Bogdan Stojkov
The current Maine representative in the Senate has a formidable career in both politics and business. This is why in this piece, we explore Angus King’s net worth, assets, and investments to uncover how he amassed his substantial wealth.
Who is Angus King?
Born in 1944, Angus King has been a prominent figure in American politics for decades. An independent, King has served as a US Senator for Maine since 2013. Before his tenure in the Senate, he was the 72nd Governor of Maine from 1995 to 2003. King is known for his pragmatic approach that often bridges the gap between Democrats and Republicans, advocating for bipartisan solutions to national issues.
Before his political career, King earned a law degree from the University of Virginia School of Law and worked as an attorney.
Angus King’s net worth
According to OpenSecrets, Angus King’s estimated net worth for 2018 was $9,494,061. He ranked 16th in the Senate in terms of net worth.
Please note that these figures are estimates from a few years back, and the current net worth may vary.
How did Angus King make his money?
As a US Senator, Angus King earns an annual salary of $174,000. This salary, while significant, is only a portion of his overall income. Before his Senate career, as Governor of Maine, he earned a gubernatorial salary that varied over his terms but was considerably less than his current earnings as a senator.
Nevertheless, King’s financial success extends beyond his political roles. Before entering politics, King co-founded Northeast Energy Management, Inc., a company that focused on energy conservation projects. He later sold the company, reaping substantial profits. This business venture provided a solid foundation for his wealth accumulation.
Angus King’s assets and investments
According to the OpenSecrets’ report from 2018, King’s top investments in 2018 included the Maine Tax Exempt Certificate and the Vanguard 500 Index Fund Admiral Shares, each valued at around $3,000,000. Back then, he had 113 assets totaling $3,977,125 to $15,711,000. That said, here’s a list of Senator King’s top 5 assets and investments:
- Muni Bond Cape Elizabeth ME: Sold on Apr. 1, 2015, valued between $15,001 and $50,000;
- Augusta ME 12/01/2016 4.00%: Sold on Mar. 2, 2015, valued between $15,001 and $50,000;
- Main Street Housing Authority: Sold on Feb. 18, 2015, valued between $15,001 and $50,000;
- Fidelity Strategic Real Return Fund: Sold on Jan. 16, 2018, and Apr. 5, 2018, each valued between $1,001 and $15,000;
- Fsicx — Fidelity Strategic Income Fund: Sold on Apr. 4, 2018, valued between $15,001 and $50,000.
Angus King insider trading involvement
Angus King has maintained a clean record concerning insider trading allegations. It appears that he adheres to the strict ethical guidelines that govern financial transactions for public officials. In fact, there haven’t been any reported instances of King engaging in insider trading or any related controversies.
Angus King characterized Republican attempts to block raising the federal debt limit as reckless and only designed to help the party in the 2022 election. He expressed some willingness to modify the filibuster rules so that current and future debt limit increases can pass with 50 votes.
How much is Angus King worth?
Angus King’s net worth of just under $9.5 million showcases a blend of earnings from his political career, successful business ventures, and astute investments. This millionaire figure puts him above many of his Senate peers, yet still way off some of the wealthiest Senators, such as Mitt Romney, Rick Scott, and Mark Warner.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
