Kathy Hochul's net worth reaches around $2 million, which puts her among America's wealthiest state leaders. New York's first female governor definitely earns $250,000 yearly, ranking her as one of the highest-paid governors in the United States. The story goes beyond her personal wealth.
The financial picture becomes more impressive with her husband William Hochul Jr.'s income included. Together, they brought in almost $1.5 million last year. William's role at law firm Davis Polk contributed $949,946 to their total earnings. On top of that, the governor's government salary reached $259,804, which surpassed her official $250,000 compensation.
Let's get into the surprising details about Kathy Hochul's wealth in 2025. This piece reveals her financial rise since 2023 and shows how she and her husband built their fortune. You'll learn about her income streams, investment choices, and see how her wealth stacks up against other politicians in similar roles.
Kathy Hochul’s Background and Rise to Power
Early political career and milestones
My roots in western New York shaped my start in politics, miles away from Albany's governor's mansion. My original political foundation came from serving 14 years on the Hamburg Town Board. These years taught me the basics of public service and how to involve the community.
The early 2000s saw my steady climb up the political ladder. A defining moment came in 2007 with my appointment as Erie County Clerk. The position made me the first Democrat to serve in decades. My role gave me valuable administrative skills managing public records and motor vehicle services for New York's largest county outside NYC.
The national stage beckoned in 2011 when I won a special election for New York's 26th congressional district. This victory proved especially meaningful as it turned a Republican stronghold Democratic for the first time in over 40 years.
Becoming New York's first female governor
August 2021 brought an unexpected turn in my career path. Governor Andrew Cuomo's resignation amid sexual harassment allegations led to my swearing-in as New York's 57th Governor. This historic moment made me the first woman to lead the state.
My role as Lieutenant Governor since 2015 had kept me working with Cuomo, mostly behind the scenes. The sudden change pushed me into the spotlight during a challenging period for the state.
My new position demanded immediate action to restore the public's trust while tackling ongoing pandemic challenges. This inauguration transformed New York politics and started a fresh chapter in the state's history.
Public service roles before governorship
My path to the governor's mansion included rich experience at multiple government levels. After Congress, I spent nearly seven years as New York's Lieutenant Governor. My focus centered on economic development and women's rights.
Those years saw me traveling extensively throughout the state. I visited all 62 counties yearly to connect with local communities and understand their challenges. This hands-on approach helped build strong relationships with local leaders and taught me about regional economic needs.
My career also included private sector work at M&T Bank, where I led government relations efforts. This role taught me how business and government policy intersect, adding valuable preparation for executive leadership.
Governor Kathy Hochul Net Worth in 2025
My financial portfolio keeps growing steadily in 2025. Here's a look at how my wealth has grown and where I rank among other governors in the nation.
Estimated net worth and how it compares to 2023
My personal net worth now sits at $2 million, showing steady growth from previous years. The wealth accumulation has stayed stable even with yearly income changes. My joint income with husband William Hochul dropped from $1.9 million in 2023 to $1.48 million in 2024 – a 22% decrease.
Our investments brought in $43,724 in dividends and $70,047 in interest during 2024. This was a big jump from the $18,756 in interest we earned last year. We also gave $87,883 to various charities in 2024, slightly above the $84,780 we donated in 2023.
Kathy Hochul salary as Governor of New York
My base salary as governor is $250,000, though I earned $259,804 total from government work in 2024. This puts me at the top of governor salaries nationwide. My husband William earned $949,946 at Davis Polk in 2024, down from his $1.47 million at Delaware North in 2023.
We paid $535,609 in state and federal taxes on our 2024 income. This was nowhere near the $733,162 we paid last year, matching our lower earnings.
How her net worth compares to other US governors
My $250,000 salary ranks highest among all governors. Maine's governor earns just $70,000 – creating a $180,000 difference. This puts me well above the $148,939 national average for governor pay.
My $2 million net worth isn't close to the wealthiest U.S. governors, many of whom built their fortunes before public service. It's worth noting that 1,187 local government employees in New York earned more than my governor's salary in 2023.
Where Her Wealth Comes From
Our family's wealth comes from many sources beyond my role as governor.
Income from public service roles
My position as New York's governor pays $250,000 annually, and my total government earnings reached $259,804 in 2024. This amount makes me one of the highest-paid governors in the country, though it represents just a portion of our household income.
Stock investments and financial disclosures
My husband and I have investments in several major corporations, including:
- Alphabet, Pepsi, Costco, Microsoft, and BlackRock
Last year, these investments brought us $43,724 in dividends and $70,047 in interest, which was much higher than the $18,756 we earned the year before.
Real estate holdings and primary residence
We bought a $485,000 waterfront condo in Buffalo in 2013 and later added an adjacent unit for $400,000. We now rent an apartment in Midtown East Manhattan and own a vacation home in Bumpass, Virginia, which we bought for $635,000 in 2008.
William J. Hochul Jr. net worth and career
William's earnings at Davis Polk reached $949,946 in 2024, less than his $1.5 million salary at Delaware North in 2023. He still receives $96,773 in deferred payments from Delaware North and $47,733 from his federal prosecutor pension.
Joint income and tax return highlights
Our combined income totaled $1,479,244 in 2024, down from about $1.9 million in 2023. We paid $535,609 in taxes and gave $87,883 to charities like Planned Parenthood and Habitat for Humanity.
Public Scrutiny and Controversies
My time as Governor has put me under intense public scrutiny due to several controversial events that shaped public opinion.
Controversial statements and public backlash
May 2024 brought heavy criticism when I said that "young Black kids growing up in the Bronx don't even know what the word 'computer' is". I quickly apologized and admitted I "chose the wrong words", but the damage was already done.
Black activists came together to protest my comments. A Bronx assemblymember called my statement "harmful, deeply misinformed, and genuinely appalling". The situation got worse in November 2024 when I called New Yorkers who vote for Republican House candidates "anti-American" and "anti-women".
The aide espionage scandal and its impact
The most concerning event was when my former deputy chief of staff, Linda Sun, was arrested in 2024 for allegedly working as a Chinese Communist Party agent. The prosecutors said she changed public statements, stopped Taiwanese officials from reaching my office, and used millions in laundered money to buy properties, including a $3.60 million Long Island home.
I fired her in March 2023 when we found out about her misconduct. I called her alleged actions "a betrayal of trust".
Transparency and financial disclosure concerns
Critics targeted my administration for missing financial transparency deadlines. We missed a required mid-year financial update in October 2022. This led critics to wonder if we were hiding unfavorable projections. Questions also came up about a $637 million COVID test purchase from a major campaign donor.
Conclusion
My financial picture in 2025 shows the remarkable experience from local politics to becoming New York's first female governor. My personal net worth stands at $2 million – a substantial figure that represents just one part of our family's financial portfolio. Our household finances paint a broader picture of prosperity when combined with my husband William's career at Davis Polk.
Our joint income dropped from $1.9 million in 2023 to $1.48 million in 2024, but we managed to keep a comfortable financial position through our diversified investments and property holdings. My governor's salary ranks among the highest-paid state executives in the country. Many local government employees in New York actually earn more than I do.
My governorship has faced its share of challenges. The public reacted strongly to my controversial statements about Bronx youth and Republican voters. On top of that, the espionage scandal with my former deputy chief of staff eroded public trust. Questions about financial transparency still follow my administration.
All the same, my financial disclosures demonstrate my values through charitable giving. We donated nearly $88,000 to organizations like Planned Parenthood and Habitat for Humanity last year, even amid political controversies.
My financial and political paths share similar trajectories – marked by steady growth, calculated decisions, and occasional setbacks. Being New York's governor comes with the understanding that wealth brings both privilege and responsibility. Public office subjects both policy decisions and personal finances to intense scrutiny. Transparency becomes essential to maintain voter trust.
My net worth means more than just accumulated assets – it reflects the intricate relationship between wealth, power, and public service in American politics today.
FAQs
Q1. What is Kathy Hochul's current net worth?
As of 2025, Kathy Hochul's personal net worth is estimated to be approximately $2 million. This represents a modest increase from previous years, despite fluctuations in her annual income.
Q2. How much does Kathy Hochul earn as the Governor of New York?
Kathy Hochul's official salary as the Governor of New York is $250,000 per year. This makes her one of the highest-paid governors in the United States.
Q3. Who is Kathy Hochul's husband and what does he do?
Kathy Hochul's husband is William J. Hochul Jr. He currently works at the law firm Davis Polk, where he earned $949,946 in 2024. Previously, he worked at Delaware North and also receives a federal prosecutor pension.
Q4. Where does Kathy Hochul currently reside?
While serving as Governor, Kathy Hochul and her husband have rented a modest apartment in Midtown East Manhattan. They also own a waterfront condo in Buffalo and a vacation home in Bumpass, Virginia.
Q5. Has Kathy Hochul faced any controversies during her tenure as Governor?
Yes, Kathy Hochul has faced several controversies, including backlash over comments about Bronx youth and Republican voters. She also dealt with an espionage scandal involving a former aide and has faced criticism regarding financial transparency in her administration.
