politics

How Much Is Pete Buttigieg’s Net Worth?

Feb 26 2020 By Akbar Shekh
The picture of Pete Buttigieg
The picture of Pete Buttigieg

Are you excited about the 2020 United States presidential election? If yes, then you must read about Pete Buttigieg who is a candidate for the Democratic nomination of the 2020 US presidential election. The American politician served as a mayor of South Bend, Indiana from 2012-2020. Matter of fact, he is a graduate of Harvard College and Oxford University.

Today, we will be talking about the net worth of Pete who stood as a nominee with the smallest net worth of any 2020 democratic presidential candidates. Yes, you read it right. The politician who has been married to Chasten Buttigieg and enjoy around $440,000 (combined) real estate and investments with his partner. Nevertheless, they have accumulated debt of $330,000 from mortgages and student loans.

Then, how much net worth does Pete Buttigieg actually hold? Let’s find out all the properties and assets of Pete in the lower sections of this article. Stay tuned.

Pete Buttigieg Holds $100,000 Net Worth

The former mayor of South Bend, Pete Buttigieg is reported to have the smallest net worth among nominated candidates for the 2020 US presidential election. According to Forbes, he has maintained an estimated capital of $100,000.

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The former mayor of South Bend, Pete Buttigieg holds $100,000 net worth
The former mayor of South Bend, Pete Buttigieg holds $100,000 net worth
Image Source: Business Insider

Whereas other nominees, Bernie Sanders has $3 Million net worth, Joe Biden has $9 Million net worth and Elizabeth Warren has $12 Million fortune. Although Pete has less amount in his bank account than his competitors, he is ready for the 2020 election.

Pete Buttigieg’s Salary & Earnings

As per the reports of CNBC, Pete Buttigieg earned $112,314 as salary while serving as the mayor of South Bend in 2018. He and his partner, Chasten together makes a total income of $152,643. They both paid $20,000 under an approximate tax rate of 13.2% in federal taxes. Matter of fact, Pete is earning six figures salaries over the past few years. Matter of fact, he used to make an annual income of $7,000 before running for the mayor of South Bend in 2011.

As Pete don’t make enough earning from his career, he once reflected his life as a middle-class and told CNBC:

Everybody’s talking about the middle of the country like it’s some mysterious place and I think it might make sense to have somebody in the mix who actually lives here. I actually live in a middle-class lifestyle, in a middle-class neighborhood, in the American Midwest.

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As Pete admitted he belongs from a middle-class family, he doesn’t have any regrets of having a low income than his other competitors in the 2020 presidential election.

During a debate on 19th February 2020, Pete stated:

At the end of the day, it’s not just about how much money you’ve got; it’s what you stand for.

Matter of fact, Pete was listed as one of the highest-paid mayors in Indiana where he was making $100,000 every year except 2014 when he was deployed to Afghanistan for part of the year. He earned a $46,000 salary that year.

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A Debt of $330,000 From Mortgages and Student Loans

As we mentioned earlier, Pete Buttigieg is caught up with several loans. He had a combined wealth of $440,000 in real estate and investments with his partner, Chasten Buttigieg. However, he paid $330,000 and cleared his debt from mortgages and student loans. After subtracting his loans, Pete ended with a total capital of $100,000 as of 2020.

Pete Buttigieg with his partner, Chasten Buttigieg
Pete Buttigieg with his partner, Chasten Buttigieg
Image Source: Getty Images

According to Forbes, Pete had earned around $153,000 in 2019 with his partner. It also claims that Pete still owes about $150,000 on the mortgages.

House In South Bend, Indiana

Pete Buttigieg had bought a 2,500 sq. ft. house in South Bend, Indiana for $125,000. He had bought the house around ten years ago and later settled with his partner.

Pete Buttigieg in his $125,000 South Bend House
Pete Buttigieg in his $125,000 South Bend House
Image Source: Business Insider

During an interview with Pete, the editor for Vogue, Nathan Heller had once mentioned Pete’s house to be one of the nicest houses in the city.

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