EGN NEWS DESK
Minnesota Gov. Tim Walz is now firmly within the public eye after being named as Vice President Kamala Harris’ operating mate. A earlier highschool social research teacher, with roots in rural America, Walz is arguably among the many extra relatable candidates taking middle stage through the 2024 election.
During his speech at a Democrat rally in Philadelphia on Aug. 6, Walz contrasted his monetary background with that of the Republican presidential candidate. “Donald Trump’s not combating for you or your loved ones,” he instructed the gang. “He by no means sat at that kitchen desk just like the one I grew up at, questioning how we had been going to pay the payments.”
Walz made headlines when it lately got here again to mild that the previous six-term Congressman doesn’t put money into any shares, bonds, or different securities, in response to a U.S. House of Representatives disclosure in 2019. As of August 2024, Walz nonetheless doesn’t have any investments of this type, per Axios. This units him other than lots of his authorities counterparts says Kathleen Hall Jamieson, director of the Annenberg Public Policy Center on the University of Pennsylvania
“I’m not simply stunned by political data. But to see that he owns no inventory?” Jamieson instructed TIME. “I believe there are an entire lot of individuals on the market saying, ‘Hey, yeah, that is sort of who I’m. I’ve acquired somewhat pension, if I’m fortunate.’”
Walz’s restricted monetary portfolio additionally extends to his different property, which include his state and federal pensions as a former teacher and former Congressman, life insurance coverage and faculty financial savings, the House disclosure shared. The disclosure additionally confirmed that Walz’s spouse, Gwen Walz, earned revenue from a Minnesota public college and regulation agency Hogan Lovells.
Read More: Key Moments From Tim Walz’s DNC Speech
As a Governor, Walz earns about $127,000 in wage per 12 months. If Walz and Harris win the 2024 election, he’s poised to earn a wage of $235,100 as Vice President. According to the Minnesota Legislative Reference Library, Walz was provided a rise in his wage, however in August 2023 “the Compensation Council had obtained communication from the Governor’s workplace” that he declined the increase and his wage will stay the identical. Walz and his spouse additionally bought their house in 2019 for $304,000 after shifting into the Minnesota Governor’s Mansion, in response to the New York Times
According to the Wall Street Journal, using their 2023 tax returns, the couple had a complete revenue of about $299,000, with $135,000 of that coming from pensions or annuities.
But, theWall Street Journal additionally lately reported that Walz pulled $135,000 from his retirement financial savings to pay for his daughter Hope’s faculty training—one thing solely out there to the father-of-two via his collected pensions from the National Guard, Congress, and instructing. The publication reported that these pensions might add as much as an extra $800,000 to the couple’s web price, which was initially appraised as between $112,000 and $330,000 in 2019.
Forbes estimates that Walz’s web price as of 2024 stands at simply over $1 million—the least rich of all candidates on a serious party ticket this election cycle.
