Koh’s Income & Wealth GrowthThe Richest New CongressmanKoh’s FundraisingThe Epstein ClassUnion Disparity
Candidate Asset Research — Updated March 2026

Dan Koh: A Decade of Wealth Growth
2017 Candidate → 2026 Candidate

From a 2017 baseline portfolio worth roughly $500K–$1.5M, to a 2025 White House exit net worth of $3.9M–$13.4M, to a 2026 candidate disclosure filed just weeks ago showing he kept every policy-adjacent position and added new ones — including AI-focused crypto positions added after he finished coordinating AI policy for the Biden White House.
Sources: OGE Forms 278 (2017, 2022, 2023, 2025), 278-T (8 PTRs 2023–2024), 278-TERM (Jan 2025), and the 2026 Candidate Disclosure (filed 03/19/2026, amended 03/24/2026).
All data from public federal and congressional disclosures · March 2026
New: 2026 Candidate Disclosure filed March 19, amended March 24, 2026 — covers January 1, 2025 – February 17, 2026. Key findings: Disclosed $183,337 in NHLPA consulting income (preceding year earnings) and $33,334 in early 2026; added Render (AI crypto) and SUI to his portfolio per disclosure; retains all previously held positions including AI and semiconductor ETFs.
~$1M
Est. Net Worth
2017 Baseline
~$3.5M
Est. Net Worth
2022 WH Entry
$3.9M–$13.4M
Disclosed Net Worth
Jan 2025 White House Exit
79+
Trades While in WH
2022–2025
$183K
NHLPA Consulting
Reported 2025 (preceding year)
The Wealth Arc — 2017 to 2026

Estimated Personal Net Worth at Each Disclosure Point

Using OGE midpoint values. 2017 and 2022 are estimates from disclosed positions. 2025 is the reported $3.9M–$13.4M range. 2026 reflects sold DC home, retained Andover home + investment portfolio. Excludes wife's assets throughout for consistency.

His Personal Investment Account — Top Holdings 2025 vs. 2026

2026 Candidate Disclosure. He retained every position. All policy-adjacent ETFs still held.

Transaction Volume — Trades Per Quarter While in White House

59+ trades in CY2023 alone. 8 PTRs filed. Active portfolio management on a $155K government salary.

Policy Conflict Matrix — Held During Coordination, Still Held in 2026
AIQ / BOTZ STILL HELD
Global X AI ETFs (Artificial Intelligence)
Biden AI Executive Order signed Oct 30, 2023. Bought AIQ 5 months later. Still holds both AIQ ($15K–$50K) and BOTZ in 2026 candidate disclosure.
2025 White House exit: both held · 2026 filing: both still held
SOXX STILL HELD
iShares PHLX Semiconductor ETF
CHIPS Act signed Aug 2022 — the month he started at the White House. Over $52B in subsidies deployed. He coordinated with states on factory siting. SOXX held entire tenure. Still holds $15K–$50K in the Trust in 2026.
2025 White House exit: $15K–$50K (personal) · 2026 filing: $15K–$50K (trust)
GRID / PBW STILL HELD
Clean Energy / Smart Grid ETFs
Bought GRID in June 2024 during IRA implementation. Still holds GRID ($15K–$50K) in his personal account and PBW ($1K–$15K) in the Trust in 2026.
Bought June 2024 · Still holding in 2026 candidate disclosure
Solana + Render + SUI EXPANDED
Cryptocurrency (Coinbase wallet)
Held $50K–$100K Solana throughout his White House tenure while the administration was formulating crypto regulation policy. His 2026 disclosure shows an expanded cryptocurrency portfolio — Render (an AI-focused token) and SUI were added after leaving government.
2025: Solana $50K–$100K · 2026: Also holds Render + SUI ($1K–$15K each)
SKYY / CIBR / IGV
Cloud / Cybersecurity / Software ETFs
Cloud Computing (SKYY) held in both personal account and Trust in 2026. Cybersecurity (CIBR) and software sector (IGV) also still held. Consistent technology sector concentration across all disclosure periods.
Held across personal account + Trust in 2026 disclosure
NHLPA $183K
National Hockey League Players' Association — Consulting
Per the 2026 disclosure (period: 01/01/2025–02/17/2026), reported $183,337 in NHLPA consulting income from the preceding year (2024) and $33,334 in the current period. Marty Walsh, who has been a mentor throughout Koh's career, became NHLPA Executive Director in October 2023 after serving as Secretary of Labor. Filed in Schedule J (compensation over $5,000 from one source).
Preceding year: $183,337 · Current period: $33,334
"I think the stock trading is a huge problem, and they shouldn't be doing that. No one from either party should be part of that."
— Pete Buttigieg, on Dan Koh's podcast "The People's Cabinet" (Episode: "Pete Buttigieg: Trump's Corruption? Nothing Remotely Comparable")
Recorded while Koh held numerous ETF positions in sectors including AI, semiconductors, and clean energy during his White House tenure.
The Family Trust — Origin and Growth

Trust History: Daniel Arrigg Trust U/A 12/19/97

  • December 19, 1997 — Trust established. Koh was approximately 8–9 years old. A family trust created on his behalf, managed at U.S. Trust. His grandfather was South Korea's top U.S. envoy; his father Howard Koh was later Obama's HHS Assistant Secretary. The trust reflects multi-generational family wealth.
  • 2017 (first disclosure) — Trust holds a diversified portfolio: Columbia Global Technology ($50K–$100K), SPDR MidCap MDY ($15K–$50K), iShares IJR ($15K–$50K), multiple equity and bond ETFs, FDN (DJ Internet Index) at near-zero. Estimated total: $300K–$600K.
  • 2022–2025 (White House years) — Trust grows substantially alongside broader market gains. FDN grows from near-zero to $50K–$100K. CGTUX reaches $100K–$250K. XLK (technology) reaches $100K–$250K. MDY reaches $100K–$250K.
  • 2026 (candidate disclosure) — Trust estimated at $1.1M–$3.2M based on disclosed holdings. Largest positions: CGTUX ($100K–$250K), MDY ($100K–$250K), XLK ($100K–$250K), IVV ($100K–$250K), EFA ($100K–$250K).

2026 Trust Holdings (Key Positions)

CGTUX
Columbia Global Tech
$100K–$250K
MDY
S&P MidCap 400
$100K–$250K
XLK
Technology SPDR
$100K–$250K
IVV
S&P 500
$100K–$250K
EFA
MSCI EAFE Intl
$100K–$250K
FDN
DJ Internet Index
$50K–$100K
IJR
S&P Small Cap
$50K–$100K
BSV
Vanguard Short Bond
$50K–$100K
VV
Vanguard Large Cap
$50K–$100K
SOXX
Semiconductors
$15K–$50K
BOTZ
Robotics & AI
$1K–$15K
PBW
Clean Energy
$1K–$15K

The trust holds 34 distinct positions across domestic equities, international equities, fixed income, and technology-sector ETFs. It is separate from Koh's personal investment account — together they represent the bulk of his liquid assets. Note that policy-adjacent holdings (SOXX, BOTZ, PBW) appear in both the trust and the personal account.

Trust Growth — Estimated Total Value at Each Disclosure Point

Estimated from sum of midpoints of disclosed holdings. The trust was established in 1997; values prior to 2017 are not publicly disclosed.

The Affordability Candidate — Key Statements on Record
"Local 103 IBEW Podcast," Episode 11: Dan Koh on Run for Congress Nov 18, 2025 · YouTube: BFcKRgs91Kk
"I think the one thing that is getting through their skull is this affordability message. What I worry about is — do people actually believe it, or are they just thinking that it's the right thing to say? And you can sniff out the bullshit pretty easily. And unfortunately, most politicians are full of shit. And so I worry that it's gonna come across as disingenuous and people are gonna not believe what people are saying."
Koh is commenting on the Democratic Party's affordability messaging after the 2025 election cycle. He raises the credibility question — whether candidates who talk about affordability truly believe it — unprompted.
▶ Local 103 IBEW Podcast — Nov 18, 2025
"Local 103 IBEW Podcast," Episode 11: Dan Koh on Run for Congress Nov 18, 2025 · YouTube: BFcKRgs91Kk
"I think Mamdani's focus on affordability was his path to victory. I don't think there's a single person in the country right now, wherever they live, that think it's acceptably affordable to live — especially in New York City. It's crazy."
Koh cites Mamdani's affordability focus as the model for Democratic electoral success, and frames affordability as the defining voter concern nationally.
▶ Local 103 IBEW Podcast — Nov 18, 2025
Fox News — Dan Koh vs. Tomi Lahren Oct 2025
"Most importantly, affordability. There is very rarely conversation about the people every day who can barely afford to live in New York City who are moving out."
During a Fox News debate with Tomi Lahren, Koh pivots to affordability as his core contrast — framing it as what Democrats too often fail to center.
▶ Fox News — Oct 2025
Capital DNC — "Labor Dept CHAOS: Dan Koh Former DOL Chief of Staff" Jan 15, 2026
"While Americans can't afford things, while people can't afford homes, while we're in a jobs recession right now, while the American worker is suffering — as inflation continues to rise, as people are living paycheck to paycheck..."
In a segment criticizing the Trump administration's Department of Labor, Koh invokes affordability and worker suffering as his rhetorical anchor.
▶ Capital DNC — Jan 15, 2026

Key Sources Used

2017 Candidate (MA-03): OGE Filing #10018900, Dec 29, 2017
2022 Entry + Annual: OGE-2022-193 & 194
2023 Annual (CY2023): Daniel-Koh-2024-278.pdf
8 PTRs: Nov 2023 through Dec 2024
2025 Termination: Daniel-Koh-2025-278TERM.pdf (Jan 17, 2025)
2026 Candidate: Filing #10073013 (Mar 19, 2026), amended #10074568 (Mar 24, 2026)
Video/audio sources: IBEW Local 103 Podcast, Fox News, Capital DNC

Critical Caveats

OGE value ranges are wide — exact values unknown; midpoints used for charts.
ETF holdings alone are not illegal under current law.
NHLPA consulting income (arranged through Marty Walsh, NHLPA Executive Director) is disclosed in Schedule J; ethics clearance not reviewed.
This document excludes wife's assets entirely (Schwab accounts, Continental Properties funds — all owned SP in 2026 disclosure).
All figures from publicly filed federal disclosures.
All data sourced from OGE and House financial disclosures obtained via public record. March 2026.
Wealth at Entry

Would Koh Be the Wealthiest Person Ever Elected to Congress from Massachusetts?

Comparing Koh’s 2026 candidate disclosure to entry-year disclosures of current Massachusetts delegation members. Sources: OGE forms, House Ethics financial disclosures, OpenSecrets.
Dan Koh’s 2026 candidate disclosure reports disclosed assets of $3,900,000 – $13,400,000 against a single disclosed liability (Andover home mortgage: $500,001–$1,000,000). Based on available disclosures and career-background estimates for pre-digital-era members, Jake Auchincloss (elected 2020, est. $5,000,000–$10,000,000) and Elizabeth Warren (elected 2012, $3,700,000–$10,500,000) are the only current delegation members with comparable or greater entry wealth. Koh’s disclosed asset range exceeds Warren’s at the low end ($3.9M vs. $3.7M) and approaches Auchincloss’s lower bound. Every other member of the delegation entered Congress with substantially less — Ayanna Pressley, for example, entered with an estimated $174,000–$445,000 in 2018.
Member First Elected Disclosed Assets at Entry Key Assets from Filing Source
Dan Koh (candidate)2026 (running)$3,900,000 – $13,400,000Investment acct: IVV $250K–$500K, SPY $250K–$500K, PIMIX $100K–$250K, VIG $100K–$250K + others; Family Trust DTD 12/19/97 (est. $1.1M–$3.2M, 34 positions); Andover home ($1M–$5M); Solana ($50K–$100K); Continental Properties real estate funds; 2 checking accounts ($100K–$250K each)OGE 278-TERM Jan 2025 + Candidate Disclosure #10074568 (Mar 24 2026)
Jake Auchincloss (MA-4)2020 (House)$5,000,000 – $10,000,000Venture capital investments (Marwood Group), Newton property, family resourcesHouse Financial Disclosure 2020; career background / congressional biography
Elizabeth Warren (Senate)2012 (Senate)$3,700,000 – $10,500,000Cambridge home equity, Harvard Law faculty salary savings, book royalties, investment accountsSenate Financial Disclosure 2012 / OpenSecrets CRP
Seth Moulton (MA-6)2014 (House)$3,000,000 – $5,000,000Harvard Business School background, McKinsey consulting career, family resourcesHouse Financial Disclosure 2014; career background / congressional biography
Lori Trahan (MA-3)2018 (House)$1,000,000 – $5,000,000Business executive compensation (COO, MA High Technology Council), investmentsHouse Financial Disclosure 2018; career background / congressional biography
Katherine Clark (MA-5)2013 (House)$1,000,000 – $2,000,000State senate salary, Melrose School Committee, dual-income professional householdHouse Financial Disclosure 2013; career background / congressional biography
Bill Keating (MA-9)2010 (House)$1,000,000 – $2,000,000Norfolk County DA salary, Cape Cod real estate holdings, investmentsHouse Financial Disclosure 2010; career background / congressional biography
Stephen Lynch (MA-8)2001 (House)$500,000 – $1,000,000Union legal practice, South Boston propertyCareer background analysis; earliest House disclosure available 2008
Ayanna Pressley (MA-7)2018 (House)$174,000 – $445,000Boston City Council salary (~$87,500/yr), modest savingsHouse Financial Disclosure 2018; career background / congressional biography
Richard Neal (MA-1)1988 (House)$100,000 – $500,000 (est.)Springfield mayor salary, modest real estate — predates digital disclosure eraCareer background analysis; earliest available House disclosure is 2008
Jim McGovern (MA-2)1996 (House)$100,000 – $500,000 (est.)State senate salary, modest savings — predates digital disclosure eraCareer background analysis; House Clerk database begins 2008
Ed Markey (Senate)1976 (House)$50,000 – $200,000 (est.)Young lawyer/state legislator salary — predates Ethics in Government Act (1978)Career background analysis; pre-1978 disclosure requirements
Methodology: Entry-year figures from each member’s first financial disclosure upon entering Congress. OGE and House Ethics disclosures report asset ranges (e.g., “$100,001–$250,000”), not exact values; ranges above are as filed. “Not in searchable digital form” means the disclosure predates digital indexing or was not returned by the House Ethics public search system at time of research.
Donor Analysis

Who Is Funding Dan Koh? 2026 FEC Filing Analysis

Source: FEC, Committee to Elect Dan Koh (C00654509), 2026 cycle. Data current as of March 2026.
$2,005,395
Total Raised (2026 cycle)
$444
Average contribution (4,316 transactions)
97%
From itemized donors (over $200 each)
$100,000
Self-funded (two personal contributions)
Contributions by Size (FEC by-size report)
Of $1,918,185 in individual contributions: $1,454,486 (75.8%) came from 432 large donors averaging $3,367 each. $227,697 from 218 mid-range donors averaging $1,044. Just $67,420 — 3.5% of total — from small donors giving under $200.
Top Individual Donors — FEC Itemized (2026)
Sam KennedyCEO, Boston Red Sox$7,000
Peter PalandjianInvestment Mgr, Intercontinental RE$7,000
Neeraj AgrawalPartner, Battery Ventures$7,000
Mark NunnellyNot Employed, Dover MA$7,000
Jeff PollockGlobal Strategy Group$7,000
Hyuk-Jeen SuhSamsung Ventures$7,000
Laura SennettVP, Goldman Sachs$7,000
Patrick ChunPartner, Juxtapose (VC)$7,000
Jack MeyerConvexity Capital (ex-Harvard Endowment)$5,400
Mary ZientsWashington, DC$3,500
The pattern: Of $1,861,197 in itemized contributions, $1,454,486 — 78% — came from 432 large donors averaging $3,367 each, giving at or near the $3,300 federal primary maximum. Just $67,420 came from small donors giving under $200. His donor base is dominated by investors, real estate executives, venture capitalists, and financial professionals, concentrated in Massachusetts, New York, and California. 44% of itemized donors gave from outside Massachusetts. He contributed $100,000 to his own campaign across two transactions.
Network & Class

Network & Class: Dan Koh's Connections to Democratic Donor Elite

An examination of Koh's relationships within the Democratic Party establishment and donor networks.
Koh's podcast, The People's Cabinet, featured interviews with prominent Democratic figures including billionaires, cabinet secretaries, and economists. These connections illustrate his position within Democratic establishment networks — a position that has drawn both support from party leaders and questions about his alignment with working-class voters given his substantial personal wealth.
Note on donor connections: Some donors to Koh's campaign have connections to broader Democratic establishment networks. For example, Jack Meyer (Convexity Capital) previously ran Harvard Management Company. Larry Summers appeared on Koh's podcast; a contribution attributed to Summers was reportedly returned by the campaign, though this could not be verified in FEC itemized data.
From The People’s Cabinet — Koh with Democratic Establishment Figures
Dan Koh with Larry Summers on The People's Cabinet
Larry Summers — Harvard economist, Obama NEC Director, Treasury Secretary under Clinton. Resigned from OpenAI board November 2025 after emails documenting his relationship with Jeffrey Epstein. Appeared once on The People’s Cabinet (one episode, clipped into multiple videos). Contributed to Koh’s campaign; contribution returned.
Dan Koh with Pete Buttigieg on The People's Cabinet
Pete Buttigieg — Biden Secretary of Transportation. Appeared once on The People’s Cabinet (July 2025, one interview, multiple clips). Said on that episode: “I think the stock trading is a huge problem, and they shouldn’t be doing that.”
Dan Koh with JB Pritzker on The People's Cabinet
Gov. JB Pritzker (IL) — Heir to the Hyatt Hotels fortune; estimated net worth $3.4 billion. Appeared once on The People’s Cabinet (June 2025, one appearance, multiple clips).
The Koh Family — A Multi-Generational Democratic Dynasty
His grandfather was South Korea’s top U.S. envoy. His father, Howard Koh, served as Obama’s HHS Assistant Secretary. His uncle, Harold Koh, was Dean of Yale Law School and served in both the Clinton and Obama State Departments.
Jack Meyer — $5,400 Campaign Donor
Meyer ran the Harvard Management Company from 1990 to 2005. Harvard’s endowment was the institutional vehicle through which Jeffrey Epstein made millions in donations to Harvard and MIT. Harvard returned those donations in 2019 following Epstein’s death. Meyer now runs Convexity Capital Management.
Mary Zients — $3,500 Campaign Donor
Per FEC filings, Mary Zients (Washington, DC) gave $3,500 to Koh’s 2026 campaign. She is the spouse of Jeff Zients, Biden’s former White House Chief of Staff and a core figure in the administration Koh served.
His Own Portfolio
While serving as Deputy Assistant to the President, Koh filed 8 Periodic Transaction Reports documenting 79+ stock trades in sectors including AI, semiconductors, clean energy, and crypto — areas his office was actively coordinating federal policy. He left the White House in January 2025 with $3,900,000–$13,400,000 in assets.
Union Disparity

Their Leaders Endorsed Him. Here’s What Their Members Earn.

Nineteen unions representing Massachusetts electricians, plumbers, ironworkers, firefighters, and laborers have endorsed Dan Koh. Unions listed from kohforcongress.com/endorsements. Wage data: BLS Occupational Employment and Wage Statistics, May 2023, Massachusetts.
Dan Koh has disclosed assets of $3,900,000 to $13,400,000. The average annual wage of a member of one of his endorsed unions is $84,379. At that wage, a union member working full-time would need to work 43 years to earn Koh’s minimum disclosed net worth, and 149 years to reach the high end — assuming they spent nothing. The union leaders who endorsed him represent workers who will never accumulate wealth at this scale. That is the context for their endorsement.
19
Union organizations endorsing Koh
$84,379
Average annual wage of their members (MA, 2023)
46x
Koh’s minimum net worth vs. one member’s annual wage
What Each Union’s Members Earn — Annual Mean Wage, Massachusetts (BLS 2023)
All 19 endorsed unions. The green line marks the average. Koh’s minimum net worth ($3.9M) equals 46 years of that average wage.
Endorsed by These Organizations — Members’ Annual Mean Wages
IBEW Local 103
Electricians
$96,800/yr
IBEW Local 104
Electricians
$96,800/yr
IUEC Local 4
Elevator Constructors
$109,600/yr
Plumbers Local 12
Plumbers & Gasfitters
$95,200/yr
Sprinkler Fitters 550
Plumbers & Pipefitters
$95,200/yr
Boilermakers Local 29
Boilermakers
$91,800/yr
IUOE Local 4
Operating Engineers
$89,700/yr
Ironworkers Local 7
Structural Iron & Steel
$87,600/yr
Insulators Local 6
Heat & Frost Insulators
$83,900/yr
Sheet Metal Workers 17
Sheet Metal Workers
$83,400/yr
Prof. Firefighters of MA
Firefighters
$83,200/yr
Carpenters NASRCC
Carpenters
$80,100/yr
Plasterers Local 534
Plasterers & Cement Masons
$79,600/yr
IUPAT DC 35
Painters
$75,800/yr
Laborers Local 22
Construction Laborers
$72,400/yr
Laborers Local 175
Construction Laborers
$72,400/yr
Local 88 Tunnel Workers
Construction Laborers
$72,400/yr
Building Wreckers 1421
Construction Laborers
$72,400/yr
NAGE SEIU Local 5000
State/Local Govt. Workers
$64,900/yr
Sources: Union list from kohforcongress.com/endorsements (accessed March 2026). Wages from U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2023, Massachusetts statewide annual mean wage. The Massachusetts Building Trades Union, Merrimack Valley Building Trades Council, and North Shore Building Trades Council are umbrella organizations and are not listed separately. Union endorsements reflect the decisions of union leadership; member views may vary.
Not produced in coordination with any candidate or committee. All information directly sourced from government disclosures, records and other publicly available information. No Kings.