Gavin Newsom’s financial journey combines political ambition with entrepreneurial success. As of 2025, his net worth is estimated at approximately $30 million, with his wealth stemming from a combination of business ventures, political salaries, and family connections. While Newsom has made a name for himself in politics—serving as the 40th Governor of California since 2019—his financial portfolio extends far beyond his public service.
Long before stepping into the governor’s office, Newsom established himself as a businessman. In 1992, he co-founded PlumpJack Associates L.P., which started with a single wine store in San Francisco and expanded into a multi-million-dollar empire. Over the years, the PlumpJack Group grew to encompass 23 businesses, including wineries, restaurants, nightclubs, hotels, and retail shops.
While Newsom divested from his San Francisco-based businesses when he became mayor in 2004, he retained stakes in other ventures outside the city. His most valuable assets include investments in Airelle Wines Inc., Moswen LLC, and Villa Encinal Partners, each worth over $1 million. Additionally, he holds significant investments in the Falstaff Management Group and Balboa Café Partners.
Breaking Down Gavin Newsom’s $30 Million Net Worth and $291K Salary in 2025
One of the biggest contributors to Newsom’s financial stability is his deep-rooted connection to the Getty family, heirs to the vast oil fortune of J. Paul Getty. Gordon Getty, a close family friend, was an early investor in PlumpJack, reportedly putting in $7,500 as part of a group of investors.
Over the years, the relationship with the Gettys has remained a focal point in discussions about Newsom’s wealth. When he became mayor of San Francisco in 2004, he sold his interests in PlumpJack’s city-based businesses to Gordon Getty for $1.7 million. In 2011, after winning the lieutenant governor seat, Newsom reacquired his interests from Getty, reportedly paying a premium.
Aside from his business ventures, Newsom’s political career has been a steady source of income. His salary as Governor of California was recently increased to $291,715 per year, making him the highest-paid governor in the United States. Before that, as lieutenant governor from 2011 to 2019, he earned an annual salary of around $151,000.
His financial disclosures reveal that he and his wife, Jennifer Siebel Newsom, consistently reported annual incomes exceeding $1 million, primarily from their business holdings. In 2019, for instance, the couple made $1.7 million, a $500,000 increase from the previous year, with the majority coming from passive income related to his winery and restaurant businesses.
Real estate has also played a role in Newsom’s financial portfolio. In 2011, he and Jennifer Siebel Newsom purchased a home in Kentfield, California, for $2.2 million. They later listed it for sale in 2019 for $5.9 million and sold it in 2021. The couple then purchased a $3.7 million home in Fair Oaks, a suburb of Sacramento, where they currently reside. More recently, in late 2024, they acquired a new property in Marin County for $9.1 million, further cementing their status among California’s wealthy elite.
So how did Gavin Newsom buy a $9.1M house with a $242k salary? pic.twitter.com/3ZB0zHxiAT
— Lucy (@TheLucyShow1) February 17, 2025
Despite his financial success, Newsom’s wealth has been a frequent target of political opponents. Critics argue that his privileged connections have given him an unfair advantage, with Republican challenger John Cox famously branding him the “poster boy for privilege.” Newsom, however, has consistently defended his business record, emphasizing that he built his companies from the ground up and employed hundreds of Californians.
Gavin Newsom’s financial disclosures also indicate that he has made strategic investments beyond PlumpJack. He holds a blind trust with mutual funds worth over $1 million, allowing him to maintain investments while adhering to ethical guidelines. His assets also include silver trading, which netted him nearly $500,000 in 2011, and book royalties from his 2013 publication, Citizenville: How to Take the Town Square Digital and Reinvent Government. In 2019, he earned an additional $125,000 from the book.
His wife, Jennifer Siebel Newsom, a filmmaker and activist, also contributes to their financial standing. She runs The Representation Project, a nonprofit focusing on gender representation in media, and has earned income from her production company, Girls Club Entertainment. Her family’s wealth is another factor in Newsom’s overall financial picture, as her father, Ken Siebel, is a successful investment manager and real estate investor, while her second cousin, Thomas Siebel, is a billionaire software entrepreneur.
