KEY POINTS

  • Democratic presidential candidate Pete Buttigieg has one of the lowest net worths among candidates
  • He still pays his student loan until now
  • If he wins, he'll be the first ever openly gay president

Pete Buttigieg’s net worth is not what a lot of people think it is. Actually, the democratic presidential candidate's net worth is one of the lowest among all candidates. 

PeteButtigieg states that he lives a "middle-class lifestyle." Known as Mayor Pete to many, he recently became the topic of headlines after leading the initial returns of the Iowa caucuses this month. The result showed him with a slim 26.9 percent lead over Sen. Bernie Sanders’s 25.1 percent, per FOX Business

Buttigieg’s net worth is around $100,000. This is even lower than what many of his critics and supporters have estimated. A large part of this amount came from his salary as mayor of South Bend, Indiana. When compared with other presidential candidates’ net worth, his treasure chest pales in comparison. In fact, Mayor Pete still pays offs his student loan until now. 

Michael Bloomberg is worth around $$52.4 billion. Joining the former New York City Mayor atop the money ranking list is Democratic activist Tom Steyer who is also a billionaire. His net worth is around $1.6 billion. Andrew Yang with $1 million and Sen. Amy Klobuchar with an estimate of $1.9 million net worth. 

Before becoming home state treasurer and eventually mayor, the democratic candidate spent time as consultant for McKinsey & Company, which paid well. The transition from a private employee to a public servant as treasurer of Indiana certainly cost him. A report from Forbes estimated his annual earnings from $150,000 to just $34,000. When he decided to serve as U.S. Navy Reserve, the earnings further dipped to $7,000. 

His income rebounded after being elected as mayor, which saw his yearly earnings jump to $100,000. He invested a part of it to tech stocks such as Apple and Google. 

What makes him likeably among other candidates is where he comes from. He admits he is just someone who lives in a middle class neighborhood. “Everybody’s talking about the middle of the country like it’s some mysterious place and I think it might make sense to have somebody in the mix who actually lives here,” Buttigieg added. 

Buttigieg lives in a modest 2,500-square-foot house allegedly worth $125,000. Aside from living within the means, if he gets elected, he will become the nation’s first openly gay president and also become the youngest ever. By all accounts, should he make it, many are considering it as an ushering of a new era. 

Democrat Pete Buttigieg has faced increasingly sharp criticism for his lack of national experience Democrat Pete Buttigieg has faced increasingly sharp criticism for his lack of national experience Photo: AFP / Joseph Prezioso