JD Vance Net Worth 2024: The Finances of Trump’s VP Pick

JD Vance is a venture capitalist, author, and politician who has represented Ohio in the US Senate since 2023.

He was selected by Donald Trump as his running vice president at the July 15 2024 Republican National Convention. He became popular with his memoir Hillbilly Elegy: A Memoir of a Family and Culture in Crisis that Ron Howard adapted for Netflix.

After being named Trump’s running mate, Hillbilly Elegy sales surged, topping Amazon’s bestseller list, adding $800,000 to his net worth.

The memoir, which started the day at No. 220, quickly rose to No. 1 in paperback and No. 2 in hardback, although it has sparked some controversy.

JD Vance has an estimated net worth of $7 million in 2024. (which is expected to grow rapidly thanks to his new political position)

Vance’s remarkable rise from a troubled upbringing in rural Ohio to a prominent political figure offers key insights into resilience, opportunity, and the American dream.

Let’s find out more!

JD Vance Net Worth: Full Breakdown

We have a solid idea of JD Vance’s net worth from the filings he made while running for the Senate.

Moreover, we’ve been able to collect plenty of public information surrounding his various sources of income, investments, assets, and business ventures to build a holistic estimate.

Note: Forbes estimates Vance’s net worth at $10 million, while Celebrity Net Worth puts it at approximately $5 million. This disparity highlights the challenges in assessing the wealth of public figures with diverse income sources.

Let’s break it down:

8 Important Facts About JD Vance, Donald Trump’s Vice President

1. First millennial elected VP: JD turns 40 this year. If Donald Trump wins in November, Vance would tie as the second youngest vice president in U.S. history, matching Richard Nixon who was also 40 when he became VP.
2. Military Service: JD Vance served in the Iraq War as a member of the Marine Corps.
3. Best-Selling Author: His memoir, Hillbilly Elegy, became a best-seller and was adapted into a Netflix film by Ron Howard.
4. The Hillbilly Elegy Netflix Adaptation Becomes a Hit: Following the VP announcement, the adaptation saw a 1,180% increase in viewership. On the day Trump named Vance as his running mate, the movie was watched for 19.2 million minutes, a significant jump from 1.5 million minutes the previous day.
5. Early Entrepreneur: Started earning money by selling video games as a teenager.
6. Mentorship: He was mentored by venture capitalist Peter Thiel and worked at Thiel’s Mithril Capital.
7. Family Ties: His cousin, David Benioff, is a co-creator of the popular TV series Game of Thrones.
8. Philanthropy: Known for supporting onshoring of manufacturing and American energy independence. He has been involved in initiatives aimed at revitalizing economically depressed areas and supports organizations focused on education and job training.

Latest Updates and Controversies Surrounding JD Vance

While many people love Trump’s VP pick, he has been part of some controversies in recent times:

JD Vance Faces Backlash for False Claims About Immigrants

Senator JD Vance is under fire for spreading a debunked claim that Haitian immigrants in Springfield, Ohio, were abducting and eating pets.

Months ago, I raised the issue of Haitian illegal immigrants draining social services and generally causing chaos all over Springfield, Ohio.

Reports now show that people have had their pets abducted and eaten by people who shouldn't be in this country. Where is our border czar? pic.twitter.com/rf0EDIeI5i

— JD Vance (@JDVance) September 9, 2024

Vance’s post, which echoed narratives from far-right activists, drew widespread condemnation after local police confirmed no such incidents had occurred.

These unsubstantiated claims, made during a town hall and later circulated online, were quickly debunked by local police.

His remarks fueled online harassment and targeted racist rhetoric against the Haitian community in Springfield. Despite the backlash and evidence proving the claims false, Vance stood by his statements, encouraging his supporters to continue sharing memes amplifying the narrative.

Critics labeled Vance’s remarks as fear-mongering and xenophobic, adding to his controversial stance on immigration.

This incident further tarnishes Vance’s public image amid his increasingly polarizing political career.

The “Hillbilly Elegy” Controversy

Hillbilly Elegy, JD Vance’s best-selling memoir, has sparked considerable controversy, particularly among those from the Appalachian region it portrays.

Many critics, especially Appalachians themselves, argue that Vance’s depiction of their culture is flawed and reductive. A common criticism is that Hillbilly Elegy largely blames the people of the region for their own poverty, focusing on personal failings like lack of ambition or family instability. This narrative, many argue, ignores the broader political and economic factors that have devastated Appalachia, particularly policies from the Reagan era that dismantled industries across the Sunbelt and Rust Belt, leading to widespread job loss, poverty, and the opioid crisis.

Vance’s critics claim that Hillbilly Elegy offers a limited and harmful portrayal of Appalachia, reducing a diverse region to a singular narrative of social decay.

Prominent voices from the region, like author Elizabeth Catte, have noted in an article for The Guardian that the book fails to address the systemic issues – such as deindustrialization, corporate exploitation, and the failures of government policy – that have contributed to the region’s economic struggles. Instead, Vance’s memoir emphasizes individual responsibility in a way that some argue perpetuates negative stereotypes about Appalachian people being lazy or culturally deficient.

This has led many to reject Vance’s narrative, with Appalachian residents and scholars alike asserting, “Vance doesn’t represent us.”

The controversy around Hillbilly Elegy has only intensified as Vance’s political career has risen, with many viewing the book as a vehicle for promoting a political agenda rather than an authentic representation of Appalachian life.

JD Vance’s Political Aspirations and 2024 VP Run

Latest Update: On July 15 2024, Trump announced that JD Vance will be his new Vice President.

While JD Vance’s net worth has undoubtedly grown due to his literary success and venture capital endeavors, his recent foray into politics could potentially boost his profile – and wealth – even further.

Late in the race, Vance emerged as a frontrunner in the Republican “veepstakes” for Donald Trump’s presidential campaign.

The 39-year-old Ohio Senator’s rise in MAGA circles follows a dramatic shift from his earlier criticism of Trump to becoming one of his most vocal supporters.

Vance’s youth and articulate speaking style could balance concerns about Trump’s age, while his Ohio roots might appeal to voters in crucial swing states.

However, Vance’s opportunistic embrace of Trump isn’t without risks.

Some political observers draw parallels between Vance and Chris Christie, another ambitious politician whose alignment with Trump ended in humiliation.

What Were the Odds that JD Vance is Elected VP?

Many analysts thought that Vance was a relatively poor candidate for Trump’s VP as he seemed to bring little to the table. His home state, Ohio, would have assuredly voted for Trump without him.

According to Oddschecker, Vance had overtaken previous favorite Doug Burgum, the Governor of North Dakota.

Leon Blackman, an Oddschecker spokesperson, noted, “In the last 24 hours, Vance is the most popular pick on Oddschecker to be Trump’s VP, taking 18% of all bets placed.”

Multiple prediction markets echo this sentiment:

• PolyMarket gave Vance a 45% chance of becoming Trump’s pick
• PredictIt placed Vance’s odds at 44%
• BetUS.com also put Vance at 44% implied probability

Brian Hughes, a Trump campaign senior adviser, downplayed the speculation, stating, “Anyone telling you they know who or when President Trump will choose his VP is lying unless that person is named Donald J. Trump.”

However, during the roll call for Trump’s Presidential nomination, the 45th President confirmed Vance was his pick for running mate in a post on his social media site, Truth Social.

JD Vance: Early Life of a VC Politician

James David Vance was born James Donald Bowman on August 2, 1984, in Middletown, Ohio.

His parents – Donald Bowman and Bev Vance – divorced when he was just a toddler. He took the surname of his stepfather, James Hamel, but later took up his maternal family name, Vance.

JD Vance attended Middletown High School and after graduating from high school he joined the Marine Corps where he served in the Iraq War. After discharge from service, he attended the Ohio State University and graduated with a degree in political science and philosophy.

JD Vance subsequently attended Yale Law School where he received a Juris Doctor in 2013.

JD Vance’s Professional Career: From Venture Capital to US Senator

JD Vance started his career at a corporate law firm in San Francisco but soon moved to the private equity industry and joined Peter Thiel’s venture capital firm, Mithril Capital. In 2017, he became the managing partner of Rise of the Rest Seed Fund, an early-stage fund.

The fund focused on markets outside California, Massachusetts, and New York which account for the bulk of startup funding.

Vance then created his own venture capital company, Narya Capital, in 2019. Among others, the fund was backed by Scott Dorsey, Peter Thiel, Eric Schmidt, and Marc Andreessen.

Becoming a Best-selling Author: How Much Did JD Vance Make from ‘Hillbilly Elegy’ Book and Movie?

In 2016, Vance published his book Hillbilly Elegy: A Memoir of a Family and Culture in Crisis.

The book became a best-seller and won the 2017 Audie Award for Nonfiction. The book highlighted the troubles faced by the white American working class in the Rust Belt and many saw the book as a tool to understand Donald Trump’s popularity among his voters.

A New York Times article, for instance, listed it among the six best books to “help understand Trump’s win” in the election. The article quoted from a book review by the publication which said, “Combining thoughtful inquiry with firsthand experience, Mr. Vance has inadvertently provided a civilized reference guide for an uncivilized election, and he’s done so in a vocabulary intelligible to both Democrats and Republicans.”

The book royalties that Vance earned have been a key driver of his net worth. For instance, he earned $347,752 from book royalties in 2020 and the figure increased to $475,380 in 2021. But the real growth was experienced just recently, after being named VP.

Vance’s senate filings also showed that he earned over $327,000 from Narya Capital in 2021.

The success of the book extended beyond print.

In 2020, Hillbilly Elegy was adapted into a film by Ron Howard and released on Netflix. The adaptation featured Glenn Close and Amy Adams, bringing Vance’s story to a broader audience. The movie’s release not only boosted the book’s sales but also brought in additional revenue for Vance.

Though the exact earnings from the movie adaptation are not publicly disclosed, it’s known that such adaptations typically involve substantial financial deals, often including a percentage of the profits or a lump sum payment.

After being named Donald Trump’s vice-presidential running mate in 2024, the memoir saw a resurgence in popularity, catapulting to the top of Amazon’s bestseller list.

On the day of the announcement, the book’s sales skyrocketed, moving from No. 220 to No. 1 in paperback and No. 2 in hardback. This surge in sales undoubtedly added a significant amount to Vance’s earnings from the book.

Vance’s Relationship With Former President Donald Trump

Vance’s relations with former President Donald Trump have been oftentimes volatile. Ahead of the 2016 elections, he said Trump was “noxious” and “reprehensible” for his views on “immigrants, Muslims, etc”. Vance even described himself as a “Never Trump guy”.

However, he has since changed his views about the former President (at least publicly) and also deleted his tweets critical of him.

In an interview with Fox in 2021, he said, “And I ask folks not to judge me based on what I said in 2016, because I’ve been very open that I did say those critical things and I regret them, and I regret being wrong about the guy.’

I think he was a good president, I think he made a lot of good decisions for people, and I think he took a lot of flak.

Trump subsequently endorsed Vance in Ohio’s 2022 Republican Senate primary which he won.

Now, he is said to be on the four-person shortlist of people that Trump could have as his running mate in the 2024 elections, which also includes Tim Scott, Marco Rubio, and Doug Burgum.

JD Vance’s Political Career

Notably, JD Vance’s political views are similar to that of Trump.

For instance, his website says, “Every day, we read about a new assault on our country: from the Chinese who are stealing from American industry, or from our own “leaders” who teach our kids to hate their own country. Why is this happening? For a simple reason: our leaders have failed.”

Incidentally, it was Trump who took on China over the country’s trade policies – a policy that even his successor. Joe Biden, followed.

Among other policies, he advocates for the following:

• Energy independence: Vance supports higher oil and gas production in the US, something that Trump practiced during his tenure. Like Trump, he is also not a fan of the green energy transition and blames the Biden administration for “spending billions on battery technologies that are controlled by the Chinese Communist Party and built by Chinese workers”.
• Restoring America’s manufacturing base: Vance advocates supporting onshoring of manufacturing. His views are similar to those of Trump who tried supporting the manufacturing sector with tariffs on Chinese goods and corporate tax cuts.
• Resolving the immigrant crisis at the Southern border: Like Trump who talked of building a wall at the border with Mexico, Vance also wants a tough approach to solve the immigrant crisis at the Southern border
• Breaking up Big Tech: Trump had a tumultuous relationship with Big Tech and Vance calls for breaking up these companies.
• America first: Borrowing from Trump’s “America First”, Vance wants a US foreign policy that puts America first.
• Against abortion: According to Vance, he is “100 percent pro-life” and wants abortions to be abolished.

In his 2022 senate primary campaign, Vance loaned his team $700,000 which he paid back with donations from his main senate campaign. In the federal election campaign, Vance raised a total of over $15 million.

Former boss Peter Thiel donated a total of $15 million to Vance’s initial primary race and his PAC (political action committee) throughout the campaign.

JD Vance Net Worth: Crypto Investments and Sentiment

Vance’s filings showed that he has invested in cryptocurrencies and held between $100,000-$250,000 in Bitcoin. Vance has a constructive view of digital assets – just like Trump who has said he would be the “Crypto President”.

While the filings showed that Vance held multiple investments – both in public and private markets – he only held shares of Walmart and AppHarvest and the rest is made up of privately held companies.

Vance held multiple ETFs including the SPDR S&P 500 ETF and SPDR Dow Jones Industrial Average ETF.

Notably, even Warren Buffett advises investors to choose S&P 500 ETFs as they are low-cost and can offer returns close to the benchmark (after accounting for the fees).

JD Vance Real Estate Investments

JD Vance isn’t exactly a real estate mogul but he did buy a $1.6 million home (now valued at $1.8m)i n a neighborhood described as a “liberal enclave” in the northern Virginia neighborhood. He also owns a home in Cincinnati.

Along with his Cincinnati home, Vance’s total real estate assets are estimated to be worth $4 million.

JD Vance’s Personal Life

In 2014, JD Vance married Usha Chilukuri, his former classmate at Yale.

The couple have three children: Ewan, Vivek, and Mirabel. Usha Chilukuri Vance was a law clerk in the US Supreme Court between 2017 and 2018 and is currently an Attorney at Munger, Tolles & Olson LLP.

He often speaks about the importance of work-life balance and how his wife, Usha, and their three children provide him with support and motivation.

What Can We Learn From JD Vance’s Life?

While JD Vance is a controversial figure – especially among those who are on the left of the political divide – his life story still offers some valuable lessons.

For instance, he had a far-from-perfect childhood with a mother struggling with addiction.

Despite his difficult and impoverished childhood, Vance became quite successful and famous, leading to him being elected Trump’s Vice President.

He has a track record of taking opportunities when they come up. After his military service, Vance used his rights to free college education with the GI Bill to gain his Bachelor’s degree.

After working in venture capital and early-stage investments, Vance was also able to harness his connections with super-wealthy people such as Peter Thiel to help fund the PAC that supported his senate campaign.

Building a network to advance his political career has been a smart move, reflected in his move up the ranks in the Trump GOP.