Nemanja Curcic
Mike Rounds is an American businessman and politician who has served as the U.S. Senator from South Dakota since 2015. A former partner in an insurance and real estate company, he amassed a notable fortune before entering politics. This article will estimate Senator Mike Rounds’ net worth and track down his publicly available sources of income.
How rich is Mike Rounds?
Mike Rounds obtained a B.S. in political science from South Dakota State University in Brookings. Before entering politics, he was a former partner in Fischer Rounds & Associates, an insurance and real estate company with offices across South Dakota.
Rounds entered politics in 1991 when he was elected to the South Dakota Senate. In the 2002 elections, he became the Governor of South Dakota and remained in the post until 2011. Ultimately, he won the 2014 election for the U.S. Senate and became the Senator for South Dakota in 2015, which he remains today.
Mike Rounds has acquired substantial wealth, likely through his business background and insurance and real estate involvement.
What is Mike Rounds’ 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 Mike Rounds make his money?
Besides politics, Rounds has ties to real estate and insurance industries. His publicly known sources of income include:
- Private insurance and real estate business: Mike Rounds was a partner in Fischer Rounds & Associates, an insurance and real estate business. Furthermore, he owns several private businesses today, including farms (FRA, LLC) and investment companies (Lake Sharpe Investments, LLC);
- Investing: Besides his private company investments, Rounds has invested heavily in savings accounts and mutual funds, as observed in his financial disclosure forms;
- Politics: Rounds first entered politics in 1991 as a member of the South Dakota Senate. Today, he is a U.S. Senator from South Dakota, with an annual salary of $174,000.
Mike Rounds’ assets
Rounds’ 2023 financial disclosure form reveals the Senator from South Dakota’s hefty portfolio of assets, including:
- Roundtable Farm – a farm in Fort Pierre, South Dakota, valued between $1,000,001 and $5,000,000;
- Oahe Federal Credit Union deposit– a savings account valued between $250,001 and $500,000;
- FRA Farm – a farm in Pierre, South Dakota, valued between $250,001 and $500,000;
- Aeronics, Inc. – an equipment manufacturing LLC valued between $250,001 and $500,000;
- Vanguard Total Bond Market ETF (BND) – a mutual funds position valued between $250,001 and $500,000.
Insider trading involvement
In May 2015, Senators Mike Rounds and Jack Reed sent a bipartisan letter to the SEC urging it to make stricter insider trading rules. That said, Newsweek‘s 2021 article lists Rounds among the Republican senators found trading individual stocks. His 2023 financial disclosure form shows no individual stock ownership or trading.
Who is Mike Rounds?
Mike Rounds was born in Huron, South Dakota, on October 24, 1954. He holds a bachelor’s degree in political science. Before becoming a senator, he had spent significant time in the real estate and insurance business.
A member of the Republican Party, Mike Rounds entered politics in 1991 as a member of the South Dakota Senate. He became the governor of South Dakota in 2003 and a U.S. Senator from South Dakota in 2015.
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Known for his conservative values, Rounds focused on agricultural development, national defense, limited government, and libertarian economics. He has also been active in addressing various cybersecurity threats and engaging in various bipartisan efforts, stressing his pragmatic approach to politics.
The bottom line
The Senator from South Dakota’s significant wealth puts him among the more well-off U.S. Senators. Specifically, Mike Rounds’ net worth is between $3.24 million and $12.195 million.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
