Ryan well-off, not megarich

Thu, 16 Aug 2012 07:15:00 +0000

WASHINGTON (AP) — Republican presidential candidate Mitt Romney found a running mate wealthier than most of us. Although not nearly as rich as Romney, Rep. Paul Ryan has a net worth of about $4.5 million and earned at least $344,000 last year, putting him in the top 5 percent of income earners. Most of his money comes from his marriage and inheritances.

At a glance, Ryan's finances reflect an upper middle-class family: Ryan mortgages his home — six bedrooms with 5,700 square feet on less than one acre — though it's no gilded mansion. He and his wife, Janna, support three children, and she's now a stay-at-home mom.

But a review of Ryan's financial statements by The Associated Press shows he is in the wealthiest percentiles of Americans. His income is between $344,000 and $1.4 million. Much of his money comes from a trust fund set up following his mother-in-law's death, as well as investments in natural resources. He also earns an annual salary as a member of Congress of $174,000.

Salon.com > By Jack Gillum

Ryan well-off, not megarich