I would question Herb Kohl's net worth. This guy a
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I would question Herb Kohl's net worth. This guy and his brothers are heirs to the Kohls Department Stores. Apparently it's all in how they spin it!
Sen. Herb Kohl (D-Wis.) $9.23 Million
-
Assets
$110.23 Million -
Liabilities
$101.00 Million -
Change
-298.9%
Kohl bounces from the bottom of the list back to the ranks of the 50 Richest.
While the Wisconsin Senator ranked as the poorest Member of Congress in 2009 — with a minimum net worth of negative $4.64 million — it had more to do with an imperfect system than with his actual wealth.
Financial disclosure forms cap the amount of wealth a Member can report on any one asset to a maximum amount of “over $50,000,000.”
The Wisconsin Senator owns the NBA’s Milwaukee Bucks and reported the team in that category. According to a Forbes analysis of NBA team worth in January 2011, the Bucks are more likely worth about $258 million, the lowest among the league’s 30 teams.
Even without a specific value, that asset alone would put Kohl among the richest Members, but the Senator also reported the team’s liabilities, usually canceling out his assets.
Even as he added new loans in 2010, Kohl reduced his overall liabilities to $101 million from $115 million in 2009.
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