WESTCHESTER COUNTY, N.Y. – U.S. Reps. Nan Hayworth (R – Bedford) and Nita Lowey (D – Harrison) have been named to the “Top 50 Wealthiest Lawmakers” list published by the political paper, The Hill.
To compile the list lof wealthiest members of the U.S. House of Representatives and Senate, the paper examined the lawmakers' 2011 financial disclosure forms. Lawmakers are not required to provide exact dollar amounts for their liabilities and assets, using values in ranges instead. The Hill used the low figure in those value ranges while computing each representative’s net worth.
This year, for the first time, lawmakers were required to disclose mortgage figures for their private residences.
Lowey, who represents the 18th Congressional District, which comprises a large portion of Westchester County and parts of Rockland County, placed No. 22 on the list with an estimated net worth of $14.3 million, down by more than $1 million compared to last year, The Hill reported.
The Hill speculated that the sale of a hedge fund that was worth at least $1 million in 2010 but was valued at zero last year may be attributed to the drop-off in Lowey’s net worth.
The Top 50 list noted that most of the representative’s money is found in hedge funds and property holdings. Her husband, Stephen, has a stake in a profit-sharing plan with the Lowey, Danneberg, Cohen & Hart law firm worth an estimated $500,000 and that his ownership interest in the same firm is worth around $1 million.
The Hill also reported that the couple manages a rental property in the Washington D.C. area worth $250,000. Additionally, Stephen Lowey a holds a $1 million asset in Lowey Family Investment LLC, a limited-liability company located in Rye.
Lowey claimed no liabilities last year.
Hayworth finished No. 24 on the list with an estimated net value of $12.3 million. She represents the 19th Congressionla District, which includes Putnam County and parts of Westchester, Rockland, Orange and Dutchess counties.
The Hill reported that Hayworth’s wealth increased from $9.3 million in 2010 to $12.3 million in 2011, noting that most of her money was earned as an ophthalmologist who worked in both private practice and as an attending physician at Northern Westchester Hospital.
The article reported that Hayword’s investments last year included holdings in the savings and profit-sharing plan of the Mount Kisco Medical Group, where she was once employed. Her husband, Dr. Scott Hayworth, owns property in Westchester and Dutchess counties and holds bonds from several municipal authorities in the New York area.
Hayworth reported no debts in 2011.
The complete Top 50 list can be found here.