June 29, 2022 - 6:00 am
While politicians in the U.S. tend to earn substantial salaries, it’s usually not indicative of their true wealth. In addition to those government paychecks, politicians tend to accrue substantial personal wealth through investments, real estate and proceeds from writing books, making public appearances and other means.
Here’s a look at what some of the most notable politicians in the U.S. are worth, as well as how they managed to earn it.
President Joe Biden: $9 million
After leaving the vice presidency in 2017, Biden’s wealth came in at $2.5 million. In the years since, it has grown to $9 million. The bulk of his wealth came from the sale of books, as well as speeches and other appearance fees. There’s also the income from his wife, First Lady Jill Biden, an educator who has written memoirs and children’s books.
Vice President Kamala Harris: $5 million
Vice President Kamala Harris began her political career when she was elected as district attorney of San Francisco in 2003. Her first significant earnings came from publishing three books, including a memoir, from 2009 through 2019. Following her marriage to attorney Doug Emhoff in 2014, the couple have assets worth about $5 million.
Nancy Pelosi: $120 million
Nancy Pelosi was elected as a member of the Democratic National Committee in 1976 and held on to that position for 20 years. She was first elected to Congress in 1987, and she first became speaker of the House in 2007, a role she currently holds. Like many politicians, much of her wealth has come from speaking fees and investments. Some is also attributed to her husband, former Congressman Paul Frank Pelosi, who’s also the founder of venture capital firm Financial Leasing Services.
Michael Bloomberg: $70 billion
The former mayor of New York City (2002-14) ran an unsuccessful bid to be the Democratic nominee for president in 2020. Back in 1981, he founded Bloomberg LP, a financial firm specializing in data, software, finance and media. His role as CEO of his namesake company brings his net worth to about $70 billion.
Donald Trump: $2 billion
The former real estate magnate flirted with politics off and on before he made a successful bid for president in 2016. In addition to his real estate holdings, he was host of the popular NBC reality show “The Apprentice,” which helped cement his celebrity status. He also received a substantial inheritance from his father, Fred Trump.
John Kerry: $250 million
Currently serving as the first U.S. special presidential envoy for climate, John Kerry also has been secretary of state and was a senator from 1985 through 2013. While he comes from a wealthy family, much of his $250 million net worth comes from his marriage to Teresa Heinz, who inherited much of the Heinz Ketchup fortune from a prior marriage, with trusts valued at somewhere between $750 million and $1 billion. The couple owns a property near Martha’s vineyard that’s reportedly worth around $12 million.
Mitt Romney: $300 million
Currently serving as a senator for Utah, Mitt Romney was governor of Massachusetts from 2003 to 2007. He mostly made his vast fortune by working for private equity firms, starting with the Boston Consulting Group back in 1975. After joining Bain & Company two years later, he started an offshoot company, Bain Capital, which allowed Romney’s wealth to grow over 25 years of managing leveraged buyouts.
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All net worths are sourced from Celebrity Net Worth unless otherwise stated.
This article originally appeared on GOBankingRates.com: How rich are President Joe Biden, VP Kamala Harris and the wealthiest US politicians?