A Forensic Analysis of the Net Worth of Lily Tang Williams

Table of Contents

I. Executive Summary: A Multi-Million Dollar Portfolio Built on Real Estate

Based on official financial disclosures filed during her congressional campaigns, the estimated net worth of Lily Tang Williams is between $3.8 million and $8.6 million.¹

This valuation positions her as a multi-millionaire, a status achieved through decades of entrepreneurship and strategic investment.

The primary driver of this wealth is a substantial and geographically diversified portfolio of rental properties, which forms the cornerstone of a family-run real estate investment and management company.

This financial standing is framed by a powerful personal narrative: Williams arrived in the United States from Communist China in 1988 with only $100 in her possession and $1,200 in debt to a sponsor.²

Her journey from these modest beginnings to her current financial status is a testament to the “American Dream” she frequently champions in her political career.

An analysis of her assets reveals a sophisticated financial structure comprising four main categories: Real Property, Securities (held in brokerage and retirement accounts), Digital & Alternative Assets, and Cash Equivalents.

It is critical to note that this analysis is based on the aggregation of value ranges provided in official U.S. House of Representatives Financial Disclosure Reports, cross-referenced with public real estate data and Federal Election Commission (FEC) records.⁴

Furthermore, a forensic examination of these disclosures reveals that her wealth is not a solo endeavor but a joint financial enterprise with her husband, John Williams.

The vast majority of significant assets, particularly the real estate portfolio and spousal retirement funds, are held either jointly (“JT”) or by her spouse (“SP”).⁴

Candidate disclosure rules mandate the reporting of these assets, meaning the top-line net worth figure reflects the couple’s combined wealth.

This reframes her financial story from that of a sole immigrant’s success to one of a successful family financial partnership, where her husband’s career and financial decisions are integral to the reported net worth.

II. The Cornerstone of Wealth: Deconstruction of the Tang-Williams Real Estate Empire

The foundation of Lily Tang Williams’s wealth is her primary business venture: a rental property investment and management company she co-founded with her husband in 2009.⁶

This enterprise operates a diversified portfolio of residential properties across several U.S. states, including New Hampshire, Nevada, Florida, Colorado, and Mississippi, demonstrating a clear strategy of geographic diversification.⁴

The timing of the company’s launch, immediately following the 2008 financial crisis, suggests an astute strategy of acquiring real estate assets at potentially depressed prices for long-term appreciation and rental income.

The following table provides a consolidated view of the real estate portfolio held by Lily Tang Williams and her husband, John Williams, as detailed in her most recent financial disclosure report.

It cross-references the disclosed value ranges with publicly available market estimates to provide a more comprehensive valuation.

Table 1: Consolidated Real Estate Portfolio of Lily Tang Williams and John Williams

Property Address/Description	Location	Ownership	Disclosed Asset Value Range	Estimated Market Value (2024-2025)	Disclosed Annual Rental Income Range
11390 Hilary Place	Parker, CO	Joint	$500,001 – $1,000,000	$776,357 – $829,900 ⁷	$15,001 – $50,000
58 Lane Road	Raymond, NH	Joint	$500,001 – $1,000,000	$621,500 – $676,612 ⁹	$15,001 – $50,000
6384 Covenant Crest Ct.	Las Vegas, NV	Joint	$500,001 – $1,000,000	N/A	$15,001 – $50,000
7820 Brookfield Cove Ave.	Las Vegas, NV	Joint	$500,001 – $1,000,000	N/A	$15,001 – $50,000
11226 Seabreeze Ave	Port Charlotte, FL	Joint	$250,001 – $500,000	N/A	$15,001 – $50,000
4899 Hungary Rd	North Port, FL	Joint	$250,001 – $500,000	N/A	$15,001 – $50,000
6574 Sugarcane Cir.	Ocean Springs, MS	Joint	$250,001 – $500,000	N/A	$5,001 – $15,000
S Corp: 3874 Malta St.	Denver, CO	S Corp	$250,001 – $500,000	N/A	$15,001 – $50,000
S Corp: 5371 SE 92nd St	Ocala, FL	S Corp	$250,001 – $500,000	N/A	$15,001 – $50,000
Grand Timber Lodge Timeshare	Breckenridge, CO	Joint	$15,001 – $50,000	N/A	$201 – $1,000
Other Timeshares (3)	Various	Joint	$1,001 – $15,000 (each)	N/A	None

Source: U.S. House Financial Disclosure Report (2025), Zillow, Redfin.⁴

Note: Market value estimates are not available for all properties from the provided sources.

Portfolio Analysis

The data reveals a calculated, long-term growth and income strategy.

The portfolio is not a collection of random properties but a strategically diversified business targeting specific demographic and economic trends.

The properties are located in the Sun Belt (Florida, Mississippi), the Mountain West (Colorado, Nevada), and New England (New Hampshire)—regions that have experienced significant population growth and housing demand over the past 15 years.⁴

This geographic foresight suggests a deliberate investment thesis focused on acquiring assets in growth markets and holding them for long-term appreciation and rental income.

This classic “buy-and-hold” real estate model appears to be executed with precision.

Based on the disclosed ranges, the total minimum value of this real estate portfolio is approximately $3.02 million, while the maximum value is $6.59 million.

This asset class alone accounts for the vast majority of her reported net worth.

Furthermore, the portfolio is a significant income-generating engine.

Summing the minimum disclosed rental income ranges indicates a gross annual revenue of at least $110,203, with a potential maximum of $366,000.⁴

This demonstrates that her wealth is not derived from speculative, high-risk ventures but from a patient, methodical, and proven business model in a traditional asset class.

III. Beyond Bricks and Mortar: Analysis of the Investment Portfolio

While real estate forms the stable foundation of the Tang-Williams financial house, their portfolio also shows significant diversification into traditional securities, retirement funds, and alternative assets.

An examination of these holdings reveals a sophisticated and deliberate risk-taking appetite that complements their conservative real estate strategy.

The structure of their securities portfolio suggests a classic “barbell” investment strategy: a large, stable base in income-producing real estate is counter-weighted by highly concentrated, high-risk/high-reward bets in technology and alternative assets.

The “safe” side (real estate) provides a financial floor, enabling more aggressive, speculative bets on the “risky” side.

A. Securities and Retirement Accounts

The primary vehicle for their securities investments is a 401k trust held by her spouse, identified as the “MKE 401K Trust” in disclosures.⁵

This account contains several substantial, high-conviction positions that represent a significant departure from typical diversified retirement planning.

Tesla, Inc. (TSLA): The trust holds a significant position in Tesla stock, valued between $250,001 and $500,000.⁴ This represents a large, concentrated bet on a single high-growth, high-volatility technology company.
Fidelity Wise Origin Bitcoin Fund (FBTC): A position valued between $100,001 and $250,000 is held in this spot Bitcoin exchange-traded fund (ETF).⁴ This indicates a substantial and relatively early adoption of cryptocurrency exposure within a traditional retirement vehicle.
Other Holdings: The trust also contains positions in companies like International Business Machines (IBM) and NuScale Power Corporation, alongside various ETFs, showing some level of diversification within the account.⁴

In addition to the spousal 401k, the couple holds personal and joint brokerage accounts with Schwab and Wells Fargo.

These accounts contain smaller, more conventionally diversified holdings in blue-chip stocks such as Apple Inc., Visa Inc., and Airbnb, Inc..⁴

This demonstrates a more traditional approach to personal investing outside of the concentrated bets held within the retirement fund.

B. Digital Currencies and Hard Assets

The Tang-Williams portfolio shows a clear affinity for assets that exist outside the traditional financial system, which aligns with a worldview that may be skeptical of centralized monetary policy.

Direct Cryptocurrency Holdings: Beyond the Bitcoin ETF in the 401k, they hold cryptocurrency directly. Their largest direct holding is Bitcoin, valued between $100,001 and $250,000. They also hold Ethereum ($15,001 – $50,000) and smaller amounts of Litecoin and Bitcoin Cash.⁴
Precious Metals: A significant allocation to “Precious Metals” is held within the MKE 401K Trust, valued between $100,001 and $250,000.⁴ This is a classic inflation hedge, often used to balance risk in a portfolio heavy with financial assets and serves as another pillar of their alternative investment strategy.

C. Cash Position and Liquid Assets

Across various bank accounts with institutions like First Bank and Service Credit Union, the couple’s disclosed cash and money market holdings are relatively modest compared to their total asset base, generally falling in the low- to mid-five figures.⁴

This suggests a financial strategy of being fully invested, with capital actively deployed in either real estate or securities rather than sitting idle in low-yield cash accounts.

IV. Entrepreneurial Footprint: Business Ventures and Income Streams

Lily Tang Williams has consistently and successfully monetized her unique life story and professional background, demonstrating a pattern of identifying a personal advantage and building a business or platform around it.

This entrepreneurial drive is a key factor in her journey from immigrant to multi-millionaire.

A. S Corporation and Business Properties

The financial disclosures reveal that at least two of their rental properties are held within an S Corporation: 3874 Malta St. in Denver, CO, and 5371 SE 92nd St in Ocala, FL.⁴

The use of an S Corporation is a common strategy for real estate investors.

It serves as a legal and financial vehicle that can offer liability protection, separating personal assets from business risks, and may provide certain tax advantages related to pass-through income.

This structural choice indicates a level of financial sophistication beyond that of a casual landlord, reinforcing the view that their real estate holdings are managed as a formal business enterprise.

B. Consulting History (ACM International Corp.)

Before her focus shifted primarily to real estate and politics, Williams established her entrepreneurial credentials with a consulting firm.

In 2000, after the telecommunications company she worked for went bankrupt, she founded ACM International Corp..⁶

This venture directly leveraged her unique background as a Chinese-born lawyer who had graduated from Fudan University in Shanghai.⁶

The firm specialized in advising American companies on how to conduct business in China and provided expert witness services in China-related legal cases.⁶

This business filled a specific market niche by capitalizing on her legal training and bicultural expertise.

While ACM International Corp. appears less central to her current financial status, it represents the foundational entrepreneurial step that likely provided the capital, experience, and business acumen necessary for her subsequent success in real estate.

Later, her public speaking career for organizations like the Victims of Communism Memorial Foundation further leveraged her personal story of escaping Mao’s China.⁶

While this may not be a primary income source, it has been instrumental in building her political brand, which is itself a valuable, albeit intangible, asset.

V. Financial Obligations and Known Liabilities

An accurate assessment of net worth requires subtracting liabilities from assets.

While her disclosures provide a detailed view of her assets, the picture of her liabilities is less complete, containing one clearly documented obligation and a significant unknown variable.

Analysis of Disclosed Liabilities

The most significant and clearly documented liability is an $80,000 loan made by Lily Tang Williams to her own congressional campaign committee.¹⁶

This is listed in FEC filings as “Debts/loans owed by committee” and “Loans made by candidate.” Unlike a donation, a candidate loan is a direct deployment of personal capital into a political venture.

While these loans can be repaid if the campaign raises sufficient funds, they often represent a potential loss if the campaign is unsuccessful.

This financial act serves a dual purpose: it provides essential liquidity to the campaign while also acting as a powerful piece of political signaling.

For a candidate whose narrative is built on financial independence, self-funding reinforces the message that she is not beholden to special interests, a key theme in her political rhetoric.¹⁷

It is a strategic investment in her own political brand, demonstrating a level of personal commitment and “skin in the game.”

The Missing Variable: Mortgages

A critical omission from the public record is information regarding mortgages on her numerous real estate properties.

Standard congressional financial disclosures do not require candidates to detail mortgage debt on personal residences or rental properties.

Therefore, the top-line net worth figure of $3.8 million to $8.6 million represents an estimation of her gross asset value, not a true net worth (Assets – Liabilities).

The actual net worth could be substantially lower depending on the total mortgage debt carried across her extensive real estate portfolio.

Without this information, any calculation of her precise net worth remains an estimate based on an incomplete financial picture.

This is the most significant caveat to any analysis of her wealth.

VI. Conclusion: A Financial Portrait of the American Dream

The financial profile of Lily Tang Williams is a multi-faceted story of entrepreneurial success, strategic investment, and the creation of a formidable family financial unit.

Her wealth, with a gross asset value estimated between $3.8 million and $8.6 million, is built upon three core pillars: a methodically constructed, geographically diversified real estate empire that generates substantial annual income; a sophisticated “barbell” investment strategy that combines the stability of tangible assets with high-risk, high-reward bets on technology and alternative currencies; and a consistent history of leveraging her unique personal narrative for entrepreneurial gain.

While the top-line valuation is impressive, a forensic analysis must emphasize the critical caveat of unknown mortgage liabilities.

The publicly available data provides a clear picture of her assets but an incomplete view of her debts, meaning her true net worth remains an estimate.

Ultimately, her financial journey is inextricably linked to her political ideology.

Her escape from a communist system in China, where she witnessed the insecurity of private property and the arbitrary power of the state, provides a powerful psychological underpinning for her subsequent focus on acquiring tangible real assets in the United States.¹³

Her success, achieved through the mechanisms of free-market capitalism she champions, directly informs her political platform advocating for limited government, economic freedom, and individual opportunity.¹⁵

The financial analysis thus becomes a lens through which to understand the lived experience that shapes her public persona and political convictions.

The final portrait is of an individual whose life and finances are a testament to the “American Dream” she advocates for, built through a combination of hard work, strategic risk-taking, and the formation of a successful family enterprise.