Senator JD Vance (R-Ohio) has emerged as Donald Trump's top pick for a running mate in the 2024 U.S. elections. Here's a look at Vance's net worth, vice-presidential salary prospects, and his diverse business activities:
JD Vance's Net Worth
As of 2024, JD Vance's net worth is estimated to be $5 million. This substantial figure is a result of multiple income streams, including his book sales, investments, and business ventures. Vance's memoir, Hillbilly Elegy, not only brought him national fame but also contributed significantly to his wealth. According to Business Insider, Vance reported earnings of $475,308 in 2021 from royalties. The book's success was further amplified by its adaptation into a Netflix film.
According to the Associated Press, in the two years following the publication of the book, Vance visited 18 colleges and universities to deliver commencement addresses, lectures, or political talks. He was paid over $70,000 for each of these engagements.
Furthermore, Vance's investments and other financial interests include:
- Huntington National Bank holdings: $250,000 – $500,000
- Robin Hood checking account: $100,000 – $250,000
- Five Goldman Sachs CDs: valued at a combined range of $500,000 and $1.05 million
- QQQ Exchange Traded Fund shares: $500,000 – $1 million
- 20+ Year Treasury Bond ETF shares: $100,000 – $200,000
- Bitcoin held through Coinbase: $100,000 – $250,000
- Walmart stock: $50,000 – $100,000
Potential Vice-Presidential Salary
The vice-president's salary is set by law and currently stands at $235,100 annually. While this salary is substantial, it is relatively modest compared to Vance's earnings from his private ventures. However, the influence and prestige of the vice-presidency could open up even more lucrative opportunities for Vance in the future, including speaking engagements, book deals, and consulting roles.
Business Ventures and Investments
Following his graduation from Yale Law School, Vance worked in venture capital, where he developed a keen interest in technology and startups. He joined Mithril Capital, a venture capital firm co-founded by Peter Thiel, where he honed his skills in identifying and nurturing innovative companies.
In addition to his role at Mithril Capital, Vance co-founded Narya Capital in 2020, a Cincinnati-based venture capital firm. Narya Capital focuses on investing in early-stage startups across various sectors, including technology, healthcare, and consumer goods. The firm has raised significant funds and made strategic investments in promising startups.
Vance has also been involved in real estate investments, leveraging his knowledge of market trends to make profitable deals. These investments have diversified his income sources and contributed to his overall net worth.
Political Aspirations and Influence
Vance's financial success has provided him with a platform to influence public policy and political discourse. His political career took off with his election to the U.S. Senate, where he has been an outspoken advocate for issues such as economic revitalisation, opioid crisis management, and educational reform. Vance's financial independence has allowed him to focus on these issues without the pressure of relying solely on a political salary.
Vance's close relationship with former President Donald Trump has positioned him as a critical figure in the Republican Party. His selection as Trump's running mate in the 2024 presidential election further cements his rising influence and political clout. If he becomes vice-president, Vance will likely leverage his business experience to advocate for policies promoting economic growth and innovation.
JD Vance's journey from a humble background to a prominent political figure and successful entrepreneur is a testament to his determination and acumen. However, Vance's story isn't just about financial success; it is about leveraging that success to make a meaningful impact on society. As the 2024 presidential election approaches, all eyes will be on him to see how his financial and political journeys unfold.
