How rich is the Governor of Minnesota: Tim Walz’s net worth revealed

Tim Walz is an American politician who has served as the Governor of Minnesota since 2019. He is a retired teacher and a former non-commissioned officer in the U.S. Army National Guard with 24 years of military service. A member of the Democratic–Farmer–Labor Party (DFL), he has been pointed out as a possible VP for Kamala Harris in her 2024 presidential campaign. Today, we will reveal Governor Tim Walz’s net worth and trace back his sources of income.

How rich is Tim Walz?

Walz attended Butte High School and graduated in 1982. He attended Chadron State College and graduated with a B.S. in social science in 1989. In 2001, he obtained an M.S. in educational leadership from Minnesota State University, Mankato.

After graduating from high school, he worked in agriculture and manufacturing before serving in the National Guard. He then spent a year teaching in China via WorldTeach. Afterward, he taught in Alliance, Nebraska, before moving to Mankato, Minnesota, with his wife and taking a geography teaching and coach position at Mankato West High School. 

At 17, Tim Walz enlisted in the Army National Guard, where he served for 24 years. Having trained in heavy artillery, he had various postings, and was deployed overseas on active duty, although he never saw combat. He reached the rank of command sergeant major but retired as a master sergeant. He bears the Army Commendation Medal and two Army Achievement Medals. 

The first step in his political career was being elected to the U.S. House of Representatives in 2006. In 2018, he won the election for Governor of Minnesota and assumed the role in January 2019. 

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 Tim Walz make his money?

In addition to politics, Walz had a diverse career spanning teaching and military service. His public sources of income have included:

• Army National Guard: Tim Walz spent 24 years in the U.S. Army’s National Guard. He had been deployed overseas but had not seen active combat. Ultimately, he gained the rank of command sergeant major but retired as a master sergeant in 2005;
• Teaching: Walz has a Master of Science in educational leadership from Minnesota State University, Mankato, and has spent years as a high school teacher and a coach, first in Nebraska, then in Minnesota;
• Politics: As the Governor of Minnesota, Tim Walz is entitled to an annual salary of $149,550. However, he has declined the cost of living increase since he assumed the position and chose to receive $127,629 per year.

Tim Walz’s assets

Walz’s 2023 statement of economic interest states that he does not own any businesses, real estate, or securities. However, his last financial disclosure form as a U.S. Representative reveals the value of his residential home and the associated mortgage:

• Mankato, Minnesota Home residence – a residential property valued between $250,001 and $500,000 (in 2017);
• Cenlar Homestead Mortgage – a financial liability on a personal residence valued between $250,001 and $500,000 (in 2017).

Disclaimer: The values are derived from the last financial disclosure form from 2018. Although Governor Tim Walz has not acquired new assets or liabilities, the value of the two listed here may have changed.

Insider trading involvement

Since 2008, as a U.S. Representative, Tim Walz strongly supported the introduction of the Stop Trading on Congressional Knowledge (STOCK) Act, which prohibits the use of private information for personal gain, such as insider trading. The bill was enacted in 2012.

Who is Tim Walz?

Timothy James Walz was born in West Point, Nebraska, on April 6, 1964. He holds a B.S. in social science education from Chadron State College and an M.S. in educational leadership from Minnesota State University, Mankato.

Before entering politics, Walz was a high school teacher and a coach. He has also spent 24 years in the Army National Guard, achieving the rank of Command Sergeant Major and retiring as Master Sergeant in 2005.

A member of the Democratic-Farmer-Labor Party, he served as the U.S. Representative for Minnesota between 2007 and 2018, advocating veterans’ issues, education, and agriculture.

In 2019, Tim Walz became the Governor of Minnesota. During his tenure, his focus on healthcare, education, and infrastructure reflected his moderate stance. He came into the spotlight for handling the COVID-19 pandemic, including firm measures to halt the virus’ spread. 

Media have reported he might be a candidate for Kamala Harris’ 2024 presidential campaign, but the rumors have yet to be confirmed as of July 31, 2024.

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The bottom line

The Governor of Minnesota has maintained his modest financial status as a U.S. Representative. Although there is no precise figure on his current net worth, it is safe to assume that it remains approximately $13,500, which makes him one of the poorest elected officials in the United States.

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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