I'd be very surprised if the Vance family is only worth $10 million.
The two candidates for vice president have little in common politically or financially.
Tim Walz doesn’t own a home or many investments outside of pensions and a college-savings plan, according to past financial disclosures and tax returns. Getting elected vice president as
Kamala Harris’s
Democratic running mate—a job that pays $235,000—would mean a more than 50% pay bump.
JD Vance, his
Republican rival for the No. 2 job, by contrast is a multimillionaire who owns several homes and invests in a range of assets including gold and crypto, according to his most recent financial disclosures.
The financial lives of the two candidates are both versions of the American dream and demonstrate different approaches to money and risk, said Megan Gorman, a tax lawyer and wealth manager who analyzed the personal finances of American presidents—though not vice presidents—for a new book. Though many candidates for national office have had rags-to-riches stories like Vance, few since Harry Truman have come into the spotlight with less wealth than Walz, she said.
“Walz represents the stable, middle-class version, which isn’t as sexy,” she said. “Though the path Vance took to wealth is not one that’s really repeatable for most Americans.”
Net worth
The
Minnesota governor has far less wealth than candidates on most recent presidential tickets. The former teacher and congressman’s assets are mostly limited to pensions, whole life insurance and college savings.
He and his wife, Gwen Walz, have a net worth between $112,003 to $330,000, as of his 2019 financial disclosure. The value of his federal pension benefit could add roughly $800,000 to their net worth, based on The Wall Street Journal’s analysis. The couple didn’t report any dividend or capital gains income on their 2022 tax return, the most recent one released to the public.
Vance holds stakes in more than 100 companies as
a former venture-capital investor, as well as over $100,000 worth of cryptocurrency, according to a 2022 disclosure he filed as a senator.
He earns royalties from his 2016 memoir, “Hillbilly Elegy,” about his rise from dirt-poor beginnings. He and
his wife, Usha Chilukuri Vance, have a net worth of around $4 million to $10.4 million, plus real estate, an analysis by the Journal found. Vance’s team declined to comment on his finances.
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