$60.2M from ’90s Startups Make Boulder’s Jared Polis 7th Richest Congressman
Jared Polis, former tech entrepreneur, Techstars co-founder, longtime figure in Colorado’s tech scene, and now Boulder’s representative in Congress, is the seventh wealthiest lawmaker in Washington, according to rankings released today by the Hill, a print and online publication that covers politics and government.
The Democratic Congressman’s personal wealth is an estimated $60.2 million, according to the report. Polis’s fortune is the result of two online retail sites he helped launch before beginning his political career about a decade ago. He was elected to Congress in 2008.
In the mid 1990s, Polis helped create the website for Blue Mountain Arts, the Boulder-based greeting cards company owned by his family. Excite@Home purchased the site in 1999 for a combination of $350 million in cash and what was then $430 million worth of stock.
According to the Hill, Polis reported having a blind trust worth at least $25 million and has investments in software and Internet companies. Polis was one of a few former tech entrepreneurs to rank in the top ten, alongside lawmakers who inherited or married into their wealth.
The Hill uses mandatory financial disclosure filings to come up with a “conservative estimate” of a federal legislator’s minimum net worth. California Congressman Darrell Issa, a Republican who represents San Diego, topped the list with a net worth of at least $355 million. His money comes from cofounding Directed Electronics, the company that sells the Viper car security system, and subsequent investments.