The all-American working man demeanor of Tim Walz—Kamala Harris’s new running mate—looks like it’s not just an act.
Financial disclosures show Tim Walz barely has any assets to his name. No stocks, bonds, or even property to call his own. Together with his wife, Gwen, his net worth is $330,000, according to a report by the Wall Street Journal citing financial disclosures from 2019, the year after he became Minnesota governor.
With that kind of meager nest egg, he would be more or less in line with the median figure for Americans his age (he’s 60), and even poorer than the average. One in 15 Americans is a millionaire, a recent UBS wealth report discovered.
Meanwhile, the gross annual income of Walz and his wife, Gwen, amounted to $166,719 before tax in 2022, according to their joint return filed that same year. Walz is even entitled to earn more than the $127,629 salary he receives as state governor, but he has elected not to receive the roughly $22,000 difference.
“Walz represents the stable middle class,” tax lawyer Megan Gorman, who authored a book on the personal finances of U.S. presidents, told the paper.
Million dollars is nothing much today. One can’t even retire with that kind of money. Housing/tuition/health care costs have outpaced earnings.
If that report is true Walz will have to work until he dies. That’s dumb. Bernie on the other hand is smart and has made money inspire of his very poor upbringing.
Or, he just has to retire to a LCOL state. Like Minnesota…
Please don’t call people dumb for having less than $1m.
If someone is earning 100k+ and doesn’t have to pay for housing, food, medical bills, and transportation (like the governor)but still can’t save. Yes that is dumb.
I don’t know, maybe he had a lot of debt from when he was a teacher, maybe he gives money to charity. I just don’t think it’s ok to call people dumb for not being millionaires.