Ilhan Omar's Husband's Firm Valued at $25M Despite Reporting Zero Income—How Is This Possible?

How does a congresswoman on a $175,000 salary suddenly report a combined fortune that has rocketed by as much as 3,500 per cent? That is the question swirling around Squad star Ilhan Omar, whose latest financial disclosures are raising eyebrows in Washington.

The Somali-born politician, 43, who reported a negative net worth from student and car debt upon her election in 2018, has now filed a 2024 financial disclosure form showing a combined fortune with her husband, Tim Mynett, that has astonished critics.

The numbers are staggering. Just months after branding claims of her 'secret millionaire status' as 'ridiculous' and the product of a 'coordinated right-wing disinformation campaign' in February, the new filings detail a massive windfall attributed to Mynett's businesses.

Ilhan Omar's $25M Firm That Reported Zero Income

The core of the new valuation lies in two businesses owned by Mynett, a political consultant turned venture capitalist. In her 2024 disclosure, Omar valued Mynett's money-management firm, Rose Lake Capital LLC, at between $5 million and $25 million.

This represents a shocking leap from her 2023 filing, which valued the same firm at less than $1,000.

Adding to the confusion, the firm, which Mynett co-founded in 2022, claims to manage $60 billion, according to sources. Yet, in the same disclosure, Omar reported that Rose Lake Capital earned NO income at all last year.

The questions don't stop there. The controversial congresswoman also re-valued Mynett's Santa Rosa, California-based winery, eStCru LLC, at between $1 million and $5 million. This is a significant jump from 2023, when she stated it was worth a paltry $50,000.

A History of Financial Scrutiny for Ilhan Omar

This winery was previously the focus of an investor lawsuit. The suit alleged that Mynett and his business partner, Will Hailer, 'fraudulently misrepresented' it as a 'legitimate business.' The suit was reportedly settled last year after the winery paid an undisclosed sum.

Omar, whose family fled Somalia's civil war in 1991 and spent four years in a Kenyan refugee camp, has become a lightning rod for controversy as a member of the Congressional Progressive Caucus.

Her political career has been dogged by financial questions. In 2019, she agreed to reimburse her former campaign $3,469 and pay a fine for using campaign funds to pay for personal travel and help on her tax returns.

That same year, she faced accusations of paying Mynett's old political consultancy, E Street Group, nearly $3 million during the 2020 election cycle, just before she and Tim wed.

Her outspoken political statements have also drawn heavy fire, particularly her comment that America's support for Israel was 'all about the Benjamins.' This remark led to a successful movement to have her removed from the House Foreign Affairs Committee.

As one Beltway source commented on her latest financial form, 'She has a lot of explaining to do. The numbers just don't make sense!'

IBTimes UK has reached out to Ilhan Omar and Tim Mynett's reps for comments.