Elizabeth Vargas net worth and salary: Elizabeth Vargas is an American journalist who has a net worth of $3 million dollars. Elizabeth Vargas was born in Paterson, New Jersey, and moved around a great deal with her military family. She lived in Germany and Belgium, as well as the United States. She graduated from the University of Missouri with a degree in Journalism. While at the university she began her broadcasting career working for WOMU-TV. From there, she went on to work for WBBM-TV in Chicago. After four years at WBBM, she began working for NBC News, serving as a correspondent and sub anchor. Then she moved to ABC where she was subsequently tapped to serve as a newsreader for "Good Morning America". She then became the weekend anchor for "World News Tonight". She went on to co-anchor "World News Tonight", after the death of Peter Jennings. She remained with the evening news program until 2006, when she resigned abruptly. She currently hosts multiple specials on ABC, and co-anchors "20/20″.