John James was the 2018 Republican Senate candidate from Michigan who challenged incumbent Democrat Debbie Stabenow. James promoted himself as a conservative outsider, while pointing out that his opponent spent her entire professional career in politics. James fell short of victory, earning 46 percent of the vote to Stabenow’s 52 percent.
He praised his supporters after the November 6th election. “Thank you, co-pilots. Your love and support means the world to me and my family. Our campaign has been about protecting the American Dream for future generations. We elevated some important issues and our movement isn’t going anywhere. God Bless. #LetsFlyMI”
Thank you, co-pilots. Your love and support means the world to me and my family. Our campaign has been about protecting the American Dream for future generations. We elevated some important issues and our movement isn’t going anywhere. God Bless. #LetsFlyMI
James is a combat veteran and is the president of the business founded by his father: James Group International.
Senate candidates are required to fill out a financial disclosure form prior to the election. It lists assets owned by both the candidate and a spouse. However, under federal law, candidates and lawmakers are only required to give ranges for their assets, as opposed to exact values. As explained in Roll Call’s Wealth of Congress index, they are also not required to report the value of their houses. That can make creating an estimated net worth a bit tricky.
The Wealth of Congress index explains that it reaches its own estimate for sitting lawmakers with this formula: “total minimum reported value of assets minus total minimum reported value of liabilities.”
Using that same formula, a conservative estimate of John James’ net worth comes to $1.25 million.
Here’s what you need to know.
1. John James Earns a Six-Figure Salary as CEO of an Operating Company Within James Group International Inc
Renaissance Global LogisticsJohn James
John E. James reported a salary of $344,126 on his Senate financial disclosure form. That salary came from his role as Chief Executive Officer and President of Renaissance Global Logistics LLC. It is an operating company within James Group International.
James joined the company in 2012 as Director of Operations. On his company bio, James is described as being “responsible for strategic leadership of people and processes in order to maximize both shareholder value and customer satisfaction.”
Renaissance Global Logistics assists clients with warehousing needs. Their list of services includes packaging, consolidating materials, “supplier risk management,” and storage. Major clients include Ford and General Motors. A Bloomberg business profile on the James Group provides this general overview, in part, of the company: “James Group International, Inc. provides logistics and supply chain management solutions to Fortune 500 customers. The company, through its subsidiaries, also provides inventory consolidation services for Fortune 500 manufacturers.”
On his campaign website, James touts his contributions to the company since joining the team in 2012. He says the company now brings in $137 million in revenue, up from $35 million. James also says he has helped to create 100 new jobs in that time period as well.
2. James’ Largest Asset is His Corporate Stock Within James Group International
The Senate financial disclosure form requires candidates and lawmakers to give estimates of their personal holdings, as well as those held by a spouse. According to James’ form, his most lucrative asset is his James Group International corporate stock. The non-public stock is listed as being valued somewhere between $500,000 and $1 million. As explained above, we factored in the lower number for the total net worth estimate.
James also owns stock in commercial real estate in Detroit, according to the disclosure form. The company is listed as OJ Land, Inc. The value of his non-public stock is valued between $100,000 and $250,000.
James and his wife Elizabeth have at least $50,000 in joint savings accounts. They also each own several mutual funds and have retirement accounts. The couple did not report any liabilities greater than $10,000. You can see the full disclosure form embedded above, or on the Senate website here.
3. John James Appears to Own a Large Ranch-Style Home in Farmington Hills, Michigan
John James, his wife and their three children live in Farmington Hills, Michigan. It is a northwestern suburb of Detroit in Oakland County and is popular with families. According to a neighborhood guide, Farmington Hills appears to be known for being “upscale,” with a “charming downtown” area.
According to an online search of the Oakland County register of deeds, James and his wife obtained a mortgage in 2014. The names listed on the record are John and Karen James. His wife’s full name is Karen Elizabeth James, and her maiden name was Lott.
We are not publishing the address of the home for security reasons. But a search of the address on Zillow shows James purchased the house in October 2014 for $462,500. The home was estimated to be worth $474,901 in 2018. It has 5 bedrooms, 4 bathrooms and more than 3,100 square feet. It has an additional 2,352 square feet of space in the finished basement. The home is ranch-style and sits on nearly one acre of land. It has a 3-car garage.
4. John James Contributed a Significant Amount of His Own Money to His Senate Campaign
Center for Responsive PoliticsSenate race in Michigan, campaign spending
John James’ senate campaign raised significantly less money than his opponent. Less than half to be exact, according to the Federal Election Commission. The Center for Responsive Politics laid out the numbers in the graph above.
Debbie Stabenow’s campaign reported $16,679,272 raised as of September 30, and had spent $14,758,629. The Democrat’s campaign also still had $3,034,910 on hand to use in the final days of the campaign. Senator Stabenow did not contribute any personal income.
James’ campaign raised a total of $7,801,611 and spent $5,100,242. The campaign had $2,701,370 in the bank as of September 30. James contributed $50,000 of his own money to the campaign.
5. John James Has Been Recognized in Michigan For His Business Success
John James joined his father’s company in 2012 when he was 31 years old. He quickly achieved recognition for his contributions in both the military and the business world.
That same year, James was recognized by Detroit’s business journal, called DBusiness. The magazine puts together an annual list called “30 in Their Thirties.” Those honored are nominated by the journal’s readers. The article touted his military background, explaining that in Iraq, James was responsible for “planning, managing, and synchronizing the deployment of 24 Apache and 10 Blackhawk helicopters” during Operation Iraqi Freedom. The article went on to say that James had quickly helped to improve communications with the James Group. James was quoted as saying, “Progress can only be deployed rapidly when a team aggregates its successes and minimizes its mistakes.”
In 2014, the Michigan Chronicle included James in its annual “40 Under 40” edition. The list is comprised of African-American individuals “who inspire others through vision and leadership, exceptional achievements, and participation in community service.”