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Posted at 10:00 PM ET, 03/15/2011

Rep. Blake Farenthold: I’m not that rich

Rep. Blake Farenthold. (Todd Yates/AP)

Rep. Blake Farenthold wants you to know he’s not that rich! Last week, the Center for Responsive Politics reported that the first-term Texas Republican was one of the wealthiest freshman, worth an estimated $35.8 million. But Farenthold’s office released a statement on Tuesday saying that while he “has been blessed to be the beneficiary of the entrepreneurial spirit and hard work” of his family, his net worth was “grossly exaggerated.”

His reported wealth, based on financial disclosure forms filed last year when he was running for office, lists a number of businesses and trusts co-owned with family members; Farenthold says he personally owns only a portion of those assets. “I wish I were worth as much as the reports imply, I could use a new car!” he said in the statement.

Okay, we’ll bite: How rich is he? The statement doesn’t say, so we called his office. “He’s working with his accountant,” his spokeswoman told us. “It’s closer to $5 [million] to $7 million.” Still enough for a new car, congressman.

By  |  10:00 PM ET, 03/15/2011

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