listed.
5. Excluding the Greenwich, Connecticut Home, Richard Blumenthal Does Not Appear to Indulge in Expensive Luxuries
Richard Blumenthal lives in a large house but that appears to be the extent of his lavish taste. According to a 2010 article in the Connecticut Post, Blumenthal’s vehicles included a 2010 Ford Escape Hybrid, a 2009 Toyota Highlander Hybrid, a 2008 Toyota Prius Hybrid and a 2002 Volvo Station Wagon.
The article stated that Blumenthal wears a Timex watch. The most expensive watch listed on the Timex website is $209.
He also reportedly prefers to get his hair cut at a local barbershop, and prefers to eat at home as opposed to going out for expensive dinners.
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