Griffith Climbs to 28th Richest Member

Posted October 20, 2010 at 1:05pm

Rep. Parker Griffith continues to climb the ranks of Roll Call’s 50 richest Members of Congress, leapfrogging several lawmakers after he amended his annual financial report.

According to a revised financial disclosure form Griffith filed Oct. 13, the Alabama Republican now claims a minimum net worth of at least $9.29 million, which would make him the 28th richest lawmaker in Roll Call’s annual survey.

Griffith ranked 33rd when Roll Call published its list in September, based on his initial report showing a net worth of at least $8.29 million.

The Republican boosted his bottom line in October when he disclosed an investment valued at $1 million to $5 million in Green River Enterprises Inc.

Griffith had previously reported receiving more than $370,000 from the same firm as a “Shareholder/Officer” but had not included the investment in the section of his financial report that details each lawmaker’s assets.

His new report details that income as “shareholder distribution” that earned $100,000 to $1 million. The report details Griffith’s calendar year 2009 finances.

Members must file annual disclosure reports detailing their personal investments and liabilities such as stocks, real estate and credit card debts.

To determine the richest Members, Roll Call adds up the minimum value of total assets reported by each lawmaker on their annual financial disclosures and subtracts the minimum liabilities.

An asset valued at $5 million to $25 million is counted at the lesser amount, as is a liability valued at $1 million to $5 million.

Griffith similarly ascended the 50 richest ranks for calendar year 2008 when he filed an amendment to those forms revealing an additional $1 million in investments.