Steve Bannon Net Worth

Steve Bannon’s Net Worth: A Deep Dive into His Career and Controversies

Introduction: Who is Steve Bannon?

Stephen Kevin Bannon, known as Steve Bannon, is a prominent figure in American media and politics. He has made a significant impact through his roles as a media executive, political consultant, and strategist. But what is Steve Bannon’s net worth, and how has he amassed his wealth? This article delves into the details of his career, financial dealings, controversies, and lasting impact on the political landscape.

Early Life and Career Beginnings

Born on November 27, 1953, in Norfolk, Virginia, Steve Bannon’s early life set the stage for his future endeavors. He attended Benedictine College Preparatory, a Catholic military school, and later studied at Virginia Tech, where he earned a degree in urban planning. After graduating, Bannon served as an officer in the U.S. Navy for seven years, during which time he obtained a master’s degree in national security studies from Georgetown University and an MBA from Harvard Business School. These experiences provided him with a strong foundation in both strategy and finance.

Following his military service, Bannon entered the world of investment banking at Goldman Sachs, specializing in mergers and acquisitions. He later moved to Los Angeles to expand the company’s presence in the entertainment industry. In 1990, he co-founded Bannon & Co., a boutique investment bank. Alongside his financial work, Bannon became involved with the earth science research project Biosphere 2, serving as its director.

The Rise in Media: Breitbart and Beyond

Bannon’s media career began in the early 1990s. He executive produced several Hollywood films, including “The Indian Runner” and “Titus.” In 2002, he partnered with entertainment executive Jeff Kwatinetz at The Firm, Inc. He also produced a documentary about Ronald Reagan, which led him to conservative journalist Andrew Breitbart. Bannon went on to finance and produce several controversial projects, including “The Undefeated” and “Occupy Unmasked.” From 2007 to 2011, he served as CEO and chair of Affinity Media. He was also a vice president of the board of Cambridge Analytica.

Bannon’s most significant role in media was as a founding member and executive chairman of Breitbart News, a far-right website known for its provocative and often inflammatory content. He held this position from 2012, returning briefly in 2017 after leaving his role in the White House. His association with Breitbart significantly amplified his influence within conservative circles.

Political Career: Trump’s Strategist and Beyond

Bannon’s political career gained momentum in August 2016, when he was appointed chief executive of Donald Trump’s presidential campaign. Following Trump’s election, Bannon became his chief strategist and senior counselor. He was a key figure in shaping the administration’s policies and was central to the creation of the controversial executive order restricting travel from several Muslim-majority countries. However, he was removed from his role in April 2017, and he officially left the White House in August.

After leaving the White House, Bannon engaged in global political activities, aiming to build a network of far-right political groups across Europe. In 2020, he faced charges related to a crowdfunding campaign for a wall on the US-Mexico border, though he was later pardoned by Trump.

Financial Dealings and Controversies

Steve Bannon’s net worth of $20 million reflects his diverse income streams. A 2017 financial disclosure revealed that he earned several hundred thousand dollars in 2016 as a consultant for various conservative media organizations. His consulting firm, Bannon Strategic Advisors Inc, was valued between $5 million and $25 million. Additionally, Bannon held bank accounts with as much as $2.25 million and real estate rental property worth up to $10.5 million.

One notable financial venture involved Bannon’s acquisition of an estimated 1% of the syndication profits of the TV show “Seinfeld” in 1993. When Seinfeld entered syndication in 1995, Bannon’s stake generated approximately $33 million in dividends over two decades.

In August 2020, Bannon was arrested on a yacht owned by Chinese billionaire Guo Wengui, a controversial figure wanted in China. The arrest was linked to the “We Build the Wall” charity, where Bannon and several associates were accused of diverting funds for personal use.

Legal Battles and Contempt of Congress

Bannon’s career has been marked by legal challenges. In August 2020, he was arrested and charged with conspiracy to commit mail fraud and money laundering in connection with the “We Build the Wall” campaign. He pleaded not guilty and was later pardoned by then-President Donald Trump. In September 2021, Bannon was subpoenaed by the House Select Committee investigating the January 6, 2021 attack on the US Capitol. When he refused to comply with the subpoena, he was held in contempt of Congress. The House of Representatives voted to refer him to the Justice Department for potential prosecution.

Political Views and Personal Life

Steve Bannon is known for his strong political views, particularly his opposition to immigration, climate change denial, and support for populist and authoritarian movements both in the United States and in Europe. His political ideology has made him a polarizing figure, praised by some and criticized by others.

Bannon has been married and divorced multiple times. His first marriage was to Cathleen Suzanne Houff, with whom he has a daughter. He married Mary Louise Piccard in 1995 and had twin daughters, divorcing in 1997. Bannon married Diane Clohesy in 2006 and divorced in 2009.

Conclusion

Steve Bannon’s net worth of $20 million is a testament to his successful career as a media executive, investment banker, and political strategist. His influence on American politics is undeniable, and his career has been marked by controversies and legal challenges. Whether admired or reviled, Steve Bannon remains a significant and influential figure.