Vice presidential candidate JD Vance, 40, has amassed a multimillion fortune in the two decades since he left behind the hardscrabble childhood he described in his bestselling 2016 memoir “Hillbilly Elegy.”
Vance has a net worth estimated between $4.8 million to $11.3 million, according to federal disclosure forms filed in August. While that’s a far cry from the estimated $6.7 billion fortune of his running mate, former President Donald Trump, Vance’s wealth far surpasses the median U.S. household net worth of $193,000.
Vance parlayed his tough upbringing into a life of rare privilege after attending Yale Law School, where he met his wife, Usha, and made connections with wealthy patrons, including the right-leaning billionaire Peter Thiel, co-founder of PayPal. After graduating from Yale, Vance was hired by Thiel’s firm Mithril Capital, marking the start of a career in venture capital that helped build his fortune.
“I mean, look, I wanted to make money — I’m not saying I’m anti-making money,” Vance told the New York Times in October about his decision to start a career in venture capital. “But when I thought about what I really wanted out of my life, what I really wanted was what Usha and I have right now. And I wanted to raise our kids in stability.”
Vance added that when he was a child and people asked his address, he was never sure he would be at the same location a month later because of the financial instability of his youth. “I hated the fact that I had these different addresses — it was just something that really bothered me as a kid,” he added.
Backed by funding from Thiel, Vance ran for a Senate seat in Ohio, winning the race in 2022 and taking his Senate position in January 2023.
Vance’s net worth
Vance’s biggest asset is an account with Charles Schwab, which he valued at between $2.3 million to $7.7 million.
In federal disclosure forms, candidates estimate their assets between a range of values, rather than providing a specific dollar figure. For instance, Vance’s Schwab account holds a stake in the Invesco QQQ Trust, an ETF that focuses on the Nasdaq 100 index, which the senator estimated is worth between $1 million to $5 million.
Vance, a major supporter of digital currencies, also owns between $250,000 to $500,000 in bitcoin, his disclosure form shows.
The vice presidential hopeful also owns:
- Real estate in Washington, D.C., worth between $500,000 to $1 million
- Ownership in his venture capital fund, Narya Capital Fund I, worth between $500,000 to $1 million
- Checking and savings accounts at Marcus Goldman Sachs and the Navy Federal Credit Union valued between $200,000 to $500,000
- A SEP-IRA account worth between $100,000 to $250,000
Vance lists only two liabilities: A mortgage worth between $250,000 to $500,000 and a line of credit between $500,000 to $1 million.
He also gets royalties from “Hillbilly Elegy,” which he estimated brings him between $15,000 to $50,000 in annual income.
Aimee Picchi
Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.
