Minnesota Democrat Representative Ilhan Omar's financial standing has recently come under scrutiny, with her congressional financial disclosures revealing a significant increase in her personal net worth, now estimated at approximately $30 million.
This substantial rise, as disclosed in May, marks a 3,500% increase in her net worth from 2023 to 2024. The growth is attributed to two business ventures: eSTCru LLC, a winery based in Santa Rosa, California, and Rose Lake Capital LLC, a venture capital firm located in Washington, D.C.
According to One America News, the winery's assets were valued between $1,000,000 and $5,000,000 in the latest disclosure, a stark contrast to the previous valuation of between $15,000 and $50,000. Similarly, Rose Lake Capital's assets saw a dramatic increase, valued between $5,000,000 and $25,000,000 in 2024, compared to less than $1,000 in 2023.
The firm boasts "deep global networks built from on-the-ground work in more than 80 countries working across business, politics, banking and diplomacy," offering clients expertise in various business areas, including legislative structuring.
Following the establishment of Rose Lake Capital by her husband, Tim Mynett, Omar initiated the U.S.-Africa Policy Working Group, leading a coalition of 20 congressional members focused on fostering partnerships with Africa. Omar and Mynett have been active participants at events organized by the EBII Group, which promotes international investments in Africa.
In 2023, Omar served as a keynote speaker at one such event, advocating for U.S. investment in Africa and urging Congress to allocate billions to African communities. Concurrently, Will Hailer, a former DNC adviser and CEO of Rose Lake, led a panel discussion on the challenges investors face in extracting funds from African nations.
Despite these developments, Omar, originally from Somalia, has refuted claims of her millionaire status. In response to a February accusation on X alleging her net worth exceeded $80 million, Omar retorted,
"[Hey] dummy, first of all I havent been in Congress for 8yrs and my net worth isnt $83 million dollars. I know your brain has rotten from the conspiracy theories you are consuming daily but try not to announce your stupidity to the world." She further clarified her financial situation, stating she barely possessed "thousands, let alone millions."
Omar has consistently dismissed allegations of wealth, attributing them to a "coordinated right-wing disinformation campaign." She told Business Insider, "There has been a coordinated right-wing disinformation campaign claiming all sorts of wild things, including the ridiculous claim I am worth millions of dollars which is categorically false."
She emphasized her status as a "working mom with student loan debt," contrasting her financial reality with that of some congressional colleagues, and highlighting the challenges of maintaining residences in both Minneapolis and Washington, D.C., two of the nation's priciest housing markets.
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