Democrat Tim Walz is one of the poorest vice presidential candidates in U.S. history. Washington PostWhich published a financial statement about the financial status of the Governor of Minnesota and his wife, Gwen.
According to this, the two together earned $166,000, or nearly 60 million Hungarian forints, in 2022, which includes Valz's annual salary of $115,485 as governor.
The Waltz family is just above the salary range of the average middle-class American.
A Forbes Walz’s net worth is estimated at around $330,000, less than the average American his age has in savings. According to his most recent tax returns, the 60-year-old Minnesota governor has no business, no stocks, and no real estate. The asset declaration he filed with the state of Minnesota this year is almost entirely blank, listing only income from his state job and his wife’s teaching job. His wife, Gwen Walz, 58, is a college lecturer who has held several positions at Augsburg University in Minneapolis in recent years.
After Walz became governor in 2019, they sold their home in Mankato, Minnesota, and moved into the Minnesota Governor’s Residence in St. Paul. They are currently living in the President’s House at the University of Minnesota while the governor’s residence is remodeled. As vice president, Walz will receive a salary of $284,600, a significant increase for him.
According to American University history professor Allan Lichtman, Walz is already one of the least wealthy vice presidential candidates, but it wouldn’t be entirely unusual for such a person to be vice president. Hubert Humphrey, the college professor-turned-politician, wasn’t particularly wealthy when he became Lyndon Johnson’s vice president in 1965. At the other extreme is Dick Cheney, who served as CEO of energy giant Halliburton when he was vice president to Republican President George W. Bush in the 2000 election and had an estimated net worth of more than $50 million when he took office.
Kamala Harris, who has transitioned from vice president to presidential candidate, announced in early August that she had chosen the Minnesota governor as her running mate. Democrats are hoping that the Minnesota governor can give Harris’s still-nascent campaign another boost. We’ve written about Walz and his political career in detail here.
