September 2, 2014

cover story

Report: Net Worth of Your Politicians

For the most part, Florida's elected officials suffered through the economic downturn like the rest of us. But some fared better.

Amy Keller | 9/1/2009

The Winners Circle

True winners were few and far between in the Florida House and Senate. In fact, Florida Trend was unable to find any state lawmaker whose net worth grew substantially in 2008-09. That said, a few lawmakers are in slightly better shape now than they were a year ago.

Ron Reagan
Ron Reagan
Rep. Ron Reagan (R), a Bradenton insurance agent, saw his net worth increase 13% between 2008 and 2009 from $554,660 to $628,525. Reagan’s 40% stake in MGA Insurance, a Lakewood Ranch insurance agency, grew in value from $219,000 last year to $377,200 today. His net worth would have been higher were it not for declining property values.

Yolly Roberson
Yolly Roberson
• Most lawmakers who grew their net worth last year did it the old-fashioned way — by paying down debts and increasing savings. Rep. Yolly Roberson (D), a Miami attorney who was worth $1,044,000 in 2007, saw her net worth climb slightly to more than $1,139,750 by the middle of 2009. While there were no material changes to her assets, she improved her financial position slightly by paying down her mortgage, a student loan and her credit cards.

John Legg
John Legg
Rep. John Legg’s (R) financial disclosure statements tell a similar story. While the value of his Pasco County home dipped slightly, the Pasco County charter school administrator and teacher paid down his first and second mortgages and his car loan. As a result, his net worth grew 6% from $83,579 in June 2008 to $88,857.

Stephen Wise
Stephen Wise
> Similarly, Sen. Stephen Wise (R), a retired educator, improved his financial bottom line by 16% during the midst of this recession by paying down his mortgage, paying off the loans on his 2004 van and 2005 car and cutting his credit card debt in half.

Tags: Politics & Law, Banking & Finance, Government/Politics & Law

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