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Gavin Newsom Is the 40th Governor of California; What Is His Net Worth?

Newsom started various business ventures, including restaurants, wineries, and retail stores.
PUBLISHED JAN 20, 2024
Cover Image Source: California Governor Gavin Newsom (C) speaks as Los Angeles Mayor Karen Bass (L) listens at a press conference | Getty Images | Photo by Mario Tama
Cover Image Source: California Governor Gavin Newsom (C) speaks as Los Angeles Mayor Karen Bass (L) listens at a press conference | Getty Images | Photo by Mario Tama
Name Gavin Newsom
Net Worth $20 Million
Source of Income Politics
Date of Birth October 10, 1967
Age 56 Years 
Gender Male
Profession Politician
Nationality United States of America

Gavin Newsom, a prominent figure in American politics, has built a staggering net worth of $20 million. Known for his role as the 40th governor of California, Newsom is a member of the Democratic Party. Moreover, he was the 49th lieutenant governor of California from 2011 to 2019 and the 42nd mayor of San Francisco from 2004 to 2011.

California Governor Gavin Newsom attends a memorial service for the late Sen. Dianne Feinstein (D-CA) at San Francisco City Hall on October 05, 2023 in San Francisco, California. Longtime Democratic Senator Dianne Feinstein died last week at the age of 90. Feinstein started her political career as a San Francisco supervisor before becoming the first female mayor of San Francisco. She was elected to the Senate in 1992. Getty Images | Photo by Justin Sullivan
California Governor Gavin Newsom attends a memorial service for the late Sen. Dianne Feinstein.  Getty Images | Photo by Justin Sullivan

Newsom's income sources include his extensive involvement in both politics and business. His foray into politics began during Willie Brown's 1995 campaign for San Francisco mayor, where he worked diligently to secure Brown's victory. Serving as the president of the Parking and Traffic Commission and later as a member of the San Francisco Board of Supervisors, Newsom gained valuable experience and visibility in municipal governance.

As a Supervisor, Newsom became known for his advocacy in the reform of San Francisco's municipal railway and his support for housing projects through public-private partnerships. However, his most impactful achievement during this tenure was the Care Not Cash voter initiative. After being successfully passed, this initiative directed resources toward providing care, drug treatment, supportive housing, and behavioral health services to the homeless.



 

Newsom was elected mayor of San Francisco in 2003. His re-election in 2007 was backed by a substantial campaign fund of $1.6 million. He was elected lieutenant governor of California twice, once in 2010 and then in 2014. As lieutenant governor, Newsom hosted "The Gavin Newsom Show" from 2012 to 2013. He also wrote the 2013 book "Citizenville."

In 2018, Newsom was elected governor of California. During his governorship, he faced criticism for his behavior and leadership during the COVID-19 pandemic. This was followed by an unsuccessful attempt to recall him from office in 2021, however, he was reelected the next year.

 California Gov. Gavin Newsom talks to reporters in the spin room following the FOX Business Republican Primary Debate at the Ronald Reagan Presidential Library on September 27, 2023 in Simi Valley, California. Seven presidential hopefuls squared off in the second Republican primary debate as former U.S. President Donald Trump, currently facing indictments in four locations, declined again to participate. Getty Images | Photo by Mario Tama
California Gov. Gavin Newsom talks to reporters. Getty Images | Photo by Mario Tama

Business ventures

In 1991, Newsom established PlumpJack Associates L.P. A year later, he founded the PlumpJack Winery with support from his family friend, Gordon Getty. Getty went on to invest in most of Newsom's businesses. The politician started various business ventures, including restaurants, wineries, and retail stores with over 700 employees. While his mayoral tenure prompted the sale of San Francisco businesses, Newsom retained ownership in ventures like the PlumpJack Winery. 

In 2011, Newsom and his wife acquired a property in Kentfield, California, for $2.225 million. They listed the home for sale in 2019 at $5.995 million, ultimately selling it in 2021 for $5.895 million. Following his election as Governor in late 2018, the couple purchased another property, this time a $3.7 million house in Sacramento. 


 
 
 
 
 
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A post shared by Gavin Newsom (@gavinnewsom)


 

Instagram 805K Followers
Twitter 2.1 Million Followers
(L-R) Hillary Clinton, California Gov. Gavin Newsom and Darren Walker speak onstage during the Clinton Global Initiative September 2023 Meeting at New York Hilton Midtown on September 18, 2023 in New York City. Getty Images | Photo by Noam Galai
(L-R) Hillary Clinton, California Gov. Gavin Newsom and Darren Walker. Getty Images | Photo by Noam Galai

In 2001, Newsom married former San Francisco prosecutor and conservative legal commentator Kimberly Guilfoyle. However, their marriage ended in 2006. The same year, Newsom began a relationship with film director Jennifer Siebel. The couple tied the knot in 2008, and today, they have four children.

- Recognition for Marriage Equality Advocacy (2004)

- Environmental Leadership Award (2019)

- Leadership in Public Policy Award (2020)

California Governor Gavin Newsom (L) gets a selfie taken with a Union worker at the construction of the Battery Energy Storage Systems (BESS) for the future site of Proxima Solar Farm on May 19, 2023 in Stanislaus County, California. The Governor unveiled legislation to speed up construction for a streamlined process and to expedite court review on legal challenges that often tie up projects. The project is expected to create 300 construction jobs and generate $35 million in local revenue. The project is expected to be operational by December, could power 60,000 homes in the surrounding region and can generate up to 210 megawatts of clean, renewable energy and 177 megawatts of better energy storage. Getty Images | Photo by John G. Mabanglo-Pool
California Governor Gavin Newsom (L) gets a selfie taken with a Union worker. Getty Images | Photo by John G. Mabanglo-Pool

What is Gavin Newsom's current salary as governor?

Newsom's salary as the governor of California falls around $224,020, but the exact figure remains undisclosed.

How did Gavin Newsom accumulate his wealth?

Newsom's wealth comes from his political career, entrepreneurial ventures, and real estate investments.

Is Gavin Newsom related to Nancy Pelosi?

No. While there was a close familial connection decades ago through marriage, they are not blood relatives.

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