Rep. Ilhan Omar has scoffed at claims that she has become rich while serving in the House, but a financial disclosure report shows the Minnesota Democrat’s net worth has suddenly skyrocketed to as much as $30 million.
Ms. Omar, who took office in 2019, reported on a May financial disclosure statement that she held net assets of up to $30 million from partnerships in two companies, a winery and a venture capital firm, both partly owned by her third husband, Tim Mynett.
The two businesses jumped in value dramatically, increasing the couple’s net worth by 3,500% in just one year, the Free Beacon first reported.
Ms. Omar’s assets were valued at a little more than $200,000 last year, according to a financial disclosure report filed on May 14, 2024.
Ms. Omar is a prominent member of the far-left House “Squad,” which calls for higher taxes on wealthy individuals. Ms. Omar has proposed taxing “extremely wealthy” individuals by as much as 90%, according to a 2019 interview with Yahoo News. The money could be used to pay for universal health care or the implementation of the Green New Deal to rid the nation of fossil fuels, she said.
Ms. Omar, a Somali native, married Mr. Mynett in 2020. The two met while he was working for Ms. Omar as a paid political consultant.
She has denied becoming wealthy while in office, but the forms show that the winery she partly owns is worth $1 million to $5 million.
The venture capital management company, Rose Lake Capital LLC, is valued at $5 million to $25 million.
Mr. Mynett is the president and co-founder of Rose Lake Capital.
The firm operates in more than 80 countries seeking “unique global opportunities to create maximum efficiency and sustainability.”
According to the company website, it specializes in “structuring deals, mergers and acquisitions, and capital raising, leveraging decades of experience across various sectors including business, politics, and banking.”
Assets from the firm, founded in 2022, were listed at just $1 to $1,000 on Ms. Omar’s 2024 House financial disclosure form. Ms. Omar disclosed a partnership income of $15,000 to $50,000 from the business.
Among prominent company team members are former Senate Finance Committee Chairman Max Baucus, Montana Democrat, and J. Adam Ereli, a former U.S. ambassador to Bahrain.
She lists eStCru, a winery in Santa Rosa, California, among her assets. Founded in 2020, eStCru “partners with exceptional small-lot growers … to deliver affordable wines right to your door.”
The winery was valued at $15,001 to $50,000 in 2024, according to a financial disclosure report filed by Ms. Omar last year. It was valued at $1 million to $5 million on the 2025 disclosure form.
The lawmaker did not immediately respond to an inquiry from The Washington Times.
Ms. Omar has plenty of company among members of Congress whose financial assets have grown while in office.
Rep. Marjorie Taylor Greene, Georgia Republican, was accused earlier this year of using insider knowledge of President Trump’s shifting tariff policies to profit handsomely in the stock market.
Former House Speaker Nancy Pelosi, California Democrat, is frequently scrutinized and criticized over the unusually high returns her husband’s stock market picks have yielded, leading some to accuse her of using insider knowledge.
Ms. Greene and Ms. Pelosi deny they have made illegal or unfair financial gains.
A spokesperson has said Mrs. Pelosi doesn’t own any stocks or participate in trades and does not get involved with her husband’s stock trading.
Ms. Greene said much of her wealth comes from a construction business owned by her family for more than two decades. She doesn’t personally trade stocks, she said.
Taylor Commercial Inc., in which Ms. Greene holds a 51% interest, is worth $5 million to $25 million and provides the lawmaker with an annual income of up to $5 million.
Her assets include stocks in dozens of companies and U.S. Treasury bills.
“My publicly disclosed portfolio is diversely invested through a financial manager whom I’ve signed a fiduciary contract with. My hard-earned wealth, that I am thankful and proud of HAS NOT in any way come from politics,” Ms. Greene posted on X. “As a matter of fact I made a hell of a lot more money and my life was WAY EASIER before I entered public life.”
Ms. Omar has fought off similar accusations of using her office to get rich.
In February, she blamed a “coordinated right-wing disinformation campaign” for spreading claims that she was a multimillionaire and denied the accusations on social media.
House lawmakers earn an annual salary of $174,000 before taxes.
“I don’t have stock or own a home and am still paying off my student debt. So if you are going to lie on something that is public, maybe try checking my public financial statements and you will see I barely have thousands let alone millions,” Ms. Omar said on X.
A group of lawmakers is pushing for a vote on bipartisan legislation that would ban House members from single-stock trading and require them to either divest or move stocks into blind trusts.
A similar bill cleared a Republican-led Senate committee in July.
• Seth McLaughlin contributed to this report.
• Susan Ferrechio can be reached at sferrechio@washingtontimes.com.