Minnesota Governor Tim Walz, a Democrat who is also the running mate of Vice President Kamala Harris, has a unique financial profile compared to many other politicians. According to his most recent financial disclosure, Governor Walz does not own any stocks, bonds, or real estate. His salary as governor of Minnesota is $127,629, and despite being eligible for a raise to $149,550 last year, he chose not to accept it. If elected as vice president, Governor Walz would earn an annual salary of $284,600 based on 2024 rates.
Governor Walz’s financial situation stands in stark contrast to that of President Donald Trump, who is a billionaire, and Senator JD Vance of Ohio, whose net worth is estimated to be between $3 million and $10 million. Vice President Harris, on the other hand, has investments personally owned worth between $800,000 and $1.75 million, along with personal cash holdings of between $550,000 and $1.1 million. Her husband, Doug Emhoff, also has investments worth at least $1 million.
After being elected governor in 2019, Governor Walz and his wife sold their home in Mankato, Minnesota, and moved into the governor’s mansion. They listed the four-bedroom house for $315,000, after purchasing it in 1997 for $145,000. Governor Walz’s financial disclosures as governor do not provide details about the value of any cash kept in bank accounts. However, his past financial history as a member of the U.S. House of Representatives reveals some interesting details.
During his time in the U.S. House of Representatives, Governor Walz’s financial disclosures showed that he did not own any stocks as of early this year. In early 2009, he sold investments valued between $1,001 and $15,000 in two Roth individual retirement accounts, as well as similar sales in two Roth IRAs owned by his wife. Governor Walz also listed assets such as Education Minnesota pension plans, whole life insurance policies, and a 529 education plan for his children.
Governor Walz’s House disclosure documents also revealed the value of a rental room in their house, which generated rental income for the couple. The disclosures indicated that Governor Walz made regular payments into whole life insurance policies until at least 2013, but those payments later ceased. Additionally, the lack of specific sums in federal disclosure reports means that some financial details are estimated within certain ranges, rather than exact amounts.
Although there has been no immediate comment from Governor Walz or his campaign regarding his financial disclosures, it is expected that a new report will be filed as a federal candidate in the coming days. This new report will provide more up-to-date information about Governor Walz’s financial holdings and investments. Despite his modest financial profile, Governor Walz’s transparency in disclosing his financial information is commendable in an era where political candidates are often scrutinized for their wealth and investments.
Leave a Reply