Gavin Newsom tax returns released for the first time in years show that California Gov. Gavin Newsom and First Partner Jennifer Siebel Newsom have earned more than $11 million since Newsom took office in 2019.
The disclosure comes after years of criticism over the couple’s refusal to release their tax records. The documents were made public only after the Trump administration reportedly began examining organizations connected to Jennifer Siebel Newsom, prompting renewed scrutiny of the governor’s finances.
According to the Los Angeles Times, Newsom and his wife released their joint federal tax returns for 2021 through 2024. Combined with records previously released for 2019 and 2020, the filings show the couple reported at least $11 million in total income during Newsom’s tenure as governor.
Home Sale Boosted Earnings in 2021
The Gavin Newsom tax returns show the couple’s highest-earning year was 2021.
That year, they sold a home in Marin County for approximately $5.9 million, generating an estimated $800,000 profit.
Their total reported income reached $4.2 million, and they paid more than $1 million in combined federal and California income taxes.
From 2022 through 2024, the couple reported annual income ranging from $1.7 million to $2 million.
Newsom’s gubernatorial salary increased from $167,647 in 2021 to $192,087 in 2024. He also earned more than $150,000 in royalties from books, including Young Man in a Hurry.
Investments Generated Most of the Income
The tax filings indicate that most of the family’s income came from long-held investments, including wineries and restaurants in the San Francisco Bay Area, Napa Valley, and the Lake Tahoe region.
Jennifer Siebel Newsom earned an annual salary of approximately $145,000 to $150,000 from The Representation Project, the nonprofit organization she founded.
However, her production company, Girls Club Entertainment, reported financial losses in recent years.
Release Follows Federal Scrutiny
The release of the Gavin Newsom tax returns came just weeks after the Trump administration reportedly began reviewing Jennifer Siebel Newsom’s nonprofit organization and production company.
At the time, Newsom criticized the federal inquiry as politically motivated and said he would release the couple’s tax returns in response.
The newly disclosed filings are expected to draw renewed attention as Newsom continues to face national political scrutiny while remaining one of the Democratic Party’s most prominent governors.
