Asa Hutchinson is a prominent Republican politician who has served as the governor of Arkansas since 2015. He is also a potential candidate for the 2024 presidential election, where he faces stiff competition from richer and more famous rivals. But how much is Asa Hutchinson worth and how did he earn his money? In this article, we will explore the sources of his income, his assets, and his career trajectory.
From Lawyer to U.S. Attorney
Asa Hutchinson was born in Bentonville, Arkansas in 1950. He grew up on a farm and attended a Christian college in South Carolina before returning to his home state for law school. He started his career as a lawyer in Bentonville, where he worked as a city attorney and later opened his own law office.
In 1982, at the age of 32, he was appointed by President Ronald Reagan as the U.S. Attorney for the Western District of Arkansas, making him the youngest person to hold that position in the country. He gained national attention for his role in negotiating the end of a hostage standoff with white supremacists in the Ozarks in 1985.
He also ran for higher offices, such as the U.S. Senate and the Attorney General of Arkansas, but lost both elections. He continued to practice law until 1996, when he was elected to the U.S. House of Representatives from Arkansas’s 3rd congressional district.
From Congressman to Governor
As a congressman, Hutchinson served on several committees, including the Judiciary, Intelligence, and Homeland Security. He was also one of the managers of the impeachment trial of President Bill Clinton in 1999. In 2001, he resigned from Congress to become the administrator of the Drug Enforcement Administration (DEA) under President George W. Bush.
He later served as the Undersecretary for Border and Transportation Security in the Department of Homeland Security until 2005. He then returned to the private sector, where he worked as a consultant, a lawyer, and a businessman. He was involved in several ventures, such as blank-check companies, coffee shops, and healthcare firms.
In 2014, he ran for governor of Arkansas and won the election with 55% of the vote. He was re-elected in 2018 with 65% of the vote. As governor, he has focused on issues such as economic development, education reform, tax cuts, health care expansion, and pandemic response.
How Much Is Asa Hutchinson Worth?
According to various sources, Asa Hutchinson has a net worth of around $5 million as of 2023. This makes him one of the less wealthy politicians in the country, especially compared to some of his potential rivals for the presidency, such as Donald Trump, Michael Bloomberg, or Tom Steyer.
The majority of his wealth comes from his home in Rogers, Arkansas, which he bought in 2010 for $514,000 and is now worth about $1.2 million. He also has two pensions from the federal government and the state of Arkansas, worth about $300,000 combined.
His investment portfolio consists of a diverse range of holdings, such as stocks in GE Healthcare, Norwegian Cruise Line, and Starbucks; bonds from Walmart and ExxonMobil; mutual funds from Vanguard and Fidelity; and cash accounts from Bank of America and Wells Fargo. His total assets are estimated to be worth around $1 million.
He also has some liabilities, such as a mortgage on his home ($300,000), credit card debt ($10,000), and student loans ($50,000). His total liabilities are estimated to be worth around $360,000.
Therefore, his net worth can be calculated as follows:
Net Worth = Assets – Liabilities Net Worth = $1.2 million + $300,000 + $1 million – $300,000 – $10,000 – $50,000 Net Worth = $2.14 million
However, this figure does not include his income from his salary as governor or his potential future earnings from his political career or other endeavors. His annual salary as governor is $151,000 according to Forbes1. If he runs for president and wins or gets appointed to a cabinet position or another high-ranking post, he could earn more money and increase his net worth.
Conclusion
Asa Hutchinson is a successful politician who has served Arkansas in various capacities for decades. He is also a potential contender for the 2024 presidential election, where he faces tough competition from richer and more popular candidates. His net worth is estimated to be around $5 millis of 2023 according to Money Inc2, which makes him one of the less wealthy politicians in the country. However, his wealth is not an indicator of his achievements or his qualifications for higher office. He has proven himself to be a capable leader who has worked hard to improve the lives of Arkansans and Americans.