Elizabeth Warren, the Massachusetts Senator who is running for president, is a wealthy woman. She has released years of tax returns, and her net worth certainly makes her a millionaire.
She’s nowhere near the wealthiest person in Congress, though. Warren opened the first Democratic debate on June 26, 2019 with comments about the economy. Twenty contenders are hoping to break through for a chance to square off against President Donald Trump as the Democratic Party’s nominee.
Elizabeth Warren Net Worth: $8.75 Million
Elizabeth Warren’s net worth is generally estimated at between $3.7 million and $10 million, but you have to add another $1.9 million to that for her house, according to CNN. That makes Warren a wealthy woman. CNN boils her net worth down to her “average net worth” of $8.75 million. The reason her net worth is given as a range is because disclosure forms for U.S. Senators only require a range to be listed.
These are the candidates who will appear on stage at the September 12, 2019 Democratic presidential debate: Former Vice President Joe Biden; Sens. Cory Booker of New Jersey, Kamala Harris of California, Amy Klobuchar of Minnesota, Bernie Sanders of Vermont and Elizabeth Warren; South Bend, Ind., Mayor Pete Buttigieg; former Obama Housing Secretary Julián Castro; former Rep. Beto O’Rourke of Texas and entrepreneur Andrew Yang.
What time is the 2020 Democratic presidential debate on? It will air from 8-11 p.m. ET on ABC and Univision. It’s the third presidential debate, and all eyes will be on Joe Biden as challengers try to knock him off his perceived frontrunner’s perch. According to NPR, to get into this debate, candidates needed to demonstrate that they had “2% in at least four Democratic polls, either nationally or in early states, as well as 130,000 donors from at least 20 states and at least 400 in each state.”
The debate is being held at Texas Southern University.
Here’s what you need to know:
1. Elizabeth Warren Released 10 Years of Tax Returns
Elizabeth Warren placed the economy front-and-center right out of the chute during the first debate (you can vote for who you think won the first debate here).
“Who is this economy really working for? It’s doing great for a thinner and thinner slice at the top. It’s doing great for giant drug companies,” Warren said in opening moments of the debate. “It’s not doing great for people who are trying to get a prescription filled. It’s doing great for people who want to invest in private prisons, just not for the African-Americans and Latinx, whose families are torn apart, whose lives are destroyed, and whose communities are ruined.
She continued: “It’s doing great for giant oil companies that want to drill everywhere, just not for the rest of us that are watching climate change bear down upon us. When you’ve got a government, when you’ve got an economy, that is doing great for those with money and isn’t doing great for everyone else, that is corruption pure and simple. We need to call it out. We need to attack it head on, and we need to make structural change in our government, in our economy, and in our country.”
That has some people wondering: How wealthy is Elizabeth Warren?
Democrats have repeatedly called on President Trump to release his tax returns – to no avail. However, Elizabeth Warren has made her returns readily available on her campaign website. You can see her tax returns for the past 10 years here.
The 2018 tax return is in the names of Elizabeth A. Warren and her husband, Bruce H. Mann. His occupation is listed as a professor; hers as a U.S. Senator. They reported total income of $905,742. They reported $324,687 in business income. The business was listed as “writing.”
“I’ve put out eleven years of my tax returns because no one should ever have to guess who their elected officials are working for. Doing this should be law,” Warren wrote on Twitter.
2. Warren’s Husband, Bruce Mann, Is an Esteemed Professor at Harvard University
Some of Warren’s annual income derives from her husband’s career, and some from her own. Bruce Mann, who is Warren’s second husband, has a highly regarded career as a professor in the Ivy League.
He teaches American Legal History, Property, and Trusts and Estates. “He has also taught as a visiting or permanent member of the faculty at the law schools of Washington University in St. Louis and the universities of Connecticut, Houston, Texas, Michigan, and Pennsylvania, and in the history department at Princeton,” the bio says.
“His five teaching awards include one at Washington University and four at Penn, including the university-wide Christian R. and Mary F. Lindback Foundation Award for Distinguished Teaching.”
He has many publications to his name; his publications “include Neighbors and Strangers: Law and Community in Early Connecticut (University of North Carolina Press, 1987 [paperback ed., 2001]), a co-edited volume of essays entitled The Many Legalities of Early America (University of North Carolina Press, 2001), and articles and essays in various history journals and law reviews,” the bio reads.
“His most recent book, Republic of Debtors: Bankruptcy in the Age of American Independence (Harvard University Press, 2002 [paperback ed., 2009]), received the SHEAR Book Prize from the Society for Historians of the Early American Republic, the Littleton-Griswold Prize from the American Historical Association, and the J. Willard Hurst Prize from the Law and Society Association. He formerly was editor of the Law and History Review. He is a Fellow of the Massachusetts Historical Society, an elected Member of the American Antiquarian Society, and, for 2011-2013, President of the American Society for Legal History.”
3. Warren & Her Husband Give Money to Charity & They Put a Solar Energy Installation on Their Home
Elizabeth Warren’s tax returns provided additional revelations. For one, she and her husband gave away $50,000 to charity. For another, her salary in the U.S. Senate is $175,000. Bruce Mann makes more than double that annual salary at Harvard.
Warren and Mann also put a solar energy installation on their Massachusetts dwelling for which they received thousands of dollars in tax credits.
When she released her tax returns, Warren wrote, “There’s a crisis of faith in government—and that’s because the American people think the government works for the wealthy and well-connected, not for them. And they’re right.”
According to CNN, Mann and Warren live in a “three-story Victorian home in Cambridge” Massachusetts that is assessed at $1.9 million,
4. Elizabeth Warren Comes From an Impoverished Background
As she explains on her campaign website, Elizabeth Warren was not always financially well off. In fact, she comes from a pretty hardscrabble background.
“Elizabeth’s dad sold fencing and carpeting, and ended up as a building maintenance man. Her mom stayed home with Elizabeth and her older brothers,” her website biography explains.
“When Elizabeth was twelve, her dad suffered a heart attack and was out of work for a long time. They lost the family station wagon, and were about an inch away from losing their home, when her mom got a minimum wage job answering phones at Sears. That job saved their home, and it saved their family.”
While her brothers joined the military, Warren took a different route. “From the time Elizabeth was in second grade, she wanted to be a teacher, but her family didn’t have money for college. She earned a debate scholarship, but dropped out to get married to her high school sweetheart at 19. Elizabeth got a second chance at a commuter college in Texas that cost $50 a semester, and she started teaching children with special needs at a public elementary school,” her website says.
5. Elizabeth Warren Was Ranked as the 69th Wealthiest Member of Congress
Elizabeth Warren ranks in the top tier of U.S. Senators and Congresspeople when it comes to wealth, but she’s nowhere close to the wealthiest.
According to Roll Call, she was the 69th wealthiest member of U.S. Congress. The richest? Darrell Issa, a Republican from California. Roll Call gives his net worth as exceeding $283 million. His wealth comes in part from a car alarm invention.
Roll Call examined financial disclosure reports to come up with the list. You can see Warren’s financial disclosure reports through 2015 here.