Politicians are a different breed.
A very rich breed, it turns out. Forbes just released a report on the net worth of every candidate in the 2020 presidential race, and only 3 of the 26 people running have a financial portfolio below that of the average American family (which is $692,000).
The report was put together using financial disclosure statements, local real estate records, pension benefits and asking the candidates themselves — with Forbes then ranking each candidate on scale of of 0-5 for financial transparency.
Some of the most interesting results:
- Donald Trump leads the pack with an estimated net worth of $3.1 billion … and a transparency score of zero.
- Tom Steyer, a hedge fund tycoon who only entered the presidential race in July, is second at $1.6 billion.
- Elizabeth Warren is the wealthiest woman on the list, with an estimated net worth of $12 million — a third of which is tied up in her family’s house, which was purchased for $447,000 in 1995 and now worth $3 million.
- Poor Pete Buttigieg! While Mayor Pete’s net worth is an editor-worthy $100,000 (coupled with, no joke, high student loans), the 37-year old does have the most billionaire backers to his campaign (23).
- The most charitable candidates are Steyer and New Jersey Senator Cory Booker.
Most of the wealth outside the top three candidates comes from astute real estate buys, marrying into money, consulting, book deals (which accounts for most of Bernie Sanders’s $2.5 million net worth) and long-time work at high-paying professions (lawyer, Ivy League professor, etc.)
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