Rep. Ilhan Omar's Financial Disclosure Draws Attention Over Business Valuations
Rep. Ilhan Omar's 2024 financial disclosure, submitted in May 2025, has garnered attention following significantly increased valuations reported for her husband Tim Mynett's businesses. Rose Lake Capital LLC was valued between $5 million and $25 million, and eStCru LLC (a winery) between $1 million and $5 million.
These figures mark a substantial increase from the previous year's valuations of $1 to $1,000 for Rose Lake Capital LLC and $15,000 to $50,000 for eStCru LLC.
Critics have suggested these valuations imply Omar possesses a net worth in the tens of millions of dollars. However, her other reported assets and liabilities indicate a personal net worth ranging from approximately -$40,000 to $115,000.
Disclosure Details
In a September TikTok video, Rep. Omar clarified that the listed valuations represent the total value of her husband's businesses, not his individual ownership stake as one of several partners.
House Ethics Committee guidance typically advises members to report the value of an ownership interest in a privately held partnership, or to estimate the partnership's net worth.
Mynett's ownership stake in Rose Lake Capital is reported to be less than one-third of the company. In 2024, Rose Lake Capital reported no income, a decrease from $15,000-$50,000 in 2023. Conversely, the winery (eStCru LLC) reported income of up to $50,000 for the same year.
Business Registration and Status
Rose Lake Capital LLC faces issues with its registrations. Its Washington, D.C. registration has been revoked, and its Delaware registration was canceled due to unpaid taxes amounting to $1,770. A company spokesperson attributed the D.C. lapse to an "administrative issue" and stated that no tax notices were received.
In June 2024, partner Will Hailer indicated that Rose Lake Capital was a "dormant entity" in the process of transitioning to Rose Lake Inc. Notably, Omar's 2024 disclosure does not mention Rose Lake Inc.
Rose Lake Inc.'s Delaware registration is listed as "forfeited" since May 2024 for lacking a registered agent and currently owes $403,000 in taxes. A spokesperson for the company affirmed that a registered agent had since been appointed and no communication regarding tax liabilities had been received.
Investigations and Oversight
The House Oversight Committee's Republican majority has initiated an investigation into "ethics concerns regarding Rep. Omar and her spouse."
Separately, a 2024 Justice Department investigation into Omar's finances reportedly stalled due to insufficient evidence.
Further updates on Omar and Mynett’s assets are anticipated in the annual financial disclosures for 2025, which are due by May 15, 2026, with possibilities for extensions.