Kevin McCarthy Net Worth: How Rich is the Politician in 2024?

Kevin McCarthy net worth

Kevin McCarthy’s net worth is around $300,000. He is one of the most famous American politicians. He has the position of House Speaker in the United States Congress.

Kevin McCarthy Net Worth: $300,000

In this post, I will share how much this famous politician makes. What are his sources of income, his career, how much his career has contributed to his net worth, his early life and biography, his family and personal life, and much more?

Let’s dive in.

Full nameKevin Owen McCarthy
Net worth$300,000
Source of wealthSalary, Investment
BirthdayJanuary 26, 1965
BirthplaceBakersfield, California, United States
Last Update2023
About Kevin McCarthy and his net worth

Short Summary

  1. Kevin McCarthy has an estimated net worth of $300,000.
  2. McCarthy’s income comes from his investments and political career.
  3. Kevin McCarthy was ousted as the speaker of the House of Representatives.
  4. Very recently, McCarthy was accused of elbowing Tim Burchett.
  5. Nymag listed Kevin McCarthy as the biggest loser in politics in 2023.

Who is Kevin McCarthy?

Kevin McCarthy ruled over the House of Congress as its speaker. He was born on January 26, 1965, in Bakersfield, CA.

McCarthy started his political career as an intern in Congress. He was first elected to the California Assembly and then to the US House of Representatives.

He was the one who prevented a big national crisis. Likewise, he engaged with Biden and solved this national issue. After helping approve a budget bill at the last minute to prevent a government shutdown.

McCarthy was relieved of his position as House Majority Leader by a chamber vote. McCarthy is under criticism for his role in the inquiries of the former leader.

What is Kevin McCarthy’s Net Worth? — Income Sources and Salary

Kevin McCarthy has an estimated net worth of $300K. Kevin McCarthy earned a salary of $175,000. As a Speaker, his salary was $223,500 a year.

What is Kevin McCarthy's net worth?

McCarthy and his family live in Bakersfield, California, in a home of 1,571 square feet (ca. 146 square meters). 

McCarthy claimed to owe about $50,001 and $100,000 on his home mortgage in 2019. The home had a projected worth of around $300,000.

After all, he lives a luxurious life. He has different luxurious cars and assets. No one knows every detail of his financial state. But he earns most of this from politics and real estate investment.

List of Kevin McCarthy’s Income Sources

  1. Salary
  2. Real Estate Investment

List of McCarthy’s Assets Counts as Net Worth

AssetValue of AssetIncome TypeIncome
American Mutual Funds Class A (MF)$50,001-$100,000Capital Gains, Dividends$2501- $5000
New Economy Fund Class A$50,001-$100,000Capital Gains, Dividends$50,001-$100,000
CMR LLCUnderminedRoyaltiesNone
Growth Fund of America Class A [MF]$100,001- $250,000Capital Gains, Dividends$5,001-$15,000
Growth Fund of America Class F-1 [MF]$50,001-$100,000Capital Gains, Dividends5,001-$15,000
List of McCarthy’s Assets Counts as Net Worth

List of Liability for McCarthy

CreditorTypeMinimum Value
Kern Schools Federal Credit UnionMortgage Loan on personal CA residence$50,001-$100, 000
Department of EducationParent Plus Student Loan$50,001-$100, 000
List of Liability for McCarthy

Cumulative Net worth

According to our calculation of previous public data, we are estimating Kevin McCarthy’s net worth is around $300,000 as of now.

McCarthy’s Career And Its Role in His Income And Net Worth

McCarthy had a business-sector career before he entered politics. After working in sales and promotions for a while, he went into business for himself. 

In 2000, Kevin McCarthy was chosen to serve on the board of trustees for the Kern Community College District, marking the beginning of his political career. 

He debuted in the California Assembly in 2002 and remained there until 2006.

U.S. House of Representatives

Kevin McCarthy won the position of House majority leader in 2014. By 2015, McCarthy was widely seen as the nominee for speaker of the House. Former Tea Party members took credit for Speaker of the House John Boehner’s departure. 

McCarthy and Obama are talking

Kevin McCarthy eventually withdrew from the race because he could not secure enough votes.

After the Republican Party suffered significant losses, McCarthy became a minority leader in the House of Representatives.

The Full Political Career Timeline of Kevin McCarthy

  • Representative, United States House of Representatives, California, District 20, 2023-present
  • Former Assistant Whip, United States House of Representatives
  • Speaker, United States House of Representatives, 2023
  • Minority Leader, United States House of Representatives, 2019-2023
  • Representative, United States House of Representatives, California, District 23, 2007-2023
  • Candidate, United States House of Representatives, California, District 20, 2022
  • Majority Leader, United States House of Representatives, 2014-2019
  • Majority Whip, United States House of Representatives, 2011-2014
  • Chief Deputy Whip, United States House of Representatives, 2008-2011
  • Minority Floor Leader, California State Assembly, 2004-2006
  • Assembly Member, California State Assembly, District 32, 2003-2006

The Latest: What Happened to Kevin McCarthy and His Career?

In a historic turn of events on October 3, 2024, Kevin McCarthy, the California Republican and House Speaker, faced an unprecedented ousting in a significant vote. The House decision, with a tight margin of 216 to 210, marked McCarthy as the first Speaker to be removed through a full House vote amid a congressional term.

The motion to vacate was set in motion by Rep. Matt Gaetz, a Republican hailing from Florida. This move garnered support from eight Republicans and the entirety of the Democrats present and voting. 

McCarthy’s removal followed a last-minute agreement to avert a government shutdown, facilitated with the assistance of House Democrats. However, discontent among hard-right Republicans, dissatisfied with McCarthy’s spending bill aimed at maintaining government funding, played a pivotal role in his ousting.

With McCarthy’s departure, Republican Rep. Patrick McHenry assumed the role of acting Speaker or speaker pro tempore.

The House has since entered a recess period as both political parties deliberate on the way forward. The absence of an apparent successor to lead the House Republican majority has plunged the chamber and its Republican leadership into disarray. The quest for a new Speaker is underway, marking an unprecedented event that has left the House uncertain and chaotic.

Early Life and McCarthy’s Biography

Bakersfield, California, is the place of birth for Kevin Owen McCarthy.  Kevin went to Bakersfield High School and was a team star player at tight end. McCarthy attended Bakersfield Community College for a year after graduating from high school but eventually left. 

McCarthy, then 19 years old, opened a deli in the back of his uncle’s frozen yogurt restaurant using money from a lottery win. Then he went to the University of California, Bakersfield, where he studied business and got his bachelor’s and master’s degrees.

McCarthy married his second year of high school and loved Judy Wages (Judy McCarthy). This couple calls Bakersfield, California, home. Connor and Meghan are the couple’s kids.

Judy and Kevin McCarthy at their marriage

Last Thoughts-How Much Is Kevin McCarthy Worth?

Kevin McCarthy’s net worth is around $300k. His wealth is likely significant given his position as House Minority Leader and his extended career in Congress. 

McCarthy’s wealth is most likely a result of his Congressional salary, assets, and property ownership.

The diverse economic histories of persons who hold offices of power in the United States are reflected in Kevin McCarthy’s wealth, which reflects his work in government service and entrepreneurial interests. 

He even published a book detailing his plans for advancing his political life.

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