Minnesota Representative Ilhan Omar attributed inaccuracies in her financial disclosures to accounting “discrepancies,” clarifying that she is not, in fact, a billionaire.
The member of the progressive “Squad,” who is now facing calls for a fraud investigation from President Trump, argued that the figures initially reported in her financial disclosures from last May were mistaken. Her revised filings indicate that she and her husband hold assets totaling up to $95,000.
Her spokeswoman, Jacquelyn Rogers, stated, “The amended disclosure confirms what we have said all along: the Congressman is not a billionaire.”
Omar voluntarily updated the disclosure as soon as these discrepancies were noted.
The original documents hinted at a dramatic surge in income, suggesting that Omar and her husband, Tim Mynett, possessed assets worth between $6 million and $30 million—a staggering 3,500% rise in net worth from 2023 to 2024.
The inflated estimates arose from two of Mynett’s businesses: a winery located in Santa Rosa, California, and a venture capital firm based in Washington, D.C.
The winery’s assets were estimated at $1 million to $5 million, while the DC firm, Rose Lake Capital, had assets appraised between $5 million and $25 million by the end of 2024.
In comparison, the earlier valuations had pegged the winery, eStCru LLC, at just $15,000 to $50,000, and the venture capital firm reported asset values of less than $1,000 in 2023.
Amended tax returns examined by the Journal suggest the couple’s assets actually fall between $18,004 and $95,000.
Omar’s team claimed they reviewed the filing beforehand, though they didn’t mention any notable errors. The newspaper observed that the significant oversight likely occurred because Paul, 43, isn’t connected to her husband’s business endeavors.
According to her lawyer, the miscalculations stemmed from their reliance on accountants.
“It’s quite common for busy individuals, including members and their spouses, to depend on professionals like accountants to handle figures in public documents,” the lawyer wrote in a letter to the Parliamentary Conduct Office.
“While this error is unfortunate, it doesn’t involve anything improper or illegal.”
