As United States Secretary of Transportation, Pete Buttigieg’s net worth is a topic of great interest. In this piece, we explore his personal wealth, including his assets and investments, as well as all other relevant financial information.
Who is Pete Buttigieg?
Pete Buttigieg gained national attention during his 2020 presidential campaign. Before stepping onto the national stage, he served as the mayor of South Bend, Indiana, from 2012 to 2020. Buttigieg’s educational background is impressive, with a degree from Harvard University and a Rhodes Scholarship to study at Oxford University.
Buttigieg’s career encompasses military service as a Navy Reserve officer, where he deployed to Afghanistan in 2014, and various roles in the private and public sectors. In 2021, President Joe Biden appointed him as the Secretary of Transportation, making him the first openly gay Cabinet member in US history to be confirmed by the Senate.
Military service
What is Pete Buttigieg’s net worth?
Forbes reported back in 2019 that Pete Buttigieg’s net worth was around $100,000. However, based on his 2023 financial disclosure report, he’s actually worth somewhere in between -$706,990 and –$100,004. The figures are negative due to his reported liabilities exceeding his total assets.
Disclaimer: Estimating a member of the Cabinet of the United States’ net worth is challenging because disclosure forms do not mandate exact values. Instead, he reports the value of his 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, the Secretary of Transportation earns $221,400 annually, but this isn’t required to be disclosed.
How did Pete Buttigieg make his money?
Pete Buttigieg’s income sources are diverse, reflecting his varied career.
- Government salaries: Buttigieg earned a substantial income during his tenure as mayor of South Bend and continues to draw a significant salary as the Secretary of Transportation;
- Book deals: His books, including Shortest Way Home and Trust: America’s Best Chance, have contributed to his earnings through advances and royalties;
- Speaking engagements: Buttigieg commands high fees for speaking engagements, leveraging his national recognition and political insight;
- Military service: Although not a major source of wealth, his service in the Navy Reserve provided additional income;
- Consulting and private sector roles: Before his mayoral role, Buttigieg worked at McKinsey & Company, where he earned a competitive salary.
Pete Buttigieg’s assets
According to Pete Buttigieg’s 2023 financial disclosure report, his assets total between $73,010 and $270,000, with liabilities that range from $370,004 and $780,000. Out of all of his assets, Buttigieg and his spouse’s most valuable ones include:
- Bank deposit worth between $50,001 and $100,000;
- Credit union deposit worth between $15,001 and $50,000;
Controversies
Despite his generally positive public image, Pete Buttigieg has faced certain controversies. Namely, during his presidential campaign, some criticized his consulting work at McKinsey & Company, questioning the ethics of the projects he worked on. His handling of police-community relations in South Bend also drew scrutiny, particularly concerning the firing of the city’s first African American police chief.
The bottom line
Although uncommon for a public official of such high ranking, Pete Buttigieg’s net worth is negative, ranging from -$706,990 and –$100,004. Of course, this is due to his high liabilities that exceed the overall value of his total assets.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about Pete Buttigieg’s net worth
How much does Pete Buttigieg make?
Pete Buttigieg makes $221,400 (as of 2024) as the secretary of transportation for the United States.
Does Pete Buttigieg have any significant investments?
Buttigieg does not have substantial investments in stocks or businesses. His primary assets include his home in South Bend and retirement savings.
What was Pete Buttigieg's salary as the mayor of South Bend?
During his tenure as mayor, Buttigieg earned an annual salary of $112,000.
Has Pete Buttigieg faced any financial controversies?
While Buttigieg has faced controversies related to his work and policies, there have been no significant financial controversies directly tied to his personal finances.
