(WASHINGTON) — The major party vice presidential nominees — Democrat Tim Walz and Republican JD Vance — sharply disagree on a range of issues. The differences in their personal finances are just as stark.
Minnesota Gov. Tim Walz, a former teacher and member of the U.S. House of Representatives, earns about $127,000 in salary per year, retains no stock holdings and relies on a pension account as his primary asset, financial disclosures show.
By contrast, Sen. JD Vance, R-Ohio, a former venture capitalist, brought in roughly $221,000 in 2022 from salary and book royalties, as well as hundreds of thousands in investment income, a U.S. Senate financial disclosure showed. He also held significant wealth in brokerage accounts and dozens of business investments, according to the financial disclosure.
Here’s what to know about the personal finances of Walz and Vance:
What are Tim Walz’s finances?
As governor, Walz earns an annual salary of $127,629.
In 2019, Walz reported a pension account worth as much as $100,000, as well as a life insurance plan with a value as high as $50,000, according to a financial disclosure that year.
Walz does not invest in any stocks, bonds or other securities, according to a U.S. House disclosure in 2019. As of January, Walz continued to forego ownership of any securities, a Minnesota financial form shows.
He does not invest in real estate, either. Walz and his wife, Gwen, appear to have sold their home in Mankato after gaining access to the governor’s mansion, the Minnesota form shows.
As of 2019, Gwen Walz earned income from a Minnesota public school and law firm Hogan Lovells, according to a U.S. House disclosure.
In all, the couple carried a net worth of between $112,000 and $330,000 in 2019, according to the disclosure. Tim Walz’s pension could add up to an additional $800,000 to the couple’s net worth, the Wall Street Journal estimated.
A disclosure filed in Minnesota in January offers little additional detail about Walz’s finances. Walz does not own a business, earn speaking fees or hold horse racing interests, the form said.
What are JD Vance’s personal finances?
Vance took in more than $1 million in 2022, according to a U.S. Senate financial disclosure form.
Those earnings included roughly $110,000 in salary at venture capital firm Narya Capital Management, as well as about $121,000 in royalty payments for sales of his book “Hillbilly Elegy.” Vance also made hundreds of thousands in investment income from holdings such as real estate rental fees and stock dividends.
Vance holds a host of assets, including brokerage accounts, cryptocurrency, real estate and investments in dozens of businesses.
In 2022, Vance valued his real estate holdings at between $500,000 and $1 million and declared possession of as much as $250,000 worth of bitcoin, the 2022 disclosure form said. A set of mutual and exchange-traded funds held by Vance was worth as much as $3.25 million combined, according to the disclosure form.
Vance’s wife, Usha Vance, earned more than $1,000 in salary from the Washington D.C.-based law firm Munger, Tolles & Olson in 2022, the disclosure form said.
In all, Vance and his wife boast a net worth of between $4 million and $10.4 million, excluding real estate, a Wall Street Journal analysis found.
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