Two businesses founded by Tim Mynett, spouse of Rep. Ilhan Omar (D-Minn.), have seen a dramatic surge in their value, reportedly increasing over 20 times within a year. This rapid growth raises questions regarding how they achieved such success, especially in light of rising fraud cases in Minnesota, where misappropriated government funds could surpass $9 billion.
Broad disclosures about Omar’s assets show that her husband’s company holdings have significantly increased since 2020. Specifically, Rose Lake Capital LLC, co-founded by Omar and Mynett, is valued between $5 million and $25 million in 2024. Just a year prior, that same company was worth only between $1 and $1,000.
While Congressional disclosures categorize asset values without providing exact figures, it appears that Rose Lake Capital’s valuation has skyrocketed thousands of times in just one year. The company’s website mentions it focuses on facilitating transactions, mergers, acquisitions, and various other services.
Noteworthy individuals, such as Adam Eller—who served as a lobbyist and former ambassador to Bahrain under Obama—once worked at the company. Additionally, former U.S. Senator Max Baucus and others were affiliated with it, as indicated by earlier versions of the site archived online.
Mynett co-founded the company in 2022, amid growing pressure on Omar due to the ongoing fraud scandal in Minnesota, with concerns about her possible connections to it. The names and bios of team members have since been removed from the website, leaving some ambiguity about their current ties.
Omar’s other business, ESTOCLE LLC, a winery based in Santa Rosa, California, reported a valuation increase from between $15,000 and $50,000 last year to a range of $1 million to $5 million this year. Despite its increasing reputation, the company’s wine purchasing portal remains unrated and shows little activity, with its last social media post dating back to January 2023.
Requests for comment regarding the companies’ rapid growth or the changes in their employee listings have gone unanswered by Omar’s office. The current status of their phone number listed online is also unclear.
As investigations into fraud continue to expand in Minnesota, the pressure on Omar seems to be mounting. The House Clerk has yet to release the 2025 financial disclosures, which could shed more light on these ongoing developments.
