Tim Walz’s path to the Democratic vice president nominee has been a winding route. Walz began his career serving in the National Guard and working as a public school teacher in Nebraska and Minnesota. He was elected to the House of Representatives in 2006 and was re-elected for another five terms, before he decided to run for Governor of Minnesota. He was elected in 2018 and re-elected in 2022. Because he’s been in public service for over twenty years, much of his financial information is readily available. Here, take a deeper look at Tim Walz’s net worth:
His total income in 2023 was around $300,000.
According to the Wall Street Journal, per their 2023 tax returns, Tim and Gwen Walz had a total income of about $299,000, with $135,000 of that coming from pensions or annuities.
As governor of Minnesota, Walz earns $127,629 as his annual salary. His salary could’ve increased this year, but he declined. Per the Minnesota Legislative Reference Library, “As of August of 2023, the Compensation Council had received communication from the Governor’s office that he will not be increasing his salary. While the official salary has increased, the amount Governor Walz is receiving will not change and will remain at $127,629.”
“Tim Walz has dedicated his life to serving our country and his community—in the Army National Guard, in the classroom, and in the halls of government,” Charles Lutvak, a spokesperson for the Harris-Walz campaign, said in a statement. “He and Gwen have worked hard to earn a living like so many families across the country.”
He owns no real estate.
In 2019, the Walzes sold their Minnesota home for $304,000, below the asking price, and live in a rental while the governor’s mansion is under renovation.
Walz’s only assets are his pension plans.
According to Walz’s financial disclosure for the state of Minneosta, last updated January 2024, he has no securities. Per his 2019 congressional financial disclosure, he has state and teacher pension plans, a 529 college plan for his kids, and a whole life insurance policy.
You Might Also Like