Kevin McCarthy, a well-known American politician who currently holds the position of Minority Leader in the U.S. House of Representatives, has amassed a sizable fortune over the course of his career. McCarthy’s net worth is believed to be in the millions as of the most recent information available, indicating his successful forays into politics and business.
McCarthy has risen through the political ranks, earning a solid reputation as well as a sizeable financial wealth. His wealth demonstrates his influence and business savvy and establishes him as one of the wealthy people in American politics.
Kevin McCarthy Net Worth
An American politician named Kevin McCarthy has a $300,000 net worth. Kevin McCarthy was a senior member of Congress, with a yearly salary of $175,000. His remuneration as Speaker of the House of Representatives was $223,500.
Kevin’s most recent financial report, which was provided in 2018, shows that his net worth was $223,002 at that time. At the time, his obligations were between $100,000 and $200,000, while his assets ranged from $181,000 to $415,000 in value.
His financial report revealed two liabilities: a Department of Education loan for a dependent kid in the same range as the mortgage on his personal house in Bakersfield, California, which is valued between $50,000 and $100,000.
In his 2014 statement, he stated that his highest reported net worth was $300,000. He ranks as the 270th wealthiest member of the House of Representatives as of this writing.
Although he initially claimed that Donald Trump “bears responsibility” for the uprising that occurred on January 6, 2021, McCarthy eventually claimed that Trump did not initiate the attack on the Capital.
McCarthy endorsed Donald Trump’s bogus accusations that the 2020 presidential election had been rigged. McCarthy and Trump reportedly got into a yelling argument in February 2021 when Kevin called to plead for assistance during the uprising and Donald refused, saying, “Well, Kevin, I guess these people are more upset about the election than you are.”
McCarthy created history in early 2023 when he failed to win the Speaker of the House election 14 times before ultimately winning on the 15th ballot in the early hours of January 7. The Speaker of the House was not chosen on the first ballot for the first time since 1923 in this election. He was dismissed as speaker on October 3, 2023.
In Bakersfield, California, McCarthy and his wife reside in a 1,571-square-foot house that was constructed in 1987. The house was purchased by Kevin and Judy in 1996 and has three bedrooms and two bathrooms. According to McCarthy’s 2019 financial report, the home’s estimated market worth was around $300,000, and the mortgage on it at the time was from $50,000 to $100,000.
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Kevin McCarthy Biography
In Bakersfield, California, on January 26, 1965, Kevin Owen McCarthy was born. Kevin grew up in a working-class Democratic family and is the son of housewife Roberta Palladino and assistant municipal fire chief Owen McCarthy.
Italian and Irish ancestry make up McCarthy’s mother’s and father’s sides, respectively. McCarthy opened Kevin O’s Deli at the age of 21, and after seeing the “redundant and frivolous rules along with tedious paperwork and overburdening taxes” involved in managing a small business, he was motivated to enter public service.
He sold the company to pay for his education, and in 1989 he earned a Bachelor of Science in marketing from California State University, Bakersfield.
As a college student, Kevin worked as a seasonal fireman for the Kern County Fire Department and was able to secure an internship with Congressman Bill Thomas. He graduated from the institution in 1994 with a master’s degree in business administration.
The Republican leader of the US House of Representatives, Kevin McCarthy, graduated from California State University, Bakersfield with a Bachelor of Science in marketing. Kevin McCarthy worked as a marketing coordinator for a nearby business after completing his bachelor’s education before going into politics.
Following his 2002 election to the California State Assembly, Kevin McCarthy then went on to serve in the US House of Representatives, where he has been a member since 2007.
Kevin McCarthy’s Personal Life
Kevin and Judy’s Wages had two kids, Meghan and Connor, after being married in 1992. McCarthy is a supporter of the MLB team the Los Angeles Dodgers and previously served on the board of the Community Action Partnership of Kern.
Immediately following his withdrawal from the 2015 run for Speaker of the House, Kevin was charged with having an affair with married Republican lawmaker Renee Ellmers.
Representative Walter B. Jones Jr. asked his fellow Republican members of Congress to resign if they had engaged in any “misdeeds” in a letter to Republican Conference head Cathy McMorris Rodgers that was written a few days prior to McCarthy’s resignation. Both Ellmers and McCarthy refuted the alleged affair.
Kevin McCarthy Investing Quotes
1. To advance, leaders must create disruption
I’m trying to change Washington.
No more thousand-page bills. Everyone gets at least 72 hours to read legislation. When you make changes like that, it’s disruptive.
Republicans are going to make this place work better. And we’re going to do it together. pic.twitter.com/IC4jdXkRI0
— Kevin McCarthy (@SpeakerMcCarthy) June 7, 2023
2. Perception Forms Reality
I worry about the constant negativity of the media. But I keep them in my prayers, and I hope one day they’ll start rooting for America to succeed! pic.twitter.com/eqTv5ceERf
— Kevin McCarthy (@SpeakerMcCarthy) June 15, 2023
3. Honor Your Heroes
June 6th will forever be etched in our memory. D-Day was 79 years ago today—when our service members stormed the beaches of Normandy and turned the tide of WWII.
They will always be regarded as America’s greatest generation. pic.twitter.com/bCPQIn3UnU
— Kevin McCarthy (@SpeakerMcCarthy) June 6, 2023
Kevin McCarthy Career
McCarthy worked for Congressman Bill Thomas from 1987 to 2002 and was his district director from the late 1990s to 2000. Kevin chaired the California Young Republicans in the mid-1990s and the Young Republican National Federation from 1999 to 2000.
McCarthy was elected Kern Community College District trustee in 2000 and California State Assemblymember in 2002. Bill Thomas retired from the House in 2006, and Kevin won with 70.7% of the vote.
After the 2021 insurrection, Thomas expressed disappointment in his former protégé repeating Trump’s “phony lies” about the 2020 election on television.
McCarthy ran unopposed in 2008 and 2010 after being elected to Congress. After that, he won 73.2% against No Party Preference candidate Terry Phillips (2012), 74.8% against Democratic candidate Raul Garcia (2014), 69.2% against Wendy Reed (2016), 64.3% against Tatiana Matta (2018), 62.1% against Kim Mangone (2020), and 67.3% against Marisa Wood (2022).
Kevin was a member of the Committee on Financial Services, the Subcommittee on Capital Markets, Insurance, and Government-Sponsored Enterprises, the Subcommittee on Financial Institutions and Consumer Credit, and the Congressional Western Caucus.
He was House Majority Leader from 2014 to 2019 and House Minority Leader from 2019 to 2023. McCarthy joined the House Republican Steering Committee as a rookie member and served as Chief Deputy Whip from 2009 to 2011 and Majority Whip from 2011 to 2014.
The election for Speaker of the House started on January 3, 2023, with 203 House members voting for McCarthy, 212 voting for Democrat Hakeem Jeffries, and 19 voting for other Republicans on the first ballot.
Republicans narrowly won control of the House of Representatives in the 2022 midterm elections. In the end, Kevin received 216 votes in the 15th round of voting, which took place at 12:37 a.m. on January 7. The election of the Speaker of the House required more than nine ballots for the first time since 1859.