Tim Walz's net worth below an American's, touted poorest VP candidate ever with stark contract to Vance
Tim Walz surprises with minimal assets and no investments, falling short of financial benchmarks for retirement. Contrasted with JD Vance's net worth.
Tim Walz, the Minnesota governor and vice presidential candidate, is notably the poorest among his peers, with a net worth falling below the average American’s reports The Fortune. Recent disclosures show that Walz has minimal assets, lacking stocks, bonds, or property.
One might think that investments could be held under his wife’s name, but that is not the case either. With this, many have come to terms with the fact that the ‘all-American working-man demeanour’ might not be just an act. The report also highlights a stark contrast in net worth compared to Trump’s VP pick, JD Vance
Tim Walz’s net worth
After securing the Democratic Party's nomination for president, Kamala Harris chose Tim Walz as her vice presidential running mate, a decision that has piqued the interest of many for various reasons. People have been looking closely at his ideas, his personal life, and his money matters. One of the most surprising revelations is that neither Walz nor his wife, Gwen, hold any investments.
Also read: JD Vance’s wife Usha Chilukuri finally breaks silence on whether he wears eyeliner: ‘Always been jealous…’
The Wall Street Journal said that Tim Walz and his wife, Gwen, are worth around $330,000, according to their 2019 tax info, right after Tim became Minnesota's governor the year before. In 2022, they made about $166,719 a year from their work before taxes, as they showed on their shared tax form for that year.
Walz’s net worth is below the average
It’s noted that the Walz couple does not hold any stocks, ETFs, mutual funds, cryptocurrencies, REITs, or personal real estate. Walz sold his house to move into the governor’s residence, meaning he currently owns no property, similar to one-third of Americans. With high housing prices and rising mortgage rates, achieving homeownership remains a distant goal for many.
Even if we consider the higher estimate of Walz's net worth—around $330,000—he still falls significantly short of the financial benchmark typically expected for someone nearing retirement age. With such a small savings, he'd be pretty much right in the middle for people his age in the US (60), and even worse off than the average person. According to Forbes, people in their 60s usually have a net worth of about $1.65 million, with half of them having a median net worth of $446,703.
Net worth of leading US 2024 election figures
Kamala Harris has a net worth of $8 million, largely thanks to her husband, who was a successful lawyer in California’s entertainment industry. Donald Trump’s net worth is estimated at $5.7 billion, according to Forbes, and he ranks 500th on the Bloomberg Billionaires Index. Meanwhile, Senator JD Vance of Ohio disclosed a net worth ranging between $4.3 million and $10.7 million in his latest Senate filing.
Mr. Walz dedicated 24 years to the Army National Guard and has earned recognition as the dark horse in the current election. Before joining the military, he worked as a high school teacher and coached football in Mankato, Minnesota. In his last financial report as a member of Congress in 2019, Walz shared that he had between $362,000 and $830,000 in assets. To put that in perspective, studies show that the average net worth of members of Congress and senators is around $1 million.