Tim Walz Among Least-Wealthy VP Contenders In History

Tim Walz stands out as one of the least affluent nominees for the vice presidency in U.S. history.

What Happened: Financial disclosures indicate that Walz and his wife, Gwen, had a combined income of $166,000 in 2022. This sum includes earnings from renting a room in their Washington townhouse and Walz’s yearly salary as Minnesota governor.

The Insider estimates Walz’s net worth to be $330,000, which falls below the median net worth of an average American citizen in his age group. This financial situation mirrors the challenges faced by many in his generation, Gen X, a demographic often associated with high debt and financial instability.

Republican vice-presidential nominee JD Vance had assets ranging from $4.3 million to $10.8 million in 2022.

Also Read: Kamala Harris Surges Ahead Of Trump In Key States, Young Americans Bank On Harris For Economic Revival

Presidential historian Mark Updegrove pointed out that Walz’s financial standing is not typical among recent vice presidential nominees, who have generally been financially stable. Nonetheless, Walz, who previously worked as a social studies teacher, has voiced satisfaction with his income.

The next vice president will receive an annual salary of $284,600.

Why It Matters: Walz’s financial status is a departure from the norm among vice-presidential candidates, reflecting the economic realities faced by many in his generation.

His nomination could signal a shift in political norms, potentially making public office more accessible to individuals from a wider range of economic backgrounds.

This could have significant implications for future elections and the diversity of candidates.

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This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.