Hakeem Jeffries is a U.S. Representative for New York’s 8th Congressional District and one of the House Managers in President Donald Trump’s impeachment trial. His net worth is estimated to be about $567,000, placing him under many Congressmen with net worths in the millions.
1. Hakeem Jeffries’ Net Worth Is About $300,00 to $560,000
According to Open Secrets, Hakeem Jeffries’ net worth in 2016 was estimated to be about $567,508. The top industry he was invested in was real estate, and his top assets were bank accounts worth $175,000 (Bank of America) and another $175,000 in HSBC.
Roll Call estimates his net worth at about $.3 Million (around $333,000), with minimum assets at $.5 million and minimum liabilities at $.3 million.
His estimated net worth over the years has declined quite a bit, according to Open Secrets’ estimates. In 2015, his net worth was estimated at being near $943,000. 2013 put him at $259,007, interestingly enough, and then 2014 was the same.
His 2018 disclosures were pretty similar, with some life insurance policies added and some changes to his retirement funds.
2. His Assets Were Mostly in Mutual Funds & IRAs
Jeffries’ assets in 2016 were in mutual funds, brokerage IRAs, NY 529 Direct Plans for his dependent children, annuities, a federal credit union account, and real estate worth $15,000 to $50,000. He’s also participating in a New York State pension plan.
3. His One 2016 Liability Was for a Primary Residence Mortgage Worth $250K to $500K, & He Added a DC Residence in 2017
He had one listed liability in 2016 for a primary residence mortgage worth $250,000 to $500,000. He did not list any other liabilities.
His 2018 disclosure also showed a second mortgage, for $50,000 to $100,000, for a Washington, D.C. residence added in 2017. Also in 2017, he reported a share of a “coop mortgage” in D.C. worth $100,000 to $250,000, and a home equity line of credit worth $15,000 to $50,000 obtained in 2016.
4. Hakeem Jeffries Doesn’t Come from Wealth
Jeffries doesn’t come from wealth. His mother, Laneda Jeffries, was a social worker and his dad, Marland Jeffries, was a state substance abuse counselor. He grew up in Crown Heights and said his parents gave him his “public service spirit,” Ozy.com reported. According to his parents’ wedding announcement, Laneda (Gomes) Jeffries graduated from Central State University in Ohio and worked as a caseworker for the Williamsburg Welfare Center in Brooklyn when she was married. Marland Jeffries also graduated from Central State and was a caseworker in special services for the Department of Welfare.
Hakeem’s wife Kennisandra has worked as a social worker with 1199 SEIU’s Benefit Fund. According to a 2018 financial disclosure, Kennisandra received an income that year from Worksite Medical Service PC.
5. He Left a Lucrative Legal Future for a Career in Politics
Jeffries left what could have been a lucrative law career to be in politics. He said he was never drawn to financial success, but to wanting to help others, The Local Fort Greene (of the New York Times) reported. For a time after graduating from NYU Law, he worked with Paul, Weiss, Rifkind, Wharton & Garrison, who represented Fortune 500 clients. He also did pro bono work before leaving and joining the world of politics. Jeffries actually ran twice for New York State Assembly before winning.