Politics has been said to be a dirty game played by gentlemen. It seems to be all about fame and making money since we all know the politicians to be people from the wealthy social class. Bernie Sanders is one democrat who has amassed his wealth from his political career in various elective seats. Bernie Sanders net worth is at $2.5 million, making him among the millionaires in the US. Unlike other politicians who get rich through misappropriation of public funds, Sanders’ wealth is from his hard work. The millions that Bernie possesses is not in the form of cash and visible assets only. He has invested a lot in his people through health care, paying the college fee for the students and by social services that he provided for his people. Let us look at his journey to the massive wealth.
Net Worth $2.5 Million Name Bernard Sanders Age 78 Born Brooklyn, New York City Birth Date September 8, 1941 Source of Wealth American Politician Country United States
Real estate is one very profitable business. A high capital is required to invest, but the returns are good. With the salary that he got from his job in the government, Sanders also ventured into real estate business with his wife. The gains from both of them are lucrative and enough to be used in real estate. He buys properties at a lower price and later sells them at a profit. In 2007, he bought a house in DC with a total cost of $489,000 and another one in 2009 for $405,000. Recently in 2016, he purchased a four-bedroom home. He sold a house that was owned by his family since 1900 and added some money from his savings to buy a new one. He now has three apartments in total.
The properties once available for sale appear as adverts in the leading business websites in the US. Bernie has proposed a tax on wealthy Americans, including the ones that have properties of high value. Once the proposal is approved, it is going to affect his wealth since he is part of the 0.2% rich Americans. Bernie and his wife Jane Sanders who is a retired civil servant, worked in unity to ensure that they got what they desired. The three houses that they own are luxurious apartments. Jane Sanders bought one of the flats on her own before they got married and they later owned it jointly as from 1988. The last house that they purchased is mainly for their grandchildren.
Besides our jobs, investing is very important for financial breakthrough. Before joining Congress, Bernie had a small business that involved making filmstrips. Engaging in the film making industry was before he entered politics, and Sanders was still a teacher and a writer. The filmstrips were mainly for the schools in New England. The returns of the business were not much enough to make him wealthy, but it became a stepping stone for his professionalism. The interaction with people while doing business became the foundation for his entry into politics.
According to Garnet News, he wanted to invest in Wall Street, but he found that the business seemed to be a fraud. He trusted the big banks, and he owns holdings in the big banks in the US. He also has investments in the pharmaceutical companies that have done well over the past years. He was not expecting much profits from the pharmaceutical companies, but he has ended up enjoying substantial earnings from the same. Fossil fuels have also been part of his investments. Through oil and gas products, he is in the position to enjoy more profits from the business.
Government pension and salaries
Being in a government’s office, Sanders is pensionable. Apart from the monthly salary of $174,000, he is also entitled to a premium of $73,000 per year throughout his life. He also receives a city pension of $428 a month since he used to work in Burlington as a mayor where he used to get a salary of $33,700 per year. In 1990, he got an election to the seat of representatives in Vermont, and his salary almost tripled to about $96,000. Later in 2006, when he ran for the senate seat, he won, and his salary rose to $165,000. The retirement savings and pension total up to $1 million. In his bid for the presidency in 2020, he is expecting to get donations from friends that will facilitate his campaign. He is not, however going to accept contributions from the political groups.
Sale of his books
Sanders wrote best-selling books, including A Future To Believe In and Our Revolution. He believes anyone can be a millionaire through the writing of books. When Sanders joined the Democratic Party, his profile became known to people. When he went ahead to write books that competed favorably in the market and attracted a high number of customers, he earned a total of $17 million from the sale of the three books.
The first book, which was Our Revolution made total sales of 220,000 copies which generated a total of $795,000 in advance. The book was his best-selling book and became one among the trending books at that time. The second book, which was Guide to Political Revolution made a total sale of 27,000 copies, and his last book made a complete sale of 26,000 copies. The purchase of these books is indeed profitable for him although they have been on a downward trend.
Earning from his album
Sanders recorded an album titled “We shall overcome” that was focusing on the politics in the US. He was against the idea of social classes where there was a difference between the rich and the poor. He wanted to bridge the gap by use of progressive taxation on the income of the individuals. His album got in the market, and it attracted a large number of buyers. Many of the people who were supporting his ideas promoted the album by buying it, thereby boosting his earnings by far.