Gavin Newsom Releases Long-Delayed Tax Returns Showing Millions In Annual Income
California Gov. Gavin Newsom released four years of long-awaited tax returns on Thursday, revealing that he and First Partner Jennifer Siebel Newsom earned between $1.7 million and $2 million annually from 2022 through 2024 while paying roughly half a million dollars each year in combined federal and state income taxes. The disclosure comes amid ongoing federal scrutiny of the couple’s finances and speculation about Newsom’s political future.
The filings show Newsom’s salary as governor accounted for only a small portion of the family’s income. Most of their earnings came from investment income generated by Newsom’s winery, restaurant, and hospitality businesses, which he placed into a blind trust after taking office in 2019. Jennifer Siebel Newsom also reported income from her work as a filmmaker and nonprofit executive, though several of her business ventures reported financial losses during the period.
The returns also detail the family’s financial obligations and charitable giving. The Newsoms paid between approximately $523,000 and $760,000 in combined federal and state income taxes each year from 2022 through 2024. They also donated between $40,000 and $65,000 annually to charitable organizations, including cash contributions and donations of clothing, toys, and household goods.
The tax release follows months of pressure after Newsom pledged to make the documents public while the Department of Justice investigates aspects of his family’s finances. Newsom has dismissed the federal inquiries as politically motivated and has denied any wrongdoing, arguing the investigation is tied to his expected national political ambitions.
The governor’s office released more than 700 pages of tax filings covering 2021 through 2024, though the couple’s 2025 return has not yet been completed because they requested a filing extension until October. It marked the first time Newsom has publicly released his tax returns since 2022, fulfilling a promise he made earlier this year after criticism over the delay.
The disclosure arrives as Newsom continues to be mentioned as a potential Democratic presidential candidate in 2028. With his finances now public, attention is expected to remain focused on both the ongoing federal investigation and the governor’s future political plans as his second term in Sacramento draws closer to its conclusion.