Tim Walz, Kamala Harris’ Running Mate, Has an Unusual Net Worth

$330,000

Tim Walz’s seemingly typical working-class persona may be more than meets the eye, and he has a net worth of $330,000. As Minnesota Governor and former teacher and football coach, Tim Walz boasts an unconventional financial profile that makes his appearance seem all the more genuine.

According to their 2019 financial disclosures, Gwen and Michael don’t own any stocks or bonds; most of their modest nest egg comes from teachers’ pensions.

Education

Walz was born in West Point, Nebraska – a town 3,500 northwest of Omaha in Nebraska – and attended Chadron State College to obtain a social science degree before earning his master of education degree from Minnesota State University, Mankato, in 2001. Following this, he taught high school classes in both Alliance Nebraska and Mankato Minnesota before establishing their gay-straight alliance – marking an early step in his activism on behalf of LGBT individuals and communities.

He spent one year teaching English to high school students in China through a government-sanctioned program, rising to command sergeant major before leaving the Army National Guard and becoming a high school teacher.

Gwen was also a teacher, so their finances did not include significant investments like stocks or bonds during his term in Congress. Their final filing as members in 2019 shows they sold their home and own only one rental property worth approximately $300,000. Their considerable assets include retirement savings accounts, education funds, and life insurance policies.

Walz differs significantly from some of his Democratic colleagues, such as former venture capitalist JD Vance, in that his net worth mainly relies on military and public service pensions he is entitled to receive as his source. Furthermore, his annual gubernatorial salary ranks 23rd nationally at just over $127,000 annually.

Military Service

Tim Walz has won voters and national attention with his unassuming, friendly demeanor and charming speech patterns, but looking at his finances reveals something surprising about this Minnesota governor: He and Gwen Walz (an educator), both registered public school teachers, do not appear to own any investments according to his financial disclosure report filed as a member of Congress in 2019. No stocks or bonds were reported owned; plus, after selling their home when moving into the governor’s mansion after becoming state leaders, they no longer possess personal real estate holdings either.

Walz’s exceptional wealth is not surprising when considering his long and distinguished public service career, which began with one of the greatest congressional upsets ever witnessed in a rural district that included the Mayo Clinic and Hormel meatpacking plant, capitalizing on voter anger against George W. Bush and Iraq war. Over his six terms in Congress, he championed progressive policies like ending military “Don’t Ask, Don’t Tell.”

Walz stands out from most members of Congress by not owning substantial business interests or real estate holdings; his assets come primarily from government pensions spanning his military service years as well as his current role as governor. Furthermore, as a former high school teacher, he can access both 401(k) retirement accounts as well as whole-life policies worth up to $1 million – as is true with other former teachers in California who hold such policies.

Politics

Walz earned an enviable congressional salary while building a robust network in Congress, but now, as Governor his public profile has significantly expanded his earning power and potential earnings potential. His approachable persona lends itself well to social media video posts depicting him and his daughter testing out Minnesota State Fair rides together – such as this recent post showing them both trying them out!

Walz epitomizes the American heartland. Born and raised in West Point, Nebraska, he graduated with a degree in social studies from Chadron State College before later receiving his master’s from Minnesota State University Mankato. Later, Walz spent 24 years as part of the Army National Guard, where he reached command sergeant major before retiring with the 1-125th Field Artillery Battalion in 2005.

As Minnesota’s first district representative, Walz was an outspoken proponent of full marriage equality and led the fight against President Donald Trump’s transgender troop ban. Additionally, he holds strong connections to rural Minnesota communities and veterans across his district.

He’s likely the poorest candidate on the Democratic ticket, with an estimated net worth under $1 million – quite different than his Republican opponent, JD Vance, a highly successful venture capitalist who amassed an immense personal fortune through business ventures at venture capital firms and through writing an award-winning memoir and Netflix movie about growing up in Southern Ohio’s Appalachian region.

Retirement

Tim Walz has established himself as an impressive politician through his authentic, warm demeanor. However, while this image may have won America over, his financial portfolio bears little resemblance with that perception – with Walz being by far one of the least wealthy candidates running on either major party ticket this election cycle.

Walz was raised in rural Nebraska by parents who instilled in him values such as public service, generosity towards neighbors, and working for the common good. After graduating from Chadron State College with a social science degree and spending one year teaching abroad before settling in Minnesota in 1996 to work as a high school teacher and football coach before winning election to represent Minnesota’s first district in 2006 as U.S. Representative – serving six terms before being officially installed as governor in January 2019.

Walz served in the 1-125th Field Artillery Battalion for 24 years, training heavy artillery and being deployed overseas but never experiencing combat. For his service, he received both the Army Commendation Medal and two Army Achievement Medals.

Walz and his wife Gwen stand apart from many politicians by not owning individual stocks or bonds, according to the financial disclosure he filed as a member of Congress early this year. Instead, the couple sold their Mankato home after Walz became governor and now reside in an apartment; their primary assets consist of rental property and life insurance policies.

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