JD Vance, the Republican Senator from Ohio, has been selected by former President Donald Trump as his running mate for the 2024 presidential election. Vance, a venture capitalist, author, and political figure, has an estimated net worth of $5 million .
Earnings from “Hillbilly Elegy”
Vance’s net worth has been significantly boosted by the success of his 2016 memoir “Hillbilly Elegy.” The book, which depicted Vance’s upbringing in Middletown, Ohio and discussed the socioeconomic challenges facing the working class, was a major bestseller. Vance reported earnings of $475,308 in 2021 from book royalties . In the two years after the book’s publication, Vance also earned over $70,000 from speaking engagements at colleges and universities .
The success of “Hillbilly Elegy” extended beyond book sales – the memoir was also adapted into a Netflix film in 2020, starring Glenn Close and Amy Adams . However, the exact earnings Vance received from the film adaptation are unclear, as he did not disclose this information in his financial filings .
Senate Salary and Investments
In addition to his book earnings, Vance’s net worth is bolstered by his $174,000 annual salary as a U.S. Senator. He also has a diverse investment portfolio, with holdings in banks, treasury bonds, and cryptocurrencies like Bitcoin . Vance’s financial disclosures show he has over 100 investments, with his largest holdings including $250,000 – $500,000 in Huntington National Bank and $500,000 – $1 million in Goldman Sachs CDs .
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Venture Capital Earnings
Prior to entering politics, Vance co-founded the venture capital firm Narya Capital, where he is estimated to have earned a salary of around $327,000 . His experience in the venture capital industry has also contributed to his overall net worth.
In summary, JD Vance’s net worth of $5 million is derived from a combination of earnings from his bestselling memoir “Hillbilly Elegy,” his U.S. Senate salary, investment portfolio, and previous work in the venture capital industry .