Smiley face
Weather     Live Markets

Vice President Kamala Harris saw a decrease in income from her book sales in 2023, making less than $10,000—the lowest amount since she took office. This decline in book earnings was offset by an increase in interest income, attributed to high interest rates, totaling between $31,200 and $103,500. Harris and her husband, second gentleman Doug Emhoff, have a significant cash reserve of $850,000 to $1.7 million, along with $2 million to $5 million in retirement investments. Their portfolio consists mainly of low-conflict-of-interest holdings such as bonds and index funds.

Emhoff, a former entertainment litigator, now works as a professor at Georgetown University Law Center. His salary is not disclosed in Harris’ financial filings, but he remains active in managing their investments, with over 100 transactions in 2023 alone. The second couple’s net worth was estimated at $7 million in 2021, including real estate, pensions, and retirement accounts. They sold their Washington, D.C. home in 2021 and now reside in the historic vice-presidential mansion.

Comparatively, President Joe Biden’s net worth was estimated at $10 million in May, up from $8 million at the start of his term. Biden also saw an increase in borrowing against his vacation home in his latest financial disclosure. Despite their wealth, both Harris and Biden fall far behind former President Donald Trump, whose net worth fluctuates around $7.9 billion. Trump’s financial disclosures, including his stake in the Trump Media and Technology Group, are due on July 1 after a 45-day extension request.

Harris’ financial disclosures also included a gift of free Beyoncé tickets, valued at $1,656, from the music icon. This unique gift sets Harris apart from Trump and other wealthy politicians, highlighting the personal connections and perks that come with their positions. Overall, Harris’ income mix in 2023 reflected a temporary decline in book earnings but an increase in interest income, showcasing the financial strategies and responsibilities of prominent political figures like the Vice President and her husband.

As Harris navigates her role as the second highest-ranking official in the United States, her financial disclosures provide insight into her income sources, investments, and overall wealth. Her varied financial portfolio, including book royalties, interest income, and retirement investments, reflects a cautious approach to managing conflicts of interest and ensuring financial stability. While her book earnings saw a dip in 2023, Harris remains financially robust, alongside her husband, Emhoff, as they continue to serve in their respective roles in government and academia.

© 2024 Globe Echo. All Rights Reserved.