Amy Klobuchar is an American politician and lawyer who has served as the Senator from Minnesota since 2007. A prominent Democrat, she is Minnesota’s first elected female senator. In addition to her salary from politics, she has additional sources of income. Today, we’ll delve into Amy Klobuchar’s net worth and uncover how exactly she made her money.
Table of Contents
How rich is Amy Klobuchar?
Amy Klobuchar was valedictorian at Wayzata High School. She went on to receive her B.A. magna cum laude in political science from Yale University. After Yale, she attended the University of Chicago Law School, where she obtained her J.D. with high honors in 1985.
While at Yale, Klobuchar wrote Uncovering the Dome, a case study that described a decade of political maneuvering related to the building of the Hubert H. Humphrey Metrodome in Minneapolis. She would write three more books, and the contributions earned from her writing significantly contributed to her total wealth.
After finishing law, Amy Klobuchar found a job as a corporate lawyer. Her entry into the political arena came after she gave birth and had to leave the hospital 24 hours later, despite her daughter being born with a disorder. She would advocate for a bill that would make sure new mothers had a guaranteed 48-hour hospital stay: the bill was ultimately signed by President Clinton and made federal law.
Additionally, Klobuchar made six figures each year from her teaching positions at George Washington University and the University of Baltimore.
Finally, the Klobuchar couple significantly invested in mutual funds and contributed to their retirement accounts, which form a sizeable chunk of Amy Klobuchar’s net worth.
What is Amy Klobuchar’s net worth?
In the 2018 report, OpenSecrets estimated Amy Klobuchar’s net worth at $1.32 million. In 2019, Forbes reported the Klobuchar couple’s total net worth to be approximately $2 million, while Yahoo Finance’s article from 2023 puts the figure somewhere between $640,000 and $2.51 million.
According to her 2021 disclosure form obtained by LegiStorm, Klobuchar has an estimated net worth of between $640,000 to $2.51 million. If her net worth falls in the upper half of this range, it would place her in the top half of Congress members, for which the median net worth based on 2019 disclosures was just above $1 million.
Earnings
Most of Klobuchar’s wealth comes from her annual congressional salary of approximately $174,000. Klobuchar has also reported earning around $13,000 in 2021 for book royalties through Penguin Random House. She has several royalty agreements for books she has written in the past as well.
Investments
In addition to sources of income, Klobuchar also holds a variety of assets, such as investments in stocks and bonds. These investments have grown since she entered the Senate, when they were valued at $295,000 to $1.28 million in 2008 and were estimated to be worth at least $1.19 to $2.78 million in 2021.
Klobuchar’s financial disclosure forms reveal a number of investments consisting of mostly mutual funds of stocks and bonds. There is also a mortgage on real estate in her spouse’s name.
2024 Campaign
Klobuchar has yet to confirm her intent to run for the 2024 U.S. presidential elections. However, she made several appearances on the campaign trail in 2020 and was mentioned as a potential vice presidential running mate for President Joe Biden. She has also participated in numerous fundraising events and political debates for her potential candidacy.
How did Amy Klobuchar make her money?
Amy Klobuchar’s net worth has been built on several different sources:
- Politics: Amy Klobuchar was elected County Attorney of Hennepin County in 1999 and served until 2007. She became the Senator from Minnesota in 2007 and continues to hold that position, along with an annual salary that is currently $174,000;
- Book royalties: Klobuchar has written a total of four books: Uncovering the Dome, an autobiography, The Senator Next Door: A Memoir from the Heartland, a sprawling historical antitrust law overview titled Antitrust: Taking on Monopoly Power from the Gilded Age to the Digital Age, and The Joy of Politics. Klobuchar’s senate financial disclosure forms from 2018, which she filed in May of this year, also showed that she received a book advance of $27,000 for an untitled book that will be published by Knopf Doubleday. According to her 2023 financial disclosure form, the royalties earned her over $86,000 that year;
- Investing in retirement accounts and mutual funds: According to publicly disclosed tax forms, Amy Klobuchar and her husband, John Bessler, are avid investors. In 2021, their total investments were estimated to be worth between $1.19 million and $2.78 million—at the very least.
Insider trading involvement
Amy Klobuchar and her husband are investing in mutual funds, but she was never accused of insider trading. Furthermore, she was among the senators who supported STOCK Act in the first place and said in 2012:
“No one is above the law in this country – least of all the lawmakers. This common sense bill will strengthen our democracy by ensuring no federal employee or member of Congress can profit from nonpublic information they’ve obtained through their position.”
As a senator, Amy Klobuchar’s financial activities are closely observed and subject to the STOCK Act, which forbids the use of insider information for private profit, including insider trading.
Who is Amy Klobuchar?
Amy Klobuchar was born on May 25, 1969, in Plymouth, Minnesota. Her parents divorced when she was 15, and the event thoroughly affected her family. According to her memoir, to assist her father in financing her studies, she earned extra money by being a paid subject in scientific studies and taking jobs in construction.
Amy went on to earn her law degree from the University of Chicago Law School. She started in private practice before becoming the Hennepin County Attorney in 1999, a position she held until she was elected to the Senate.
As a moderate Democrat, she would greatly contribute to bipartisan efforts. She put her legislative efforts into healthcare reform, economic issues, and protecting consumer rights. Klobuchar was vital in crafting the 21st Century Cures Act, the goal of which was to hasten medical product development and deliver innovations directly to patients at an increased pace.
She entered the 2020 presidential race relying on her practical approach and specific Midwest character. However, she ultimately dropped out of the race and endorsed Joe Biden. She has left a lasting legacy for being vocal about election security, antitrust issues, healthcare reforms, and veterans’ affairs.
Ultimately, one of her greatest contributions was the betterment of rural communities and her efforts to expand their infrastructure.
Sen. Amy Klobuchar was one of the 10 presidential candidates to make it to the third Democratic debate on Thursday night and like many of her rivals on the debate stage, the 59-year-old Minnesota senator is estimated to be a millionaire.
Klobuchar was one of the first candidates to release her tax returns, which she did in April, publishing 12 years of returns, as far back as 2006, when she was first elected to the U.S. Senate.
In her 2018 return, Amy Klobuchar and her husband, John Bessler, reported a joint adjusted gross income of $338,121. The couple reported that they paid a total of $65,927.
Early Years
Born in 1960, Klobuchar was reared in Plymouth, Minnesota. She earned a J.D. from the University Of Chicago Law School in 1985 and a B.A. from Yale University in 1982. Klobuchar worked as a vice president’s intern while attending Yale (D).
Before entering politics, Klobuchar was a partner in the legal offices of Dorsey & Whitney and Gray Plant Mooty. She won 50.4 percent of the vote to become the Hennepin County attorney in 1998 and was re-elected without any challengers in 2002. Until 2006, when she was initially elected to the U.S. Senate, she was the county attorney.
In 2014, Amy Klobuchar was appointed chair of the Senate Democratic Steering and Outreach Committee, which works with intergovernmental organizations, academic institutions, and advocacy groups to formulate policy positions. Klobuchar earned 58 percent of the vote in that election, and she was re-elected in 2012 and 2018 with more than 60% of the vote. The Senator Next Door: A Memoir from the Heartland, a memoir by Amy Klobuchar, was published in 2015, and uncovering the Dome, a book based on Klobuchar’s senior thesis at Yale on the politics of the Hubert Humphrey Metrodome, was published in 1986.
Personal and Family Life
In 1993, Amy Klobuchar married John Bessler, a private practitioner and law professor at the University Of Baltimore School Of Law. They have a child who attended Yale University and served as Keith Powers’ legislative director in New York. In addition to being Zola Jesus’ cousin, Klobuchar is a United Church of Christ member.
In September 2021, Klobuchar disclosed that she had received a Stage 1A breast cancer diagnosis in February 2021, that a successful lumpectomy had been performed, and that a course of radiation therapy had been successfully finished in May. Her physicians concluded that all the treatments had been successful, and she was cancer-free in August.
The White Carniola area of Slovenia was the source of Klobuchar’s grandparents’ immigration. Amy’s maternal grandparents moved to America from Switzerland. On Minnesota’s Iron Range, her paternal grandpa worked as a miner.
Early Career
Klobuchar worked as a business attorney following law school. She was a consultant at the Minnesota legal firms Dorsey & Whitney and Gray Plant Mooty, where she focused on “regulatory work in telecommunications law.” In addition to practicing law, Klobuchar worked as a prosecutor before running for governor. After giving birth and being compelled to leave the hospital 24 hours later, Klobuchar made her first venture into politics.
This was made more difficult by the reality that Klobuchar’s daughter, Abigail, was born with a condition that prohibited her from swallowing. Following the incident, Klobuchar testified before the Minnesota State Legislature to support a law ensuring that new moms would spend 48 hours in the hospital. President Clinton eventually signed the proposal into law when Minnesota passed the legislation.
When she stood for Hennepin County attorney in 1994, Klobuchar became a contestant for public office for the first time. However, she had promised to withdraw if the incumbent, Michael Freeman, entered the race again after being rejected for the Democratic-Farmer-Labor (DFL) Party’s (Minnesota) endorsement for governor. Klobuchar backed Freeman’s reelection after withdrawing from the contest in June 1994.
Klobuchar actively supported DFL candidates before she entered politics, notably Freeman in 1990. Even though the race for county attorney is nonpartisan, Freeman is a Democrat like Klobuchar. Attorney for Hennepin County since 1998, Klobuchar was unopposed in his reelection in 2002. Minnesota Lawyer named her “Attorney of the Year.” Klobuchar presided over the Minnesota County Attorneys Association from November 2002 until November 2003.
After she had left her position, the matter was finally heard. Following the death of George Floyd while in the custody of the Minneapolis Police, Klobuchar came under fire for her failure to hold officers accountable for their actions, especially in the instance of Officer Derek Chauvin, who was eventually convicted guilty of Floyd’s murder.
Later Years
The county seat of Hennepin is Minneapolis, where Klobuchar was chosen as an attorney in 1998, and she was in charge from 1999 until 2006. At the time, she served as the Minnesota County Attorneys Association’s president. Mark Dayton would not seek reelection in 2006; she decided to compete for his position. She ran for office under the Democratic-Farmer-Labor Party banner (DFL).
In 2007, she comfortably defeated her Republican opponent and won a seat in Congress. After winning the Senate seat, Klobuchar established a reputation as a democratic liberal who regularly supported her party. However, she also showed that she was open to bipartisan compromise. She secured a significant funding package for the Mississippi River crossing of a highway bridge that had collapsed in August 2007.
She backed numerous agriculture bills since they helped an agricultural state and was particularly interested in veterans’ affairs. She also participated in legislation that improved secondary and postsecondary STEM education funding and a significant overhaul of the Senate’s ethical standards. These issues included international commerce and STEM education. Klobuchar got high marks for her office’s openness. She successfully won reelection in her home state in 2012 and 2018.
In the following year, 2020, Klobuchar announced her desire to seek the Democratic Party’s presidential candidacy. In March 2020, Klobuchar withdrew from the race after finding it difficult to get momentum in the crowded field as a centrist candidate. Later, she was considered a potential running mate for Joe Biden, the presumed contender.
On Election Day, November 3, Biden defeated Trump. Trump and other Republicans challenged the results and asserted widespread election fraud despite the lack of evidence to back them up. The gathering of Klobuchar and other senators to ratify Biden’s win took place on January 6, 2021, but it was momentarily disrupted by a Trump supporter invasion of the Capitol.
The horrifying siege went on for several hours. After receiving several accusations that he had incited the revolt, the House impeached Trump on January 13-one week before his term was up. In the Senate trial that took place in February, Klobuchar chose to convict Trump, but he was ruled not guilty by a vote of 57-43.
Role in the Democratic Party
On March 30, 2008, Senator Amy Klobuchar declared her support for Senator Barack Obama in the Democratic primary, giving him her superdelegate vote in exchange. She emphasized her “independent judgments” in addition to his performance in the Minnesota caucuses, which he won with 66% of the vote. She initially backed Hillary Clinton’s second offer for the Democratic nomination for president in 2016.
Since 2015, Klobuchar has presided over the Democratic Steering and Outreach Committee of the U.S. Senate. In 2017, she was elected the community’s steering chair, with Bernie Sanders serving as the outreach chair. In a 2017 CNN broadcast discussion about healthcare reform and the potential replacement of the Affordable Care Act, both spoke on behalf of the Democratic Party.
In the Biden Administration in 2020, Klobuchar was designated a candidate for either Secretary of Agriculture or Attorney General of the United States.
Awards and Honors
Throughout her career, Klobuchar has won a lot of accolades. Her advocacy for the successful adoption of Minnesota’s first felony DWI statute earned her the title of “Attorney of the Year” in 2001 from Minnesota Lawyer, and Mothers Against Drunk Driving presented her with a leadership award for her efforts. For her work on behalf of working families, she was designated a 2008 “Best in Congress” by Working Mother and a “woman” by The American Prospect.
Amy Klobuchar’s net worth – the bottom line
Known for her resilience, practicality, and commitment to public service, Klobuchar has made a lasting influence on the domain of U.S. politics. However, she has made a sizeable wealth in the process. In fact, Amy Klobuchar’s net worth is variously estimated to be somewhere between $1 million and $2 million, which makes her one of the more well-off figures in the U.S. Senate.
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