Accuracy in Media

Forbes Magazine published a list of every presidential candidates’ net worth this week, including President Donald Trump, and the list also revealed which candidates were transparent about their personal finances and those who were not as transparent.

The list, headlined, “Here’s The Net Worth Of Every 2020 Presidential Candidate,” said that there were some surprises, “Bernie is a millionaire. So is “middle-class Joe” Biden. Elizabeth Warren is richer than both of them, worth an estimated $12 million. But she’s a long way from John Delaney, whose $200 million fortune makes him twice as wealthy as every other Democratic candidate not named Tom Steyer. The hedge fund tycoon, who announced his candidacy in July 2019, is worth an estimated $1.6 billion.”

Forbes said the average net worth is $12.9 million, which was the same as the 2016 presidential candidates. The median net worth is $2 million, and the poorest candidate is South Bend, Indiana mayor Pete Buttigieg. Buttigieg has a net worth of $100,000, which Forbes said is “about 0.003% of Trump’s fortune.”

The magazine pointed out that not every candidate answered every question sent to them, which led the magazine to rank the candidates by transparency. The transparency scale is from 0 (lips sealed) to 5 (full disclosure).

Here are the rankings:

  • Donald Trump: $3.1 billion, 0/5 transparency score
  • Tom Steyer: $1.6 billion, 1/5
  • John Delaney: $200 million, 2/5
  • Michael Bennet: $15 million, 2/5
  • Elizabeth Warren: $12 million, 4/5
  • Joe Biden: $9 million, 4/5
  • Kamala Harris: $6 million, 4/5
  • Joe Sestak: $6 million, 4/5
  • Robert “Beto” O’Rourke: $4 million, 3/5
  • Bill De Blasio: $2.5 million, 3/5
  • Bernie Sanders: $2.5 million, 4/5
  • Jay Inslee: $2 million, 4/5
  • Amy Klobuchar: $2 million, 4/5
  • Cory Booker: $1.5 million, 4/5
  • Steve Bullock: $1.5 million, 3/5
  • Marianne Williamson: $1.5 million, 3/5
  • Kirsten Gillibrand: $1 million, 3/5
  • Seth Moulton: $1 million, 2/5
  • Andrew Yang: $1 million, 2/5
  • Julian Castro: $700,000, 2/5
  • Tulsi Gabbard: $500,000, 2/5
  • Tim Ryan: $500,000, 3/5
  • Pete Buttigieg: $100,000, 4/5

Forbes did not rate a single candidate as being completely transparent on their transparency rating scale, yet their findings illustrate how wealth is a part of politics in the nation’s capital. For example, the majority of candidates are serving in Congress and their net worth is far above that of the average American.

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