Minnesota Governor Tim Walz has gained significant attention following his selection as Vice President Kamala Harris’ running mate for the 2024 election.
A former high school social studies teacher from rural America, Walz positions himself as a relatable candidate in contrast to his Republican opponent.
During a Democratic rally in Philadelphia on August 6, Walz highlighted the differences in their backgrounds, emphasizing his own working-class roots. He stated,
“Donald Trump’s not fighting for you or your family. He never sat at that kitchen table like the one I grew up at, wondering how we were going to pay the bills.”
This statement underscores his appeal to voters who prioritize authenticity and shared experiences in leadership.
Governor Tim Walz has attracted attention for his unique financial approach as a political figure. Notably, it has been reported that he does not invest in any stocks, bonds, or securities.
This detail emerged from a U.S. House of Representatives disclosure in 2019 and remains true as of August 2024, according to Axios.
Kathleen Hall Jamieson, director of the Annenberg Public Policy Center at the University of Pennsylvania, notes that Walz’s lack of investments sets him apart from many of his government counterparts.
This decision may enhance his image as a candidate who prioritizes the interests of ordinary Americans over financial gain, further reinforcing his relatable persona in the political landscape.
“I’m not easily surprised by political information. But to see that he owns no stock?” Jamieson told.
“I think there are a whole lot of people out there saying, ‘Hey, yeah, that’s kind of who I am. I’ve got a little pension, if I’m lucky.’”
Governor Tim Walz’s limited financial portfolio is primarily composed of his state and federal pensions from his time as a teacher and a Congressman, along with life insurance and college savings, as revealed in a House disclosure. This simplicity in his financial assets underscores his focus on public service rather than wealth accumulation.
The disclosure also indicated that Walz’s wife, Gwen Walz, earns income from her work in a Minnesota public school and at the law firm Hogan Lovells.
This financial setup aligns with Walz’s image as a grounded, relatable candidate committed to serving the needs of everyday Americans, rather than engaging in the complexities often associated with financial investments.
As Governor, Tim Walz earns an annual salary of approximately $127,000. If he and Vice President Kamala Harris win the 2024 election, his salary would increase to $235,100 as Vice President.
Notably, the Minnesota Legislative Reference Library reported that Walz was offered a salary increase in August 2023 but declined it, opting to keep his salary at its current level.
Additionally, Walz and his wife sold their home in 2019 for $304,000 after relocating to the Minnesota Governor’s Mansion.
Tim Walz withdrew $135,000 from his retirement savings to fund his daughter Hope’s college education, utilizing the pensions he accumulated from his service in the National Guard, his time in Congress, and his teaching career.
This financial maneuver highlights the accessibility of these benefits, particularly as a father of two.
Additionally, reports indicate that Walz’s pensions could contribute an estimated $800,000 to his and his wife’s net worth, which was initially appraised between $112,000 and $330,000 in 2019.
