Far from a millionaire, Ilhan Omar now claims a potentially negative net worth

Democratic Minnesota Rep. Ilhan Omar’s latest financial disclosures show dramatically lower reported asset values than an earlier filing that listed millions of dollars in businesses connected to her husband.

In a financial report meant to cover 2024, the Minnesota Democrat claimed that she and her husband controlled between $6 million and $30 million in assets, figures that raised eyebrows as conservatives honed in on allegations of fraud among Minneapolis’ Somali community. In a recently filed 2025 report reviewed by Fox News Digital, however, Omar revised the value of her and her spouse’s assets down to, at most, $125,000.

Taking the lower-end estimate of Omar’s assets as reported in the disclosure — just $20,000 — and comparing it against both the low and high estimates of her debt — $30,000 and $100,000, respectively — would leave the congresswoman with a negative net worth. Congressional financial disclosures report broad ranges, so the filings do not establish a precise net worth.

Her husband has between $15,000 and $50,000 of credit card debt while the congresswoman has a student loan balance also worth between $15,000 and $50,000.

ILHAN OMAR'S OFFICE SAYS SHE'S ‘NOT A MILLIONAIRE’ AFTER $30M FILING REVISED DOWN TO UNDER $100K: REPORT

"The amended disclosure confirms what we’ve said all along: the Congresswoman is not a millionaire," a spokeswoman for Omar 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 accounting error created a misleading picture of far greater wealth."

"The Congresswoman amended her disclosures voluntarily as soon as the discrepancy was identified. The amended disclosure is now complete and accurate," the spokeswoman added. 

OMAR FACES MOUNTING SCRUTINY AFTER FRAUD RINGLEADER SENTENCED TO 41 YEARS

As suggested by Omar’s staffer, the major changes made between the two filing years can be attributed to different valuations being given to companies linked to the congresswoman’s husband. 

A winery that Omar’s 2024 disclosure previously valued at between $1 million and $5 million was updated to have a value of "none" for both 2025 and in a revised 2024 disclosure she filed in March.

WINERY BELONGING TO ILHAN OMAR'S HUSBAND SHUT DOWN AMID FINANCIAL SPOTLIGHT

Her husband’s venture capital advisory firm, meanwhile, saw its value reduced to nothing in the two filings after previously being valued at between $5 million and $25 million.  

Omar and her senior staff have stated that her husband was one of many partners in the wine and advisory businesses, stating that previous disclosures reported the full values of the ventures rather than her husband’s individual share.

It is unclear, however, why her husband’s equity in these companies reportedly dropped to $0 between 2024 and 2025.

Tim Mynett, Omar’s husband, has over two decades of experience in D.C. Omar claimed that he made between $100,000 and $1 million through his venture capital advisory firm in 2024, though her 2025 disclosures suggest that his only income, between $200 and $1,000, came from a defunct winery.