Personal finances of Walz and Vance show stark differences

[Sullivan]

Personal finances of Walz and Vance show stark differences​

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.

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.

MSN

 

[seminole97]

Walz does not invest in any stocks, bonds or other securities


He should consider Ukrainian war bonds.

 

[Obviously Oblivious]

Riveting.

 

[jneffer]

Riveting.

it would be terrible if we had leaders that weren't wealthy

non-millionaires aren't worthy of the position

 

[Scott559]

So is the moral to the story Walz should get a Billionaire sugar daddy?

 

[Whiskeydeltadeltatango]

That can't be accurate.

 

[hawkeyetraveler]

That can't be accurate.

The Wall Street journal has a pretty in depth look. Walz is kind of an everyday guy with a middle of the road salary and net worth. Vance is a venture capitalist. What doesn’t seem right about it?

 

[VodkaSam]

Walz is as close to a real life example of “Mr Smith goes to Washington” as I’ve seen in my lifetime.

 

[lucas80]

So is the moral to the story Walz should get a Billionaire sugar daddy?

Vance is Peter Thiel's gimp. I believe the OP is suggesting the gimp of a billionaire is better for all Americans financially because their crumbs eventually fall down to the little people like him.

 

[luvmyhawks]

So walz hasn’t been bought and paid for by special interest, pacs and lobbyists? Sounds good to me.

 

[Whiskeydeltadeltatango]

The Wall Street journal has a pretty in depth look. Walz is kind of an everyday guy with a middle of the road salary and net worth. Vance is a venture capitalist. What doesn’t seem right about it?

If you are a 60 year old man and you have a 100k pension and not even enough life insurance to cover 1/3rd of your annual income you are a bloody moron.


Where is his money?

 

[EasyHawk]

Pretty common for a teacher. It's rough out there, but somebody has to learn the kids about CRT and help them transition.

 

[Whiskeydeltadeltatango]

Pretty common for a teacher. It's rough out there, but somebody has to learn the kids about CRT and help them transition.

I don't think he has been a teacher for 20ish years. And he would have had guard money?


Where is his money?

 

[hawkeyetraveler]

If you are a 60 year old man and you have a 100k pension and not even enough life insurance to cover 1/3rd of your annual income you are a bloody moron.


Where is his money?

He was a school teacher. He has a pension that the WSJ valued at something north of $800K. It’s written above. I think he also has a pension from his time in congress.

I suppose most folks that work for public institutions have pensions, not so much wealth in 401Ks or IRAs.

Also, with a two teacher household they have never been rolling in dough.

 

[Whiskeydeltadeltatango]

He was a school teacher. He has a pension that the WSJ valued at something north of $800K. It’s written above. I think he also has a pension from his time in congress.

I suppose most folks that work for public institutions have pensions, not so much wealth in 401Ks or IRAs.

Also, with a two teacher household they have never been rolling in dough.

The estimated it could get to that.. and I think that's his government one they are discussing. Meaning this dude is worth less than a million dollars at retirement age.



What???


He doesn't have like 7 divorces?

 

[Whiskeydeltadeltatango]

Would all of the teachers that said they have not been impacted by inflation and/or are currently in a better place than they were 4 years ago please raise your hand?

 

[StormHawk42]

The estimated it could get to that.. and I think that's his government one they are discussing. Meaning this dude is worth less than a million dollars at retirement age.



What???


He doesn't have like 7 divorces?

He really is just a simple guy. Kinda refreshing to have someone that isn’t crazy wealthy running for high office.

 

[Whiskeydeltadeltatango]

He really is just a simple guy. Kinda refreshing to have someone that isn’t crazy wealthy running for high office.

Storm...... surely you jest.


Simple is "this guy is on pace to retire"



This guy is going to work until the day he dies, because he has to.

 

[hawkeyetraveler]

The estimated it could get to that.. and I think that's his government one they are discussing. Meaning this dude is worth less than a million dollars at retirement age.



What???


He doesn't have like 7 divorces?

The bit above is incomplete in some ways. In the journal article it said they don’t have access to the retirement savings contributions he made as a congressman as those are not required to be on the disclosure forms.

I’m not an actuary, but pension valuation makes some assumption on life expectancy so perhaps that is a bit of it too. For sure he is making less than $100k/year in retirement any way you cut it.

 

[SeaPA]

If you are a 60 year old man and you have a 100k pension and not even enough life insurance to cover 1/3rd of your annual income you are a bloody moron.


Where is his money?

The article indicates that he has a life insurance policy with a cash value of $50k or less - but those forms would ONLY show the cash surrender value, not the face value (what gets paid to his beneficiaries if he dies). Those forms also don't show any info about any term policy that he might have, since those hold no cash value.

 

[StormHawk42]

Storm...... surely you jest.


Simple is "this guy is on pace to retire"



This guy is going to work until the day he dies, because he has to.

And…? He’ll have pension money. WSJ already dissected his finances pretty thoroughly. Doesn’t look terribly complicated and makes sense when he’s been on government salary his whole life.

 

[Whiskeydeltadeltatango]

The bit above is incomplete in some ways. In the journal article it said they don’t have access to the retirement savings contributions he made as a congressman as those are not required to be on the disclosure forms.

I’m not an actuary, but pension valuation makes some assumption on life expectancy so perhaps that is a bit of it too. For sure he is making less than $100k/year in retirement any way you cut it.

Ok, there is some undisclosed money somewhere. In a way that's almost comforting.

 

[Finance85]

Walz does not invest in any stocks, bonds or other securities


He should consider Ukrainian war bonds.

He will undoubtedly get some investment advice from Pelosi going forward. I expect him to be worth a couple of million in 2 years if he gets to be VP.

 

[KFsdisciple]

Personal finances of Walz and Vance show stark differences​

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.

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.

MSN

Sounds like JD is a smart business guy and someone who would make good decisions
on the economy.

Walz sounds like a commie socialist who will destroy America as we know it

 

[Colonoscopy]

This seems to be a pro Walz post.