What is Tim Walz’s net worth?

Tim Walz’s path to the Democratic vice presidential nomination was a winding one. Walz began his career serving in the National Guard and working as a public school teacher in Nebraska and Minnesota. He was elected to the House of Representatives in 2006 and reelected to five more terms before deciding to run for governor of Minnesota. He was elected in 2018 and reelected in 2022. Because he has served in public service for over two decades, most of his financial information is readily available. Here’s a deeper look at Tim Walz’s net worth:

His total income in 2023 was approximately $300,000.

According to Wall Street JournalAccording to their 2023 tax returns, Tim and Gwen Walz had a combined income of about $299,000, $135,000 of which came from pensions and annuities.

As governor of Minnesota, Walz makes $127,629 a year. His salary could have increased this year, but he declined. According to the Minnesota Legislative Reference Library, “As of August 2023, the Compensation Board has received communication from the Governor’s office that he will not increase his salary. Although his official salary has increased, the amount Governor Walz receives will remain the same at $127,629.”

“Tim Walz dedicated his life to serving our country and his community — in the Army National Guard, in the classroom and in the hallways of government,” Harris-Walz campaign spokesman Charles Lutvak said in a statement. “He and Gwen worked hard to earn a living, like many families across the country.”

He does not own any real estate.

In 2019, the Walzes sold their Minnesota home for $304,000, below the asking price, and moved into a rented place while they renovated the governor’s mansion.

Walz’s only asset is his retirement plans.

According to Walz’s financial disclosure to the state of Minnesota, last updated in January 2024, he has no securities. According to his 2019 financial disclosure to Congress, he has state and teacher retirement plans, a 529 college plan for his children and a life insurance policy.

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Emily Burack (she/her) is a senior news editor at Town & Country, where she covers entertainment, culture, royalty and more. Before joining T&C, she was deputy managing editor at Hey Alma, a website dedicated to Jewish culture. Follow her @emburack on Twitter and on Instagram.