In a stunning revelation, Rep. Ilhan Omar (D-Minn.), a prominent member of the progressive “Squad” in Congress, has reported a net worth of up to $30 million in her latest financial disclosure, filed in May 2025. This figure marks an astonishing 3,500% increase from the previous year, when her assets were valued at just $51,000. The dramatic surge in wealth comes mere months after Omar vehemently denied claims of being a millionaire, calling such assertions “ridiculous” and “categorically false” in public statements. The source of this newfound fortune, primarily tied to her husband Tim Mynett’s business ventures, has sparked widespread shock and scrutiny, raising questions about the couple’s financial dealings and the transparency of their rapid wealth accumulation.
Omar, who has served as the U.S. Representative for Minnesota’s 5th Congressional District since 2018, has long positioned herself as a relatable figure, emphasizing her background as a Somali refugee and a working mother with student loan debt. In February 2025, she took to social media to dismiss speculation about her wealth, stating, “My salary is $174,000 before taxes. I don’t have stock or own a home and am still paying off my student debt. So if you are going to lie on something that is public, maybe try checking my public financial statements and you will see I barely have thousands let alone millions.” She further told Business Insider that claims of her being a millionaire were part of a “coordinated right-wing disinformation campaign,” asserting that she was not wealthy like some of her congressional colleagues. However, her latest financial disclosure paints a starkly different picture, showing a net worth ranging from $6 million to $30 million, a figure that has left observers reeling.
The bulk of this wealth is attributed to two businesses owned by Mynett: eStCru LLC, a winery based in Santa Rosa, California, and Rose Lake Capital LLC, a Washington, D.C.-based venture capital firm. According to the disclosure, the winery’s assets were valued at between $1 million and $5 million in 2024, a significant jump from the $15,001 to $50,000 reported in 2023. Even more striking is the valuation of Rose Lake Capital, which soared from less than $1,000 in 2023 to between $5 million and $25 million in 2024. The firm claims to manage $60 billion in assets, boasting “deep global networks” and expertise in areas such as structuring legislation, according to its website. These valuations have raised eyebrows, particularly given that both businesses were reportedly struggling financially as recently as early 2023, with Rose Lake Capital holding just $42.44 in its bank account and eStCru facing a lawsuit from an investor alleging fraud.
The rapid growth of these ventures has fueled speculation about the legitimacy of the couple’s wealth. In 2023, eStCru was sued by Washington, D.C., businessman Naeem Mohd, who claimed Mynett and his business partner, Will Hailer, failed to deliver on a promise to triple his $300,000 investment in the winery within 18 months. The lawsuit was settled in November 2024 for an undisclosed amount, but court documents revealed the winery had only $650 in its bank account at the time. Similarly, Hailer settled a separate lawsuit for $1.2 million in August 2024, despite reportedly having less than $750 in his accounts earlier that year. These settlements, combined with the explosive growth in asset valuations, have led critics to question how such wealth was amassed in such a short period.
Omar’s financial history has not been without controversy. In 2020, Federal Election Commission filings revealed that her campaign paid $2.9 million to Mynett’s former political consulting firm, E Street Group, raising concerns about potential conflicts of interest. Mynett exited the political consulting business shortly after, pivoting to the winery and venture capital industries. Additionally, a 2020 complaint filed with the House Ethics Committee alleged that Omar failed to disclose income from her memoir, “This Is What America Looks Like,” which reportedly earned between $100,000 and $250,000. While Omar’s disclosure lists modest personal assets, including a congressional credit union savings account with $1,000 to $15,000 and a retirement fund with $15,001 to $50,000, her reported $100,000 in student loan and credit card debt underscores the complexity of her financial situation.
The revelation of Omar’s wealth has reignited debates about transparency and accountability in Congress. Critics argue that her earlier denials of millionaire status, coupled with the opaque nature of her husband’s business dealings, undermine her public image as a champion of the working class. Supporters, however, contend that the wealth belongs primarily to Mynett and that Omar’s personal finances remain modest. As the public grapples with these conflicting narratives, the story of Omar’s meteoric rise to wealth continues to captivate and divide, casting a spotlight on the intersection of politics, business, and personal gain.
