Kevin McCarthy Net Worth 2022: How Wealthy Is the House Republicans' Speaker Nominee?

House Republican Leader Kevin McCarthy grew up in the middle-class College Heights neighborhood of Bakersfield in Kern County, California, with his family living there for four generations.

The Republican representative is the youngest of three children of a homemaker mother and an assistant fire chief father. When he graduated high school, McCarthy got a job refurbishing automobiles acquired at auctions in Los Angeles and sold them afterward.

In 1984, when he was 20 years old, he bought a lottery ticket and won $5,000. He then invested his winnings in the stock market and used the profits to start his entrepreneurship.

McCarthy then sold his business and returned to college in 1987, earning an undergraduate business degree in 1989 and a master's degree in business administration in 1994. Leadership figures such as Jimmy Carter and Ronald Reagan sparked his interest in politics.

McCarthy also began his association with Republican congressman Bill Thomas when he returned to school. He acted as an intern before becoming a longtime staff member of Thomas, who greatly impacted his life.

From 1999 to 2001, Kevin McCarthy chaired the Young Republican National Federation. He has been minority leader of the House of Representatives for the past four years.

Kevin McCarthy Net Worth 2022

According to CA Knowledge, Kevin McCarthy is considered one of the richest politicians in the United States, with a net worth of $95 million.

His current salary is reportedly $312,000, with assets worth $78 million. He also has a business income of $13 million and receives donations and gifts worth $5 million.

Currently, the GOP leader has liabilities and loans worth $7 million, with investments worth $20 million. Recently, the Republican lawmaker bought a Jaguar XF for $120,000. He also owns a Lexus ES worth $136,000.

Kevin McCarthy lives in an 8,800-square-foot luxury mansion in California, which he bought for $21 million. It features 10 bedrooms, 12 bathrooms, a wine cellar, a tennis court, and two indoor pools.

House Republican Leader Kevin McCarthy's Speaker Bid

Kevin McCarthy has accepted the Republican Party's nomination to run for House Speaker, promising to restore committee assignments for far-right Rep. Marjorie Taylor Greene after Democrats removed her for incendiary remarks.

He has also promised to kick out Rep. Adam Schiff and other Democrats from their committees in the form of "political payback," PBS News Hour reported.

Under his leadership, McCarthy also vowed to remove the metal detectors installed at the House chamber to detect firearms. He also promised to end COVID-era protocols that allowed lawmakers to vote by proxy and fully reopen the Capitol's limited visitor access since January 6, 2021, insurrection.

McCarthy also warned Homeland Security Secretary Alejandro Mayorkas that there would be an impeachment investigation against him unless he resigned from his position.

Schiff recently told CNN that McCarthy's problem was he did not have the 218 votes needed to become House Speaker. However, the House Republicans' speaker nominee said he will not drop out of the running and plans to take the fight to the floor if necessary.

According to Roll Call, Kevin McCarthy must win over a vast majority of those 36 opponents if he wants to be elected House Speaker in the January floor vote.

This article is owned by Latin Post.

Written by: Mary Webber

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