Tax returns show California’s Newsom earning between $1.7 million and $2 million annually
Summary
Governor Gavin Newsom and his wife earned between $1.7 million and $2 million each year from 2022 to 2024, paying about half a million dollars annually in taxes. They released over 700 pages of tax documents, showing steady income mainly from their business ventures, as Newsom prepares to leave office and may run for president in 2028.Key Facts
- Gavin Newsom and his wife made between $1.7 million and $2 million annually from 2022 to 2024.
- They paid about $500,000 in federal and state taxes each year during that period.
- Their income has been mostly steady since Newsom became governor in 2019, except in 2021 when they earned $4.2 million due to a house sale.
- Newsom’s reported income as governor is about $200,000 per year; most income comes from wineries and restaurants placed in a blind trust.
- The PlumpJack Group, a company owned by Newsom, runs wineries and restaurants and is managed by his sister and cousin.
- Jennifer Siebel Newsom, his wife, is a film director who lost money on her production company, Girls Club Entertainment.
- The family spends between $14,000 and $44,000 yearly on childcare for three of their four children.
- They donate $40,000 to $65,000 annually to charity, including clothing and items for nonprofits.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
