Lincoln Chafee Net Worth

What is Lincoln Chafee's Net Worth?

Lincoln Chafee is an American politician who has a net worth of $50 million. Lincoln Chafee served as the governor of Rhode Island from 2011 to 2015, a US Senator from 1999 to 2007, and the mayor of Warwick, Rhode Island from 1993 to 1999. He unsuccessfully ran for president as a Democrat in the 2016 elections and as a Libertarian in 2020.

Early Life and Education

Lincoln Chafee was born on March 26, 1953 in Providence, Rhode Island to Virginia and John. His father, a Republican politician, would go on to become the governor of Rhode Island, the secretary of the Navy, and a US Senator. Many of his forebears were also in government, including his great-great-grandfather Henry Lippitt and his great-great-uncle Charles Lippitt, both of whom served as governor of Rhode Island.

Chafee attended public schools in Warwick and also attended the Providence Country Day School and Phillips Academy. For his higher education, he went to Brown University, where he captained the wrestling team and studied classics. After graduating with his Bachelor of Arts degree in 1975, Chafee enrolled in a non-degree horseshoeing program at Montana State University. Over the next seven years, he worked as a farrier at harness racetracks throughout the US and Canada.

Start of Political Career

Chafee began his political career in 1985 as a delegate to the Rhode Island Constitutional Convention. The following year, he was elected to the Warwick City Council; Chafee won reelection in 1988. In 1990, he ran for mayor of Warwick but lost. Chafee ran again in 1992 and was successful, becoming Warwick's first Republican mayor in 32 years. He was reelected in 1994, 1996, and 1998. During his mayoralty, Chafee put significant focus on environmental conservation, green initiatives, and economic development.

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US Senator

When his father John announced he would not seek reelection to the US Senate in 2000, Chafee decided to run for his seat. He took over the seat sooner than anticipated after his father passed away suddenly in late 1999. Chafee went on to win the seat in the general election. Although he won the Republican primary in his reelection bid in 2006, Chafee lost to Democrat Sheldon Whitehouse in the general election that year.

During his tenure in the US Senate, Chafee was known as one of the more liberal-leaning Republicans. He frequently opposed the Republican Party leadership, and was the only Senate Republican to vote against the Authorization for Use of Military Force Against Iraq Resolution of 2002. Chafee also voted against George W. Bush's tax cuts and drilling in the Arctic National Wildlife Refuge. He supported environmental protection, abortion rights, same-sex marriage, and gun control.

Post-Senate

After leaving the Senate in 2007, Chafee became a visiting fellow at Brown University's Thomas J. Watson Jr. Institute for International Studies. He also left the Republican Party and became an independent. In 2008, Chafee endorsed Democratic presidential candidate Barack Obama and joined the advisory board of the lobbying group J Street.

Governor of Rhode Island

In 2010, Chafee ran for governor of Rhode Island as an independent and won in a seven-candidate race. After serving as the co-chair of President Obama's reelection campaign in 2012, he officially joined the Democratic Party in 2013. Chafee remained governor of Rhode Island until 2015. During his tenure, he helped bring the state out of its recession and legalized same-sex marriage. In a rare move for an incumbent Rhode Island governor, Chafee chose not to run for reelection.

Presidential Campaigns

In mid-2015, Chafee announced his candidacy for president of the United States as a Democrat. However, after a heavily derided debate performance and dwindling polling numbers, he dropped out of the race in October. In 2019, Chafee left the Democratic Party and became a Libertarian, for which he ran as president in 2020. Like his first presidential campaign, his second didn't last long, and he dropped out of the race in April.

Personal Life

In early 1990, Chafee married Stephanie Birney. They have three children together: Louisa, Caleb, and Thea. The family resides in Teton Village, Wyoming.

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