Bob Menendez Net Worth
Senator Bob Menendez is the senior United States Senator for the Democratic Party from New Jersey. Despite recent interest in the subject, Bob Menendez’s net worth does not impress, compared to other notables in Washington D.C.
In general, those who find such information useful can generally expect Senator Bob Menendez’s net worth to range between $400,000 and $500,000.
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Estimates from 2015 suggest that his net worth was about $423,500. That includes real estate holdings. His reported holdings vary overall, but not by much. (Source: “Robert Menendez,” OpenSecrets.org, last accessed October 30, 2017.)
So, who is Bob Menendez anyway? He’s a senator representing New Jersey and a member of the Senate Foreign Relations Committee. He has previously served as the committee’s chairman, having been the first Latino to serve in that post. Menendez was born in New York City to Cuban parents.
Alleged Bribery Case
Senator Bob Menendez’s net worth could suffer this year and the next, due to the legal bills he will be receiving.
Indeed, the good senator faces serious bribery charges. The Menendez trial is hardly news. Next April, the trial will have gone on for three years. The indictment began on April 1, 2015. That was no April Fool’s joke.
Federal authorities have accused him of accepting gifts that could have jumped out of the 1980s TV show “Lifestyles of the Rich and Famous.” Menendez’s friend, Dr. Salomon Melgen apparently offered the senator stays in luxurious hotels and fancy travel arrangements. The extravagant largesse was allegedly offered in return for the Senator’s support in cases or quarrels involving Dr. Melgen’s activities with the Senate. (Source: “Sen. Bob Menendez’s trial by the numbers,” CNN, October 30, 2017.)
How much money does Bob Menendez make? Apparently not enough to board certain types of luxurious flights without some sort of financial support. Menendez apparently traveled to Florida, the Dominican Republic, and Paris, France aboard Melgen’s private jet. (Source: “Gifts to Menendez Weren’t Disclosed Because Friend Gave Them, Aide Says,” The New York Times, October 25, 2017.)
Bribery Trial Of Senator Robert Menendez (D-NJ) Begins In Newark Federal Court (Credit:Eduardo Munoz Alvarez/Stringer/Getty Images)
In return, say prosecutors, Menendez used his influence to facilitate 1) a favorable outcome to Dr. Melgen’s $8.9-million dispute with Medicare, 2) winning a security contract in the Dominican Republic, and 3) bypassing several steps in getting U.S. visas for Melgen’s girlfriends. (Source: “Bribery trial prosecutor: Menendez acted as ‘personal senator’ for rich doctor,” The Washington Post, September 6, 2017.)
For the record, both parties have denied the bribery allegations. Yet, there are many witnesses. One of the hints that something was off may have emerged from an examination of Menendez’s holdings. Nevertheless, the bribery accusations derive from the government’s case (the prosecution) against the senior Senator from New Jersey. The government holds that Menendez failed to disclose on the appropriate senate forms that he had received flights from Melgen, an ophthalmologist, in 2006, 2007, 2008, and 2010. (Source: Ibid.)
His lawyer has based the core of the defense on the fact that whatever gifts Menendez may, or may not, have accepted, the two men have enjoyed a longstanding and real friendship. Therefore, it’s improbable to speak of bribery. But, Assistant U.S. Attorney Peter Koski, has refused to budge. He refuted the defense’s case, noting that friendship or not, bribery was involved. (Source: Ibid.)
Should the charges against the Senator from New Jersey be proven true in court, Menendez could be considered to have received gifts valued at about $1.0 million. He could also find himself becoming a resident of “Club Fed,” as it were. (Source: “Sen. Menendez Enters Third Year Facing Criminal Charges. Does Anyone Care?” US News, March 31, 2017.)
The judges in the case are facing considerable pressure. They must be fastidious because failure to pursue the full letter of the law so would compromise just about every other bribery case being prosecuted in a United States courtroom. The result could be to render public officials immune from such charges. (Source: “Juez se niega a desestimar caso de corrupción contra senador Bob Menéndez,” MiamiDiario.com, October 17, 2017.)
Senator Robert Menendez Financial Profile & Asset Distribution
As mentioned above, Senator Robert Menendez’s financial profile is not one of the most exciting in Washington. Every year, members of Congress (and lawmakers in general) must disclose assets, liabilities, holdings, spouses’ assets, employment, and travel reimbursements. In 2010 and in subsequent years, Menendez’s wealth has been estimated at less than $424,000. This puts him below the Senate median. His assets tend toward the reliable. (Source: “Sen. Robert Menéndez,” The Washington Post, last accessed October 30, 2017.)
Despite the allegations against him, Bob Menendez’s net worth appears to have dropped since 2004 by as much as 33%. As for his asset distribution, some $375,000 of his wealth was invested in real estate, while about $115,500 was grouped as a combination of cash, savings, checking accounts, and money market investments. The senator also has (or had) some $75,000 in liabilities. (Source: Ibid.)
Conclusion: How Rich Is Bob Menendez?
So, we have established that Menendez is not especially rich. In fact, by 21st-century rich people standards, he would be considered rather poor. He’s not a Silicon Valley entrepreneur, for example. As a long-time senator, Bob Menendez’s salary would be about $174,000 per year, according to the latest data. (Source: “Executive Order 13655 Adjustments Of Certain Rates Of Pay,” U.S. Office Of Personnel Management, last accessed October 30, 2017.)
