Saturday, December 27, 2014

Kennedy Dynasty Rep. Joe Kennedy III: 23rd Richest Member of U.S. Congress?

The Kennedy Dynasty’s current Massachusetts representative in Congress, Rep.Joseph P. Kennedy III, is the son of former Massachusetts Rep. Joseph P. Kennedy II, the grandson of RFK and nephew of JFK and the late long-time U.S. Senator from Massachusetts, Ted Kennedy. And like previous representatives of the Kennedy Dynasty in the U.S. Congress or White House, Rep. Joe Kennedy III apparently doesn't have to worry too much about having to work for a living in order to come up with next month’s rent or mortgage payment. As Ted Nesi observed in a column:

“……Congressman Joseph P. Kennedy III isn't just one of the youngest members of Congress. He's also one of the wealthiest.

“Kennedy, D-Mass., had a personal fortune of at least $15.2 million in 2012… That makes Kennedy the 23rd-richest congressman or U.S. senator.
The 32-year-old owns several trust funds worth $500,000 to $1 million and owns stock in a number of major corporations…”

But in the same column, Nesi also noted that “The Kennedys haven't been on Forbes’ list of the nation’s 400 richest families since 1994,” although “the magazine estimated the family’s combined fortune peaked at $850 million in 1990, which would be almost $1.5 billion in today’s dollars.”

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