Executive Summary
Representative Maxine Waters’ net worth is estimated between $2 million to $3.74 million as of 2024, representing significant growth from earlier minimum estimates of $90,000 (2014-2016). Her wealth primarily consists of real estate holdings, particularly her Los Angeles residence, diversified investments, and is offset by substantial mortgage liabilities.
Current Net Worth Estimates
2024 Valuations
- QuiverQuant: $3.74 million (based on 2023 disclosures)
- AfroTech: $2 million (2024 assessment)
Historical Estimates
- 2012: $964,007 (Ballotpedia)
- 2014-2016: $90,000 minimum (Los Angeles Times analysis)
The substantial variation in estimates reflects different calculation methodologies and the inherent limitations of congressional financial disclosure requirements, which report assets and liabilities in broad ranges rather than specific amounts.
Major Assets Breakdown
Real Estate Holdings
Primary Residence:
- 549 S. Lucerne, Los Angeles (Windsor Square): $1,000,001 – $5,000,000 range
- Los Angeles County assessor valuation: $2.4 million
- Jointly owned with spouse
Additional Properties:
- 701 W. Barstow, California: $15,001 – $50,000 (jointly owned)
- 2201 Kirk St., Houston, TX: $1,001 – $15,000 (spouse-owned)
- Tract Unit 3357, Lot 96, CA (Kern County): $1,001 – $15,000 (spouse-owned)
Investment Portfolio
Mutual Funds:
- Merrill Lynch: Blackrock Sustainable: $50,001 – $100,000
- Merrill Lynch: Blackrock Global: $15,001 – $50,000
- DWS CA Tax Free Fund: $15,001 – $50,000
Other Investments:
- American Golf Jt. Venture: $100,001 – $250,000
- Chesapeake Operating LLC: $100,001 – $250,000
- One United Bank Stock Appreciation Right: $100,001 – $250,000
Key Assets Summary (2023/2022)
| Asset Name | Asset Type | Owner | Value Range |
|---|---|---|---|
| 549 S. LUCERNE | Real Property | Joint | $1,000,001 – $5,000,000 |
| AMERICAN GOLF JT. VENTURE | Investment | Spouse | $100,001 – $250,000 |
| CHESAPEAKE OPERATING LLC | Investment | Spouse | $100,001 – $250,000 |
| ONE UNITED BANK | Stock Appreciation Right | Spouse | $100,001 – $250,000 |
| MERRILL LYNCH: BLACKROCK SUSTAINABLE | Mutual Fund | Spouse | $50,001 – $100,000 |
| 701 W. BARSTOW | Real Property | Joint | $15,001 – $50,000 |
| DWS CA TAX FREE FUND | Mutual Fund | Spouse | $15,001 – $50,000 |
| MERRILL LYNCH: BLACKROCK GLOBAL | Mutual Fund | Spouse | $15,001 – $50,000 |
| 2201 KIRK ST. HOUSTON, TX | Real Property | Spouse | $1,001 – $15,000 |
| CONGRESSIONAL FEDERAL CREDIT UNION | Bank Account | Member | $1,001 – $15,000 |
| ONE UNITED BANK | Bank Account | Spouse | $1,001 – $15,000 |
| TRACT UNIT 3357,LOT 96,CA | Real Property | Spouse | $1,001 – $15,000 |
| WELLS FARGO BANK | Bank Account | Spouse | $1,001 – $15,000 |
| FIA CARD SERVICES | Bank Account | Spouse | $1 – $1,000 |
Major Liabilities
Mortgage Debt
- 549 S. Lucerne Blvd, Los Angeles (Chase): $1,000,001 – $5,000,000
- 2105 1/2 S St. NW, Washington, DC (Chase): $250,001 – $500,000
- 1044 W. 82nd, Los Angeles (Wells Fargo): $100,001 – $250,000
Other Liabilities
- Congressional Federal Credit Union revolving charge: $10,000 – $15,000
Key Liabilities Summary (2023/2022)
| Creditor | Type | Owner | Value Range |
|---|---|---|---|
| Chase | Mortgage | Joint | $1,000,001 – $5,000,000 |
| Chase | Mortgage | Joint | $250,001 – $500,000 |
| Wells Fargo | Mortgage | Joint | $100,001 – $250,000 |
| Congressional Federal Credit Union | Revolving Charge | Member | $10,000 – $15,000 |
Income Sources
Primary Income Streams
- Congressional Salary: ~$174,000 annually
- Husband’s NFL Pension: Sidney Williams’ retirement benefits
- Investment Income: From spouse’s diversified portfolio
- Royalty Income: Chesapeake Operating LLC generated $15,001 – $50,000 (2020)
Additional Income
- Public speaking engagements (limited)
- Book royalties (minimal)
Financial Controversies and Investigations
Family Business Dealings
- 2004 Los Angeles Times Report: Family members earned over $1 million from business dealings with companies Waters supported
- Campaign Payments: Daughter Karen Waters and Progressive Connections received over $1.1 million from Waters’ campaigns since 2003
- 2020: Waters was the only federal politician utilizing slate-mailing operations
OneUnited Bank Ethics Investigation
- Background: Husband Sidney Williams served on OneUnited board (2004-2008)
- Investigation: Office of Congressional Ethics found “substantial reason to believe” Waters violated conflict-of-interest rules
- Outcome: House Committee on Ethics found “not clear and convincing evidence” of wrongdoing by Waters
- Result: OneUnited received $12 million bailout; Waters cleared of direct involvement
Financial Disclosure Limitations
Congressional financial disclosures present several challenges:
- Broad Value Ranges: Assets reported in ranges like “$1,000,001 – $5,000,000”
- Exclusions Permitted: Certain spouse and dependent assets may be excluded
- Blind Trusts: Details not required for qualified blind trusts
- Calculation Difficulties: Exact net worth impossible to determine
Key Financial Trends
Growth Trajectory
- 2012: $964,007
- 2014-2016: $90,000 minimum
- 2023-2024: $2-3.74 million
Strategy Characteristics
- Real Estate Focus: Primary wealth driver through property appreciation
- Long-term Holdings: Minimal stock trading activity
- Leveraged Position: Significant mortgage debt against real estate assets
- Spousal Management: Many investments held by husband Sidney Williams
Conclusion
Maxine Waters’ net worth reflects a stable, long-term financial strategy centered on real estate appreciation and diversified investments. While her wealth has grown significantly from earlier estimates, the exact figure remains challenging to pinpoint due to congressional disclosure limitations. Her financial profile demonstrates the typical wealth accumulation pattern of a long-serving public official, with steady income sources and strategic asset management, though it has been subject to ethical scrutiny regarding family business dealings and potential conflicts of interest.
The substantial mortgage liabilities against her real estate holdings indicate a leveraged investment approach, common among real estate investors but directly impacting net worth calculations. Her husband’s significant role in managing investments and his professional background contribute substantially to the household’s overall financial stability.
