Lawmakers Aren’t Disclosing Their Private Equity Millions

The wealthiest members of Congress from both parties — including vice presidential candidate J. D. Vance — have millions invested collectively in private equity funds. In many cases, they are not required to disclose details about these investments.

Republican Vice Presidential Candidate JD Vance Delivers Remarks In Philadelphia

J. D. Vance delivering remarks during a campaign rally on August 6, 2024, in Philadelphia, Pennsylvania. (Drew Hallowell / Getty Images)


As political battles loom over whether to crack down on Wall Street’s tax breaks and predatory behavior, the wealthiest members of Congress from both parties — including Republican vice presidential candidate J. D. Vance — now have tens of millions of dollars collectively invested in private equity funds.

The quantity and scope of these private equity investments are growing, even as some of these same lawmakers launch bipartisan probes into the industry and Democrats warn the funds “threaten U.S. health care and block Americans from economic success.”

In many cases, these lawmakers — several of whom have recently received hefty private equity political donations — don’t have to disclose much about these investments. The secrecy makes it difficult to discern whether these financial dealings could pose a conflict of interest.

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