Wealth of State Lawmakers Raises Questions

Many progressive and self-described socialist politicians in Albany are notably wealthy. For example, State Senator Liz Krueger, who advocates for policies like “rent control for the rich,” holds close to $24 million in investments, according to 2024 financial disclosures. Her wealth surpasses her $142,000 annual salary as a senator, a tenure she’s maintained since 2002.

Krueger’s background includes family ties to finance; her father, Harvey, was CEO of an investment bank that merged with Lehman Brothers, where he became vice chairman. She owns stocks and bonds, including nearly $8 million worth of Apple shares. Her financial holdings may be even greater when considering assets held in trusts by relatives, which are not disclosed.

Her spouse, Lacey Schwartz Delgado, is an Emmy-nominated filmmaker with several board memberships. Meanwhile, Delgado, often called “No Show Delgado” for missing many workdays as Deputy Governor, is rumored to be aiming for the governor’s office.

Other lawmakers also have considerable wealth. State Senator Jabari Brisport, a prominent socialist who has publicly criticized capitalism alongside figures like AOC, continues to earn from various sources. Assemblymember Phara Souffrant Forrest, who represents Brooklyn, balances her legislative duties with a side gig as a registered nurse, earning around $50,000 last year.

Disclosures reveal that other legislators own significant assets: for instance, the lieutenant governor holds about $1.1 million in bank accounts, and some, like Krueger, have sold investments such as cryptocurrency Ethereum, reallocating funds into environmentally-focused ETFs.

These financial disclosures suggest that many politicians advocating for progressive policies are themselves multimillionaires, prompting questions about the influence of wealth in shaping policy discussions.