FAQ - Mitch McConnell Net Worth – How Much is He Worth?

Mitch McConnell Net Worth – How Much is He Worth?

Mitch McConnell Net Worth

This article covers detailed information about Mitch McConnell net worth along with other essential information about his career, education, political involvements, and more.

So without further ado, let’s start the article without further delay.

Mitch McConnell Net Worth

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According to a recent estimation, Mitch McConnell’s net worth is  $95 Million.

He is one of the richest politicians in the United States. Mitchell McConnell is an American politician and retired attorney serving as the senior United States Senator from Kentucky. He has also been serving as Senate Minority leader since 2021.

Mitch McConnell’s net worth includes the $40 million he received from his family as an inheritance. As you can see, Mitch was born into a high-class family and led a rich lifestyle throughout his career.

Share investments also contribute significantly to Mitch McConnell net worth. He has invested over $25 million in the stock market. With an accounts team managing all his funds, the stock market has skyrocketed his net worth.

His assets contribute almost $115 million to his net worth, while his liabilities and loans come to around $12 million. His investments are $30 million, and his business is valued at around $7 million. He has also received $10 million in gifts and donations.

Mitch McConnell Salary and Earnings

Mitch McConnell is the leader of Republican Senators in the United States and earns around $200,000 yearly. Besides his annual salary, he also gets some perks, as he is eligible for a traveling allowance, house rent allowance, and other perquisites.

His salary grew alongside his experience and power, and inflation contributed significantly.

Besides his salary, his other earning sources are his assets which include his family inheritance and his house. Mitchell currently resides in a 13,000-square-foot luxury mansion located in Kentucky. His assets contribute around $115 million to his net worth.

He has invested in the stock market, and his portfolio gives him a decent profit margin. He also has participated in a few businesses contributing $7 million.

According to sources, Mitchell McConnell has received around $10 million in donations from different business owners and share market investors. It also shows how compromised Mitch McConnell is right now.

Mitch McConnell is 81 years old now, and there have been many mentions by the media and the public for him to retire. It can also be because of all the speculations and how his image is declining among the public.

Throughout his career as a politician, Mitch McConnel made a massive net worth of $95 million.

Mitch McConnell Biography and Early Life

Mitch McConnell Biography and Early Life
Credit- Wikipedia

Addison Mitchell McConnell is an American politician and retired attorney. He is serving as the senior United States Senator from Kentucky. Mitch has held this seat since 1985. He is one of the most prominent figures in United States politics.

He attended duPont Manual High School and graduated with honors from Omicron Delta Kappa from the University of Louisville with a B.A. in political science in 1964. After his graduation, he joined and attended many marches and rallies.

He completed his law degree from the University of Kentucky College of Law in 1967. He was the Student Bar Accosication’s president.

Mitchell was born on February 20, 1942, in Sheffield, Alabama, United States. His mother was Julia Odene “Dean” Shockley, and his father was Addison Mitchell “A.M.” McConnell II.

He grew up in Athens, Alabama. His grandfather, Robert Hayes McConnell Sr., and his great uncle, Addison Mitchell McConnell, owned a funeral home in Athens.

Mitch McConnell is of Scots-Irish and English descent. One of his ancestors fought on the American side in the American Revolutionary War.

Micth’s upper left leg was paralyzed at age two because of a polio attack. He received intensive care at Roosevelt Warm Springs Institute for Rehabilitation. The treatment was life-saving, protecting him from being paralyzed his whole life.

Mitch McConnell Business

Mitch McConnell might not be a part of many businesses, but his wife, Elaine Chao, is very prominent in that area. The couple married in 1993; by then, Elaine had already had some stints in the financial department.

In 1997, from her 18 speeches and groups such as Penn State and Southwestern Bell Corp., Chao Elaine earned $112,000. In 2001, Chao became the country’s first Asian American Woman in the cabinet of George W. Bush, on the boards of at least ten corporations.

Elaine’s father, James Chao, started a shipping business in 1964. The business is now valued at around $1.3 billion. James gave more than half of his money from the business to Elaine and Mitch McConnell at a certain point, skyrocketing their net worth.

Elaine used that gift from his father and joined six other boards at companies such as News Corp, Ingersoll Rand, and Wells Fargo.

Mitch McConnell Education

McConnell’s childhood saw him moving from one place to another for quite some time. One of the reasons was that his father was in the army, and he used to be stationed in different places all the time.

Another reason was his education. That is why when he turned eight, Mitch’s family moved to Louisville, Kentucky, where he attended duPont Manual High School. He was a bright student and was elected student council president in his junior year.

He graduated with honors from Omicron Delta Kappa from the University of Louisville with a B.A. in political science in 1964. After his graduation, he joined and attended many marches and rallies.

He attended the 1963 March on Washington for Jobs and Freedom. Martin Luther King Jr.’s speech inspired him. In 1964, at 22, he attended civil rights rallies and interned with Senator John Sherman Cooper.

He completed his law degree from the University of Kentucky College of Law in 1967. He was the Student Bar Accosication’s president.

Mitch McConnell Approval Rating

Mitch McConnell Approval Rating
Credit- Forbes

As more and more years pass by, Mitch McConnell’s approval rating keeps plummeting. As the leader of the Senate Republicans, McConnell has received much criticism and disapproval from Democratic voters.

He has also received similar disapproval and criticism from left-of-center voters. His unpopularity with Donald Trump was why McConnell had had historically low approval for a senator when looking at the electorate.

In 2012 and 2016, McConnell had the lowest home-state approval rating of any sitting senator. He had a 49% of disapproval rating in 2017. He is also a senator with the highest disapproval ratings of all senators.

His ratings have been in decline for a long time now. Since the start of 2017, his highest approval rating has been 38% positive and 47% negative among Kentuckians. This rating came in the fourth quarter of 2018.

He led the most unfavorable senate candidate race until 2020, when Susan Collins replaced him in that category. Susan Collins got 52% disapproval votes compared to McConnell’s 50 percent.

When is Mitch McConnell up for re-election?

In 2018, McConnell announced that he would run for election in 2020. He started promotions and campaigns a year before the elections.

Mitch stated that he didn’t like starting late and was on a roll in that election. And in 2019, Amy McGrath announced that she would run against McConnell for the Senate elections. She was seriously opposed to the idea of McConnell running again.

McConnell won with 57.8% of the votes in the general election in November 2020. McGrath was only able to conjure up 37.8% of the votes. It is clear that McConnell would not be up for reelection in 2026 as he would be 84 by then. And his current health condition is not helping the case either.

In March 2023, McConnell was hospitalized for a concussion after tripping and falling. Considering his health, he would be in no condition for re-election.

FAQs

What is Mitch McConnell Net worth?

According to a recent estimation, McConnel’s net worth is $95 million.

Who is Mitch McConnell Wife?

McConnel is married to Elaine Chao.

Does Mitch McConnell get any additional salary?

No. Mitch McConnell is the leader of Republican Senators in the United States. He earns around $200,000 yearly, but he gets no additional salary.

What is Mitch McConnell’s approval rating?

In 2012 and 2016, McConnell had the lowest home-state approval rating of any sitting senator. He had a 49% of disapproval rating in 2017. He is also a senator with the highest disapproval ratings of all senators.

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Alex Jones

Alex Jones is a tech-savvy editor at World-Wire, renowned for his expertise in writing detailed technical articles and user-friendly how-to guides. With a background in Information Technology, he excels in demystifying complex tech topics. His work is highly valued for its accuracy and practicality, earning him awards like "Innovator in Tech Journalism" in 2023. Alex's role at World-Wire is pivotal in making technology accessible to a broad audience.

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