Ron Johnson is an American businessman and politician who has served as the senior United States Senator from Wisconsin since 2011. Before entering politics, he was the CEO of PACUR, a polyester and plastics company. Today’s article will estimate Ron Johnson’s net worth and uncover the sources of his significant wealth.
What did Ron Johnson do before he was a senator?
Ron Johnson attended Edina High School and graduated from the University of Minnesota with a bachelor’s degree in business and accounting in 1977. As a child, Johnson took numerous job opportunities, such as newspaper delivery, working as a caddy at a golf course, farming work, and dishwashing.
In 1979, Johnson and his wife moved to Oshkosh, Wisconsin, where he got a job at his wife’s family plastics company. PACUR, the company’s name, was short for “Pat Curler,” his wife’s brother. PACUR was created by Howard Curler, the then-CEO of Bemis Company (NYSE: BMS). After Pat Curler left PACUR in the mid-1980s, Johnson became its CEO and occupied the role until he was elected senator in 2010.
Johnson’s business endeavors made him a millionaire even before he was elected to the Senate. Compared to his various investments, the politician’s salary is only a fraction of his fortune.
What is Ron Johnson’s net worth?
Disclaimer: Estimating a lawmaker’s net worth is challenging because disclosure forms do not mandate exact values. Instead, lawmakers report the value of their assets and liabilities within specified ranges. While we strive to accurately estimate net worth 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. Additionally, most Members of Congress earn $174,000 annually, but this isn’t required to be disclosed.
How did Ron Johnson make his money?
Ron Johnson’s net worth came directly from the following sources of income:
- Positions at PACUR, LLC: Johnson was listed as the co-founder of PACUR, a plastics company, ultimately becoming its CEO, the title he gave up only once he was elected senator. According to Yahoo Finance, in 2020 alone, he received over $5 million in income from the company. The same year, he would sell it for somewhere between $5 million and $25 million;
- Politician’s salary: Compared to the previous sum, his annual salary of $174,000 as a senator is hardly worth mentioning;
- Rental income: Ron and Jane Johnson own commercial rental real estate in Wisconsin, estimated to be worth between $5,000,001 and $25,000,000. They collect a yearly income of $100,001 – $1,000,000 in rent;
- DP Lenticular, Ltd: The senator has a 9.9% ownership stake in DP Lenticular, which provides him with an annual income of $100,001 – $1,000,000 in dividends;
- Charles Schwab & Co: Ultimately, the Johson couple maintains somewhere between $5,000,001 and $25,000,000 in bank deposits.
Insider trading involvement
Ron Johnson has found himself under fire with demands that he resign as a senator in 2020 for dumping shares in PACUR, his family company, before the COVID-19 pandemic. Reportedly, the senator was persuaded to sell after getting insider information about the dangers of the new virus.
Who is Ron Johnson?
Ron Johnson was born in Mankato, Minnesota on April 8, 1955. He worked various menial jobs before graduating from the University of Minnesota and moving with his wife to Wisconsin. He would occupy one of the leading positions in the family plastics company, PACUR, and start accumulating his enormous wealth there.
A member of the Republicans, he would be elected to the U.S. Senate in 2010. Decisively conservative on most issues, Johnson has focused on fiscal policy, healthcare, and immigration. He strongly advocated limiting the government, reducing government spending, and repealing Obamacare.
Johnson has been a staunch supporter of Donald Trump, launching investigations into his political opponents and promoting the fraudulent 2020 presidential elections theory. Among other controversies, he also denied the human causes of climate change and spread misinformation about the COVID-19 pandemic.
Recommended video: ‘Stop Scaring The You-Know-What Out Of Children’: Ron Johnson Has Message For ‘Environmental Left’
Ron Johnson’s net worth – the bottom line
Being frequently placed among the ten richest U.S. senators, Ron Johnson’s net worth is estimated to be somewhere between $18.35 million and $87.865 million. Such wealth does not come without downsides in politics, as he has been frequently accused of striving to cut down taxes on his big company benefactors and his own family business.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
