Key facts
- California Governor Gavin Newsom and his wife Jennifer Siebel Newsom reported annual income between $1.7M and $2M from 2022-2024.
- The couple paid approximately $500,000 annually in federal and state taxes during this period.
- The tax returns were released following a media inquiry and amid speculation about Newsom's presidential ambitions.
- A U.S. Justice Department investigation into the Newsoms' finances is ongoing.
- Newsom stated he is the first California Governor to release tax returns covering every year of his tenure.
California Governor Gavin Newsom and his wife Jennifer Siebel Newsom reported annual income between $1.7 million and $2 million from 2022 through 2024, according to tax returns released by the governor's office. The couple paid approximately $500,000 annually in federal and state taxes during this period.
The release of over 700 pages of tax filings, spanning four years, comes as Newsom weighs a potential presidential bid and as the U.S. Justice Department reportedly investigates the Newsom family's finances. Newsom's spokesperson attributed the delay in releasing the returns to a lack of requests until a media inquiry in 2024, stating that the governor is the first in California history to publicly release tax returns covering every year of his tenure.
Newsom earns nearly $200,000 annually as governor, with the majority of his income derived from businesses now in a blind trust. Jennifer Siebel Newsom's film production company, Girls Club Entertainment, saw its pay drop significantly, and Newsom's income from his writing, including his memoir, increased in recent years. The family also realized a profit of approximately $1 million from selling a home in 2021 for $5.9 million, and purchased a new home for $9 million in 2024.
The filings detail annual charitable donations ranging from $40,000 to $65,000 and approximately $190,000 annually for household staff, which a spokesperson stated is for childcare. Newsom has characterized the federal investigation into his family's finances as politically motivated.