Serving as the right-hand man to the leader of the free world comes with a lot of responsibility, but it’s a role Vice President Mike Pence has worked toward for most of his career. Read on to learn the net worth of the 48th vice president and see how his background and political career have shaped up.
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Mike Pence Net Worth: $2M
A member of the millionaire’s club, Vice President Pence’s financial situation is a bit more relatable than that of his billionaire boss. Sure, Pence’s net worth is $2 million and he’s currently earning $230,700 per year to serve as the vice president, but his 2017 personal financial disclosure — filed with the U.S. Office of Government Ethics — detailed a relatively standard fiscal situation.
In 2017, Pence’s sole source of income was his approximately $174,000 salary as governor of Indiana. His wife is listed as the owner of craft business That’s My Towel Charm, Inc. and as a self-employed artist, but her work on each generated less than $1,000.
Much of Mike Pence’s $2 million net worth comes from a pension plan, valued between $500,001 and $1 million. He also has two other retirement accounts worth up to $30,000 combined. Like many American parents, Pence has taken student loans out to fund his children’s education. The student loans total somewhere between about $95,000 and $280,000.
Mike Pence Political Career
Mike Pence entered the realm of politics in 2000, becoming a state representative for Indiana at the age of 40. He managed to be elected to his post six times, believing in a platform of “limited government, fiscal responsibility, economic development, educational opportunity and the U.S. Constitution,” according to his official White House biography.
In 2013, Pence stepped down from his post on Capitol Hill and moved back to Indiana — taking office as the 50th governor of the Hoosier State. He eventually returned to D.C. in 2017, but this time with a new address — Pennsylvania Avenue — thanks to his role as second in command behind President Donald Trump.
Mike Pence Personal Life
Born on Jun. 7, 1959, in Columbus, Ind., Michael R. Pence was one of six children born to Edward and Nancy Pence. He attended Hanover College, earning a bachelor’s degree in history in 1981, and moving on to Indiana University School of Law and meeting his future wife, current second lady Karen Pence.
During his time in college, Pence also became reaffirmed in his Christian faith — something that has defined his political career and “remains the driving force in his life,” according to the official White House website. Pence also has three children: Michael, Charlotte and Audrey.
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Laura Woods contributed to the reporting for this article.