Are you curious about Gavin Newsom net worth? As of 2023, Gavin Newsom has a net worth of $20 million.
Newsom is an American politician and investor who is currently serving as the 40th governor of California, a position he has held since 2019.
Newsom’s wealth comes from a combination of his career in politics and his investments. He has been involved in various business ventures throughout his life, including wineries, restaurants, and hotels.
In addition to his personal wealth, Newsom is also one of the highest-paid governors in the country, earning $218,556 per year. If you’re interested in learning more about how Newsom has amassed his fortune, read on.
Early Life And Career
You probably know Gavin Newsom as the current governor of California, but his journey to political power started long before that.
Newsom was born on October 10, 1967, in San Francisco, California. His parents were Tessa and William Newsom, a judge and attorney, respectively.
Newsom attended Redwood High School in Marin County and graduated in 1985. He then went on to study at Santa Clara University, where he graduated with a Bachelor of Arts degree in political science in 1989.
After college, Newsom started his career in business, opening a wine shop in San Francisco called PlumpJack. He later expanded the business to include a hotel, a restaurant, and several other ventures.
Newsom’s interest in politics led him to run for the San Francisco Board of Supervisors in 1998. He won the race and served on the board until 2004, when he was elected mayor of San Francisco.
As mayor, Newsom gained national attention for his support of same-sex marriage. In 2004, he directed the San Francisco city clerk to issue marriage licenses to same-sex couples, which led to a legal battle that ultimately ended with the California Supreme Court legalizing same-sex marriage in the state.
Newsom served as mayor of San Francisco until 2011, when he was elected lieutenant governor of California.
He held that position until 2019, when he was elected governor of California, succeeding Jerry Brown.
Throughout his career, Newsom has been a member of the Democratic Party and has been known for his progressive views on issues like healthcare, climate change, and gun control.
Business Ventures
Gavin Newsom has made his fortune through various business ventures, including the PlumpJack Group, restaurants, hotels, wine stores, and investments.
PlumpJack Group
The PlumpJack Group is a conglomerate of businesses ranging from wineries to restaurants to retail stores.
Newsom co-founded PlumpJack with Gordon Getty, a San Francisco philanthropist and classical music composer. The group’s name comes from a term used to describe an oversized wine bottle.
Restaurants
PlumpJack Group owns several restaurants, including Balboa Cafe, a historic San Francisco establishment. The group also owns several other restaurants in the Bay Area, including the PlumpJack Cafe in Squaw Valley.
Hotels
PlumpJack Group also owns hotels, including the PlumpJack Squaw Valley Inn and the Carneros Resort and Spa in Napa Valley.
Wine Stores
PlumpJack Wine Store is a retail store that sells wine, spirits, and gourmet food. The store has several locations in the Bay Area, including San Francisco and Palo Alto.
Investments
Newsom has made investments in various companies, including Airelle Wines Inc and Fishers, a sustainable seafood company.
He has also been involved in the technology sector, serving as a board member for several tech companies.
In addition to his business ventures, Newsom’s wife, Jennifer Siebel, is also involved in the entertainment industry. She is a documentary filmmaker and actress.
Newsom’s ex-wife, Kimberly Guilfoyle, is a former Fox News personality and political commentator.
Newsom’s net worth is estimated to be around $20 million, much of which comes from his business ventures.
Gavin Newsom Net Worth
You may be surprised to learn that Gavin Newsom, the 40th governor of California, has a net worth of $20 million. He is not only a politician, but also an investor and businessman.
Most of Newsom’s wealth comes from his private investments and family wealth. He has been involved in various businesses, including wineries, restaurants, and hotels. He also founded a group of hospitality businesses called the PlumpJack Group.
As governor, Newsom’s salary is $218,556 per year, making him the highest paid governor in the country. He recently received an $8,809-per-year raise, which will take effect in December.
In addition to his personal wealth, Newsom has received support from billionaire donors in his political career.
However, some billionaires have backed his opponent, Caitlyn Jenner, in the California gubernatorial race.
Overall, Newsom’s net worth reflects his success in both business and politics.
Political Career
Mayor Of San Francisco
During his political career, Gavin Newsom served as the 42nd Mayor of San Francisco from 2004 to 2011. He was elected in 2003 at the age of 36, making him the city’s youngest mayor in a century. Newsom was re-elected in 2007 with 72% of the vote.
During his tenure, he implemented several policies, including universal healthcare for all San Franciscans and same-sex marriage.
Lieutenant Governor Of California
Newsom was elected as the Lieutenant Governor of California in 2010, defeating incumbent Republican Abel Maldonado.
He was re-elected in 2014, serving until 2019. As Lieutenant Governor, Newsom focused on issues such as climate change, education, and criminal justice reform.
Governor of California
In 2018, Newsom was elected as the Governor of California, succeeding Jerry Brown. As Governor, he has focused on several key issues, including healthcare, education, and housing.
Newsom has also been a vocal advocate for gun control and has signed several gun control bills into law. In response to the COVID-19 pandemic, Newsom implemented strict lockdown measures and worked to secure medical supplies and equipment.
Recall Election
In 2021, a recall election was launched against Newsom, which he survived with over 60% of the vote. The recall election was largely driven by criticism of Newsom’s handling of the COVID-19 pandemic, as well as his policies on issues such as immigration and taxes.
Throughout his political career, Newsom has been affiliated with the Democratic Party and has been supported by several prominent Democrats, including Nancy Pelosi.
His opponents have included Republican John Cox, who ran against him in the 2018 gubernatorial election.
Newsom’s high school alma mater is Redwood High School in Sacramento, and he previously served on the San Francisco Parking and Traffic Commission. As a San Franciscan, Newsom has been involved in California politics for many years.
Personal Life
Gavin Newsom has been married to Jennifer Siebel Newsom since 2008. Jennifer is an actress, filmmaker, and advocate for women’s rights. Together, they have four children: Montana, Hunter, Brooklynn, and Dutch.
Gavin Newsom’s sister, Hilary Newsom Callan, is the president of the PlumpJack Group, a hospitality management company that Gavin founded in 1992. His cousin, Nats Getty, is a model, artist, and LGBTQ activist.
Gavin Newsom has been open about his struggles with dyslexia, a learning disorder that affects reading and writing skills. Despite this challenge, he has achieved significant academic and professional success.
In 2004, Gavin Newsom made headlines when he issued marriage licenses to same-sex couples as the mayor of San Francisco. He has been a vocal advocate for LGBTQ rights throughout his career.
In his free time, Gavin Newsom enjoys playing basketball and baseball. He is also a devout Irish Catholic and has spoken publicly about the role of faith in his life.
Controversies
Scandals
Gavin Newsom has been involved in several scandals throughout his career. One of the most notable was his affair with his campaign manager’s wife in 2007, which led to his divorce from his first wife. He later married actress Jennifer Siebel Newsom.
Another scandal involved his decision to allow San Francisco city officials to issue marriage licenses to same-sex couples in 2004, which went against state law at the time.
This move was seen as controversial by some, but it ultimately helped pave the way for same-sex marriage to become legal in California.
Clemency And Pardons
As Governor of California, Newsom has faced criticism for his use of clemency and pardons. In 2019, he issued a moratorium on the death penalty, which was met with both praise and criticism.
He has also granted clemency to several individuals, including a man who was facing deportation to Cambodia and a woman who was serving a life sentence for murder.
Homelessness
Newsom has been criticized for his handling of the homelessness crisis in California. While he has taken steps to address the issue, including allocating billions of dollars to combat homelessness and creating a task force to address the issue, many believe that more needs to be done to address the root causes of the crisis.
Cannabis Legalization
Newsom has been a vocal advocate for the legalization of cannabis in California. He played a key role in the passage of Proposition 64, which legalized the recreational use of cannabis in the state.
However, he has faced criticism for his handling of the implementation of the law, including delays in the licensing process and concerns over the regulation of the industry.
Death Penalty
As mentioned earlier, Newsom issued a moratorium on the death penalty in California in 2019. This move was met with both praise and criticism, with some arguing that it was a step in the right direction towards ending the practice in the state, while others believed that it was an overreach of executive power.
Newsom has also faced criticism for his handling of individual cases, including his decision to commute the sentences of 21 individuals on death row in 2019.
Overall, Newsom’s controversies have been a source of both praise and criticism throughout his career. While he has taken steps to address some of these issues, many believe that more needs to be done to address the root causes of these problems.
Key Takeaways
If you’re curious about Gavin Newsom’s net worth, here are a few key takeaways to keep in mind:
Gavin Newsom is a wealthy man, with an estimated net worth of $20 million.
- Much of Newsom’s wealth comes from his private investments and family wealth, rather than his salary as Governor of California.
- Newsom was born into privilege and has maintained close connections with wealthy families in the Bay Area, which has likely contributed to his financial success.
- In addition to his political career, Newsom has also worked as a businessman and entrepreneur, and has invested in a variety of companies and ventures over the years.
- Newsom is also known for his involvement in environmental and science-related initiatives, particularly in the areas of clean energy and climate change.
- Finally, it’s worth noting that Newsom is also a filmmaker, having produced a number of documentaries and other films over the years.
Overall, while Newsom’s net worth is certainly impressive, it’s important to remember that wealth is just one measure of success, and that there are many other factors that contribute to a person’s legacy and impact.
