Joe Manchin Net Worth

What is Joe Manchin's Net Worth?

Joe Manchin is an American politician who has a net worth of $8 million. Joe Manchin is a Democrat who was elected to the US Senate representing West Virginia in 2010. Prior to being elected to the Senate, Manchin was the 34th governor of West Virginia, serving from 2005 to 2010. He was a West Virginia state Senator from 1986 to 1996

During his time in the Senate, Joe has earned headlines for his opposition to causes that are traditionally supported by his fellow Democrats, notably Medicare for All and raising the minimum wage to $15 per hour. He is also famously opposed to abolishing the filibuster and packing the Supreme Court.

In 2021, Joe Manchin became somewhat of a national figure for his opposition to Joe Biden's "Build Back Better" plan. Manchin's "no" vote effectively killed the bill.

Finances and Income

When he was first elected to the Senate in 2010, Manchin estimated his net worth at $6 million. According to his most recent US Senate financial disclosure, Manchin's net worth is in the $7-8 million range. That made him one of the 20 richest people in the Senate.

Manchin is the founder of a coal brokerage firm called Enersystems. His non-public shares of the company are responsible for roughly 30% of his net worth. According to his 2020 financial disclosure, his shares are worth $1-5 million, depending on the coal market. That disclosure further revealed that Manchin received $5.2 million worth of Enersystems dividends between 2011 and 2020. In 2020, his company's dividend was $500,000.

Senate Salary

As a senior Senator, Joe Manchin's salary is $174,000.

(Photo by Jim Watson-Pool/Getty Images)

Early Life and Education

Joseph Manchin III was born on August 24, 1947 in Farmington, West Virginia as the second of five children of Mary and John. He has Italian and Czech ancestry. After graduating from Farmington High School, Manchin attended West Virginia University on a football scholarship. However, an injury ultimately ended his football career, and he graduated in 1970 with a Bachelor of Business Administration degree.

Political Beginnings

In 1982, Manchin was elected to the West Virginia House of Delegates. Four years later, he was elected to the West Virginia Senate, where he served until 1996. Manchin ran for West Virginia governor for the first time in 1996, but lost the primary to Charlotte Pritt. He subsequently supported the Republican candidate, Cecil Underwood, who went on to win the general election. In 2000, Manchin was elected secretary of state of West Virginia.

Business Career

In 1988, Manchin co-founded the waste coal brokerage company Enersystems in Fairmont, West Virginia. He served as president of the company until 2000. Enersystems constitutes over 70% of Manchin's investment income and around 30% of his net worth.

Governor of West Virginia

In 2004, Manchin ran for governor of West Virginia for the second time. Taking advantage of a scandal that ended the reelection prospects of incumbent Democratic governor Bob Wise, he won the Democratic primary and then the general election by wide margins. Manchin sailed to reelection in 2008 by defeating Republican candidate Russ Weeks.

US Senator

In 2010, Manchin ran for the seat in the US Senate left by West Virginia Democrat Robert Byrd, who had recently passed away. He ended up winning the seat in a special election by defeating Republican businessman John Raese. Manchin served a two-year term in the Senate, completing Byrd's remaining term years, before being reelected to a full term in 2012. He was reelected again in 2018, defeating West Virginia attorney general Patrick Morrisey. Manchin chose not to seek a fourth Senate term in 2024, and announced that he would be leaving the Democratic Party to become an independent.

During his tenure as a senator, Manchin was considered the most conservative member of the Senate Democratic caucus, as he regularly voted with Republicans. He opposed Obama's energy policies, supported Trump's border wall and immigration policies, voted to confirm the majority of Trump's cabinet and judicial appointees, and opposed Biden's For the People Act and Build Back Better Act. However, Manchin sometimes did vote more along the lines of his fellow Democrats, including his vote against the Tax Cuts and Jobs Act and his votes to convict Trump in both of his impeachment trials. During the 117th and 118th Congresses, Manchin was a crucial swing vote in a Senate split evenly between Democrats and Republicans.

Political Positions

Manchin has described himself as a "centrist, moderate, conservative Democrat." His conservative positions include his pro-life stance, anti-immigration views, support of the coal industry, and support of the NRA. Manchin's more progressive-leaning positions include his opposition to overseas American military interventionism.

Personal Life

Joe married Gayle Heather Conelly in 1967. They have three children. Their daughter Heather served as CEO of pharmaceutical company Mylan from 2012 through 2020. Joe drives an $80,000 Maserati Levante.

Real Estate

When he and Gayle are in Washington, D.C., they live aboard a $250,000 houseboat named "Almost Heaven." Manchin has owned the yacht since 2013.

In Charleston, West Virginia, the couple owns a modest townhome, and in January 2021, Joe and Gayle paid $765,000 for a riverfront home on the Kanawha River, also in Charleston.

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