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.
There is a huge difference in “exploiting his position” and being financially illiterate.
Not in the US. That’s how people get ridiculously rich. 100% of the time. Every time.
85% of millionaires are self made, received no inheritance, average age 50ish, and accomplished this feat by investing over 25-30 years in blue chip companies. It’s basic financial literacy.
Yeah no man. That isn’t basic knowledge. That was never taught to any of us. I’m sure it was if you were born with a silver stick up your ass. Being lazy is what those people do best. Soft hands and all you know. But for the rest of us, the wage slaves. Investing is something boomers like to scream about incoherently. Not a real thing in our world. We’re too busy paying bills and eating occasionally.
When i started learning about investing i lived in a crackhouse and am descended from a long line of poor white trash. Some people create results and others create excuses. Which are you going to be?