US Senate Minority Leader Salary 2021: Here's How Much Mitch McConnell Earns Annually

KEY POINTS

Mitch McConnell has been representing Kentucky as senator since 1985
He served as deputy assistant attorney general during the administration of President Gerald Ford
His wealth jumped after his wife Elaine Chao received an inheritance following her mother's death in 2007

Sen. Mitch McConnell of Kentucky has been a regular face in news over the last few years. Here’s how much McConnell is worth as of 2021 and his annual salary as Senate minority leader.

The senator has a net worth of $35 million, according to Celebrity Net Worth. The sudden increase in McConnell and his wife's wealth was previously called into question, with Reuters citing a post highlighting how his fortune grew from $2.96 million in 2005 to $26.9 million by 2015.

He has been getting a salary of $193,400 per year after becoming Senate minority leader in 2007, per a 2019 congressional report.

However, the spike in McConnell’s wealth comes from the inheritance his wife, former Transportation Secretary Elaine Chao, received following her mother’s death in 2007, Politico and the Washington Post reported.

"A gift from filer’s relative" worth between $5 million and $25 million was listed in McConnell's 2008 financial disclosure report. The amount McConnell's wife received was estimated by Forbes to be around $9 million.

The McConnell camp commented that the inherited money was invested, with a portion of it going to paying the mortgage on their Washington, D.C. home.

The Kentucky senator’s annual salary is not his only source of funds as a public official. He is also entitled to an allowance called the Senators' Official Personnel and Office Expense Account (SOPOEA), which covers things like office expenses, staff, mail and district office rental.

Other benefits that come with being a senator are health insurance coverage and a pension at the age of 62 if they have served for five years or longer, as explained on the Senate's website.

McConnell has had a long political career, and it’s not expected to end soon. A graduate of the University of Kentucky College of Law, his exposure to the Senate came with internships for former Senators John Sherman and Marlow Cook. He also served as deputy assistant attorney general during the administration of President Gerald Ford.

His devotion to serving the people of Kentucky came after that. He was elected to the Senate in 1984 and assumed office in January 1985. He was re-elected in 1990, 1996, 2002, 2008 and 2012.

McConnell served as Senate minority leader from 2007 to 2011 and then Senate majority leader from 2015 to 2021.