Here’s how much Pete Buttigieg is worth
“I actually live in a middle class lifestyle, in a middle class neighborhood, in the American Midwest,” said Pete Buttigieg recently. told CNBC. He has the finances to prove it.
Forbes estimates that Buttigieg has accumulated a net worth of around $ 100,000, largely thanks to his six-figure salary as mayor of South Bend, Indiana, which makes him a financially well-off Midwesterner, but the one of the less wealthy presidential candidates of 2020.
Its income has jumped up and down over the past decade. In 2010, Buttigieg left his position as a well-paid consultant at McKinsey & Company to become full-time treasurer of his home state of Indiana. His annual income has dropped from $ 150,000 to $ 34,000, according to his tax returns. He lost that race and then decided to run for mayor of South Bend. His income fell further, to just $ 7,000 in 2011, supported only by his 2009 decision to enlist in the US Navy Reserve. “I had health insurance and a small reserve right income,” Buttigieg wrote in his 2019 book Shortest way home, “but it was about $ 400 a month, just enough to cover my mortgage.”
Fortunately, he won the post of mayor and the generous salary that came with it. One of Indiana’s highest paid mayors, Buttigieg has brought in over $ 100,000 every year since taking office in 2012, except in 2014, when his earnings fell to $ 46,000 because he was deployed to Afghanistan for part of the year, giving up to his municipal salary.
Buttigieg funneled this income from the mayor – plus a portion of $ 30,000 of his pound advance – into a portfolio of cash and investments, including Google and Apple stocks, valued between $ 87,000 and $ 300. $ 000, according to a Forbes analysis of its financial statement.
But his greatest asset is his house. Upon returning to Indiana ten years ago, Buttigieg shelled out $ 125,000 for a vacant 2,500 square foot neoclassical house in the neighborhood where he grew up. He set about renovating it, taking out a $ 100,000 mortgage that made headlines earlier this year when he revealed the payment was only $ 450 per month. A second mortgage, taken out in 2017 for $ 70,000, likely adds about $ 400 more to her monthly bill.
Forbes estimates that Mayor Pete, who declined to comment on this story, still owes about $ 150,000 on mortgages. In addition, he and his husband, Chasten, a former college professor, owe between $ 110,000 and $ 245,000 in student loans, according to the financial disclosure form.
Last year, the couple earned nearly $ 153,000. And 2019 is shaping up to be their most lucrative year yet, as Buttigieg secured the remaining $ 45,000 from his book advance and royalties from the bestseller, which was released in February, began to leak. But their six-figure days may be coming to an end. Chasten resigned his teaching job earlier this year, and when Mayor Pete’s last term expires at the end of the year, he could again find himself unemployed while running for a job.