Is there something mysterious about an eightfold increase in Sen. McConnell's net worth to almost $24 million between 2005 and 2015?
By Olivera Perkins
Copy link
Copy featured image
NO
Senate Minority Leader Mitch McConnell did see a dramatic increase in his net worth some years ago. But there is no mystery -- his wealth shot up after the death in 2007 of his mother-in-law, a co-founder of a major shipper of freight to China. McConnell's wife, former Transportation Secretary Elaine Chao, is the eldest of the six daughters of James Si-Cheng Chao and Ruth Mulan Chu Chao, who built the company.
Forbes reviewed the will of Elaine Chao's late mother, which showed she left nearly $59 million in assets.
According to McConnell's office, a gift from Chao's father in memory of Chao's mother boosted McConnell's personal worth to more than $7 million.
This fact brief is responsive to conversations such as this one.
Sources
ABOUT THE CONTRIBUTOR
Lead Stories is a fact checking and debunking website at the intersection of big data and journalism that launched in 2015. It scouts for trending stories, images, videos and posts that contain false information in order to fact check them as quickly as possible. It actively monitors the fake-news ecosystem and doesn’t wait for reader tips or reports before getting started on a story.