How Did Gavin Newsom Make His Money?

Why Is Gavin Newsom Famous?

While every California governor has some notoriety simply because of the state’s size and influence on the rest of the country, Newsom stands out as a rising star in the Democratic Party.

Many believe that he has a good chance of securing a future presidential nomination. Indeed, Newsom helped to fuel this belief when he debated Florida Governor Ron DeSantis in November 2023.

Although Newsom doesn’t plan to run against President Biden, taking time to debate a prominent Republican during an election cycle might indicate that he wants to pursue the role in a future election.

Given the relatively young ages of Newsom and DeSantis, it’s possible they could face each other in a coming presidential election.

How Long Has Gavin Newsom Been Governor?

Newsom became California’s governor in 2019, so he has held the position for four years.

His political career and gubernatorial aspirations started long before his successful campaign in 2018. He first tried to become governor in 2009 but he lost by more than 20 points to Jerry Brown. Newsom did, however, become Brown’s lieutenant governor in 2011.

Newsom had to wait a week longer than normal to take the lieutenant governor’s office. At the time, he was serving as San Francisco’s mayor. The week’s delay ensured that the city had a replacement to fill the role. The city administrator moved into the mayoral office.

What Is Gavin Newsom’s Income?

Gavin’s income fluctuates significantly from year to year depending on how his businesses perform. He typically makes at least $1 million from his stake in wineries, eateries, and venues owned by PlumpJack. On top of that, he gets paid a little over $234,100 for his role as California’s governor.

Newsom’s household also earns money from his wife’s acting and documentary film projects. Jennifer Siebel Newsom, whom Gavin married in 2008, also comes from a prosperous family. Her father is a successful real estate investor and investment manager. She’s also related to Thomas Siebel, a billionaire who founded the Siebel Systems software company.

Although Thomas Siebel’s fortune doesn’t directly impact the Newsom household’s income, the connection suggests that Gavin and Jennifer have access to social and financial capital that most people lack.

What Is The Salary of the Governor of California?

On December 4, 2023, the California Citizens Compensation Commission voted to increase the governor’s salary from $224,020 to $234,101 per year.

The commission also increased salaries for California’s other constitutional officers.

How Did Gavin Newsom Make His Money?

Newsom grew up in a family with numerous political and social connections in the San Francisco area. His father, William Newsom, was an attorney who represented Getty Oil and became a state appeals court judge.

Despite these connections, the family didn’t thrive financially, largely because William consistently gave money to charitable causes and Gavin’s mother, Tessa, opened the home to several foster children.

The family’s financial situation encouraged Gavin to work numerous jobs as a teenager, instilling in him a strong work ethic.

Newsom managed to attend Santa Clara University on a partial baseball scholar, where he filled the pitcher position and majored in political science. After graduation, Newsom approached family friend Gordon Getty about funding PlumpJack Winery.

Together with other investors, they started the winery and found success quickly. When Getty saw that Newsom could manage a winery, he agreed to support other business ventures, including bars, restaurants, and retail stores.

PlumpJack Group has continued to acquire properties to grow its offerings and increase its reach. However, Gavin has recused himself from some of the company’s holdings during his political career. For instance, he sold his stake in San Francisco businesses when he became the city’s mayor.

As governor, his investments are controlled by a blind trust. Even without his direct oversight, PlumpJack has remained profitable and contributed more than $1 million per year to Newsom’s wealth.

Gavin Newsom Net Worth

Gavin Newsom has a net worth somewhere between $18 and $22 million. Most of his wealth comes from co-founding PlumpJack Winery with several investors, including Gordon Getty, a composer and philanthropist who inherited a fortune from his oil tycoon father.

PlumpJack Winery’s success led to other business ventures now managed under the umbrella company PlumpJack Group.

PlumpJack Group’s portfolio includes several wineries and other properties like:

• Odette Estate Winery
• 13th Vineyard
• PlumpJack Inn in Lake Tahoe
• Balboa Cafe in San Francisco
• PlumpJack Cafe in Olympic Valley
• PlumpJack Wine and Spirits retail stores in Marina, Noe Valley, and Olympic Valley
• White Rabbit bar and venue space in Marina

When Newsom became San Francisco’s mayor in 2004, he sold his stake in PlumpJack Group businesses within the city. He maintained his interests in properties outside of San Francisco. During this period, he earned an estimated $200,000 annually from business income.

More recently, Governor Newsom and his wife have netted more than $1 million per year. In 2019, they made about $1.7 million. In 2020, they made about $1.5 million.

Governor Newsom signed a 2019 bill into law that requires California’s elected officials to report their income information to the state.

While governor of California, his business matters are maintained by a blind trust. Ideally, that means Newsom doesn’t have any reason to shape public policy in ways that would benefit his companies or personal wealth.

How Many Wineries Does Newsom Own?

Newsom owns four wineries through his company, the PlumpJack Group. He started his first winery, PlumpJack Winery, with several investors in 1997.

The winery specializes in growing and making drinks from Cabernet Sauvignon grapes. It was also the first winery in Napa Valley to start using screw tops instead of corks.

PlumpJack Group also owns:

• CADE Estate Winery, the first Napa Valley vineyard to achieve LEED (Leadership in Energy and Environmental Design) Gold Certification.
• Odette Estate Winery, which uses organic farming practices in Nappa Valley’s Stag Leap District.
• 13th Vineyard, a farm and winery that has been operating in Nappa valley since the 1800s.

Is Gavin Newsom Related to Dianne Feinstein?

Gavin Newsom and Dianne Feinstein are not related.

They do, however, come from prominent San Franciscan families that have shaped the city’s business, political, and cultural landscape.

How Is Gavin Newsom Related to Jerry Brown?

Newsom and Brown are not related by blood, but their families have been connected for nearly a century.

About 80 years ago, Pat Brown, the father of future California Governor Jerry Brown, accepted money from William Newsom, Gavin’s great-grandfather.

As governor, Pat Brown gave the Newsom family a concession to operate at Squaw Valley.

In the next generation, Governor Jerry Brown appointed Gavin’s father, William Jr, to the Superior Court and, later, San Francisco’s Court of Appeals.

The Newsom and Pelosi families were prominent in San Francisco politics and business. The Pelosis also benefitted as Newsom business partners in the Squaw Valley concession venture.

The Newsom family also has considerable ties to the Pelosis and Gettys. William Newsom unofficially adopted Gordon Getty into the Newsom family. Getty would later help fund Gavin’s business ventures.

How Old Is Gavin Newsom?

Gavin Newsom was born on October 10, 1967. As of 2024, he is 56 years old. Newsom’s wife, Jennifer Siebel Newsom, was born on June 19, 1974, making her 49.

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