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[Stouffers]

I recently saw Mayor Pete has a net worth of $100,000. Not sure if that includes both him and his husband, but either way it seems incredibly low for a person in his position.

Do you have a net worth larger than Butteguese?

 

[StreetsofBeige]

Pete says only $100k? BS.

 

[JareBear: Remastered]

 

[Papa]

Reaction GIF spam isn't cool. Take that shit to Twitter with the rest of the midwits.

 

[Master Of Illusion]

I'mma start losing at least 50% of it starting next year the way these primaries are going.

Spoiler

I make less than 100k

 

[Stouffers]

I'mma start losing at least 50% of it starting next year the way these primaries are going.

Spoiler

I make less than 100k

It's not what you make. It's total assets minus total debts.

 

[Amory]

There's no way his net worth is only 100k

 

[Weiji]

How do I reach des kiedddddz?

 

[quickwhips]

He makes 5k more than me. Guys im going to go enter the primaries as a democrat.

 

[Elektro Demon]

That seems low.
But he's still worth more then me.

 

[Birdo]

 

[Cunth]

thats like poor people level monies

 

[Vicetrailia]

He's hiding all his homes and wealth overseas I guess.

 

[V2Tommy]

I worry when people think net worth = yearly income.

 

[Vicetrailia]

I worry when people think net worth = yearly income.

He was mayor for like 8 years making 100k income. He should be over 100k net unless him and his partners student loans were crazy.

 

[EverydayBeast]

Not buying a politicians net worth is 100K

 

[Stouffers]

He was mayor for like 8 years making 100k income. He should be over 100k net unless him and his partners student loans were crazy.

Apparently they owe like 200k in student debt and a mortgage. I'm going to assume when he talks about net worth he means their household's.

 

[Stouffers]

The Net Worth Of Every 2020 Presidential Candidate

Everyone knows Donald Trump is rich. But how about the 25 people jockeying to replace him as president?

www.forbes.com

 

[Stouffers]

While Pete's is surprising, I'm also surprised at the barely millionaire status of most of the candidates. You'd think most would be over $10M at their ages and positions.

Remember, you're considered a millionaire if your NET WORTH is over $1M.

 

[Deleted member 1159]

Under 35: Median net worth: $11,100 (average net worth: $76,200).
35-44: $59,800 ($288,700).
45-54: $124,200 ($727,500).
55-64: $187,300 ($1,167,400).
65-74: $224,100 ($1,066,000).
75+: $264,800 ($1,067,000).

It doesn't seem shockingly low or anything, maybe he has crazy debt

 

[Stouffers]

Under 35: Median net worth: $11,100 (average net worth: $76,200).
35-44: $59,800 ($288,700).
45-54: $124,200 ($727,500).
55-64: $187,300 ($1,167,400).
65-74: $224,100 ($1,066,000).
75+: $264,800 ($1,067,000).

It doesn't seem shockingly low or anything, maybe he has crazy debt

Maybe I'm just shocked because I'm just a couple of years older, not really known for my great/responsible decisions and sitting at 6x his value.

 

[Deleted member 1159]

A couple good or bad real estate decisions, a bad turn at the job, spouse goes to grad school (*looks over shoulder*) and I dunno, seems pretty possible to have that spread with a few small things going right or wrong. I made about 70k in equity in less than two years of owning my first house by doing almost nothing, I just happened to be in a spot to buy at a time when the market was at its lowest, then it took off.

I bet he's got quite a bit in 401(k)s or other retirement accounts but I've also heard of shockingly high amounts of student loans depending on what the degree is, so that can pretty much negate all your assets when figuring net worth. But I don't really know anything about him or his husband's background.

 

[Blade2.0]

Maybe I'm just shocked because I'm just a couple of years older, not really known for my great/responsible decisions and sitting at 6x his value.

Because most people don't get how poor average Americans are.

 

[LOLCats]

most americans net worth is in the home they may own. if they dont have one, Well there isnt much else to add up.

 

[Unknown Soldier]

Knowing Petey's career background, it's safe to say he's full of shit and saying anything to try and keep his run going. He's the definition of a politician who is a bad liar and there's one thing that kills political careers more than anything else.

 

[TheTurboFD]

I'mma start losing at least 50% of it starting next year the way these primaries are going.

Spoiler

I make less than 100k

How so?

 

[n0razi]

You can own houses/business and still have a low net worth. I know a doctor who makes 250k a year but is still in the red due to his school loans and mortgage.

 

[diffusionx]

You can own houses/business and still have a low net worth. I know a doctor who makes 250k a year but is still in the red due to his school loans and mortgage.

If you're in the red from your mortgage, you're fucked with a rusty tire iron, since that would mean your house is worth less than you owe.

 

[Mihos]

I am not buying that at all.

 

[n0razi]

If you're in the red from your mortgage, you're fucked with a rusty tire iron, since that would mean your house is worth less than you owe.

Yep... but he makes 300k a year so I'm sure he will be fine in a few years

 

[Deleted member 17706]

You can own houses/business and still have a low net worth. I know a doctor who makes 250k a year but is still in the red due to his school loans and mortgage.

Did his home(s) depreciate to a value below his mortgage?

 

[gatti-man]

I'm worth about 300k but that's comparable to 100k

 

[BadBurger]

I have more than $100k just in my retirement account. Then there's an IRA, money market, some high interest on-line savings account, my savings, my cars (2017 and a 2018 (edit: I meant 2019), owned).

I have a hard time believing Pete B. is worth only $100k. His accountants must be doing some financial gymnastics to make it appear that way on paper.

 

[n0razi]

Did his home(s) depreciate to a value below his mortgage?

Yep, read my reply above yours