What is Tom Emmer's net worth?
Tom Emmer is an American politician who has a net worth of $300,000. Tom Emmer has not released a financial disclosure since 2018. In that disclosure Emmer estimated his net worth to be $32,000. That was the lowest his net worth had been in all of his disclosures ranging from 2013 – 2018 and made him the 315th richest member of Congress. His 2013 disclosure estimated his net worth to be $515,000. The next year it dropped to $440,000, followed by $165,000 and then $32,000 in both 2017 and 2018.
Emmer's financial disclosure showed his two largest assets as of 2018 were a rental property in Delano, Minnesota and an IRA. He estimated the value of the the rental property at $100,000 – $300,000 and the IRA at $15,000 – $50,000. His biggest liabilities were two loans, both in the range of $100,000 – $250,000, one of which was for his primary residence.
Tom Emmer was elected to Congress, representing Minnesota's 6th district in 2015. He came to national attention in October 2023 when he was chosen as the GOP's top candidate to replace former House Speaker Kevin McCarthy. If elected, Tom would be the second-in-line in Presidential succession.
As we detail later in this article, Tom is one of the most vocal proponents of cryptocurrency in Congress.
Early Life
Thomas Earl Emmer Jr. was born in South Bend, Indiana on March 3, 1961. His family soon settled in Edina, Minnesota. Tom attended St. Thomas Academy, a military college prep high school. For college he started out at Boston College but ended up finishing at the University of Alaska-Fairbanks, graduating in 1984 with a degree in political science. He then earned a Juris Doctor from William Mitchell College of Law in Saint Paul, Minnesota, graduating in 1988.
(Photo by Alex Wong/Getty Images)
Career
Emmer practiced law in Minnesota, Wisconsin and North Dakota for the next two decades, at first at a large firm before opening his own practice.
From 2004 to 2008 he served in the Minnesota state House of Representatives.
In 2010 Tom ran for governor of Minnesota, but ultimately lost.
Between 2010 and 2015 Tom worked as a lobbyist in Minnesota and co-hosted a talk radio show.
When Michelle Bachmann made a surprise announcement in May 2013 that she was going to retire from her seat representing Minnesota's 6th Congressional district, Emmer threw his hat in the race. He won his primary, carrying 73% of the vote and then easily defeated his Democrat opponent in the November general election.
In October 2023 Tom rose to prominence when he was chosen by his fellow GOP members as the candidate to replace Kevin McCarthy as Speaker of the House. He was selected after failed bids by Jim Jordan and Steve Scalise. Unlike both Jordan and Scalise, Tom voted to certify the 2020 presidential election results.
He sits on the powerful House Financial Services Committee. In 2022 Tom was one of 39 House Republicans who voted to codify federal recognition of same-sex marriage. He has supported proposals that would place some limits on access to abortions and has stated that the issue should be decided on a state level.
Crypto Support
Emmer is a vocal supporter of the crypto industry. He is co-chair of the Congressional Blockchain Conference and has co-sponsored legislation to loosen crypto regulations. He once referred to Gary Gensler, the Chair of the SEC, as a "very arrogant"… "incompetent cop on the beat."
Tom does not own any digital currencies but he has accepted roughly $80,000 in donations (in the form of USD) from a dozen crypto executives and organizations, including the now-disgraced US unit of Sam Bankman-Fried's FTX. Though it should be noted that literally 33% of congresspeople accepted donations from FTX. Emmer received $8,700 from Ryan Salame, a former top executive at FTX.
When he was once asked about his lack of direct crypto ownership, Tom explained:
"This place [Congress] is such a hellhole … If I suddenly have crypto that I'm invested in, people will [say], "'Oh, he's not interested in the policy, he's making something off this.'"
Personal Life and Real Estate
Tom and his wife Jacqueline "Jacquie" Emmer have been married since 1986. They have seven children.
In 2002 the Emmers paid $425,000 for a 2,600 square foot home in Delano, Minnesota. Today the home is likely worth around 600,000.
Read more: Tom Emmer Net Worth
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