Minnesota Governor Tim Walz, running mate of Democratic presidential candidate Vice President Kamala Harris, speaks during a campaign rally in Eau Claire, Wisconsin, August 7, 2024.
Kamil Krzaczynski | AFP | Getty Images
governor of minnesota Tim Waltzthis Democratic running mate Vice President Kamala HarrisAccording to his most recent report, he does not own any stocks, bonds, or real estate financial disclosure.
Walz’s salary as Minnesota governor is $127,629. He was eligible for a raise last year to $149,550 but chose not to take it, according to the state.
If Walz is elected vice president in November, he will Annual salary $284,600based on 2024 rates.
In 2019, after Walz became governor, he and his wife sold their house in Mankato, Minnesota and moved into the governor’s mansion. They bought the four-bedroom house in 1997 for $145,000 and sold it for $315,000.
Walz’s modest financial situation and republican president Nominees Donald Trumpwho is a multi-billionaire and Trump’s running mate, Senator. JD Vance Ohio.
Based on publicly reported investments and cash, Forbes estimates Vance’s net worth at between $3 million and $10 million.
Democratic presidential candidate Harris lists personal securities investments worth between $800,000 and $1.75 million, and personal cash holdings between $550,000 and $1.1 million. Federal disclosure reports generally require filers to disclose a range of amounts, rather than a specific amount.
Her husband, Doug Emhoff, has investments worth at least $1 million and at least $250,000 in cash. Harris and Emhoff own a home in Brentwood, California, worth an estimated $5 million.
Walz’s financial disclosures as governor did not list the value of any cash held in bank accounts.
A spokesman for the Harris-Walz campaign had no immediate comment on Walz’s financial disclosures. But he noted that Walz is expected to file a new unmasking report as a federal candidate that will be released within the next 30 days. Walz’s governor’s press office did not respond to CNBC’s request for comment.
As of early this year, Walz did not own any stocks, a fact consistent with the former high school teacher serving most of his tenure in the U.S. House of Representatives. He left the House of Representatives in January 2019 after being sworn in for six terms as Minnesota’s governor.
Walz’s financial disclosures to Congress show that in early 2009, he sold investments worth $1,001 to $15,000 in two Roth IRAs. He and his wife, Gwen, also executed sales in the same value range on two Roth IRAs she owned.
Those IRAs did not appear in Walz’s later disclosures to the House, suggesting they had been liquidated.
He did list a tax-deferred account, a 529 education plan with $1,000 to $15,000 that would be used for one or both of the couple’s children.
Walz’s House disclosure also lists two Minnesota Education Pension Plans as assets for him and his wife, a school system administrator and teacher. He also listed two whole life insurance policies, each worth between $15,000 and $50,000.
The disclosure shows that Walz made regular payments of the value of the whole life insurance policy until at least 2013, but those payments later stopped.
Walz said in House disclosure documents that the value of the rental room in their home is between $250,000 and $500,000, and that the couple received between $2,500 and $5,000 in rental income.
