Top 10 members of Congress who earned the most out of trading stocks in 2023
Ten best stock traders in Congress in 2023
On Tuesday, January 2, financial watchdog group Unusual Whales released its annual report on congressional stock trading, revealing once again the notable success of Congress in the stock market. According to Daily Mail, the Congress members have made around 11,000 transactions in 2023, amounting to about $1 billion in volume. However, the latest report has fuelled calls to ban the nation's lawmakers, including their immediate family, from allowing them to trade stocks. GOP Sen. Josh Hawley introduced the bill for the same, known as 'The Peloci Act', in January 2023. Republicans and Democrats have an equal spot in the top ten, with five from each party. Let us take a look at the top ten US lawmakers who made the most in 2023 via stock trading.
Rep. Brian Higgins
Democratic Congressman Brian Higgins topped the list. According to the report, the New York lawmaker made a whopping 238.9% stock returns in 2023. He has outdone all his colleagues by a large margin.
Rep. Mark Green
Republican lawmaker Mark Green comes in the second position, however, much below Higgins. 'Unusual Whales' has marked his stock return for the previous year as 122.2%. Responding to the report, the Tennessee Congressman issued a statement declaring his lack of knowledge in stock holdings and that his broker manages his family's investments. "All transactions and stocks I own can be viewed online," the statement read.
Rep. Garret Graves
Louisiana Congressman Garret Graves made a 107.6% stock return in 2023. A close ally of former Hosue Speaker Kevin McCarthy, the GOP lawmaker is third among his fellow Congress members. He represents the 6th congressional district of the state.
Rep. David Rouzer
GOP lawmaker David Rouzer's stock return for 2023 is 105.6%. The North Carolina Congressman is the last to pass the 100% mark. He has been representing the state's 7th congressional district since 2015.
Rep. Seth Moulton
Democratic Rep. Seth Moulton made it to the top five. 'Unusual Whales' reported that Massachusetts's Congressman saw stock trading returns of 80% in 2023. Since January 2015, he has been representing the 6th congressional district situated in northeastern Massachusetts.
Sen. Ron Wyden
Democratic Sen. Ron Wyden ranks sixth among his fellow Congressmembers in the stock returns for the previous year. According to the report, the Oregon lawmaker made 78.5% returns on his investment in 2023. A member of the Senate Finance Committee, he has been in the chamber since 1996.
Rep. John Rutherford
GOP Congressman John Rutherford has made 10% fewer returns than Wyden on the list. The Florida lawmaker earned 69.1% stock returns for his investments in 2023. A former police officer, he represents Florida's 5th congressional district. As a member of the House Ethics Committee, he allegedly violated the STOCK Act more than 150 times in 2022.
Sen. Richard Blumenthal
Democratic Sen. Richard Blumenthal made 68.1% stock returns in 2023 from his investments, according to the 'Unusual Whale' report. A Senate member representing Connecticut since 2011, he is one of the wealthiest Senators with a net worth of more than $100 million, according to the Connecticut Post. In 2022, he rebuked a similar report, saying he owned no individual stock.
Rep. Nancy Pelosi
Former House speaker and Democratic Congresswoman Nancy Pelosi ranked ninth in the 'Unusual Whales' Report. The California lawmaker made a 65.5% profit in stock returned in 2023. This is in contrast to the 2022 report, where her returns had a 19.8% loss.
Rep. Pete Sessions
Republican lawmaker Pete Sessions is the tenth one on the list. According to the report, he has made a 63.3% profit in stock returns in 2023. He has been representing Texas's 17th congressional district since 2021. According to a New York Times report, Sessions purchased shares of the Bank of Nova Scotia a day after being named as a new House Financial Services Committee member on June 29, 2021.
