Rep. Ilhan Omar’s disclosed net worth rises to as much as $30 million after surge in husband’s business assets

Rep. Ilhan Omar reported a net worth of up to $30 million in a federal financial disclosure filed in May, a sharp increase the document attributes to a surge in the value of assets held by businesses owned by her husband.

The disclosure shows an approximately 3,500% increase in reported net worth compared with her prior filing, driven largely by the growth in two businesses linked to Tim Mynett: a Santa Rosa, California, winery and a Washington, D.C.-based venture capital firm. The new report comes months after Omar dismissed reports she was a millionaire as “ridiculous” and “categorically false.”

Omar’s filing lists the winery, eStCru LLC, with assets valued between $1,000,000 and $5,000,000. In her prior disclosure, the same winery was reported at a value between $15,000 and $50,000. The filing indicates a steep rise in the reported value of Rose Lake Capital LLC, the couple’s venture capital firm, which is cited by the lawmaker as a principal source of the increase in household wealth.

The spike in reported holdings was first highlighted in reporting by the Washington Free Beacon and summarized in other outlets. Omar and Mynett’s combined change in net worth reflects the revaluation of privately held assets rather than new public income reported on the disclosure.

Members of Congress must file annual financial disclosure reports that list sources of income, assets and liabilities. Those filings provide ranges rather than precise dollar amounts for privately held businesses and investments, a format that can produce wide potential net worth ranges when values change significantly from one filing cycle to the next.

Omar, a Minnesota Democrat and member of the group of progressive House members often called the “Squad,” has previously been a frequent target of political scrutiny over personal finances and business ties. The filing does not list realized sales that would provide definitive valuations; it reports asset ranges and origins of gains as required by the disclosure rules.

The newly disclosed valuation increases have drawn attention because they come after Omar publicly refuted suggestions she was a millionaire. In prior statements to the press, she called such claims “ridiculous” and “categorically false.” The May filing is the most recent public disclosure available and reflects asset values as reported on that document.

The filing attributes the household’s enhanced net worth to changes in the reported values of the winery and the venture capital firm, noting both as owned interests. It does not provide a line-item market appraisal; instead, the values are reported as ranges, consistent with the format of congressional financial disclosures.

The disclosure was filed during an election year and will be subject to review by ethics experts and political opponents, who often scrutinize members’ financial reports for potential conflicts of interest or undisclosed sources of income. Representatives’ offices customarily review and certify these filings when submitted to the Clerk of the House.

Requests for comment to Omar’s congressional office and to Mynett were not immediately addressed in the disclosures reviewed by reporters. The May filing will be available in the public record and could be examined further by the House Ethics Committee or other oversight entities if questions about valuations or reporting compliance arise.

The report adds to ongoing public scrutiny of members of Congress whose household assets include privately held companies, where valuation ranges can move sharply between filings. The filing’s release and the subsequent reporting mark the latest development in close attention to the finances of prominent lawmakers, particularly when reported asset values change dramatically from one disclosure period to the next.