In his new role as Heritage Foundation president, Republican South Carolina Sen. Jim DeMint may very well become a newly-DeMinted millionaire.
Senators are all assumed to have some wealth and while the stereotype is often true, it isn’t always. DeMint, for instance, is barely a thousandaire, according to financial records.
As of 2010, of the 101 members of the Senate — including Vice President Joe Biden, who is officially President of the Senate — DeMint ranked as the fourth poorest senator with an estimated net worth between $16,002 on the low end and $65,000 on the high end, according OpenSecrets.org. His average estimated net worth placed him above only Democratic Sens. Debbie Stabenow of Michigan, Mark Pryor of Arkansas and Republican Sen. Mike Lee of Utah.
If DeMint were to pull a similar salary to outgoing Heritage Foundation President Ed Feulner, he would quickly become a millionaire. According to The Heritage Foundation’s 2010 IRS filing, Feulner made nearly $1,100,000 in total compensation that year. DeMint currently makes $174,000 a year as a senator.
“As of this point, money has not been discussed,” Heritage Foundation Vice President of Communications Mike Gonzalez told The Daily Caller when asked what DeMint’s salary would be.
“I’m sure money will be discussed soon,” he added, laughing.
Gonzalez said that DeMint made the jump because it was the ”right move for him” to engage in the “battle of ideas” he cares about.
DeMint will reportedly resign from the Senate in January and officially take the helm of The Heritage Foundation in April.