Darrell Issa – The Second Richest Member Of Congress – Earned His $300 Million Fortune In The Most Annoying Way Possible

Darrell Issa is a ten-term Republican member of the U.S. House of Representatives. He currently represents California's 48th congressional district, which includes parts of Riverside and San Diego Counties, encompassing cities like Temecula, Fallbrook, Bonsall, and parts of Escondido. A Republican mainstay in a state that grows bluer by the year, Issa remains something of a political outlier. His continued success can be credited in part to the district's military presence, rural communities, and affluent conservative-leaning enclaves that tend to favor his fiscally conservative stance. After briefly retiring from Congress in 2019, Issa returned in 2020 and won the newly redrawn 48th district seat in 2022.

But to me, the most interesting thing about Darrell Issa has nothing to do with his voting record or political views. The most interesting thing about Darrell is that he is one of the richest politicians in America. As of this writing, his $300 million net worth makes him the second richest member of Congress.

So, how did Darell earn his $300 million fortune? Is he a former hedge fund boss? A tech investor? A healthcare tycoon? Nope. Darrell Issa earned his fortune in the weirdest and arguably most annoying way possible.

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An Extremely Annoying Fortune

"Aren't car alarms awesome?"… said no one – ever. Seriously. Why do we still allow car alarms to exist? No car theft in the last 20 years has been prevented by a car alarm. Today car alarms are nothing more than periodic annoyances that wake you up at 6 am because your neighbor pushed the wrong button in her Audi.

Well, guess what? Darrell Issa basically invented car alarms, AKA vehicle theft deterrent systems.

The company he founded in 1982, Directed Electronics Inc (DEI), pioneered the concept of creating a loud noise when a car was disturbed. One of Directed Electronics' signature anti-theft systems was called the Viper car alarm. With Viper, when someone got too close, a speaker built into the car would play the words "Protected by Viper. Stand back" or "Please step away from the car."

Fun fact: Darrell himself provided his own voice for the recording:

Don't think you can make money selling car alarms? Think again. Sales in the company's first year topped $1 million. In the company's fourth year, Directed Electronics had revenue of $14 million. By 1999, the year Darrell decided to sell DEI, sales were $60 million per year. At this time, 60% of all car alarms installed in the United States were produced by DEI.

In 1999, Darrell sold his stake in DEI to a Florida-based private equity firm called Trivest. The exact terms of the deal are not known, but note that Darrell entered politics the year after he sold his company.

Part of the reason he wanted to sell, other than the fact that he was probably offered an enormous amount of money, was the fact that he wanted to run for Senate. He spent $10 million of his own money in 1998 to be the Republican candidate against incumbent Democrat Barbara Boxer. He ended up losing in the primary to a candidate who had raised 1/10th of the money. And that candidate got knocked out cold by Boxer.

Darrell was finally successful in 2000 when he won the election to become Congressman for California's 48th district.

And because members of Congress are required to report their current estimated net worth, we know quite a bit about Darrell's current financial standing!

In his most recent wealth disclosure, Darrell estimated that his net worth was in the range of $300 million. Today, the vast majority of Issa's estimated $300+ million fortune is held in diversified investments, with roughly 95% of his wealth in income-generating assets like high-yield bond funds and managed accounts—some valued at over $50 million each. He also holds tens of millions in real estate, $37 million in government and municipal bonds, and over $30 million in cash and bank deposits. The rest—more than $130 million—is tied up in other investments like equities and private funds. Notably, Issa carries little to no debt, with no outstanding balances reported on his disclosed credit lines.

So the next time a car alarm wakes you up at 6 a.m., just remember—it's not just noise pollution. It's congressional portfolio padding.