The major party vice-presidential nominees, Democrat Tim Walz and Republican JD Vance, have differing views on policies and very different financial situations. Let’s examine their finances in more detail.
Tim Walz, the Democratic nominee and current Governor of Minnesota, has a background as a teacher and a former U.S. House Representative. His annual salary as governor is about $127,000. Walz keeps his investments simple—he holds no stocks, bonds, or other securities.
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According to a finance disclosure report published by ABC News, his primary financial asset is a pension account, which he reported was worth up to $100,000 in 2019. Additionally, he has a life insurance plan that could be valued as high as $50,000. Walz's financial disclosures show he hasn't invested in real estate. He and his wife, Gwen, appear to have sold their home in Mankato after moving into the governor's mansion.
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Gwen, for her part, earns income from a Minnesota public school and the law firm Hogan Lovells. In 2019, the couple's net worth was estimated to be between $112,000 and $330,000. This figure doesn't include Tim Walz's pension, which, according to estimates from the Wall Street Journal, could add another $800,000 to their net worth.
On the other side, JD Vance, the Republican nominee and U.S. Senator from Ohio, has a much different financial picture. A former venture capitalist and author, Vance pulled in over $1 million in 2022. His income included around $110,000 from his work at Narya Capital Management and $121,000 in royalties from his bestselling book, “Hillbilly Elegy.” But that’s not all—Vance also made hundreds of thousands in investment income thanks to his diverse portfolio, including real estate, stocks, and cryptocurrency.
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In terms of assets, Vance's 2022 financial disclosure shows that he holds real estate valued between $500,000 and $1 million and up to $250,000 worth of bitcoin. He also has a set of mutual and exchange-traded funds worth as much as $3.25 million combined. Vance's wife, Usha, is a Yale law graduate and civil litigation attorney. According to the New York Post, she clerked for Supreme Court Chief Justice John Roberts.
According to the Wall Street Journal, the Vance family’s net worth is estimated to be between $4 million and $10.4 million, not counting their real estate holdings. This starkly contrasts with Tim Walz and his wife’s more modest financial situation.
So, while Walz and Vance may clash on policy issues, their finances highlight just how different their worlds are.
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This article JD Vance Has Numerous Investments But Tim Walz Doesn't Own A Single Stock – Here's A Look At Their Dramatically Different Personal Finances originally appeared on Benzinga.com
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