Harris running mate Gov. Tim Walz owns no stocks, bonds or real estate, disclosure shows
S E E D E D C O N T E N T
Aug. 8, 2024, 11:16 AM UTC / Source: CNBCBy Dan Mangan, CNBC
Minnesota Gov. Tim Walz, the Democratic running mate of Vice President Kamala Harris, owns no stocks, bonds or real estate, according to his most recent financial disclosure.
Walz's salary as governor of Minnesota is $127,629. He was eligible for a raise last year to $149,550, but he chose not to accept it, according to the state.
If Walz is elected vice president in November, he would make an annual salary of $284,600, based on 2024 rates.
In 2019, after Walz was elected governor, he and his wife sold their Mankato, Minnesota, home and moved into the governor's mansion. They listed the four-bedroom house for $315,000, after buying it in 1997 for $145,000.
Walz's modest financial profile stands in stark contrast to that of Republican presidential nominee Donald Trump, who is a billionaire several times over, and to Trump's running mate, Sen. JD Vance of Ohio.
Forbes estimates Vance's net worth, based on publicly reported investments and cash, to be $3 million to $10 million.
Harris, the Democratic presidential nominee, listed securities investments personally owned worth $800,000 to $1.75 million, and personal cash holdings of $550,000 to $1.1 million. Federal disclosure reports typically require filers to disclose amounts within ranges, rather than specific sums.
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 disclosure as governor does not list the value of any cash kept in bank accounts.
A spokesman for the Harris-Walz campaign had no immediate comment about Walz's financial disclosures. But he noted that Walz is expected to file a new disclosure report as a federal candidate that will be released in the next 30 days. Walz's gubernatorial press office did not respond to a request for comment from CNBC.
The fact that Walz did not own any stocks as of early this year is consistent with much of the former high school teacher's tenure in the U.S. House of Representatives. He left the House in January 2019 after six terms to be sworn in as governor of Minnesota.
Walz's congressional financial disclosures show that in early 2009 he sold investments valued at $1,001 to $15,000 in two Roth individual retirement accounts. He and his wife, Gwen, also executed sales in the same value range in two Roth IRAs that she owned.
Those IRAs do not appear on later House disclosures by Walz, suggesting they were liquidated.
He did list one tax-deferred account, a 529 education plan containing $1,000 to $15,000, which would be for one or both of the couple's children.
Walz's House disclosure also listed as assets two Education Minnesota pension plans for him and his wife, who was a school system administrator and teacher. He also listed two whole life insurance policies valued at $15,000 to $50,000 apiece.
The disclosures show Walz making regular payments into the value of whole life insurance policies until at least 2013, but those payments later stopped.
Walz said in House disclosure filings that the value of a rental room in their house was $250,000 to $500,000 and that the couple derived rental income from it of $2,500 to $5,000.
Dan Mangan, CNBC
Dan Mangan is a reporter covering politics for CNBC.com.
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So, how do you work your entire life with a spouse who also works, Have a Job that pays over 165,000 a year for 12 years and live rent free for the last 5 while making 130,000 a year and own absolutely nothing?
It's telling (volumes) when a man with a wife and a daughter leaves monies on the table and walks away. . . evidently, all things being equal, money (and other financial resources) is not a driving force for the man. That said, I think he should allow his financial situation to rapidly "improve" for the sake of his legacy.
Maybe Gwen has a fur coat ...
Zero debt and lots of cash on hand.
Then his savings accounts would be listed in his disclosures. Unless you are saying he doesn't trust banks and keeps cash in his mattress?
All speculation. Why the rush to judge?
Don't forget his NG pension, probably $32K a year.
My Dad was a federal agent and my Mom taught school so they never saved very much while working. In retirement they both made more under public employee retirement formulas after 33 plus years of service than they did while working. This is typical for professional public servants. It is not unusual for service members teachers etc to work enough years in the private sector after they retire from government jobs to qualify for Social Security, private pensions and 401Ks in addition to their government retirement.
So you are making it seem even stranger that he owns literally nothing?
Unlike Jim Jordan, Walz bought jackets to go with his pants.
This is not unusual for honest public servants which is why teachers, police, firemen, soldiers and public employees depend on pensions...
Unless someone can evidence illegality connected to Walz' relative poverty, its nobody's business.
There are countless people who dont care all that much about money as long as they are comfortable, and 'comfortable' varies individual to individual.
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I don't have a problem with this, not a lawyer nor a crook, common man.
So you think it is normal for a family to make a 1/4 of a million dollars a year and own absolutely nothing?
It’s bizarre. That’s what you expect from an addict.
Ask him what he and his family are doing with their monies. . . or, produce evident of a crime. . . or just call it what it appears to be: Freedom. By the way, it's been vetted (recently).
I dont care if he's flushing his money down the toliet. Trump has made money through fraud ( Trump University, condo sales shenanigans, etc) , that is what should disturb everybody.
Unlike He Who Must Not Be Named and his unnamed followers...
Don't you know us spooks believe all the answers to the universe can be found at the bottom of the barrell and we dive in headfirst with scrappers in both hands?
Just look at the depths that some will go to criticize someone just because they are not of their political party.
Hopefully Trump and Vance will run with this crap. That should greatly endear them even more with the majority of the electorate.
If it is 'out there' in the GOP atmosphere . . .it will become a driven conspiracy theory in 3,. . . 2,. . .1 . . . Fox News: "Action!"
Closing the article to prevent future trolling and off subject comments.