Tim Walz, Kamala Harris’ vice presidential running mate, earns a six-figure salary as governor of Minnesota, but his net worth is comparable to that of a typical American family, according to a federal disclosure form filed in August.
Walz’s net worth is estimated at between $117,000 and $330,000, with most of his assets in a retirement account, the document said. That puts his net worth on par with the average U.S. net worth of $193,000.
Walz is far less well off than Republican vice presidential candidate JD Vance, a multimillionaire whose net worth is between $4.8 million and $11.3 million. And Walz is miles behind Nelson Rockefeller, who was Veep under President Gerald Ford in the 1970s and who is perhaps considered the richest vice president in American history because of his family fortune.
Forty-first Vice President of the United States; confirmed by Congress and took the oath of office on December 19, 1974, and served until January 20, 1977,
Walz, 60, earns a salary of about $210,000 a year as governor of Minnesota, the filing shows. That’s well above the median U.S. household income of about $80,610.
But for most of his career, Walz worked as a public school teacher and football coach, the kind of middle-income job that doesn’t lend itself to building big savings. Now in his second term as governor of Minnesota, Walz has also spent 12 years as a U.S. congressman, a role that currently pays $174,000 a year.
Although his financial disclosure did not outline the value of his federal retirement benefit, it could be worth as much as $800,000, according to a Wall Street Journal analysis.
Walz also has a pension through the Teachers’ Retirement Association of Minnesota, but the disclosure form said the value was “not easily determined.” Through that plan, he is eligible for a retirement benefit of approximately $1,111 per month.
Walz does not list a house among his properties. According to the Minnesota Daily, he and his wife Gwen moved into the University of Minnesota’s Eastcliff Mansion in 2023, amid renovations to the Minnesota governor’s mansion.
Tim Walz’s belongings
Here’s what Tim Walz stated on his federal disclosure form:
- Minnesota State Pension Plan: $100,001-$250,000
- Health Savings Plan: $2,002-$30,000
- Wells Fargo: $15,001-$50,000
