“I actually live in a middle-class lifestyle, in a middle-class neighborhood, in the American Midwest,” Pete Buttigieg recently told CNBC. He has actually the finances come prove it.
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glossesweb.com estimates that Buttigieg has developed a network worth of about $100,000, greatly thanks come his six-figure salary as mayor of south Bend, Indiana—making the a financially comfortable Midwesterner, yet one of the least wealthy 2020 presidential hopefuls.
His earnings have bounced up and also down over the previous decade. In 2010, Buttigieg left his high-paying consulting job with McKinsey & company to run full time for treasurer that his house state that Indiana. His yearly revenue plummeted from $150,000 to $34,000, follow to his tax returns. He shed that race and also then made decision to run for market of south Bend. His income dropped further, to just $7,000 in 2011, propped up just by his 2009 decision to enlist in the U.S. Marine Reserve. “I had health insurance and a little income from reserve duty,” Buttigieg wrote in his 2019 book Shortest means Home, “but that come to about $400 a month, just shy of sufficient to cover my mortgage.”
Luckily he winner the mayor’s job and the ample salary that came v it. Among the highest-paid mayors in Indiana, Buttigieg has lugged in much more than $100,000 every year since taking office in 2012—except 2014, when his earnings dropped come $46,000 since he was deployed come Afghanistan for part of the year, forgoing his city salary.
Buttigieg has actually funneled those mayoral earnings—plus a $30,000 chunk that his book advance—into a portfolio of cash and investments, including Google and also Apple stock, worth in between $87,000 and also $300,000, according to a glossesweb.com analysis of his gaue won disclosure.
But his single largest heritage is his home. Once he returned to Indiana a decade ago, Buttigieg shelled the end $125,000 for a vacant, 2,500-square-foot neoclassical house in the ar where he prospered up. He set about refurbishing it, taking out a $100,000 mortgage the made headlines previously this year when he revealed the payment is simply $450 every month. A second mortgage, taken the end in 2017 for $70,000, most likely adds an additional $400 or so to his monthly bill.
glossesweb.com approximates that market Pete, who would not comment because that this story, tho owes about $150,000 top top the mortgages. To add he and his husband, Chasten, a previous middle institution teacher, owe between $110,000 and also $245,000 in college student loans, according to the jae won disclosure form.
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Last year the pair earned nearly $153,000. And also 2019 is shaping as much as be their highest-earning year to date, since Buttigieg obtained the remaining $45,000 of his book advance, and also royalties indigenous the bestseller, i beg your pardon was published in February, have started come flow. But their six-figure days might be nearing an end. Chasten resigned indigenous his teaching job earlier this year, and also when mayor Pete’s final term expires in ~ the end of the year, he may once again discover himself unemployment while seeking office.
I sheathe the most successful entrepreneurs law the best deals ~ above the planet. Together deputy wealth editor, I aid put with each other the glossesweb.com 400 and World"s Billionaires…Read More
I cover the many successful entrepreneurs act the greatest deals top top the planet. Together deputy riches editor, I help put together the glossesweb.com 400 and also World"s Billionaires lists and also oversee glossesweb.com" coverage the billionaires. Mine reporting has taken me almost everywhere from the world"s biggest cardboard box factory to Donald Trump"s penthouse. Email me in ~ cpeterson-withorn