How Much Is New Democrat House Leader Hakeem Jeffries Worth?
The Democratic Party has officially elected Rep. Hakeem Jeffries (D-N.Y.) to be the new House leader for 2023 in a decision announced on Capitol Hill Nov. 30. Jeffries succeeds Nancy Pelosi, who announced in mid-November that she’d be stepping down from the leadership position. Pelosi will still remain in the House of Representatives, continuing to add to her 35-year career in Congress, per MSN.
As part of the House Democratic Steering and Policy Committee’s decision to instate Jeffries, they also voted unanimously to honor Pelosi with the legacy title of “Speaker Emerita,” per CNN. In addition to Jeffries, House Democratic leadership positions will be rounded out by Assistant Speaker Katherine Clark of Massachusetts and Democratic Caucus Vice Chairman Pete Aguilar of California, as noted by MSN.
Jeffries is a notable choice for House Democratic leader and is an an emblem of “generational change” for the party, CNN reported. He’s one of the youngest in the Democratic leadership body (at 52) and is also the first Black congressperson to lead either the House or Senate.
Though some mid-term election results are still pending, it’s assumed the Republican party — under the probable guidance of Kevin McCarthy — will gain control of the House, PBS suggested. This means that Jeffries will lead from a party minority position, though still wielding a sizable amount of governing power.
Hakeem Jeffries’ Net Worth
Rep. Jeffries is worth an estimated $841,012 as of 2018, per OpenSecrets, though the Brooklyn Reader (a paper in Jeffries’ hometown) places his net worth (as of 2020) closer to $567,000, noting that those figures are far below those of most of his congressional colleagues. Jeffries’ net worth is also far below Pelosi’s, which GOBankingRates previously reported to hold at about $120 million.
Jeffries’ current base salary, per Ballotpedia.org, is $174,000. However, when he officially enters his new role as the leader of the Democratic House, he will earn closer to Pelosi’s former pay range, which GBR has pegged at $223,500 per year.
Hakeem Jeffries’ Political Career
As noted on his official website, Hakeem Jeffries is now in his fifth term in the U.S. Congress, serving the Eighth Congressional District in New York, which covers much of Brooklyn and parts of Queens. Jeffries is also part of the House Judiciary Committee and House Budget Committee — and has served as chairman of the House Democratic Caucus since 2018, when he was elected to that position.
His bio also detailed that he was previously the Congressional Black Caucus whip as well as the co-chair of the Democratic Policy and Communications Committee, assisting in furthering the House Democrats’ “For The People” policies.
It’s said that, as part of his political platform, Jeffries is “a tireless advocate for social and economic justice,” and was instrumental in pushing the “George Floyd Justice in Policing Act.” His focuses have included helping his constituents get past the pandemic, work on criminal justice system reform, the creation of better paying jobs and ensuring access to healthcare.
It’s also notable that Jeffries was hand-selected by Pelosi to serve as one of seven House impeachment managers in the Senate trial of former President Donald Trump in Jan. 2020.
Prior to his election to Congress in 2013, Jeffries served a six-year term in the New York State Assembly.
Hakeem Jeffries’ Personal Life
As Jeffries noted in his Nov. 30 acceptance speech on Capitol Hill, he was raised in New York by middle class parents who worked in the public service sector. Jeffries was born in Brooklyn Hospital and raised in the Crown Heights neighborhood. He graduated from Midwood High School before moving on to the State University of New York at Binghamton, where he earned a bachelor’s degree in political science.
Additional schooling brought him to Georgetown University, where he earned a master’s degree in public policy, followed by studies at the New York University School of Law. Upon completing law school, Jeffries worked as a clerk for the Honorable Harold Baer Jr. of the United States District Court for the Southern District of New York. His career also brought him to serve as counsel for the litigation team with Viacom Inc. and CBS.
Jeffries is married to wife Kennisandra, who works as a benefits manager for healthcare workers union SEIU Local 1199, per the New York Post. The couple share two sons, Joshua and Jeremiah, according to The Hill, and the family lives in the Prospect Heights neighborhood of Brooklyn.
Property Owned by Hakeem Jeffries
In January, the New York Post reported that Jeffries and his family pay just $213 a year in property taxes for their condo located in a six-story, 40-unit complex in Prospect Heights, which the family first purchased in 2007. The substantial tax break is part of the 421-A abatement program, which Jeffries helped pass as part of the state assembly — legislation which reduces property taxes for owners and residents who make “at least 20% of the apartments ‘affordable’ for moderate- to low-income residents,” per the New York Post.
The Post also indicated that Jeffries has benefited from the program since 2010 and will be eligible for the tax break through 2032 (and estimates that Jeffries’ property is worth around $1.2 million).
More From GOBankingRates