What Is Elizabeth Warren Net Worth In 2020?
|Net Worth:||$8 Million|
|Date of Birth:||Jun 22, 1949 (71 years old)|
|Profession:||Professor, Writer, Lawyer, Author, Politician|
|Nationality:||United States of America|
Elizabeth Warren’s net worth is about million
Running for President: that's what girls do. pic.twitter.com/Lgmo0pF4LL
— Elizabeth Warren (@ewarren) February 13, 2019
In a Congress packed with millionaires, Warren hardly ranks as one of America’s richest politicians. She’s No. 69 on Roll Call’s list of wealthiest members of Congress. Still her estimated net worth of $4.7 million puts her far ahead of the average American, who is worth less than $100,000.
According to Roll Call, most of Warren’s wealth comes from investments. But the website’s estimate doesn’t appear to include the value of her home in Cambridge, Massachusetts. In 2015, CNN estimated that the three-story Victorian was worth $1.9 million.
Elizabeth Warren, the U.S. Senator, former Harvard law professor, and celebrated “antagonist in chief” of President Donald Trump, is competing in a crowded field of 2020 Democratic president candidates that includes Kamala Harris, Cory Booker, Amy Klobuchar, Kirsten Gillibrand — and possibly dozens of others.
Warren is often branded as a member of the Northeast liberal elite. But the 69-year-old Senator from Massachusetts comes from a working-class family in Oklahoma, and she has spent most of her career trying to protect consumers against corporate greed and fraudulent financial products. At the same time, Elizabeth Warren herself is quite wealthy: She lives in a home estimated to be worth $2 million, and she has collected well over $1 million in book advances and royalties.
Elizabeth Warren net worth
Elizabeth Warren’s net worth amounts to a consensus $8.75 million in 2019, a figure that is based on various financial statements, most notably the release of her federal tax returns — 10 years in total through 2018.
In 2017, for example, Sen. Warren listed an annual growth income of $913,000 (combined with her husband, who is a Harvard University professor). $174,000 of that figure came from her job as a U.S. senator, while $430,000 came from her work as a top-selling author.
In 2018, she listed total household income of $905,742, with $324,687 listed as business income — again, mostly from her book-writing earnings. Sen. Warren also listed her $175,000 Congressional earnings, along with her husband’s $400,000 salary from Harvard University.
It’s also worth noting that Warren puts her money where her mouth is on sharing the wealth — a tenet she’s pushing in her 2020 presidential run. In 2017, she and her husband donated $882,000 to charity, about 9% of her yearly earnings.
The Warrens donated $50,000 to charity in 2018.
Where did Warren’s money come from?
Warren came from humble beginnings. She was born in Oklahoma in 1949 and has said she spent her childhood “the ragged edge of the middle class.” After her father had a heart attack, her mother went to work in the catalog department at Sears, while Warren got her first job at age 13 waiting tables at her aunt’s restaurant.
Warren was the first member of her family to go to college, earning a degree in speech pathology. She enrolled in law school after the birth of her two children, and eventually became interested in bankruptcy law. Later, she became a law professor, teaching at the University of Houston, the University of Michigan, and other schools before finally settling at Harvard University.
Warren’s second husband, Bruce Mann, is also a Harvard law professor. Harvard has the highest-paid professors in the U.S., with an average salary of nearly $200,000 a year. That likely helped them amass a considerable amount of wealth. She’s also written several best-selling books.
Elizabeth Warren’s Senate salary
Warren was elected to the Senate in 2012. As a U.S. senator, she earns $174,000 a year, meaning she likely took a pay cut to serve in public office.
However, Warren and her husband are still bringing in a sizable income. The couple earned close to $1 million in 2017, according to their tax returns. That includes Warren’s Senate salary and her husband’s earnings as a Harvard professor, as well as the $430,379 in gross income she made from her writing. Her most recent book is This Fight Is Our Fight: The Battle to Save America’s Middle Class, published in 2017.
Warren and her husband also gave close to $82,000 to charity last year. They paid $302,000 in taxes.
Warren has released her tax returns dating back to 2008. Over those years, her income has ranged from a low of $424,993 (in 2012) to a high of $1.6 million (in 2014).
Warren’s Political Career
Yesterday I made a big announcement: I’m running for President. Our fight is for big, structural change – and this is the fight of our lives. I hope you'll join us. pic.twitter.com/sU5kpwUiOg
— Elizabeth Warren (@ewarren) February 10, 2019
So, how did a law teacher like Elizabeth Warren get into politics? After rising in the ranks of law professors, Warren began increasingly speaking out on behalf of low-income and middle-income Americans who could not afford health care and who faced bankruptcy. This soon led her to a new career in politics. Her national profile grew during the late 2000s after her forceful public stances in favor of more stringent banking regulations after the 2007–2008 financial crisis.
During this financial crisis, Harry Reid asked Elizabeth to serve as Chair of the Congressional Oversight Panel and provide oversight of TARP, the Wall Street bailout. She fought to protect taxpayers, hold Wall Street accountable, and ensure oversight of the Bush and Obama Administrations.
In 2013, Elizabeth Warren became a U.S. senator from Massachusetts. She was sworn in by Joe Biden (net worth $9 million). Warren is also a top candidate for the 2020 presidential campaign – she raised $24.6 million in fundraising money in the third quarter of 2019. That’s more than any other Democratic candidate, aside from Bernie Sanders (net worth $3 million).
Money-wise, Elizabeth makes around $172,000 yearly from her senator’s salary. Plus, she has additional sources of income from books.
This is how Elizabeth Warren thinks you should budget your money
Warren’s worth millions now, but she hasn’t forgotten what it’s like to be on the financial edge. In 2006, she and her daughter, Amelia Warren Tyagi, co-authored a personal finance book, All Your Worth: The Ultimate Lifetime Money Plan. In it, the pair made the case for a simple budgeting strategy: the 50-30-20 budget.
With this budget, 50% of your income goes to need, like rent, food, and minimum payments on loans. Thirty percent of your income is allocated to nonessentials, like meals out, travel, and entertainment. The final 20% of your income goes to savings and debt payments. Those savings could save the day when times get tough, she says.
“I got married when I was 19, and my mother-in-law took me aside and said, ‘You always need walking-out-the-door money,’’ Warren told Elle in 2016. Ten years later, when she divorced her first husband, that money was a lifesaver.
“When any hard hit comes—whether it’s divorce, a medical problem, someone in your family has an emergency—having savings means there are options,” she said. “Having debt means you’re already flat against the wall, and now it’s just going to get harder.”
What Does Elizabeth Warren Do For a Living?
It’s easy to wonder how Warren has created millions of dollars over the past few years. She made the majority of her money in the past fifteen years, primarily as a law teacher, author, and senator.
Although Elizabeth and her husband do make generous salaries, most of their wealth is in retirement accounts and real estate investments. Who is Elizabeth Warren’s husband? Bruce Mann and Elizabeth have been married for over 40 years. Like Elizabeth, Bruce is a law professor at Harvard.
The Takeaway on Elizabeth Warren’s Net Worth
If you ask most people how to make $10K a month or more, you’re likely to hear advice steering you toward becoming a doctor or lawyer. There’s this persistent perception out there that says professional careers are both lucrative and secure. While those career paths certainly can bring with them hefty paychecks, they come with equally hefty school loans and a considerable investment of time.
Entering politics is one way to create change in the world. But we believe owning a business, creating products, and serving people is a far more satisfying, direct, and accessible route. In fact, many of the most successful entrepreneurs we know started with less than $1,000. If you’d like to see how they did it, check out this free training.
In 1995, Elizabeth and Bruce paid $447,000 for a 4,000 square-foot home in Cambridge, Massachusetts. Today Zillow estimates that the house, which was built in 1691, is worth at least $3.15 million, but recent similar homes have sold for $4 million+.
In 2013, Elizabeth and Bruce paid $740,000 for a two-bedroom condo in Washington D.C. that is 1,400 square-feet. Zillow estimates this property is worth around $915,000 today.