Mike Pence Net Worth: Political Career, Vice Presidency & Lifestyle

The former vice president of the United States Of America, Mike Pence’s net worth is $1 Million.

A well-known American politician Mike Pence has served as Donald Trump‘s Vice President.

Michael Richard Pence is the third most renowned and fifth most popular Republican.

He was Indiana’s 50th governor as well as a member of the Republican Party.

As Governor of Indiana, Mike Pence delivered on promised tax cuts.

Mike Pence posing for a picture (Source: Pinterest)

Aside from his political career, Mike is also a broadcaster as well as a lawyer.

Pence was born in Columbus, Indiana, to Edward Pence, a US Army veteran, and his wife, Nancy.

Mike grew up in a close-knit household that backed President John F. Kennedy and went to a Catholic school.

His older brother Greg Pence is the U.S Representative.

Quick Facts

Before we get to Mike Pence’s net worth and income, let’s have a glimpse into his private life.

Mike Pence Net worth and Income

Mike Pence Net Worth

Former Vice President Mike Pence is a millionaire American politician.

As of August, 2023 Mike Pence net worth is $1 million.

For his 12 years in the House and two years as Vice President, Pence is currently eligible to receive an estimated $50,000 a year from the federal government for the rest of his life.

The politician revealed his worth in August 2016, as part of his financial declaration.

Mike Pence’s net worth is mostly comprised of a $500 thousand pension.

The majority of the wealth came from Mike’s pay as Indiana governor.

Before becoming VP, the governor’s pay in Indiana was $173,860 in 2015.

Mike and his wife Karen made a combined $113,026 in adjusted gross income in 2015, according to a financial statement published in 2016.

It would be $173,860 before deductions.

They also received around $9,000 from a pension fund/annuity.

First Lady of Indiana, potentially Second Lady of the United States Karen Pence, owns That’s My Towel Charm, Inc.

Pence couple claimed a $3,500 loss from Karen’s business, as well as $80,000 in debt from their children’s schooling.

Between 2009 and 2016, they made at least $100,000 each year.

They made $187,500 in 2009 and 2010.

Mike Pence State Pension

Pence resigned from Congress in 2013 to become the governor of Indiana.

The politician only served one term in the state legislature before being chosen, vice president.

He is entitled to 30% of his income for the remainder of his life for those four years of gubernatorial service.

Mike Pence can collect 40% if he waits until he’s 65 to retire.

Pence made roughly $112,000 in his final year as governor.

Therefore, Indiana will owe him around $35,000 every year beginning at age 62, for a total of at least $500,000.

Mike Pence Net Worth in Different Currencies

Let’s take a closer look at Mike Pence’s net worth in various currencies, including the cryptocurrency.

Mike Pence House, Cars and Aircrafts

House

Former Vice President Mike Pence is spending his post-vice-presidential days with his beloved wife Karen Pence, in a home they bought in Hamilton County.

It costs Pence $1.93 million. The million-dollar 10,300-square-foot house lies on a 5-acre site on Carmel’s northwest side.

Mike Pence home In Hamilton(Source: Pinterest)

The mansion boasts seven bedrooms, 7.5 bathrooms, and an in-ground pool in the house.

There’s also a beautiful pond with a duck and an indoor basketball court, as well as a media room on the lower floor.

Cars

Although Mike is a millionaire politician, he has not disclosed information about his cars and automobiles.

Mike Pence motorcade (Source: indystar.com)

During his time at the White House, Mike Pence generally used an eight-car motorcade.

His motorcade went to the places of the US where no other motorcade had been done before.

Aircraft

He used Air Force two during his tenure as Vice President.

Since its commercial equivalent is Boeing 757, the aircraft costs $100 million.

Pence celebrated his fifty-eighth birthday in the aircraft.

Mike Pence Lifestyle and Vacations

Pence married his wife Karen in 1985.

The power couple has three grown children Michael, Charlotte, and Audrey.

Karen, a former elementary school teacher, has also been active with youth-related charity groups.

The politician is well-known for his affection for pets.

Mike pence Posing with his daughter and wife holding their pets(source: Pinterest)

The two have cats and a rabbit and are frequently seen with them in public.

Mike Pence’s daily itinerary as Vice President of the United States was subject to vary depending on whether he was traveling or not.

However, some of his long-term behaviors provide a decent insight into what an ordinary day for the politician would look like.

He relaxes with popcorn at work and a pizza and non-alcoholic beer on Friday nights.

Charity

Mike Pence constantly involves himself in charity works.

Since Donald Trump’s election, Planned Parenthood has received more than 315,000 donations.

More than eighty-two thousand donations were given in the name of governor Mike Pence.

According to information provided to the Cut by a spokesperson, “Mike Pence” has contributed 26 percent of all donations to Planned Parenthood since the election.

Mike Pence charity (source: abcnews.go.com)

In 2015, he paid an effective tax rate of 12.4 percent.

Pence gave about nine thousand dollars to charity, from his income.

Pence’s charitable giving is more than wealthy taxpayers.

On November 30, that ratio was 28 percent, or $72,000 donations out of over $260,000, whereas, on November 15, it was 12.5 percent or $20,000 donations out of $160,000.

It’s wonderful that Pence’s name is being used to help women for the first time.

Mike Pence Investments, Endorsements & Book Publications

Mike Pence has limited experience in the business world.

Instead, he has spent two decades working for the government and relying on large, taxpayer-funded pension plans to support his retirement.

Investments

In 2004 that Pence owned a stake in Kiel Bros worth between $200,000 and $450,000.

The value of the shares sank to zero the following year when the company went bankrupt.

Although he helped the company to grow more, he was not directly involved in the business.

His brother Greg Pence became the president of the company.

Furthermore, he also held some of the stocks of Indiana gas stations.

Pence may have inherited those shares from his father, who was an early staff of the company.

According to his 2006 tax forms, Pence, who had only a few thousand dollars in savings, accumulated more than $600,000 in losses from the firm failing.

Endorsement

Endorsements often include appearances in television commercials, radio commercials, fundraising events, and campaign rallies.

They also include official statements of support from Pence or his re-election campaign and tweets that explicitly state that he supports or endorses a candidate’s presidential bid.

Pence’s endorsements are classified into three categories which are General endorsement, Special election endorsements and endorsements in the battleground.

All of these endorsements appear in both general and special elections.

Book Publications

Mike Pence has reportedly signed a multimillion-dollar two-book deal for his memoir.

Consequently, it makes him one of the first members of former President Donald Trump’s closest circle to do so.

According to CNN, the former vice president’s contract is valued between $3 million and $4 million.

Pence’s book, which has yet to be named, is set to be released in 2023.

Career

The governor grew up in a family that is Democratic Party supporters, which he embraced as a child.

Pence is the 48th Vice President of the United States (2017–21) under President Donald Trump’s Republican government.

Despite certain political and personal differences, Pence has stayed high in his loyalty to Donald Trump.

Moreover, Pence previously served as the governor of Indiana from 2013 to 2017.

He went into private practice after graduating from Indiana University with a law degree in 1986.

Throughout his six terms in Congress, he was recognized for his social conservatism; he frequently claimed that he was a “Christian, a conservative, and a Republican, in that order.”

3 Facts about Mike Pence

• Former Vice President Mike Pence loves bacon. Actually, it is his favorite food.
• Pence also hosted a discussion radio show named ‘The Mike Pence Show,’ which was broadcasted on 18 different radio stations around Indiana.
• His favorite film is the American classic The Wizard of Oz.

FAQs

Where is Mike Pence now?

Mike Pence is living in northern Virginia and is planning to move to Indiana.

Is Mike Pence married more than once?

No, Mike Pence is happily married. He does not even go to eat alone with a woman other than his wife.

Who was Mike Pence’s father?

Pence’s father was a Korean war veteran. His name was Edward Pence.

Categories: Net Worth
Source: ASIA EDU