Bogdan Stojkov
As Michigan’s most active senator in stock trading, more and more questions are being raised about Gary Peters’ net worth. This is why we decided to explore his personal wealth, assets and investments, and all other relevant financial information.
Who is Gary Peters?
Gary Peters represents Michigan in the United States Senate. As a member of the Democratic Party, Peters has served in various political roles, including the US House of Representatives and Michigan State Senate, before his election to the US Senate in 2014. Known for his active involvement in stock trading, Peters has attracted significant attention for his financial dealings.
Gary Peters’ net worth
According to OpenSecrets—a nonpartisan, nonprofit research group that tracks money in US politics—Gary Peters had an estimated net worth of $4,368,105 in 2018. However, his latest financial disclosure report for 2023 reveals that his assets range between $3,256,236 and $9,953,000 with no reported liabilities, making this range his current net worth.
Disclaimer: Estimating a lawmaker’s net worth is challenging because disclosure forms do not mandate exact values. Instead, lawmakers report the value of their assets and liabilities within specified ranges. While we strive to accurately estimate net worth from filings, disclosure rules have shortcomings. Personal residences, certain personal property, and federal retirement accounts are often not reported. Large assets can be listed in broad categories like “Over $1 million” or “Over $50 million,” potentially worth much more. Additionally, most Members of Congress earn $174,000 annually, but this isn’t required to be disclosed.
How did Gary Peters make his money?
Below is a brief overview of Gary Peters’ income sources.
- Salary: As a US Senator, Peters earns an annual salary of $174,000;
- Investments: He has diversified investments in stocks, bonds, and mutual funds;
- Pension and retirement funds: Having served in various governmental roles, Peters benefits from pensions and retirement savings plans;
- Book royalties: Peters has authored works that provide additional income through royalties.
Gary Peters’ assets
According to his 2023 financial disclosure report, Gary Peters has over 200 assets, and their estimated value ranges from $3,256,236 to $9,953,000, with no reported liabilities. Out of all these assets, the most valuable ones include:
- Vanguard Wellington Fund (VWELX) mutual fund, valued between $250,001 and $500,000;
- Congressional Federal bank deposit, valued between $100,001 and $250,000;
- Lowe’s Companies Inc. (NYSE: LOW) corporate stock, valued between $100,001 and $250,000;
- The Sherwin-Williams Company (NYSE: SHW) corporate stock, valued between $100,001 and $250,000.
Was Gary Peters ever involved in insider trading?
Gary Peters’ active trading has led to scrutiny regarding potential insider trading. While there is no concrete evidence proving illegal activities, his frequent trading raises ethical questions. The STOCK Act, enacted to prevent insider trading among members of Congress, aims to ensure transparency and accountability. However, the public remains concerned about the potential for conflicts of interest.
How much is Gary Peters worth?
To conclude, Gary Peters’ net worth, which ranges between $3,256,236 and $9,953,000, is without a doubt a significant sum of money. However, it’s nothing particularly noteworthy compared to some other senators, such as Rick Scott and Mitt Romney. Despite this, Peters’ active stock trading and lack of insider trading controversies suggest that his net worth is likely to continue growing.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
