Gary Peters who recently contested his Senate seat against Republican nominee John James has won the election for a second term for his Senate seat of Michigan.
In what was a very close senate race between Peters and James, the 61-year-old Michigan Senator held on to his Senate seat. Peters had consistently led in the polls, though by a narrow margin. Senator Peters also has an impeccable record of being an effective legislator but isn’t as popular as the rest of the statewide politicians.
James and Peters engaged in a brutal campaign leaving no opportunity to bruise each other. James was one of the few candidates through whom the Republican hoped for some redemption.
But with about 99% of the votes already counted, Gary Peters has taken a lead over his Republican Party challenger John James by a total of 88,409 votes.
Gary Peters Net Worth is around $6 Million
Senator Peters has a House salary of $174,000 but also collects dividends and interest from a bunch of investments taking his estimated net worth to be somewhere around $6 Million.
Gary Peters is definitely one of the wealthy senators. He is loaded with blue stock chips as well as tax-free bonds issued by local governments. Since members of Congress are not required to be specific about their income and assets as they are only required to give a range, it is difficult to get an exact figure.
Who is Senator Gary Peters?
Unlike most politicians, Gary Peters didn’t venture into politics from an early age. After getting a Master’s Degree in Business Management from the University of Detroit in 1984, Peters started out as a financial advisor for Merrill Lynch and later worked for Paine Webber as vice president.
Peters also enlisted himself in the United States Navy Reserve at the age of 34. During his reserve duty, Peter spent time overseas in the Persian Gulf. He went on another overseas tour after the 9/11 attacks. When he quit the reserve in 2008, Peters had attained the rank of Lieutenant Commander.
Peters also spent quite some time as an educator. He was a teacher of finance at Wayne State and taught strategic management and business policy at the Oakland University.
Two months after being hired by the Central Michigan University in 2007, Gary Peters announced his candidacy to run for Congress. Peters resigned from his position of state lottery commissioner to devote all his time to his campaign.
He won the elections by taking 52% of the votes and added to Obama’s total of 15 points from Oakland County. This win made Peters the first Democrat to score a victory in the 9th district. He went on to retain his House of the representative seat in the 2010 and 2012 elections as well.
He finally decided to run for the Senate seat of Michigan in 2014.