Massachusetts Senators Warren and Markey Are Worth Millions

Have you ever tried to figure out how much money you are worth? If you are like me, it isn't much compared to some of the folks who choose to make a living in government service – more specifically, as a member of the United States Congress.

A U.S. Representative can expect to earn an annual base salary of $174,000. The same is true of those who serve in the U.S. Senate.

That salary might sound exorbitant compared to the average New Bedford or Fall River salary, which is about $55,000; but when you consider that members of Congress maintain residences in their home district and Washington, D.C., it isn't.

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Open Secrets says in 2020, over half of the members of Congress were millionaires, and the median net worth of members was about $ 1 million.

Department of Government Efficiency (DOGE) director Elon Musk recently questioned how U.S. Senator Elizabeth Warren of Massachusetts could be worth $67 million while earning an annual salary of $285,000.

Musk was exaggerating as Warren doesn't earn nearly that much and is worth far less.

TheStreet says, "Elizabeth Warren has a net worth of at least $8 million as of early 2025. This number is based on estimates from the homes she shares with her husband, proceeds from her book sales, savings, mutual funds, and other assets."

PolitiFact says, "Warren reported that the value of her assets in 2023 ranged from about $4 million to more than $9 million."

24/7 Wall St says Massachusetts' other U.S. Senator, Ed Markey was worth about $900,000 in 2020; however, Finbold estimates Markey's net worth at between $1.8 million and $3.8 million.

Not bad for a school teacher from Oklahoma City and an ice cream vendor from Malden.