Net Worth Ranker
What Is Gavin Newsom’s Net Worth?
Gavin Newsom, an American politician and investor currently serving as the 40th Governor of California, boasts a net worth of $30 million. This figure, while substantial, is notably influenced by the financial standing of his wife, Jennifer Siebel Newsom, whose family possesses significant wealth stemming from her father, Ken Siebel, a highly successful investment manager. While the precise extent of the Siebel family fortune remains undisclosed, it is considered a primary contributor to the couple’s overall net worth.
Gavin Newsom’s Career and Business Ventures
Newsom’s career trajectory is marked by a blend of political service and entrepreneurial endeavors. His political journey began with an appointment to the San Francisco Board of Supervisors in 1997, followed by his election as the 42nd Mayor of San Francisco in 2003, becoming the city’s youngest mayor in a century. He secured reelection in 2007. Subsequently, he served as the 49th Lieutenant Governor of California, starting in 2010. In 2018, he successfully ran for Governor of California.
Beyond his political career, Newsom has a track record as a co-founder of at least 11 businesses. In 1991, at the age of 24, he partnered with investors to establish PlumpJack Associates L.P., which later led to the creation of PlumpJack Winery in 1992. By 2002, his business holdings were valued at over $6.9 million. However, to avoid conflicts of interest, Newsom divested his ownership in his San Francisco businesses upon assuming the mayorship in 2004.
His early business ventures extended beyond PlumpJack Winery. From 1993 to 2000, Newsom and his investors expanded their portfolio to include restaurants, hotels, and retail clothing stores. While specific revenue figures for each individual business during this period are not publicly available, the collective value of his holdings by 2002 suggests substantial financial success.
Before entering politics, Gavin gained media exposure by hosting “The Gavin Newsom Show” on Current TV. While salary details from his time at Current TV are not publicly available, this role further amplified his public profile.
Early Life, Education and Family Background
Born on October 10, 1967, in San Francisco, California, Gavin Christopher Newsom’s family background also played a significant role in his life. His father, William Newsom, served as a state appeals court judge and administrator of J. Paul Getty’s multi-billion-dollar Getty family trust. William also managed the Gordon P. Getty Family Trust, estimated at around $2 billion during his tenure. In a 2003 interview, William stated, “I make my living working for Gordon Getty,” illustrating the family’s deep involvement in wealth management.
Gavin’s education included attending Ecole Notre Dame Des Victoires, a French-American bilingual school, before transferring due to dyslexia. He later attended Redwood High School, where he participated in baseball and basketball. He pursued higher education at Santa Clara University, graduating in 1989 with a BS degree in political science. While the specific costs associated with his education are not itemized in publicly available sources, a degree from Santa Clara University provides a strong foundation for his future career.
Political Career Milestones
Newsom’s initial foray into politics involved volunteering for Willie Brown’s 1995 mayoral campaign in San Francisco. Following Brown’s election, Newsom was appointed to the Parking and Traffic Commission, eventually becoming its president. In 1997, Brown appointed Newsom to the San Francisco Board of Supervisors, where he served a full four-year term after being elected in 1998. He secured reelection in both 2000 and 2002, representing the second district.
As Supervisor, Newsom gained recognition for his advocacy for the reform of San Francisco’s municipal railway and his support for housing projects through public-private partnerships. His most notable achievement was the Care Not Cash voter initiative, which allocated care, drug treatment, supportive housing, and behavioral health services to the homeless. The successful passage of this measure significantly elevated his public profile and provided him with the platform to pursue a mayoral candidacy.
Newsom’s election as the 42nd Mayor of San Francisco in 2003 marked a significant milestone. During his tenure, he launched programs such as the San Francisco Homeless Outreach Team and Project Homeless Connect, offering permanent housing and affordable rental units to the homeless. A controversial decision in 2004 saw him directing the city-county clerk to issue marriage licenses to same-sex couples, a move that, despite violating state law at the time, bolstered his support within the LGBTQ community. In 2007, he signed a law establishing Healthy San Francisco, providing universal health care to city residents.
After an unsuccessful gubernatorial campaign in 2009, Newsom ran for and won the position of Lieutenant Governor of California in 2010, serving under Governor Jerry Brown. He secured reelection in 2014, defeating Republican Ron Nehring. As lieutenant governor, he supported measures to repeal the death penalty and played a role in the legalization of cannabis in 2016, as well as the development of educational programs throughout the state.
In 2018, Newsom was elected Governor of California, defeating Republican John H. Cox. Shortly after taking office in 2019, he ended the California death penalty and issued his first acts of clemency by pardoning seven formerly incarcerated individuals facing deportation. His governorship has been marked by progressive policies on transgender rights, gun control, health care, and hydraulic fracturing. Recall attempts against Newsom gained momentum in 2020 due to criticism over his handling of the COVID-19 pandemic, but he ultimately survived a recall election.
Real Estate Investments
Newsom’s real estate portfolio includes several notable transactions. In 2011, Gavin and Jennifer acquired a home in Kentfield, California, for $2.225 million. They listed the property for sale in February 2019 for $5.995 million and eventually sold it in August 2021 for $5.895 million, realizing a significant profit. In late 2018, following his election as Governor, the couple purchased a $3.7 million house in the Sacramento suburb of Fair Oaks.
More recently, in November 2024, Gavin and Jennifer invested $9.1 million in a home in Kentfield, California. This property was previously owned by Hyatt Hotels heir Daniel Pritzker. These real estate investments contribute to the overall value of Gavin Newsom’s Net Worth.
Gavin Newsom’s Salary as Governor
As Governor of California, Gavin Newsom’s annual salary is a matter of public record. While specific details of any additional compensation or benefits are not explicitly detailed, his official salary contributes to his overall financial standing.
Personal Life and Relationships
In 2001, Newsom married Kimberly Guilfoyle, a former San Francisco prosecutor and conservative legal commentator. They divorced in 2006. Subsequently, he began dating film director Jennifer Siebel, whom he married in 2008. Together, they have four children.
Jennifer’s family background further contributes to the couple’s financial profile. Her father, Ken Siebel, is a successful investment manager and real estate investor. Her father’s second cousin is Thomas Siebel, the multi-billionaire founder of the software company Siebel Systems. Following his election as governor, Newsom relocated with his family from Marin County to the California Governor’s Mansion in Downtown Sacramento and later settled in the Fair Oaks area.
In 2007, an affair between Newsom and Ruby Rippey-Tourk, the wife of his campaign manager Alex Tourk, was revealed. This event led to Tourk’s resignation and divorce, although it did not directly impact Newsom’s net worth.
Nancy Pelosi Connection
Although often speculated, Gavin Newsom is not Nancy Pelosi’s nephew by blood. The connection is through marriage. Nancy Pelosi has been married to Paul Pelosi since 1963. Paul has a brother named Ron. From 1956 to 1977, Ron Pelosi was married to Barbara Newsom. Barbara’s brother, William Newsom, is Gavin’s father. Therefore, for a portion of Gavin’s early life, Nancy Pelosi was related to him through marriage, but they have no direct familial relationship.
