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Yahoo
13 hours ago
- Business
- Yahoo
Kristi Noem's Net Worth—How the Homeland Security Secretary Built Her Wealth
Secretary of Homeland Security Kristi Noem has an estimated net worth of $5 million, according to Forbes. Noem's government salary is an estimated $235,100 per year. Noem Insurance, owned by Noem's husband, Bryon, is valued between $1 million and $5 million, per her latest financial of Homeland Security Kristi Noem has a multimillion-dollar fortune through her time in government, as an author, and via her husband's insurance business. Prior to her latest role in President Donald Trump's administration, Noem was the first female governor of South Dakota, her home state. Before she was elected governor, Noem represented South Dakota in the House of Representatives from 2011 to 2019. Noem and her husband, Bryon, have an estimated net worth of $5 million, according to Forbes. Here's how Noem made those millions. Noem's salary as the Secretary of Homeland Security is an estimated $235,100 per year, according to Forbes. Noem's most recent financial disclosure showed $241,519 in salary as governor of South Dakota, or about $121,000 annually. She likely earned about $174,000 per year as a member of Congress. Noem Insurance, owned by Noem's husband, Bryon, is valued between $1 million and $5 million, per her 2024 financial disclosure. Bryon also owns commercial real estate in Pierre, S.D., valued at over $1 million, according to the disclosure. Noem's disclosure shows that she owns livestock and equipment worth up to $100,000. The couple owns pasture land in Castlewood, S.D., valued at between $250,001 and $500,000, which has brought in up to $50,000 in rent or royalties. Noem, an author, has written several books. She reported a $40,000 advance for her book "Not My First Rodeo: Lessons from the Heartland" on her financial disclosure, as well as a nearly $140,000 advance for her book "No Going Back: The Truth on What's Wrong With Politics and How We Move America Forward." Read the original article on Investopedia
Yahoo
a day ago
- Business
- Yahoo
Want To Be In The Top 5% Of Households? Here's Exactly How Much You Need—And It's Much Lower Than You'd Guess
How do you know if you're actually rich — like, rich rich? If you've ever wondered whether your savings, investments, or home equity stack up to the country's wealthiest, there's a number that draws the line. And while it might sound like an elite bracket reserved for finance bros and inheritance babies, the top 5% isn't as far out of reach as some might think. You'll hear people toss around figures like "I want to retire with $5 million," or "You're not rich until you never check your balance." Fair. But in the background, many are just quietly checking to see if their net worth is even close to making the cut. You'll spot them in Reddit threads, in comment sections, or sitting across from you at brunch, casually mentioning their Roth IRA. So—how rich do you need to be to join the top 5% of households? Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Maximize saving for your retirement and cut down on taxes: . According to the Federal Reserve's Survey of Consumer Finances, you'd need a net worth of about $3.8 million to break into the top 5% of U.S. households. That includes everything you own—retirement accounts, investments, your home—minus any debts you owe. Seems steep? Compared to the median net worth in America, which is around $192,700, it is. But if you've been aggressively saving, investing wisely, or just got lucky with some real estate timing, you might be closer than you think. The average net worth of households in the U.S. is about $1.06 million, but don't let that fool you. Averages get warped by the ultra-wealthy. The median is a better measure for the "typical" household—and that's why $192,000 matters. If you're above it, you're ahead of most. If you're below it, you're not alone. Trending: Invest where it hurts — and help millions heal:. This number includes: Retirement savings (401(k), IRA) Brokerage and investment accounts Real estate equity Business ownership or equity Cash and bank holdings Minus credit card debt, student loans, mortgages, etc. It doesn't count income—this is strictly net worth, not how much you make. Whether you're halfway there or just getting started, here are a few things that actually move the needle: Automate your investing. Consistency beats timing. Pay down high-interest debt. It eats your momentum. Own appreciating assets. Think equities or property, not depreciating toys. Reinvest wisely. Compound interest rewards the yourself to others isn't the recipe for happiness—but it is human nature. Benchmarks like this help give context, not judgment. Some people live well below their means and still feel broke. Others drive a 15-year-old car and feel free. Your version of "rich" might mean peace of mind, flexibility, or just not sweating the small stuff. These numbers are guideposts, not gospel. But if you're aiming for top 5% status? Now you know the number. The rest is strategy. Read Next: Here's what Americans think you need to be considered wealthy. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Want To Be In The Top 5% Of Households? Here's Exactly How Much You Need—And It's Much Lower Than You'd Guess originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
3 days ago
- Business
- Bloomberg
Elon Musk's Feud With Trump Spurs One of His Worst Wealth Losses Ever
Minute by minute, post by post, Elon Musk's very public, extremely online feud with President Donald Trump sliced into his vaunted status as the world's richest person. The final damage at day's end: $34 billion erased from his personal net worth, the second-largest loss ever in the history of the Bloomberg Billionaires Index of the 500 wealthiest people on the planet. The only bigger one: his own wipeout in November 2021.
Times
17-05-2025
- Business
- Times
The Duke of Westminster and the Grosvenor family net worth — Sunday Times Rich List 2025
What is the Duke of Westminster and the Grosvenor family's net worth?▼ £9.884 billion£10.127 billion in 2024 Enlisting the future king to hand out the orders of service is one way to impress your wedding guests. 'Hughie' Grosvenor's union to Olivia Henson at Chester Cathedral last year was billed as the wedding of the summer — and it didn't disappoint: the Prince of Wales served as an usher, and the Duke of Westminster's bride wore the Fabergé Myrtle Wreath tiara that has belonged to this property dynasty for almost 120 years. • The Sunday Times Rich List 2025 revealed Grosvenor inherited his title aged 25 after his father, Gerald, died from a heart attack aged 64. And while his wife, a graduate of
Times
17-05-2025
- Business
- Times
Gopi Hinduja and family net worth — Sunday Times Rich List 2025
What is Gopi Hinduja and family's net worth? ▼ £35.304 billion£37.196 billion in 2024 The sumptuous 120-room Raffles hotel fashioned out of Whitehall's Old War Office (OWO) in central London, where Winston Churchill and Ian Fleming, the creator of James Bond, worked during the Second World War, has been restored to 21st-century luxury by Gopi Hinduja, who tops The Sunday Times Rich List for the fourth successive year. More recently, the gilt-edged OWO has hosted several 'leaving UK' parties for super-rich individuals and families getting out of the country. The building's owner will not be hosting one himself. Gopi — or GP as he likes to be known — plans to see out his days in his 60-room home on Carlton House Terrace, just
