Gov. Gavin Newsom’s bombshell revelation that the Department of Justice is investigating him and his wife has reignited questions about the California governor’s wealth.
The answer: an estimated $30 million fortune, making his $245,929 annual salary little more than pocket change.
The US Attorney’s Office for the Eastern District of California is probing allegations brought forward by California whistleblowers regarding Jennifer Siebel Newsom’s taxes; Newsom’s former chief of staff, Dana Williamson; and potentially some statehouse staff, the sources said.
The investigation first came to light when Newsom released a pre-recorded social media clip Monday accusing President Donald Trump of directing the FBI and the Department of Justice to pursue the case against him because he was considering a run for president in 2028.
Newsom was a wealthy man by the time he made his first major foray into politics as mayor of San Francisco in 2004.
Newsom was worth about $6.9 million, largely from his stake in a lucrative wine and hospitality business he founded off the back of his connections to California’s wealthiest family, the Gettys.
Newsom’s father, attorney and appeals court judge, William, was so trusted by Gordon Getty, he delivered the $2.2 million ransom to secure the release of his nephew, John Paul Getty III, who had been kidnapped by the Italian mafia on July 10, 1973.
Getty’s son, Billy, partnered with his then-friend Newsom to launch the upscale Balboa Cafe and Plumpjack.
The two later had a falling out after Newsom’s ties to the elder Getty caused “resentment,” the governor has previously suggested.
Plumpjack has gone on to expand into wineries, restaurants and hotels.
The governor’s political position has benefited Plumpjack, with The Post have previously reporting $50,000 in donor’s money has been spent at the company’s businesses.
The governor also owns two lavish homes in California.
Newsom and his wife bought a 12,600-square foot home in Fair Oaks for $3.7 million, borrowing $2.7 million of it, according to state records, in 2018, just before he became governor.
He chose to stay there rather than the governor’s mansion.
The family bought the Kentfield Mansion in Marin County, 20 miles north of San Francisco, which he purchased for $9.1 million, with a mortgage of $6.5 million, at the end of 2024.
The Newsoms moved back so their four children could attend local private schools.
Newsom has also written multiple books, the most recent being his self-titled memoir “Young Man in a Hurry,” which is believed to be a precursor to a potential 2028 presidential run.
Newsom even used his political action committee to spend $1.6 million to bulk-purchase his own book.
Forms showed he made over $100,000 from publication payment and royalties.
His podcasts, also seen as a sign of a potential presidential bid, have not generated any income for the governor, as he cannot accrue income from them while in office, according to the disclosures.
Much of the intrigue from the DOJ probe seems to be centered on his wife Jennifer Siebel Newsom, who also blasted the investigation as un-presidential like behavior. She has her own blind trust with at least $1 million in holdings.
Siebel Newsom is involved with the feminist nonprofit Representation Project, where she earns more than a $150,000 salary as a founder. That nonprofit also gave around $150,000 annually to Siebel Newsom’s media production company, Girls Club Entertainment, which she has used to create documentaries.
The Post previously reported that the governor helped funnel more than $4.4 million in donations from organizations and powerful figures to another Siebel-founded nonprofit named the California Partners Project, which has coordinated on projects that overlap with the Representation Project.
Those requested donations are legal but have raised conflict-of-interest concerns given those same entities have business before the state government.
“They are not breaking any laws,” said Dan Schnur, a teacher of political communications at USC and UC Berkeley, “but [Newsom] is following this law more aggressively than any other politician in modern memory.”
Newsom previously owned stock before his time as governor, like tech giant Intel and drug manufacturer Merk & Co., according to state forms. Newsom has held a blind trust worth more than $1 million in mutual funds, according to Gazette Direct.
