Minnesota Governor Tim Walz, who was recently chosen as the running mate for Kamala Harris, has a background in public service that has significantly impacted his financial standing. As a former teacher and National Guardsman who has served multiple terms in Congress and as the governor of Minnesota since 2019, Walz has dedicated much of his life to serving the public. His net worth is estimated at just over $1 million, making him the least wealthy politician on a major party ticket this election cycle.
Despite his relatively modest net worth compared to other politicians, the composition of Walz’s wealth is unique. He and his wife, Gwen, do not own stock or bonds and have no home, having sold their residence in Mankato, Minnesota shortly after he became governor. Instead, the majority of their wealth comes from government pensions earned through their various careers in the public sector. Forbes estimates that the couple’s pensions, totaling around $1 million, make up the majority of their nest egg.
In contrast to Walz, his running mate Kamala Harris is worth a comfortable $8 million, partly due to her husband’s career as an entertainment lawyer. The Republican ticket, as well as the independent candidates in the race, have gained wealth from private sector ventures before entering politics. However, Walz has focused on serving the public throughout his career, highlighting his commitment to working-class values and experiences.
Born in 1964 in Nebraska, Walz has dedicated much of his life to public service and education. After serving in the National Guard and teaching, he ran for Congress in 2006 and later became the governor of Minnesota. Despite the financial sacrifices he has made for public service, Walz has continued to prioritize the needs of his constituents and has implemented progressive policies during his tenure as governor.
As a potential Vice President, Walz’s financial situation could improve significantly. The Vice President’s salary of $235,000 would be a substantial increase for Walz, potentially boosting the value of his federal pension even further. While he has stated that he has no presidential ambitions for when Harris’s term in office is up, leaving him potentially financially well-positioned after leaving office.
Walz’s financial disclosures and current financial standing provide insight into his dedication to public service and his relatively modest wealth compared to other politicians on the national stage. His focus on serving his constituents and his commitment to progressive policies have endeared him to many in Minnesota and beyond. With the potential for a White House victory, Walz’s financial future could see significant changes, reflecting his continued dedication to public service and the needs of the American people.
