Mayor Pete is a financially comfortable Midwesterner, but one of the least wealthy 2020 presidential hopefuls by ChaseWithorn
“I actually live in a middle-class lifestyle, in a middle-class neighborhood, in the American Midwest,” Pete Buttigieg recentlyestimates that Buttigieg has built a net worth of about $100,000, largely thanks to his six-figure salary as mayor of South Bend, Indiana—making him a financially comfortable Midwesterner, but one of the least wealthy 2020 presidential hopefuls.
His earnings have bounced up and down over the past decade. In 2010, Buttigieg left his high-paying consulting job with McKinsey & Company to run full-time for treasurer of his home state of Indiana. His yearly earnings plummeted from $150,000 to $34,000, according to his tax returns. He lost that race and then decided to run for mayor of South Bend. His income fell further, to just $7,000 in 2011, propped up only by his 2009 decision to enlist in the U.S. Navy Reserve.
Buttigieg has funneled those mayoral earnings—plus a $30,000 chunk of his book advance—into a portfolio of cash and investments, including Google and Apple stock, worth between $87,000 and $300,000, according to aBut his single largest asset is his home. When he returned to Indiana a decade ago, Buttigieg shelled out $125,000 for a vacant, 2,500-square-foot neoclassical house in the neighborhood where he grew up.
Last year the couple earned nearly $153,000. And 2019 is shaping up to be their highest-earning year to date, since Buttigieg got the remaining $45,000 of his book advance, and royalties from, which was published in February, have started to flow. But their six-figure days may be nearing an end. Chasten resigned from his teaching job earlier this year, and when Mayor Pete’s final term expires at the end of the year, he may once again find himself unemployed while seeking office.
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