WASHINGTON - The "Millionaire's Club," otherwise known as the U.S. Senate, has one member from Minnesota and none from North Dakota.
Sen. Mark Dayton, D-Minn., estimates his net worth at between $5 million and $20 million while Sen. Norm Coleman, R-Minn., lists only an IRA valued at around $500,000 on his financial disclosure form. That makes Dayton anywhere from 10 to 40 times wealthier than Coleman.
Senate disclosure forms were released Tuesday; House reports will be released today. The reports require lawmakers to report their assets only in broad ranges.
Sen. Kent Conrad, D-N.D., reported a Washington, D.C., home valued between $500,001 and $1 million, a Bismarck apartment building valued between $250,001 and $500,000 and a North Dakota state employee retirement account valued between $50,001 and $100,000.
Sen. Byron Dorgan, D-N.D., listed under major assets a retirement account valued between $114,009 and $360,000 and a 50 percent share in two Bismarck apartment buildings, one worth $230,000 and the other $215,000.
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Under honoraria, both Conrad and Dorgan listed none, donating all to charity.
Senators earn $158,100 a year. While Dayton was donating his salary to fund Minnesota Senior Federation drug-buying trips to Canada last year, Coleman was liquidating a municipal retirement fund to pay for his son's college tuition.
Coleman, a former St. Paul mayor, reported selling his St. Paul retirement fund for between $15,000 and $50,000. According to Coleman's spokesman, Tom Steward, Coleman used that money to help pay for his son's college tuition at the University of St. Thomas.
Coleman also listed debt of between $10,000 and $15,000 on his American Express revolving charge account.
Dayton, who spent $12 million to fund his 2000 Senate race, originally planned to raise money for next year's race, saying he couldn't afford to self-fund again. But with the fundraising sputtering, he decided earlier this year not to seek re-election.
Dayton, a millionaire department store heir, lists hundreds of individual stocks and funds in his disclosure form. He provided an estimate of his total wealth at the request of The Associated Press.
Coleman, meanwhile, listed under the gifts section travel on a private plane paid for by Nasser Kazeminy, a reclusive businessman and generous Coleman financial backer.
