Tim Walz’s financial disclosure: How much does he make as governor of Minnesota?

Minnesota Governor Tim Walz was selected as Vice President Kamala Harris’ running mate in early August. Though Walz has spent more than a decade in public office, his career began in the classroom as a high school teacher. His non-traditional path to politics also makes him unique in that he has not amassed millions of dollars during his time in Washington as a congressman or in St. Paul during his time as governor.

An examination of all members of Congress found that only seven percent of members did not own any stocks, widely held investment funds, or a qualified blind trust. Walz falls into this group as the only stocks we owned were part of public pensions for his work as a teacher and elected official.

In 2011, then-Representative Walz voted in favor of a bill that would ban members of Congress from stock trading. He cited a study that found that if you compared the gains made by members of Congress to those of the market, Congress performed the market by six to eight percent a year. This indicates that congressional representatives are using their insider information when they purchase stocks, which Walz warned would lead to a major deterioration in the public’s trust in their officials.

How much does Tim Walz make as Governor?

When it comes to properties, another common vehicle to park wealth, the Walz family owns none. After being elected Minnesota governor, Governor Walz and his wife Gwen decided to sell their home as they would be moving into the governor’s mansion. This year, Governor Walz will take home a pre-tax income of $149,550, which is the highest salary offered to any governor in the state’s history. This salary places them squarely in the upper-middle class of the state, and when they retire, they should have the savings and monthly income required to purchase a home once again.

How does his salary compare to that of other governors?

The states with the highest-paid governors are New York ($250,000), Pennsylvania ($237,679), California ($234,101), Vermont ($208,995), and Tennessee ($204,336). In 2022, Ballotpedia found that the median salary across the country was $148,939 in 2022, and since then, incomes have gone up in many states. In 2022, Tim Walz made $127,629, just over $20,000 less than the average.