On comparing and calculating Haslam’s $2B net worth

Gov. Bill Haslam’s $2 billion estimated net worth is compared to the wealth of congressmen by The Tennessean — and a Forbes staffer explains how the governor’s wealth was calculated:

In comparison, the richest member of the U.S. Congress, California Republican Rep. Darrell Issa, is worth $357 million, according to the latest edition of Roll Call’s list of wealthiest members of Congress. Rep. Diane Black is Tennessee’s richest federal politician, worth about $21 million, according to Roll Call.

U.S. Sen. Bob Corker is worth an estimated $19 million and U.S. Sen. Lamar Alexander is worth about $5 million.

Haslam’s estimated worth far surpasses the combined wealth of all nine of Tennessee’s federal lawmakers.

Dan Alexander, who conducted the analysis for Forbes, said the estimate is based on a simple math calculation. Pilot Flying J is a private company, so Forbes compared the worth of similar large gas retail companies that are public. Alexander said they also knew the operating proft and the debt for the company.

Factoring in Haslam’s stake in the company — 15 percent — Alexander said Forbes arrived at $2 billion estimated worth. The recent increase is based on better proft margins from falling gas prices, and other gas retail companies are seeing similar spikes, Alexander said.

Note: Previous post HERE.