Ilhan Omar's Financial Disclosures Reveal Dramatic Wealth Surge Amid Ongoing Minnesota Fraud Probes

WASHINGTON, D.C. — December 29, 2025 — Congressional financial disclosures filed by Rep. Ilhan Omar (D-Minn.) show a staggering increase in her family's assets, driven largely by businesses owned by her husband, Tim Mynett, as Minnesota grapples with allegations of up to $9 billion in fraud across federal aid programs.

Omar's latest disclosure, filed in May 2025, estimates the couple's net worth between $6 million and $30 million — a sharp rise from previous years when she reported a negative or near-zero net worth upon entering Congress in 2019. Much of this growth is attributed to Mynett's ventures, including Rose Lake Capital, a venture capital firm he co-founded in 2022.

According to the filings, Rose Lake Capital's value exploded from less than $1,000 in 2023 to between $5 million and $25 million in 2024. Mynett's other business, a California-based winery called eStCru, saw a similar leap, from $15,000–$50,000 to $1 million–$5 million. The firm has claimed to manage up to $60 billion in assets, though skeptics have questioned the rapid growth given its recent founding and limited public footprint.

Recent reports indicate that Rose Lake Capital quietly removed the names and biographies of nine officers and advisors from its website between September and October 2025. Among those previously listed were former Obama administration officials and diplomats, including ex-ambassador to China Max Baucus and former ambassador to Bahrain Adam Ereli. None have been accused of wrongdoing, and no explanation has been provided for the changes.

The timing has drawn scrutiny, coinciding with escalating federal investigations into massive fraud schemes in Minnesota, primarily involving pandemic-era child nutrition programs. Authorities estimate potential losses across multiple programs could reach $9 billion, with nearly 90 individuals charged so far, many from the state's Somali-American community. Critics have linked loosened oversight in these programs to the 2020 MEALS Act, legislation co-sponsored by Omar to expand meal access during COVID-19 by waiving certain requirements.

Omar has defended the bill, stating, "Absolutely not," when asked if she regrets it, emphasizing that "it did help feed kids." She has not been accused of any involvement in the fraud cases, though some charged individuals have ties to her campaigns or community events, and her campaign previously accepted and returned donations from convicted fraudsters.

Republican critics and conservative outlets have highlighted the contrast between the family's wealth surge and the fraud allegations, with some calling for greater transparency. Omar has previously dismissed claims of millionaire status as "ridiculous," and no charges have been filed against her or Mynett related to the disclosures or fraud probes.The developments come as the FBI has increased resources in Minnesota to address the schemes, described by officials as among the largest pandemic-related frauds in U.S. history. Omar, a prominent member of the progressive "Squad" and the first Somali-American in Congress, continues to face political pressure amid broader debates over immigration, aid oversight, and congressional ethics.