1. What is Mike Madigan’s Net Worth?
Mike Madigan is an American businessman and politician who has a net worth of $6.8 million. He is best known for serving as the Speaker of the Illinois House of Representatives from 1983 to 1995, 1997 to 1998, 2003 to 2013, and 2017 to 2021. Madigan was first elected as a state representative in 1971 and has been re-elected every two years since then.
Madigan’s net worth comes from his investments in real estate and other businesses, as well as his salary as Speaker of the Illinois House of Representatives. He also receives retirement benefits from his time spent in public service.
In addition to his political career, Madigan is a successful real estate investor and owns several commercial properties throughout Illinois. He also owns a law firm that specializes in personal injury cases.
2. Mike Madigan Early Life
Madigan was born on April 19, 1942 in Chicago, Illinois. He graduated from De La Salle Institute in 1960 and received his Bachelor of Science degree from Loyola University Chicago in 1964. After graduating from college, he worked as a part-time accountant at the Cook County Clerk’s office until he became an attorney in 1972.
He was elected to the Illinois House of Representatives for the first time in 1971 and served for four terms before becoming Speaker of the House in 1983. During this time he helped pass legislation that improved public education funding, increased access to healthcare services for low-income families, and expanded rights for workers.
3. Mike Madigan Career
Madigan has held various leadership positions throughout his political career including Chair of the Democratic Party of Illinois (1985-1988), National Committeeman (1988-present), Chairman of the Democratic Majority (1989-1995), Majority Leader (1995-1997), Minority Leader (1997-2003), Chairman of the Democratic Party (1998-2009) and Speaker Pro Tempore (2009-2013).
Throughout his tenure as Speaker he has focused on initiatives such as improving public education funding, expanding health care access for low income families, protecting workers’ rights, increasing infrastructure investments and promoting economic development across Illinois communities. Additionally, he has been instrumental in passing landmark legislation that includes pension reform that saved taxpayers billions of dollars over time and criminal justice reform that reduced prison populations while creating new opportunities for those with criminal records looking to reenter society successfully after completing their sentences.
In 2021 Madigan announced he would not seek reelection but would continue to serve out his term until January 2022 when his successor will be chosen by members of the General Assembly during their annual session beginning on January 12th 2022.