Mike Pence Net Worth: Mortgage Paid From Campaign Funds
Mike Pence, governor of Indiana and former six-term U.S. congressman, is the vice presidential nominee of Republican nominee Donald Trump.Advertisement
Pence has served as a full-time elected official since 2000 when he was elected to Congress.
The Indiana governor – who graduated from the Indiana University of Law in 1986 and has worked as conservative talk show and radio host in the 1990s, as reported by Biography.com – is not a businessman like Trump.
Also read: Mike Pence – Facts About Donald Trump’s VP
Mike Pence Net Worth: Year to date income and declarations
Pence’s year to date income, according to the Motley Fool financial website, has been recorded as of this month as $173,860. His declarations include pension from the state of Indiana (worth between $500,000 and $1 million) and two retirement/deferred compensation plans (worth between $1,000 and $15,000).
He has also declared a bank account with less than $15,000 and two 529 education savings accounts for his children which are also worth less than $15,000. Two student loans were taken out for his children between the years of 2013 and 2015 which fell in the bracket of $10,000 to $50,000 each.
As reported by the Washington Post, Pence was involved in a financial scandal in 1990 when he was making his run for congress opposite Democratic incumbent Philip R. Sharp.
Mike Pence Net Worth: 1990 Financial Scandal
The accusations of the scandal imposed on him revealed the Indiana Governor had spent nearly $13,000 of funds from donors – an amount calculated to be $23,000 in 2016 money, according to the Consumer Price Index Inflation Calculator – most of which was used to pay down his house mortgage.
Although he lost the elections, Pence said he was “not embarrassed that I need to make a living.” He also said his spending was an “exercise in naivety.”
Pence’s wife, Karen, has two businesses listed in the disclosure (“self employed artist” and “That’s My Towel Charm, Inc.”).