Michael Richard Pence is an American politician and lawyer with an illustrious career in the public and private sectors. He was the 48th vice president of the United States under President Donald Trump between 2017 and 2021.
As of 2024, Mike Pence’s net worth is estimated to be $4 million. This article explores Mike Pence’s financial portfolio, income streams, assets, and investments.
Mike Pence bio
| Full name | Michael Richard Pence |
| Date of birth/ age | June 7, 1959 / 65 years old |
| Place of birth | Columbus, Indiana |
| Family | Wife: Karen Pence (married in 1985)Children: Audrey Pence, Charlotte Pence Bond, Michael Pence |
| Education | Hanover College (BA in History), Indiana University School of Law (JD) |
| Political Party | Republican Party |
| Religion | Evangelical Christian |
| Political career | U.S. House of Representatives (2001–2013), Governor of Indiana (2013–2017), Vice President (2017–2021) |
| Net worth | Estimated at $4 million in 2024 |
Early life and education
Mike Pence was born on June 7, 1959, in Columbus, Indiana. He was one of six children of Edward Pence and Nancy Pence. He grew up in a close-knit Irish Catholic family that emphasized faith and hard work. His parents instilled Midwestern values, teaching the children the importance of community involvement as they grew up, influencing Pence’s personal and political ideologies.
Pence attended Columbus North High School, where he developed an interest in leadership and public speaking. He admired President John F. Kennedy from an early age, influencing his early alignment with the Democratic Party. However, he abandoned this stance in college, as it did not align with his faith.
After high school, Pence enrolled at Hanover College, a liberal arts institution in Indiana to study history, graduating in 1981 with a bachelor’s degree. While in college, he underwent a spiritual transformation that saw him convert from catholic to evangelical Christianity. At Hanover, Pence was known for his articulate communication skills and his unique ability to engage in thoughtful debates, skills that would serve him well in his future political career.
After Hanover, Pence enrolled at the Indiana University School of Law and graduated in 1986 with a Juris Doctor degree. During college, Pence focused on mastering constitutional law and governance. It was in law school where he met his future wife, Karen. The two married shortly after graduation.
Early career
After law school, Pence briefly worked as an attorney in the private sector before venturing into media. He hosted a conservative radio talk show and a weekly public affairs TV show on an Indianapolis station.
Pence’s political career started in 2000 when he won a seat in the United States House of Representatives before several unsuccessful runs for Congress. He served in the House of Representatives until 2013, during which he was known for his firm conservative views and his involvement with the Tea Party Caucus.
Mike Pence’s tenure as Vice President
Mike Pence’s net worth dramatically changed in 2016 when President Donald Trump picked him as his running mate. The duo won the elections, and Pence was inaugurated into the office of U.S. Vice President in 2017. As Vice President, Pence earned an annual salary of $235,100, significantly changing his financial situation.
His tenure in office was marked by his involvement in several high-profile events and tasks, including chairing the National Space Council and overseeing the White House Coronavirus Task Force during the pandemic. While his financial portfolio was stable, Pence’s net worth was greatly tied to his public service salary and modest investments.
Mike Pence’s income sources and financial background
Mike Pence has built his wealth from multiple streams of income, including his public service salaries to investments and book deals, which bring in the largest portion of his net worth. In 2021, he published So Help Me God, which is reported to have earned him $1.4 million in advance.
Additionally, the former vice president makes millions of dollars from speaking engagements. In 2022 alone, he reportedly made $3.2 million from 32 speaking appearances. Reports show that the former vice president has made over $ 7 million since 2022 from book deals and speaking appearances.
His time in public office also provided him with substantial federal and state pensions, which pay him a combined total of $85,000 annually.
Assets and investments
Despite his illustrious public service career, Mike Pence does not have large real estate holdings and investments. His largest investment was with Kiel Bros. Oil Co., and Indiana gas station and convenience store company. However, the company crumbled in 2005 and left Pence with a $600,000 debt. He reportedly held between $200,000 and $450,000 shares in the company.
He holds around $65,000 in index funds and has less than $15,000 in his bank account. These modest assets suggest Pence’s wealth has been built mostly from his public salaries and income from book deals and public speaking engagements rather than from investments or entrepreneurial ventures.
Mike Pence’s net worth
As of 2024, Mike Pence’s net worth is estimated at $4 million. His wealth is based on his salary as governor of Indiana, his earnings from the vice presidency, public pensions, and earnings from his speaking appearance and book deals.
His net worth significantly increased in recent years, particularly thanks to the income generated from his 2021 book, So Help Me God, and the high-profile speaking appearance that followed his vice presidency.
Financial controversies and criticisms
While former Vice President Mike Pence has not been involved in financial scandals, his career has not been smooth. As governor of Indiana, he signed the Religious Freedom Restoration Act, which sparked nationwide backlash from LGBTQ+ activists, and the business community. In the wake of the controversies, the legislation was revised to include protections against gender identity and sexual orientation.
Pence also faced scrutiny during his vice presidency, especially during the January 6 Capitol riots. Donald Trump asked him to overturn the 2020 presidential election results. Pence refused to comply and even followed with the certification of the Electoral College results. This action put him at loggerheads with the president and his supporters, adding another layer of controversy to his political career.
Post-Vice Presidency ventures and advocacy
After leaving office in 2021, Pence shifted his focus to writing, high-profile speaking appearances, and advocating for conservative causes. His book, So Help Me God, is one of his biggest post-vice presidency successes. This, plus speaking engagements, has added millions of dollars to his overall net worth.
Some of the high-profile events Pence appeared at include the Long Island Association’s fall luncheon, where he shared his opinion and insights regarding the economy and the 2024 elections.
His advocacy involvements are centered around conservative causes, economic development, and public relations.
