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How Asa Hutchinson Achieved a Net Worth of $5 Million

William Asa Hutchinson is an important Republican politician who has worked for Arkansas in many different roles over the years. He is currently the governor of the state and has served since 2015. He earns a salary of about $151,000 per year as a governor. But what exactly is Asa Hutchinson net worth and how he has made his money? Taking a deep look into this topic can help Arkansas residents better understand their governor and the different paths that his career has taken over the years.

Asa Hutchinson Net Worth

Asa Hutchinson net worth estimates vary wildly from source to source, with some claiming he's worth around $500,000, while others guess a far higher value. The most commonly agreed-upon value is about $5 million, which makes sense considering his lengthy career before becoming a politician. While Hutchinson has been involved in politics for many years before becoming governor, he was also a lawyer and business person who worked in many different fields over the years.

Taking a deep look at his career is fascinating because it highlights the hard work that Hutchinson has put into his political office and the unique ways that he has helped Arkansas residents for years. Just as importantly, it can provide his voters with a better understanding of where he gets his money and how politics works in general. This information is critical in a day when misinformation runs rampant.

His Career and How It Has Changed

Asa Hutchinson has had a very in-depth career since being born in Bentonville, Arkansas in 1950. Hutchinson joined Bob Jones University in 1972 and earned a bachelor's degree in accounting from this respected school. He then moved on to the University of Arkansas School of Law, where he earned a Juris Doctorate and later transitioned to a career as a lawyer in Arkansas.

His first position was as a city attorney in his hometown of Bentonville, where he worked from 1977 to 1978. Hutchinson's professionalism and skill caught the attention of political figures very early and, by 1982, then president Ronald Reagan was impressed by the young lawyer. He appointed Hutchinson to be the U.S. Attorney of the Western District of Arkansas from 1982 to 1985.

This appointment made Hutchinson a big name in the legal field for a few reasons. First, it gave him control of a significant portion of Arkansas' legal system. Furthermore, it gave him an insight into the field that few people of his age ever receive: when appointed in 1982 at the age of 32, Hutchinson was the youngest U.S. Attorney ever appointed for his district, a record he held for many years.

Due to his early success in this field and his interest in politics, Hutchinson was set up for a potential career in politics later in life. For many years after his appointment, though, he continued to work as a lawyer, though he was involved in local Republican races. For example, he was a heavy supporter of various Republican governor candidates and even endorsed multiple Republican presidential candidates over the years.

Starting His Political Career

In 1997, Asa Hutchinson won a seat in the House of Representatives and served the Third Congressional District for Arkansas from 1997 to 2001. Interestingly, he was not the first member of his family to serve this role. His brother Tim earned a seat in the same district in 1992 after the long-running representative, John Paul Hammerschmidt, retired. After winning two terms, Tim decided not to run for re-election in 1996.

His first race was closer than expected, though he won 55% of the vote in the largely Republican district. Since then, Republicans have easily won that seat with a vast majority of the vote. Hutchinson earned 80% of the vote for his next time and served this role until 2001. It was in that year that he found himself earning a bigger political role, in spite of Tim's unsuccessful senate re-election campaign in 2002.

It was in 2001 that then president George Bush named him as the Director of the Drug Enforcement Administration. Hutchinson served this role until 2003 and then became the undersecretary for border and transportation security at the U.S. Department of Homeland Security the same year and served until 2005. It was in that year that he started a few businesses that helped expand his financial earnings and Hutchinson mostly stayed out of politics for 10 years until his run for Arkansas governor.

Winning a Governorship

Asa Hutchinson ran for and won the seat of governor in Arkansas on January 13, 2015. His win was pretty big, as he won 55% of the vote and has continually stayed on as governor since his win. He won 65% of the vote in 2018 and helped the Republicans bounce back from what was otherwise a rough year for many candidates. The Blue Swing of that year affected many states, but not Arkansas.

Since then, Asa has remained a consistent supporter of various Republican causes. Though he has mostly stayed out of the limelight and simply worked to serve his population, there are a few decisions he's made over the years that have raised some eyebrows. Though not career-ending, they went against the grain of expectations, though Hutchinson gave complete explanations for each decision.

Hutchinson's COVID-19 Decisions

During the early days of the COVID-19 pandemic, Asa Hutchinson controversially decided not to issue a stay-at-home order while other governors were doing so. He explained that he didn't believe that the order was necessary for the state in those early days because the state had a low population density. Hutchinson said he would be open to that decision and did close schools and expanded testing.

At the time, many applauded his cautious choice to avoid closing the state, while others thought he needed to be more aggressive with how he approached the virus. Since then, Hutchinson has continued to support various anti-COVID measures, such as increasing vaccination rates and better testing options for people who need it.

Business Success

Beyond his political career, Hutchinson has also had success in various business ventures. For example, he founded Hutchinson Group LLC in Little Rock in 2005. This consulting firm was designed to provide help for people interested in investing and other unique business ventures. In the same year, he also accepted a one-year contract with Venable LLP as a Homeland Security professional.

He rejoined the company in 2007 and used the money he earned here and with Hutchinson Group to invest in a variety of different businesses. For example, he invested $2,800 in Fortress America Acquisition Company in 2006. After selling his stock when the company went public, he made over $1 million, which is a major part of his current net worth and important to his overall worth.

Asa has also invested in multiple other businesses during his career, finding different ways to continue making money. This has helped his net worth increase over the years. Meanwhile, his salary with the House of Representatives, as a governor, and in his other political offices have also helped. However, it is his legal and business experience that gave Hutchinson the majority of his net worth.

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Allen Lee

Written by Allen Lee

Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language.

Read more posts by Allen Lee

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