Gavin Newsom is a well-known politician and businessman in the United States, with an estimated net worth of $20 million. Born in San Francisco, California, on October 10, 1967, Newsom is now 55 years old.
He has built a diverse career spanning politics and business, showcasing his versatility and drive. Known for his progressive policies and strong leadership, Newsom has become a significant figure in California’s political landscape.
His early life was marked by challenges, including his parents’ divorce and his struggle with dyslexia, which led him to change schools during his childhood. Despite these difficulties, he worked various jobs in high school to support his family and earned a degree in Political Science from Santa Clara University in 1989.
Newsom began his entrepreneurial journey at age 24 by co-founding PlumpJack Associates, which eventually expanded into the successful PlumpJack Winery.
His political career took off in 1995 when he volunteered for Willie Brown’s campaign. He eventually became the youngest mayor of San Francisco in 2003 and later served as California’s lieutenant governor and governor. Newsom’s journey reflects his unique ability to lead and tackle complex issues head-on.
Newsom and his wife, Jennifer Siebel, reside in Fair Oaks, California. He is the father of four children.
Newsom’s first marriage, to Kimberly Guilfoyle, lasted from 2001 until the couple divorced in 2006; Siebel was Newsom’s second. The first divorce reduced Gavin Newsom net worth significantly.
Christopher and Jennifer Newsom’s family consists of four members: two daughters, Montana Tessa and Brooklynn, and two sons, Hunter and Dutch William Siebel Newsom.
According to Celebrity, Gavin Newsom’s net worth is believed to be $20 million. His salary places him in the top spot compared to the other 50 governors. As stated by Ballotpedia, Gavin was reportedly paid a total of $209,747 in the year 2020.
The salary itself significantly boosts Gavin Newsom’s net worth, although it doesn’t match the Hunter Biden net worth of President Joe Biden’s son, who owns a lobbying firm.
The accomplishments of Gavin Newsom are evidence that hard work, perseverance, and commitment are rewarded with success.
After prevailing in the recall election, which forced him to fight for his political survival, Gavin focuses on various programs. These programs include coronavirus immunizations and school reopening.
Although Newsom is currently in the political arena, he began his career as the proprietor of a winery. In 1991, he established Plumpjack Associates with a partnership of other financiers.
They started the winery the following year after its establishment. Because of the project’s success for the small business, the company eventually expanded to employ more than 700 people, boosting Gavin Newsom’s net worth.
The business expansion is a notable achievement for Newsom as a businessman. However, his winery venture didn’t exponentially grow on the same level as other nationwide food and beverage companies, such as Harris Teeter Supermarkets, that led to the phenomenal Harris Teeter net worth.
Newsom and his investors started 11 other businesses between 1993 and 2000, including restaurants, motels, and retail clothes stores. Gordon Getty, the famous classical music composer, and businessman, was a partial partner in each of these businesses.
These businesses also contribute to Gavin Newsom’s net worth. Getty is also the fourth child of the industrialist J. Paul Getty in the United States.
In 1997, Brown appointed him to the San Francisco Board of Supervisors, and he served in that capacity until he ran for mayor in 2003. He was elected as the 42nd Mayor in 2003, making him the city’s youngest mayor in one hundred years.
Newsom won another term as governor in 2007. He won the election for the position of 49th Lieutenant Governor of California in 2010. In 2018, he won the election for the position of Governor of California.
In 2002, more than $6.9 million was placed on the worth of his business holdings. When Newsom became mayor of San Francisco in 2004, he divested himself of his ownership stake in his previous firms.
As time passed, his company expanded to the point that it now has over 700 people. By the year 2000, he had established a large number of businesses in a diverse variety of industries.
PlumpJack’s businesses range from the PlumpJack Winery and Café to PlumpJack Development, PlumpJackSport, and retail. This has ballooned Gavin Newsom’s net worth.
Between the years 1996 and 2001, his income was on average well over $425,000 per year. When 2002 rolled around, his investments’ aggregate worth was seven million dollars.
In 2004, Newsom was elected to the position of Mayor of San Francisco, which prompted him to sell his ownership in a number of his San Francisco-based businesses and organizations.
This move significantly reduced Gavin Newsom’s net worth. However, he did not relinquish control of the properties located outside of the city. In 2007, Newsom’s earnings were roughly $250,000.
He has experience working as an investor in the real estate industry, even if Newsom’s revenue is not as high as Adam Neumann’s net worth acquired through the entrepreneur’s real estate and technology business ventures.
Gavin and Jennifer purchased a home in Kentfield, California, for $2.225 million in 2011. In February 2019, they placed this residence on the market with an asking price of $5.995 million. They received $5.895 million for the sale of this residence in August of 2021.
Gavin and his wife bought a home in Sacramento for $3.7 million at the end of 2018, just after he became the governor of California.
Through the sale of several of his properties in 2009, Newsom realized a profit of $750,000. After winning the election for mayor, he immediately dove headfirst into the political arena and has been a reliable member of the Democratic Party ever since.
Reports indicate that in 2021, Gavin Newsom sold the estate he owned in Marin County for $5.9 million to purchase a new residence in Fair Oaks priced at $3.7 million. Newsom paid a little more than $2.2 million for the home when he purchased it in 2011.
His new house is 12,000 square feet and has six bedrooms. It’s on 8.2 acres. In addition to separate facilities for guests, the grounds feature a swimming pool, tennis court, and wine cellar.
We answer the most frequently asked questions about Gavin Newsom’s net worth.
Gavin Newsom’s net worth is around $20 million. This amount is significant because it’s even greater than Barron Trump’s net worth, the son of Donald Trump. However, it’s still not on the same level as Ivanka Trump’s net worth, the former president’s daughter.
Before Newsom became governor, he amassed his fortune through successful business ventures and investments in real estate.
Yes. Gavin Newsom is a millionaire.
It’s plausible to assume that Newsom was born into money because his father served as a judge and an attorney for Getty Oil.
Gavin Newsom’s net worth reflects his successful career in politics, business, and real estate. With an estimated fortune derived from his family background, entrepreneurial ventures, and public service, Newsom has established himself as both a political figure and a savvy investor.
His diverse portfolio, which includes a range of business interests, highlights his financial acumen and strategic decisions outside of politics. As his career continues to evolve, it will be interesting to see how his financial profile grows alongside his political influence.
Judith Harvey is a seasoned finance editor with over two decades of experience in the financial journalism industry. Her analytical skills and keen insight into market trends quickly made her a sought-after expert in financial reporting.
