From venture capital to the U.S. Capitol: a look at the net worth of JD Vance
Republican JD Vance and Democrat Tim Walz will go head to head on Tuesday evening for the only vice presidential debate before the Nov. 5 election.
But the two vice presidential candidates don't just differ starkly on their political views, they also have very different financial standings.
Vance often touts his modest upbringing in a working-class household in Ohio, but according to a Washington Post analysis, his net worth is an estimated $10 million from book royalties, stock ownership, his venture capital firm, and his annual salary as a U.S. senator.
In contrast, the median net worth for American households in 2022 was $192,200, according to the Federal Reserve's Survey of Consumer Finances.
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By comparison, Walz has no investments, bonds, stock holdings, or real estate and does not currently own a home, as Paste BN reported.
According to his 2019 financial disclosure report as a member of Congress, Walz's assets are limited to his state and federal pensions as a former teacher and congressman, life insurance, and college savings. An analysis from the Wall Street Journal found the pensions could add about $800,000 to his net worth.
Where does Vance's money come from?
After attending Yale Law School and serving as a U.S. Marine, Vance built up his monetary cushion through a career in venture capitalism. He spent a few years in Silicon Valley working at Mithril Capital and later launched his own firm, Narya, in Ohio.
Alongside his earnings from venture capitalism, another one of Vance's revenue streams comes from his bestselling memoir, "Hillbilly Elegy," which provided him with $121,376 in book royalties in 2022.
Walz will likely question Vance's Midwestern credentials during Tuesday night's debate.
"Like all regular people I grew up with in the heartland, JD studied at Yale, had his career funded by Silicon Valley billionaires, and then wrote a bestseller trashing that community," Walz said at his first rally as Harris' vice presidential pick. "Come on! That's not what middle America is."
In 2022, Vance earned roughly $1 million from a lucrative combination of his $174,000 U.S. Senate salary, his venture capital firm salary, book royalties and investment income from holdings, including real estate rental fees and stock dividends, according to ABC.
According to financial disclosures, Vance's other assets include stock ownership in more than 100 companies, cryptocurrency valued between $100,001 and $250,000, three college savings accounts for his three children worth between $31,000 and $115,000 in total, according to CNN, and retirement accounts. Other investments include several bank accounts, CDs, and exchange-traded funds tracking everything from the S&P 500 and Dow to Treasuries, gold, and oil.
The vice presidential candidate also has realty income and assets. In 2022, Vance took in between $15,001 and $50,000 in rental income from a Washington, D.C., rowhouse. He and his wife, Usha Vance, also own homes in Virginia and Ohio.
Contributing: Reuters and Paste BN's Medora Lee, Erin Mansfield and Joseph Garrison