Chuck Schumer's Net Worth - How Rich is the Democrat?

Chuck Schumer's net worth is estimated to be approximately $70 million.

Overview

Chuck Schumer's net worth stats

Net worth:	$70 million
Source of wealth:	Investing, salary
Date of birth:	November 23, 1950
Place of birth:	Brooklyn, New York City

Early life

Schumer was on November 23, 1950, in Brooklyn, New York City. His mother, Selma, was a homemaker and his father, Abraham, owned an exterminating business.

Education

Schumer attended Brooklyn public schools. He scored 1600 on the SAT and, in 1967, graduated as the valedictorian of James Madison High School.

After high school, Schumer went to Harvard College. He initially majored in chemistry. After he volunteered for Eugene McCarthy's 1968 presidential campaign, Schumer switched to social studies.

In 1971, Schumer graduated magna cum laude and Phi Beta Kappa.

After Harvard College, Schumer went to Harvard Law School, earned his Juris Doctor with honors in 1974, and passed the New York state bar in 1975.

Although qualified for a career in law, Schumer ventured into politics instead. Ukraine's Volodymyr Zelenskyy is another example of a qualified lawyer who did not practice law and chose politics instead.

Family life

Schumer married Iris Weinshall in 1980, with the ceremony taking place at the Windows on the World atop the north tower of the now collapsed World Trade Center in New York City. Schumer is Jewish, with family ties to Galicia in Ukraine.

Chuck Schumer's second cousin is the comedian and actress Amy Schumer.

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How did Chuck Schumer build his net worth?

Chuck Schumer is worth around $70 million. He happens to be one of the richest in the U.S. Senate where his salary totals $170,000 per year before taxes.

As a senator, he has received donations from various parties over the length of his career. Most of these donations were to help with campaigns and specific lobbying efforts. Most of the money is placed in a high-interest savings account, generating as much as $2.2 million yearly in interest payments.

Senator Schumer made early investments in Apple, BP, Verizon, and Pepsi Co. These have continued to grow in value over the years, making the bulk of his net worth. Fellow Democrat Nancy Pelosi also has an impressive track record as an investor.

He has also invested in several properties, specifically 13 high-value homes across the country. His investments and assets alone account for $49 million of his total net worth.

Schumer is reported to earn as much as $400,000 per month from his business investments and stocks.

How has Chuck Schumer spent his wealth?

According to reports, Chuck Schumer doesn't care much about living conditions. The small shabby house he shared with two other senators for decades inspired the Amazon series "Alpha House." The house was sold in 2014, and the senator moved into an apartment close to his daughter. When he's not in Washington, Schumer lives with his wife in their Brooklyn home, which he bought for $157,000 in 1982.

While it may not be his biggest expense, the press revealed Chuck Schumer's $8,600 expenditure on cheesecake over the last ten years. The senator calls it his guilty pleasure. He said that he has also rewarded "Junior Cheesecake" with gifts in return for their ongoing support.