Gavin Newsom Net Worth

What is Gavin Newsom’s Net Worth and Salary?

Gavin Newsom, the current Governor of California, boasts a diverse background spanning politics, business, and investment. His career trajectory, from San Francisco’s City Hall to the state’s highest office, has been marked by both successes and controversies. This article delves into Gavin Newsom’s net worth, salary, and the multifaceted journey that has shaped his career.

Early Life and Career

Gavin Christopher Newsom was born on October 10, 1967, in San Francisco, California. His upbringing was influenced by his father, William Newsom, a prominent figure in the legal and financial realms. William Newsom served as a state appeals court judge and notably administered the multi-billion dollar Getty family trust, as well as the Gordon P. Getty Family Trust. This background provided Gavin with early exposure to the worlds of law, finance, and high society. His mother, Tessa Newsom, was married to William Newsom from 1966 to 1972.

Newsom’s educational journey began at Ecole Notre Dame Des Victoires, a French-American bilingual school. However, due to challenges with dyslexia, he later transferred schools. He then attended Redwood High School, where he participated in sports. He earned a Bachelor of Science degree in political science from Santa Clara University in 1989.

Newsom’s entrepreneurial spirit emerged early. In 1991, at the age of 24, he co-founded PlumpJack Associates L.P. with investors. This venture expanded into several businesses, including the PlumpJack Winery, which opened in 1992, and eventually encompassed restaurants, hotels, and retail clothing stores. These business ventures, which were valued at over $6.9 million in 2002, were divested when Newsom entered politics.

Political Career

Newsom’s political career began with his involvement in Willie Brown’s successful 1995 mayoral campaign in San Francisco. Brown, a seasoned politician, recognized Newsom’s potential and appointed him to the Parking and Traffic Commission, where Newsom later became president. In 1997, Brown further elevated Newsom by appointing him to the San Francisco Board of Supervisors. Newsom’s tenure on the Board laid the foundation for his future political aspirations.

Newsom’s political actions have been impactful. As Supervisor, he championed the reform of San Francisco’s municipal railway and supported housing projects through public-private partnerships. His most significant achievement during this period was the Care Not Cash initiative, a voter-approved measure that provided homeless individuals with essential services, including care, drug treatment, supportive housing, and behavioral health services. This initiative increased his public profile and established him as a mayoral candidate.

San Francisco Mayor

In 2003, Newsom was elected as the 42nd mayor of San Francisco, becoming the youngest mayor in a century at the age of 36. He was re-elected in 2007, winning with over 72% of the vote. His second term focused on addressing homelessness, improving healthcare, promoting environmental sustainability, enhancing housing options, and improving education. He also placed an emphasis on development projects on Treasure Island and Hunters Point.

During his tenure as mayor, Newsom initiated the San Francisco Homeless Outreach Team and Project Homeless Connect, which provided housing and affordable rental units to those experiencing homelessness. He garnered national attention in 2004 when he directed the city-county clerk to issue marriage licenses to same-sex couples, which defied state law at the time. Although the marriages were later annulled, this action brought substantial support to the LGBTQ community and helped lay the groundwork for the future legalization of same-sex marriage. In 2007, Newsom signed a law establishing Healthy San Francisco, offering universal healthcare to city residents.

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California Lieutenant Governor

After an unsuccessful run for governor in 2009, Newsom was elected as California’s Lieutenant Governor in 2010, serving under Governor Jerry Brown. He was re-elected in 2014. During his time as Lieutenant Governor, Newsom supported efforts to repeal the death penalty and was more successful in advocating for the legalization of cannabis in 2016 and the establishment of various education programs across the state.

Governor of California

In 2018, Gavin Newsom achieved his long-term ambition by winning the election for Governor of California, defeating Republican John H. Cox. Upon assuming office in 2019, he swiftly took actions, including ending the California death penalty and issuing pardons to individuals facing deportation. During his tenure, Newsom has pursued a progressive agenda, focusing on areas such as transgender rights, gun control, healthcare, and hydraulic fracturing. These measures drew both approval and criticism, depending on the political perspective.

Newsom faced a recall attempt early in his term, with the efforts gaining traction in 2020 amid criticism of his handling of the state’s response to the COVID-19 pandemic. Despite significant efforts to remove him from office, the recall election in 2021 failed, allowing Newsom to continue his work as governor.

Gavin Newsom and Nancy Pelosi: The Family Connection

While it’s a common misconception, Gavin Newsom is not the blood nephew of Nancy Pelosi. However, a close familial connection did exist decades ago. Here’s a breakdown:

• Nancy Pelosi has been married to Paul Pelosi since 1963.
• Paul Pelosi’s brother, Ron Pelosi, was married to Barbara Newsom from 1956 to 1977.
• Barbara Newsom is the sister of William Newsom, Gavin Newsom’s father.

Therefore, Nancy Pelosi was Gavin Newsom’s aunt’s sister-in-law, but not by direct blood relation.

Personal Life and Real Estate

Newsom’s personal life has also been a topic of public interest. He married Kimberly Guilfoyle, a former San Francisco prosecutor and conservative commentator, in 2001; they divorced in 2006. That same year, he began dating Jennifer Siebel, a film director. They married in 2008 and have four children together. Jennifer’s father, Ken Siebel, is a successful investment and real estate manager, and her second cousin is Thomas Siebel, the billionaire founder of Siebel Systems.

The Newsom family has resided in various properties reflecting their lifestyle. In 2011, they purchased a home in Kentfield, California, for $2.225 million, later selling it in August 2021 for $5.895 million. Following his election as governor, the family relocated from a home in Marin County to the California Governor’s Mansion in Sacramento. They have since settled in the Fair Oaks area.

In 2007, Newsom faced public scrutiny due to an affair with Ruby Rippey-Tourk, the wife of his then-campaign manager, Alex Tourk. Tourk subsequently filed for divorce and resigned from Newsom’s administration.