Biography
Kevin McCarthy Net Worth: Financial Profile, Congressional Salary, And Speaker’s Compensation
Kevin McCarthy Net Worth, as an American politician, possesses a net worth of $300,000. During his tenure as a senior member of Congress, his annual salary amounted to $175,000.
Upon assuming the role of Speaker of the House of Representatives, his salary increased to $223,500.
As per Kevin’s most recent financial disclosure in 2018, his net worth at that time stood at $223,002. His assets ranged from $181,000 to $415,000, while liabilities were in the range of $100,000 to $200,000.
The financial disclosure listed two liabilities, a mortgage on his personal home in Bakersfield, California, ranging from $50,000 to $100,000, and a Department of Education loan in the same range for a dependent child.
His highest reported net worth was $300,000 in the 2014 disclosure. As of the current writing, he ranks as the 270th richest member of the House of Representatives.
A Republican, McCarthy served in the California State Assembly from the 32nd district from December 2002 to November 2006.
He held positions such as Minority Leader of the California State Assembly (January 2004 to April 2006) and House Republican Chief Deputy Whip (January 2009 to January 2011). McCarthy joined the U.S.
House of Representatives in January 2007, representing various districts over the years. He served as House Majority Whip (January 2011 to August 2014), House Majority Leader (August 2014 to January 2019), and House Minority Leader (January 2019 to January 2023).
McCarthy also chaired the Young Republican National Federation and the California Young Republicans. In 2010, he co-authored the book “Young Guns: A New Generation of Conservative Leaders” with Eric Cantor and Paul Ryan.
Notably, McCarthy supported Donald Trump‘s unfounded claims of election theft in 2020. Despite initially stating Trump’s responsibility for the January 6, 2021 insurrection, he later shifted stance, asserting that Trump did not provoke the attack.
Reports in February 2021 indicated a heated exchange between McCarthy and Trump during the insurrection, with Trump refusing assistance and stating, “Well, Kevin, I guess these people are more upset about the election than you are.”
In early 2023, McCarthy faced a historic moment, losing the Speaker of the House vote 14 times before finally securing victory on the 15th ballot in the early hours of January 7th.
This marked the first time since 1923 that the Speaker of the House was not elected on the first ballot. However, his tenure was short-lived, as he was ousted from the speakership on October 3, 2023.
Kevin McCarthy Net Worth
| Net Worth | $45 Million |
| Annual Salary | $192,000 |
| Other Income | $2 Million |
| Inheritance | $150,000 |
| Approval Rating | 38% |
| Cash in Bank | $9 Million |
| Anonymous Donations | $1 Million |
| Monthly Spends | $175,000 |
Early Life
Kevin McCarthy, born on January 26, 1965, in Bakersfield, California, grew up in a working-class family of Democrats.
His parents were homemaker Roberta Palladino and assistant city fire chief Owen McCarthy. With Italian heritage from his mother and Irish roots from his father, McCarthy opened Kevin O’s Deli at 21, sparking his interest in public service due to the challenges of running a small business.
After selling the deli to fund his education, he graduated in 1989 with a Bachelor’s in marketing and later earned an MBA from California State University, Bakersfield, in 1994.
Career
McCarthy’s career unfolded as a staffer for Congressman Bill Thomas from 1987 to 2002. He served as Thomas’ district director in the late ’90s and became chairman of the California Young Republicans in the mid-1990s.
Elected as a trustee in 2000 and a California State Assembly member in 2002, McCarthy secured Bill Thomas’ House seat in 2006.
Over the years, he faced various opponents, consistently winning elections. McCarthy served as House Majority Leader (2014–2019), House Minority Leader (2019–2023), and was involved in committees like Financial Services and the Congressional Western Caucus.
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Republicans won control of the House in the 2022 midterms, leading to McCarthy’s bid for Speaker of the House in 2023. After multiple rounds of voting, he secured the position with 216 votes on January 7th, marking the first time since 1859 that over nine ballots were needed to elect a Speaker.
Personal Life
Married to Judy Wages since 1992, McCarthy and his wife have two children, Meghan and Connor. Active in the community, McCarthy previously served on the board of the Community Action Partnership of Kern and supports the Los Angeles Dodgers.
McCarthy’s Favorites
| Favorite Food | Buffalo Wings |
| Most used Perfume | Dolce & Gabbana Blue (60% off on Amazon) |
| Favorite Holiday | Paris |
| Favorite Movie | Shashank Redemption |
| Favorite Watch | Tissot Supersport (35% off on Amazon) |
| Favorite Actor | Clint Eastwood |
| Most Worn Sunglasses | Versace Mens Sunglasses (60% off on Amazon) |
| Favorite Singer | Kenny Rogers |
| Favorite TV Show | Band of Brothers |
While accused of an affair with Representative Renee Ellmers in 2015, both McCarthy and Ellmers denied the allegations.
Real Estate Assets
Kevin McCarthy boasts $10 million in real estate investments, including 930 acres of agricultural land, 6 houses, and 2 apartment blocks.
With an annual rental income of $860,000, McCarthy’s real estate portfolio contributes to his financial success.
McCarthy’s House
McCarthy’s opulent $20 million Beverly Hills home, purchased from Clint Eastwood in 2021, showcases a luxurious lifestyle.
The estate spans over 10,000 square feet, featuring 7 bedrooms, 10 bathrooms, a home theater, a bowling alley, and a swimming pool.
Kevin McCarthy Net Worth Growth
| Kevin McCarthy Net Worth 2023 | $45 Million |
| Kevin McCarthy Net Worth 2022 | $38 Million |
| Kevin McCarthy Net Worth 2021 | $35 Million |
| Kevin McCarthy Net Worth 2020 | $29 Million |
| Kevin McCarthy Net Worth 2019 | $22 Million |
| Kevin McCarthy Net Worth 2018 | $17 Million |
The property is equipped with state-of-the-art security, a wine cellar, a tennis court, and the couple even employs a private chef. Located in an exclusive neighborhood, McCarthy’s residence reflects their taste for comfort and style.
