Rep. Ilhan Omar (D-MN) filed a revised congressional financial disclosure this year showing assets that have collapsed from as much as $30 million to at most $125,000, a staggering reversal that has drawn renewed scrutiny from Republican lawmakers and raised fresh questions about the accuracy of her earlier filings.
The 2025 disclosure, reviewed by Fox News Digital, shows Omar and her husband Tim Mynett holding assets valued between $20,000 and $125,000. A year earlier, the couple’s combined disclosure listed holdings of between $6 million and $30 million, a range that included millions tied to businesses connected to Mynett.
When measured at the low end, Omar’s assets could be outpaced by her debts. Her student loan balance is reported at between $15,000 and $50,000. Mynett carries between $15,000 and $50,000 in credit card debt. Congressional disclosures use ranges rather than exact figures, so a precise net worth cannot be calculated.
The reversal is driven almost entirely by changes in the reported values of two businesses linked to Mynett. A winery once valued at between $1 million and $5 million now carries a declared value of “none” across both the 2025 filing and a retroactively amended 2024 disclosure filed in March. A venture capital advisory firm that had been valued at between $5 million and $25 million has likewise been revised to $0. Mynett’s annual income, separately reported, has dropped to between $200 and $1,000.
An Omar spokeswoman defended the changes. “The amended disclosure confirms what we’ve said all along: the Congresswoman is not a millionaire,” she told Fox News Digital. “The original filing was based on incomplete information from Mr. Mynett’s businesses’ accountants in good faith and deference to professional judgement. It listed assets without liabilities, and it significantly overstated her husband’s net worth.”
“The Congresswoman amended her disclosures voluntarily as soon as the discrepancy was identified,” the spokeswoman added.
The office has previously said the original filings reported the full value of Mynett’s business partnerships rather than his individual equity share. What remains unclear is why those companies, which had carried multimillion-dollar valuations, now report zero value across the board.
The winery has been reported shut down. Mynett’s advisory firm has similarly gone dark.
Rep. James Comer (R-KY), Chairman of the House Oversight Committee, has publicly raised questions about whether the initial filings created felony-level exposure, citing the magnitude of the discrepancy and Omar’s proximity to a broader fraud investigation in the Minneapolis Somali community.
The investigation context matters. A ringleader in what federal prosecutors described as a massive COVID-relief and education-funding fraud scheme in Minnesota was sentenced to 41 years in prison. Omar has not been accused of wrongdoing in that case. But critics argue the combination of a multimillion-dollar financial misstatement and ties to a community rocked by large-scale public fraud warrants formal scrutiny.
The freshman-to-senior arc of Omar’s congressional career has been accompanied by a parallel arc of disclosure controversies. A filing covering her 2023 finances had already shown a sharp jump in reported wealth before the subsequent collapse in her 2025 report.
