What is Bob Menendez's Net Worth?
Bob Menendez is an American politician who has a net worth of $600 thousand. According to ten years worth of financial disclosures, Robert Menendez's net worth has ranged from a low of $350 thousand to a high of $600 thousand.
Bon Menendez is best known for being a United States Senator from New Jersey. He previously served as mayor of Union City from 1986 to 1992, and from 1993 to 2006 represented New Jersey's 13th congressional district in the US House of Representatives. Menendez was indicted on federal corruption charges in 2015, but was cleared a few years later when the jury was unable to reach a verdict.
In September 2023, Bob and his wife were indicted on charges of accepting $400,000 in gold bars, cash and mortgage assistance from a reputed mob-linked developer who was seeking favors. A raid in June 2022 found $500,000 in cash and 13 gold bars at the Menendez home.
Early Life and Education
Bob Menendez was born on New Year's Day, 1954 in New York City to Cuban immigrants Evangelina, a seamstress, and Mario, a carpenter. The family soon moved to New Jersey, settling in Union City. There, Menendez attended Union Hill High School, where he cultivated his public speaking skills. He went on to become the first in his family to attend college when he enrolled at Saint Peter's College in Jersey City. After graduating with his BA in political science, Menendez attended Rutgers Law School, from which he earned his JD in 1979. He was admitted to the New Jersey Bar the following year.
Early Political Career
At the age of 20 in 1974, Menendez was elected to the Union City Board of Education, in the process becoming the youngest candidate ever to win election to the Board. Later, in 1982, he unsuccessfully challenged William V. Musto for mayor of Union City. Menendez went on to defeat Musto in the election four years later. He served as mayor until 1992. Menendez also served as a member of the New Jersey General Assembly from the 33rd district from 1988 to 1991, and as a member of the New Jersey Senate from the 33rd district from 1991 to 1993.
US House of Representatives
In the 1992 elections, Menendez defeated New Jersey Superior Court Judge Fred J. Theemling Jr. to represent New Jersey's 13th district in the US House of Representatives. He served in the House until he was appointed to the US Senate in 2006. During his tenure, Menendez voted for the failed Kosovo Revolution, sponsored the Iran Nuclear Proliferation Prevention Act of 1998, and voted for both the PATRIOT Act and Authorization for Use of Military Force Against Terrorists. He voted against the Iraq Resolution and the United Nations Reform Act of 2005.
US Senate
In early 2006, after US Senator Jon Corzine was elected governor of New Jersey, Corzine appointed Menendez to fill the remaining year of his Senate term. Menendez went on to defeat Thomas Kean Jr. in the midterms to retain his seat. He would later win reelection in 2012 and 2018. In the Senate, Menendez has established a reputation as a leading advocate for immigration reform, having introduced several pieces of legislation in efforts to overhaul what he deems a broken immigration system. He is a strong proponent of the DREAM Act, and supported the Comprehensive Immigration Reform Acts of 2006 and 2007. Menendez also voted for the Secure Fence Act of 2006 to build physical barriers and expand surveillance at the US-Mexico border. In the area of education, he sponsored the Student Non-Discrimination Act and the Safe Schools Improvement Act of 2011. Among other policy issues, Menendez supports gun law reforms, including universal background checks and a ban on assault weapons.
Menendez has been very involved in the area of foreign affairs. In late 2010, he voted for the ratification of New Start, a nuclear arms reduction treaty between the US and Russia. A few years later, Menendez became chair of the Foreign Relations Committee. He went on to introduce the Organization of American States Revitalization and Reform Act of 2013. Other notable pieces of foreign affairs legislation sponsored by Menendez have included the Support for United States-Republic of Korea Civil Nuclear Cooperation Act; the Ukraine Freedom Support Act of 2014; and the Defending Ukraine Sovereignty Act of 2022.
(Photo by Kena Betancur/Getty Images)
Corruption Allegations
In the summer of 2006, two Republican state lawmakers filed an ethics complaint against Menendez, alleging that he broke conflict-of-interest rules by renting property to a non-profit organization that receives federal funds. However, that organization, which provides social services and health care to the poor, had been receiving federal funding for years before Menendez's congressional tenure. Menendez got into more serious trouble in 2013 when a federal grand jury undertook an investigation of his ties with Florida ophthalmologist Salomon Melgen, a major donor. He had allegedly accepted gifts from Melgen without getting Committee approval, and failed to disclose some of those gifts. Additionally, he was accused of using his position in Congress to benefit Melgen's business. In 2015, Menendez was indicted by the US Department of Justice on charges that included bribery and fraud. Following a mistrial in 2017, all charges were dropped in early 2018 when the jury was unable to reach a verdict.
In September 2023 Bob and his wife Nadine were indicted by a federal grand jury on corruption charges. The indictment alleged that Bob and Nadine illegally accepted $500,000 in the form of cash, gold bars and payments towards a mortgage. A year before the indictment, a police raid on the couple's home found $480,000 in cash stuffed in envelopes and hidden throughout the home. The raid also discovered a dozen gold bars. They allegedly accepted the assets from associates who were allegedly hoping to use the relationship to influence various other charges.
Personal Life
Menendez married his first wife, teacher Jane Jacobsen, in 1976. They had two children, Alicia and Rob, before divorcing in 2005. Alicia became a television commentator on MSNBC, while Rob was elected to Congress in New Jersey's 8th congressional district in 2022. Menendez married his second wife, businesswoman Nadine Arslanian, in 2020.
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