Republican Lawmaker's Net Worth Has Grown 340% Since Entering Office

Arizona Congressman Trent Franks has grown exponentially wealthy while serving in Congress according to the Phoenix New Times. (Photo Credit: Youtube)

Arizona Congressman Trent Franks has grown exponentially wealthy while serving in Congress according to the Phoenix New Times.

According to data analyzed by Ballotpedia, Franks' net worth has increased by $25,640,241 since he was first elected in 2003. During the time he's been in Congress, he's seen his net worth go up by 340 percent, averaging out to a 42 percent increase each year.

During the time that Frank's been in Congress his net worth has gone up 340% while during this same time period the average American saw their net worth decline.

During that same time period, the average American citizen saw their net worth decline by 0.94 percent.The most recent disclosure statement available, which dates to 2014, makes the real source of Frank's wealth clear: oil. His most lucrative assets are his shares in Trinity Petroleum, with a reported value in the range of $5 million to $25 million.

Franks is heavily invested in the oil and gas industry. He was his family business's CEO (an oil business) prior to entering Congress.

According to Open Secrets, no other lawmaker is more heavily invested in the oil and gas industry. Trinity Petroleum is something of a family business: The Arizona Corporation Commission lists Franks' brothers Lane and Travis as the company's director. It also shares an address with Liberty Petroleum, an oil-and-gas exploration company that Franks co-founded with his brother Lane in 1997. Trent Franks served as the company's CEO before running for office, but stepped down after being elected to Congress.

Comments
No. 1-2
Hopaq
Hopaq

This is what MUST be stopped!

BWestbrookAZ8
BWestbrookAZ8

Thank you for posting this article. I'm running against Trent Franks in 2018. If you would like to learn more about my campaign, please visit Westbrook2018.com. My Twitter handle is @BWestbrookAZ8.