Tim Walz, Kamala Harris’ vice presidential running mate, earns six figure salary as governor of Minnesota, but his net worth is on par with that of the 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 tied up in a retirement account, according to the document. That puts his net worth on par with the median U.S. household net worth of $193,000.
Walz is much less well off than Republican vice presidential candidate JD Vance, a multimillionaire whose net worth stands between $4.8 million and $11.3 million. And Walz is miles behind Nelson Rockefeller, who in the 1970s was Veep under President Gerald Ford and who is regarded as perhaps the richest vice president in U.S. history by virtue of his family fortune.
Forty-first Vice President of the United States; confirmed by the 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 per year as Minnesota’s governor, the form 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 type of middle-income job that doesn’t lend itself to building a large nest egg. Now in his second term as governor of Minnesota, Walz also spent 12 years as a U.S. congressman, a role that currently pays $174,000 per year.
While his financial disclosure didn’t outline the value of his federal pension benefit, it could be worth as much as $800,000, according to an analysis by the Wall Street Journal.
Walz also has a pension through the Teachers’ Retirement Association of Minnesota, but the disclosure form said the value was “not readily ascertainable.” He is eligible for a pension payment of about $1,111 per month through that plan.
Walz doesn’t list a home among his assets. In 2023, he and his wife, Gwen, moved into the University of Minnesota’s Eastcliff Mansion amid renovation work on the Minnesota governor’s mansion, according to the Minnesota Daily.
Tim Walz’s assets
Here’s what Tim Walz listed on his federal disclosure form:
- Minnesota State Retirement plan: $100,001-$250,000
- Health savings plan: $2,002-$30,000
- Wells Fargo: $15,001-$50,000
Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.
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