How Much Is Missouri Senator Eric Schmitt Worth? Eric Schmitt’s Net Worth Revealed

How Much Is Missouri Senator Eric Schmitt Worth? Eric Schmitt’s Net Worth Revealed
How Much Is Missouri Senator Eric Schmitt Worth? Eric Schmitt’s Net Worth Revealed

Understanding the financial situation of U.S. Senators is crucial for all American citizens, so in this article we take a look at Missouri’s Eric Schmitt’s net worthAssets, investments and any other relevant information.

Who is Eric Schmitt?

Eric Schmitt pursued a career as a lawyer before entering politics. He earned a bachelor’s degree from Truman State University and later received his Doctor of Law from Saint Louis University School of Law. Schmitt served as a city councilman in Glendale, Missouri, and later as a Missouri State Senator.

He was elected Treasurer of the State of Missouri in 2016 and Attorney General of Missouri in 2018. His political career reached a new high in 2022 when he was elected to the U.S. Senate representing Missouri.

Eric Schmitt’s net worth

Based on Eric Schmitt’s 2022 financial report, his total assets are between 368,024 USD And 1,170,000 USDAdditionally, he has no liabilities, which means that the value of all his assets is equal to his actual net worth.

Disclaimer: Estimating a congressman’s net worth is difficult because disclosure forms do not prescribe exact values. Instead, congressmen report the value of their assets and liabilities within established ranges. While we strive to accurately estimate net worth based on filed documents, the disclosure rules have shortcomings. Private residences, certain personal possessions, and government retirement accounts are often not reported. Large assets may be listed in broad categories such as “Over $1 million” or “Over $50 million” and are potentially worth much more. In addition, most congressmen earn $174,000 annually, but this does not have to be reported.

How did Eric Schmitt make his money?

Eric Schmitt’s wealth comes primarily from his career as a lawyer and politician. In addition, he has made certain strategic investments that have contributed to his net worth. Now let’s take a closer look at his main sources of income:

  • Legal career: Before Schmitt entered politics, he worked as a lawyer, which provided him with a regular and substantial income;
  • Political salary: In his roles as State Senator, State Treasurer, Attorney General, and now U.S. Senator, he has received substantial salaries.
  • Investments: Schmitt has invested in various financial instruments, including mutual funds and exchange-traded funds (ETFs).

Eric Schmitt’s net worth

As mentioned above, the minimum value of Eric Schmitt’s net worth is $368,024 and the maximum is $1,170,000. His portfolio is quite diverse and includes assets from mutual funds and retirement accounts to bank deposits. Of all of Schmitt’s assets, the following are the most valuable:

  • SPDR S&P 500 TRUST ETF SPY mutual funds valued between $100,001 and $250,000;
  • VANGUARD TOTAL STOCK ETF MARKET ETF, valued between $50,001 and $100,000;
  • U.S. Treasury bills: government securities valued between $15,001 and $50,000.

Was Eric Schmitt ever involved in insider trading?

Insider trading is the purchase or sale of shares of a publicly traded company based on material, non-public information about the company. This practice is illegal because it gives an unfair advantage to those with privileged information, thereby undermining market integrity and investor confidence.

Although several members of the U.S. Senate were involved in a major insider trading scandal in Congress in 2020, Missouri Rep. Erich Schmitt was not mentioned in any official documents. Moreover, Schmitt was actively involved in litigation against fraudsters and price gougers during the COVID-19 pandemic, when the whole scandal was taking place.

How much is Eric Schmitt worth?

Senator Eric Schmitt’s net worth remains quite solid and ranges from 368,024 USD To 1,170,000 USD. Nevertheless, according to this estimate, he is among the lower ranks of US senators in terms of his personal wealth. Even though his actual wealth is closer to the upper estimate and he is a millionaire, Schmitt does not come close to people like Rick Scott and Mitt Romney.

Disclaimer: The content of this website does not constitute investment advice. Investments are speculative. When you invest, your capital is at risk.

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