Byron Donalds’ net worth revealed: How rich is the U.S. representative from Florida?

Byron Donalds is an American politician, financial analyst, and prominent Black Republican who has served as the U.S. representative for Florida’s 19th congressional district since 2021. A rising figure among U.S. conservatives, Donalds has advocated for limited government and free market. Today, we’ll reveal Byron Donalds’ net worth and explore his public sources of income.

How rich is Byron Donalds?

Byron Donalds graduated from Nazareth Regional High School in East Flatbush, Brooklyn. He enrolled in Flordia A&M University but transferred to Florida State University, receiving a B.S. in finance and marketing in 2002.

He began his career in 2003 at TIB Bank as a credit analyst, progressing to senior credit analyst, commercial credit manager, and assistant vice president. In 2007, he became a portfolio manager at CMG Surety. In 2015, he became a financial advisor at Wells Fargo Advisors. 

Donalds’ political career started with the Tea Party movement of the Republican Party. His first attempt at winning a seat on the U.S. House of Representatives in Florida’s 19th congressional district in 2012 was unsuccessful. In 2016, he was elected to the Florida House of Representatives, later chairing the Insurance and Banking Subcommittee.

In 2020, he was elected to succeed the retiring Francis Rooney as the U.S. representative for Florida’s 19th congressional district. He was also candidate for Speaker of the U.S. House of Representatives in 2023. Additionally, he is a member of the Congressional Blockchain Caucus, Freedom Caucus, and Republican Study Committee.

Disclaimer: While we strive to estimate net worth accurately from filings, disclosure rules have shortcomings. Personal residences, certain personal property, and federal retirement accounts are often not reported. Large assets can be listed in broad categories like “Over $1 million” or “Over $50 million,” potentially worth much more. Likewise, state financial forms may omit residential property and liabilities like mortgages.

How did Byron Donalds’ make his money?

Here’s a summary of Donalds’ publicly known career choices and sources of income:

• Politics: Byron Donalds’ current position as a U.S. Representative from Florida comes with an annual salary of $174,000; 

• Finances and portfolio management: Donalds began his professional career in finances in 2003 as a credit analyst at TIB Bank, rising through the ranks to become an assistant vice president and credit manager. He left TIB Bank in 2007 to become a portfolio manager at CMG Surety and joined Wells Fargo Advisors in 2015, where he worked as a financial advisor;

• Business ownership: According to his financial report, Donalds’ has a stake in Onesto LLC, a consulting and business services company, worth between $500,001 and $1 million. Furthermore, his spouse has an ownership stake of over $1 million in Optima Ed, LLC, an education services company;

• Investing: A substantial portion of Donalds’ wealth comes directly from investing. In fact, Finbold’s Congress stock tracker has found that he directly owns dozens of stakes in public companies worth between $1,001 and $15,000 each.

Byron Donalds’ assets and liabilities

Byron Donalds’ net worth puts him among the moderately well-off representatives. Some of his most valuable assets included in his latest financial disclosure form are:

• Optima Ed, LLC, 81% Interest – a spouse-owned stake in an education services company  with an estimated value of over $1 million;
• Onesto LLC – a stake in a consulting and business services company with an estimated value of $500,001 – $1,000,000;
• FRS 2045 Retirement Fund – with an estimated value of $15,001 – $50,000;
• Numerous individual stock holdings worth between $1,001 and $15,000 each.

Insider trading involvement

In September 2024, Byron Donalds was accused of significant violation of the STOCK Act due to failing to disclose up to $1.6 million in stock trades. These trades took place in 2022 and 2023, both by Byron Donalds and his spouse, and the couple failed to report any of these, according to Campaign Legal Center (CLC).

Who is Byron Donalds?

Byron Donalds was born in Brooklyn, New York, on October 28, 1978. He is of Jamaican and Panamanian heritage. Donalds earned a degree in finance from Florida State University, and before entering politics, he worked in the banking and finance sectors. 

In 1997, he was charged with marijuana possession, but the charges were dropped. In 2000, he pleaded no contest to a theft felony for attempting to deposit a bad check. Ultimately, his record was sealed and expunged.

He served in the Florida House of Representatives between 2016 and 2020. Since 2021, he has been representing Florida in the U.S. House of Representatives. Known for his conservative views, Donalds advocates for limited government, free-market policies, and school choice. 

Donals is a member of several caucuses, including the House Freedom Caucus, and has been active on issues such as tax reform, deregulation, and law enforcement support. As a rising conservative Black politician, he has drawn attention as a potential candidate for higher office or party promotion.

The bottom line

Byron Donalds’ net worth, ranging between $1,527,064 and $2,966,000, puts him as the average member of Congress in terms of total wealth. While most of his net worth comes from business ownership, he has also committed stock trades that violated the STOCK Act more than 100 times in the past years. 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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