what Marty Walsh net worth 2024?
What is Marty Walsh net worth?
| Net worth | $2.5 million |
| Date of birth | April 10, 1967 |
| Full name | Martin Joseph Walsh |
| Occupation | politician |
| Nationality | American |
Marty Walsh net worth 2024: Martin Joseph Walsh is an American politician and former union official. He has been the 29th United States Secretary of Labor since March 23, 2021. He is the former mayor of Boston. Keep reading to find more information about Marty Walsh net worth and his earnings here.
Early life and education
Walsh was born in Dorchester, Boston, to John Walsh, an Irish American originally from Callow feenish, a townland near Carna, County Galway, and Mary, from Rosmuc. The couple emigrated to the United States in the 1950s and gave birth to Marty in 1967.
Walsh grew up in the Savin Hill area of Boston’s Dorchester neighborhood. He was diagnosed with Burkitt’s lymphoma at age 7, forcing him to miss most of second and third grade and repeat fifth grade. At age 11, after going through years of chemotherapy, a scan revealed no traces of the cancer.
He went to high school at The Newman School and received a Bachelor of Arts degree from the Woods College of Advancing Studies at Boston College in 2009.
Political career
Walsh joined the Laborers’ Union Local 223 at age 21 and served as the union’s president until he became the mayor of Boston.
He was elected secretary-treasurer and general agent of the Boston Metropolitan District Building Trades Council, a union umbrella group, in the fall of 2010. In 2011, Walsh was named head of the Boston Building Trades, a position that came with a $175,000 yearly salary.
Walsh was elected to the Massachusetts House of Representatives in 1997. He represented the Thirteenth district of Suffolk County, which includes Dorchester and one precinct in Quincy.
He was the Chairman of the Committee on Ethics, and served as a Co-Chair of the Massachusetts Democratic Party Labor Caucus. During his tenure he also served as the co-chair for the Special Commission on Public Construction Reform.
Mayoralty
In April 2013, Walsh announced he would run for Mayor of Boston in the 2013 mayoral election. He resigned the Trades Council position in April 2013 after formally announcing his bid for mayor.
Walsh defeated Connolly in the general election on November 5, 2013, with 51.5% of the vote, compared to Connolly’s 48.1%.
He served two terms as Mayor ofBoston.
Walsh resigned as mayor on March 22, 2021, the same day that he was confirmed for his position in the Cabinet of Joe Biden. Kim Janey, president of the Boston City Council, became acting mayor upon Walsh’s resignation
Marty Walsh Net Worth
Marty Walsh net worth 2024 is $2.5 million according to Forbes. Walsh owns $2 million of real estate, enough to make up most of his $2.5 million fortune. He bought one home in 2015 for $680,000.
It has almost doubled in value since. His parents purchased the other decades ago. It’s now worth just over $1 million, and Walsh owns it. He carries mortgages on both properties.
Walsh’s next largest asset also comes from Boston where he served as mayor for seven years, a government pension. It will pay him about $9,800 per month in retirement and is worth an estimated $625,000 today.
When was Marty Walsh born?
Martin Joseph Walsh was born on born April 10, 1967.
Inside Walsh’s Wallet
The labor secretary took office with three pensions worth more than $800,000 total, including two from a labor union he once led.
Walsh’s next largest asset also comes from Boston where he served as mayor for seven years, a government pension. It will pay him about $9,800 per month in retirement and is worth an estimated $625,000 today.
Then there are his union pensions. Walsh, a former union leader, said at his cabinet nomination hearing that his father’s membership in the Laborers Local 223 union was his family’s “way into the middle class.”
Health insurance from the union made it so his parents could afford the cancer treatment he needed as a child, and later, he said those benefits allowed him go into treatment for alcoholism as an adult. Walsh now holds two pensions through labor unions, worth a combined $190,000.
The labor secretary also owns at least $400,000 in other investments, according to the financial disclosure report he filed after his cabinet nomination.
The largest piece of that is his whole life insurance policy through John Hancock, worth about $300,000. Walsh also holds cash accounts and a mix of stock and bond index funds, worth at least $60,000.
And over the next few years, Walsh could pick up one more pension. If Biden gets reelected and Walsh sticks around in the administration for at least five years, he’d be eligible for a fourth pension.
Marty Walsh net worth 2024 is $2.5 million
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