Minnesota Governor Tim Walz, who is currently the Democratic running mate of Vice President Kamala Harris, has a modest financial profile compared to other political figures. His most recent financial disclosure revealed that he owns no stocks, bonds, or real estate. Despite his role as the governor of Minnesota, Walz’s salary is $127,629, and he chose not to accept a raise that would have increased his salary to $149,550. If elected as vice president, Walz would earn an annual salary of $284,600, based on 2024 rates.
In stark contrast to Walz’s financial situation, Republican presidential nominee Donald Trump is a billionaire several times over. Additionally, Kamala Harris listed securities investments worth between $800,000 and $1.75 million, with personal cash holdings ranging from $550,000 to $1.1 million. Harris’s running mate, Sen. JD Vance of Ohio, has a net worth estimated to be between $3 million and $10 million.
Prior to becoming governor of Minnesota, Tim Walz served in the U.S. House of Representatives. His congressional financial disclosures from early 2009 showed that he sold investments in two Roth individual retirement accounts with a value between $1,001 and $15,000. Walz also had assets in two Education Minnesota pension plans for himself and his wife, as well as two whole life insurance policies valued between $15,000 and $50,000 each. Additionally, he disclosed a rental room in their house worth between $250,000 and $500,000 from which they earned rental income.
While Walz’s financial disclosure as governor did not list the value of any cash in bank accounts, federal disclosure reports typically require filers to disclose amounts within ranges. His financial transparency is expected to increase as a federal candidate, where he will be required to file a new disclosure report in the next 30 days.
Governor Tim Walz’s financial profile reflects his long-standing commitment to public service and modest financial holdings. His decision not to accept a raise as governor and his lack of personal investments highlight his dedication to serving the people of Minnesota. As he embarks on his role as the Democratic running mate alongside Vice President Kamala Harris, it will be interesting to see how his financial situation evolves and how it compares to other political figures in the future.
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