Tim James Walz is an American politician and a former public school teacher. He is the current governor of Minnesota and a presidential running of Kamala Harris. Tim Walz has built an illustrative career in public service and education. Unlike many politicians, Tim Walz’s net worth remains modest, estimated to be between $600,000 and $1 million, reflecting his background in public school teaching and public service.
His limited financial stature consists primarily of his salary as governor and state and federal pensions, contrasting sharply with other politicians with significant assets across the United States.
This article explores Walz’s net worth, his career background as a teacher and public servant, and his personal and family life.
Quick facts about Tim Walz’s net worth
| Full name | Timothy James Walz |
| Date of birth | April 6, 1964 |
| Place of birth | West Point, Nebraska, U.S |
| Net worth | Estimate between $600,000 to under $1 million as 2024 |
| Annual salary as Governor | $127,629 (refused to take an increase) |
| Primary assets | State and teacher pension plans |
| Spouse/ Children | Wife: Gwen WalzChildren: 2, including daughter Hope Walz |
| Current role | Governor of Minnesota/ Presidential Running Mate of Vice President Kamala Harris Harris (2024) |
| Previous roles | U.S. Congressman, High School Teacher |
| Military Service | U.S. Army National Guard for 24 years |
| Residence | Minnesota Governor’s Mansion |
| Key achievements | Former six-term Congressman, Coach, Educator |
An overview of Tim Walz’s net worth
As of 2024, Tim Walz’s net worth is estimated to be between $600,000 and $1 million. This puts him among the less wealthy political figures in the United States. Unlike most of his fellow politicians, Walz’s financial portfolio does not include stock holdings or real estate investments; his wealth primarily comes from teachers and state and federal pension plans.
His annual salary as Governor of Minnesota is only $127,629, the original amount set by the compensation council. The governor declined the 2008 pay rise that would bring his salary $149,550, a decision that greatly exemplifies his determination to lead a modest lifestyle. Walz’s financial disclosures show that he has accumulated substantial benefits from his pension plans of many years of service.
Walz’s career and background
Walz began his career as a public school teacher in Minnesota. He then spent over 20 years in the Army National Guard, rising to become a command sergeant major—the highest rank by any congressman who enlisted in the army.
His long career in public service, including his six terms in the United States Congress, earned him benefits like retirement savings from state and federal pension plans. However, his net worth remains modest by national political standards.
In 2018, Walz and his wife, Gwen Walz, sold their home in Mankato, Minnesota, and moved into the governor’s mansion. The couple has been living there since 2018, highlighting their simple lifestyles. The sale of their home contributed to the governor’s modest net worth. His financial disclosures reveal that Walz owns no major real estate property, assets, or investments.
Public service and political career
Walz joined the political arena in 2007 when he was elected to represent Minnesota’s First District in the U.S. House of Representatives. His time as a senator and now as governor of Minnesota has been marked by policies that benefit rural America and public service. Now, as the running mate of presidential candidate Kamala Harris, Walz’s financial stature and choices are under increased scrutiny.
At the Democratic National Convention, where Harris named Walz her running mate, his modest net worth became a point of discussion. While many candidates on the major party tickets are more wealthy, Tim Walz’s financial standing contrasted sharply with that of wealthier candidates, including that of his future boss, should they win the presidential elections.
Family and personal life
Tim Walz is married to Gwen Walz, who has been a steadfast partner in Walz’s personal and political journey. Gwen advocates for education and mental health and has been a key factor in policy discussions in Minnesota. The couple has two children, Hope Walz and Gus Walz.
While there’s not much known about the younger Gus Walz, Hope is currently going through college. The governor saves for his daughter Hope’s college education through a dedicated college savings plan.
The family lives in the governor’s mansion in Minnesota, a move they made in 2019 at the beginning of his term as governor. Walz sold his family home in Mankota before moving into the governor’s residence. Tim Walz speaks of the importance of family, mentioning his wife and children during speeches and public appearances.
