What is Darrell Issa’s Net Worth?

Darrell Issa, an American businessman and politician, is worth $460 million dollars and has been the richest member of Congress. He founded Directed Electronics INC. which controlled 60% of the American car alarm market and invested wisely in San Diego real estate. Issa is currently the US representative for California’s 50th congressional district and previously represented districts in the San Diego area. He also chaired the House Oversight and Government Reform Committee.

Directed Electronics and the Viper Car Alarm

Darrell Issa was the CEO of Directed Electronics, a California-based manufacturer of branded automobile security and convenience products. DEI pioneered the concept of creating a loud noise when a car was disturbed and one of its signature anti-theft systems was called the Viper car alarm. Sales in the company’s first year topped $1 million and by the year 1999, when Darrell sold his stake in DEI to a Florida-based private equity firm called Trivest, sales were $60 million per year.

Darrell Issa’s Background

Darrell Issa was born on November 1, 1953 in Cleveland, Ohio as the second of six children of Martha and William. He is of Lebanese-American descent on his father’s side and of German and Czech ancestry on his mother’s side.

At 17, Issa dropped out of high school to enlist in the Army, where he became an EOD technician. He eventually earned a hardship discharge when his father had a heart attack; subsequently, he got his GED certificate.

Issa attended Siena Heights University in Adrian, Michigan, where he majored in business administration. He then went to Kent State University, where he enrolled in the ROTC. From 1976 to 1980, Issa served in the Army Reserve. After that, he served on active duty.

In 1972, Issa was arrested twice, first for stealing a Maserati and second for carrying a concealed weapon. He pleaded guilty to the latter charge and received six months’ probation and a fine. Shortly before his discharge from the Army, he was once again indicted for stealing a vehicle, although the case was dropped shortly after.

From Military to Entrepreneurship: Darrell Issa’s Business Ventures

After leaving the military, Darrell Issa and his wife borrowed $50,000 from family to invest in electronics manufacturer Quantum Enterprises. Issa took control of one of the company’s clients, Steal Stopper, and turned its fortunes around. The company began making car alarms for Ford and Toyota but suffered a setback when its factory and offices caught fire, destroying most of its inventory.

As car theft increased in the 80s, Steal Stopper regained its value and took on new clients such as BMW, General Motors, and Rolls Royce. In 1985, Issa sold the company to a home alarm manufacturer. He then went on to co-found Directed Electronics, which grew from $1 million in sales to $14 million in sales by 1989 and creates car security products like Viper car alarms and accessories.

Issa is also the CEO of Greene Properties, a real estate investment company with holdings in the North County of San Diego.

Darrell Issa’s Political Career

Issa, who was involved in consumer-electronics trade groups, became increasingly active in politics and contributed to Republican candidates in California. In 1996, he chaired a successful campaign to pass California Proposition 209. Two years later, he sought the Republican nomination for the US Senate against incumbent Democrat Barbara Boxer but lost to California State Treasurer Matt Fong.

Darrell Issa’s Political Career

In 2000, Darrell Issa won the general election for California’s 48th congressional district after finishing first in the primary. He was reelected in 2002 and 2004, and continued to win reelection in 2006, 2008, 2010, 2012, 2014, and 2016. In 2018, Issa announced he would not run for reelection. However, the next year he announced his run for California’s 50th congressional district and won the general election.

Controversies Surrounding Darrell Issa’s Oversight Committee

Darrell Issa, who became the chair of the House Committee on Oversight and Government Reform in 2010, faced criticism for his investigations into President Obama, WikiLeaks, and the Food and Drug Administration. The Watchdog Institute reported that Issa’s investigative team included members with connections to industries that could benefit from his investigations. Additionally, American Family Voices filed a complaint against Issa, accusing him of misusing his Oversight Committee authority to interfere in dealings with Merrill Lynch and Goldman Sachs.

In 2021, Issa and other Republicans were accused of enlisting others to vote for them while they attended CPAC. The Campaign for Accountability filed a complaint with the House Committee on Ethics in response.

Darrell Issa’s Political Positions

During his time in Congress, Darrell Issa voted with House Republicans 95% of the time. He endorsed Donald Trump in 2016 and voted in line with his positions 100% of the time. He voted to reject the certification of Pennsylvania’s electoral votes after the January 6th Capitol attack and voted against the impeachment of Trump and an independent commission investigating the attack.

Issa supported intervention in Yemen in 2015 and advocates for repealing the Affordable Care Act and defunding Planned Parenthood. He also opposes LGBTQ rights.

Marriage History of Darrell Issa

In the 70s, Issa married Marcia Enyart, his high-school sweetheart, but they later divorced. After his military discharge, he tied the knot with Kathy Stanton in 1980. They currently live in Vista, a suburb in San Diego, California.

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