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How Pete Hegseth Achieved a Net Worth of $19 Million

If you have spent any length of time whatsoever watching Fox News, you are probably already well aware of who Pete Hegseth is. In case you don't tend to watch news that comes from that particular outlet, he's widely associated with the network as one of their most outspoken journalists. As a matter of fact, there have been a number of occasions where he has been quite vocal about his views on various matters. This has essentially polarized him with certain individuals. As is typically the case when people make strong statements, some people have come to love him and others have come to be less than fond of him and his views. That being said, the views of the public have not had a dramatic impact on his overall net worth, one that is estimated to currently be as high as $19 million.

Significant Net Worth

A lot of people who work in journalism can make a significant amount of money, especially if they're at the top of their game. However, it seems that Hegseth’s net worth has taken things to an entirely new level. That's largely because most individuals who work in journalism don't have an opportunity to make quite this much money. The question is, what's different about his situation and how has he managed to accomplish it? For starters, he graduated from Princeton University after receiving a Bachelor of Arts degree in Journalism almost immediately out of high school. That put him on a path to start working his way up the ladder, something that didn't take him very long to accomplish in its own right. After just a few months, he was working at Fox News and he continued to work steadily for that network, hosting their New Year’s special, prime time news and writing for “Fox and Friends: Weekend.” At the same time, he's also a rather gifted author and has written a number of books, including New York Times bestsellers “In the Arena'', “Modern Warriors” and “American Crusade,” all of which have added to his overall net worth.

An Increasing Salary

One of the reasons his net worth has achieved such a level is because he's been getting a salary that's steadily increasing for the last several years. As recently as 2018, his salary from Fox News was only $2 million per year. The next year, that salary increased to $3 million. The following year, in 2020, he was given $5 million to remain at the network, a salary that remained unchanged the next year. However, this year's salary has increased to $6 million, with an additional $2 million bonus added to it. As you can see, it doesn't take very long to get to $19 million when you're making as much as $6 per year (that extra $2 million bonus certainly doesn't hurt anything). Add to that the royalties he makes from book sales and the staggering value of his classic car collection (approximately $830,000), and you have a net worth of approximately $19 million. Just in case you're curious about that car collection, he currently has four cars that are all worth a significant amount of money. As a matter of fact, he has a Tesla Model Y that is worth $55,000, and that is the least valuable car that he owns in this collection. The other three include a Jaguar XF that's worth $125,000; a BMW X9 worth $150,000; and finally, a Mercedes-Benz C43 MG that has been priced at $500,000.

A Luxury Collection of Watches

Hegseth’s car collection isn’t the only asset he has going for him with regard to his net worth. He also sports a rather expensive collection of watches that are estimated to be worth almost $1.2 million collectively. The collection includes a Rolex worth $130,000; a Piaget worth $140,000; a Jaeger Lecoultre worth $300,000; and last but certainly not least, a Hublot that has been estimated to be worth as much as $600,000. All of these high-dollar assets contribute to his net worth. Last but not least, he also served in the U.S. military. That means that he is getting a monthly benefit from them, although it isn’t likely to be a high dollar amount. That being said, every little bit does have to be accounted for when you’re talking about net worth. Therefore, it would be remiss not to mention this. In relation to his service with the military, he has also dabbled in politics. As a result, he was prompted to make his financial statements a matter of public record. When he did, it was confirmed that he is currently making $6 million at Fox News, as previously discussed. It was also revealed that he has roughly $13 million in assets and investments, bringing his total net worth to $19 million. Part of the assets included in these statements involve both the watch and car collections. Furthermore, he owns a number of rental properties in the state of Texas which also contribute to his net worth, although the exact amount is not known in this case.

Significant grow throughout his Career

When Hegseth first started working at Fox News, he was making the bare minimum for employees working in the journalism field. The network had previously set a minimum salary of $50,000 per year for such individuals, and that is precisely what he was being paid. He had only started working for them in 2014 and at the end of that year, his net worth was estimated to be $310,000. Obviously, he has increased his net worth a great deal in the eight years he has been working there. Perhaps the most impressive thing is that he is estimated to have a net worth that exceeds $30 million within the next 12 months, largely because of his annual salary and his investments in assets.

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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