What is Joe Manchin’s net worth?
Joe Manchin is an American politician who has a net worth of $8 million. Joe Manchin is a Democrat who was elected to the United States Senate representing West Virginia in 2010. Before being elected to the Senate, Manchin was the 34th governor of West Virginia, serving from 2005 to 2010. He was a West Virginia state senator from 1986 to 1996.
During his time in the Senate, Joe has made headlines for his opposition to causes traditionally supported by his fellow Democrats, particularly Medicare for All and raising the minimum wage to $15 an hour. He also opposes abolishing the filibuster and packing the Supreme Court.
In 2021, Joe Manchin became something of a national figure for his opposition to Joe Biden’s “Build Back Better” plan. Manchin’s “no” vote effectively killed the bill.
Finances and income
When he was first elected to the Senate in 2010, Manchin estimated his net worth at $6 million. According to his most recent financial disclosure in the United States Senate, Manchin’s net worth is in the range of $7 million to $8 million. That made him one of the 20 richest people in the Senate.
Manchin is the founder of a coal brokerage company called Enersystems. His private shares in the company represent approximately 30% of his net worth. According to its 2020 financial statement, its shares are worth between $1 million and $5 million, depending on the coal market. That disclosure further revealed that Manchin received dividends from Enersystems worth $5.2 million between 2011 and 2020. In 2020, his company’s dividend was $500,000.
Senate Salary
As a senior senator, Joe Manchin’s salary is $174,000.
(Photo by Jim Watson-Pool/Getty Images)
Education and early life
Joseph Manchin III was born on August 24, 1947 in Farmington, West Virginia, the second of five children of Mary and John. He is of Italian and Czech descent. After graduating from Farmington High School, Manchin attended West Virginia University on a football scholarship. However, an injury finally ended his football career and he graduated in 1970 with a Bachelor’s Degree in Business Administration.
Political beginnings
In 1982, Manchin was elected to the West Virginia House of Delegates. Four years later, he was elected to the West Virginia Senate, where he served until 1996. Manchin first ran for governor of West Virginia in 1996, but lost the primary to Charlotte Pritt. He later supported the Republican candidate, Cecil Underwood, who won the general election. In 2000, Manchin was elected secretary of state of West Virginia.
Business career
In 1988, Manchin co-founded the waste coal brokerage company Enersystems in Fairmont, West Virginia. He served as president of the company until 2000. Enersystems constitutes more than 70% of Manchin’s investment income and about 30% of his net worth.
Governor of West Virginia
In 2004, Manchin ran for governor of West Virginia for the second time. Capitalizing on a scandal that destroyed incumbent Democratic Gov. Bob Wise’s re-election prospects, he won the Democratic primary and then the general election by wide margins. Manchin won re-election in 2008 by defeating Republican candidate Russ Weeks.
US senator
In 2010, Manchin ran for the U.S. Senate seat vacated by West Virginia Democrat Robert Byrd, who had recently died. He ended up winning the seat in a special election by defeating Republican businessman John Raese. Manchin served a two-year term in the Senate, filling out the remaining years of Byrd’s term, before being re-elected to a full term in 2012. He was re-elected again in 2018, defeating West Virginia Attorney General Patrick Morrisey. Manchin decided not to seek a fourth Senate term in 2024 and announced that he would leave the Democratic Party to become an independent.
During his tenure as senator, Manchin was considered the most conservative member of the Senate Democratic caucus, as he regularly voted with Republicans. He opposed Obama’s energy policies, supported Trump’s border wall and immigration policies, voted to confirm most of Trump’s judicial and Cabinet appointees, and opposed Biden’s For the People Act and Build Back Better Act. However, Manchin sometimes voted more in line with his fellow Democrats, including his vote against the Tax Cuts and Jobs Act and his votes to convict Trump in his two impeachment trials. During the 117th and 118th Congresses, Manchin was a crucial swing vote in a Senate evenly divided between Democrats and Republicans.
Political positions
Manchin has described himself as a “centrist, moderate, conservative Democrat.” His conservative positions include his pro-life stance, anti-immigration views, support for the coal industry, and support for the NRA. Manchin’s more progressive positions include his opposition to American military interventionism abroad.
personal life
Joe married Gayle Heather Connelly in 1967. They have three children. His daughter Heather served as CEO of pharmaceutical company Mylan from 2012 to 2020. Joe drives an $80,000 Maserati Levante.
Real estate
When he and Gayle are in Washington, DC, they live aboard a $250,000 houseboat called “Almost Heaven.” Manchin has owned the yacht since 2013.
In Charleston, West Virginia, the couple owns a modest townhouse, and in January 2021, Joe and Gayle paid $765,000 for a house facing the Kanawha River, also in Charleston.
All net worths are calculated using data extracted from public sources. When provided, we also incorporate private advice and feedback received from celebrities or their representatives. While we work diligently to ensure our figures are as accurate as possible, unless otherwise stated, they are estimates only. We appreciate all corrections and comments using the button below.