How Joe Manchin Achieved a Net Worth of $12 Million

Joe Manchin is an entrepreneur, former U.S. state governor, and the current U.S. senator of West Virginia state. Since his election into office, Joe has been famously known for being a Democrat who has often gone against the legislation put forward by members of his party. He is, however, considered infamous after refusing to vote for President Biden's Build Back Better plan and thus causing the bill to fail.

The current U.S. senator has achieved his net worth of $12 million in several ways, including an annual base salary of $174,000 from his government office; he is the founder of a coal brokerage organization known as Enersystems which earned him $500,000 in dividends. Joe Manchin is also listed as one of the 20 richest senators in the United States. Here, we will discuss Joe Manchin's Net Worth of $12 million.

Early Childhood and Education

According to Cakowledge, Joe Manchin was born on 24 August 1947 in Farmington, a small coal mining town in West Virginia. He is the second child of John Manchin and Mary O. Manchin. The name "Manchin" was derived from the Italian name "Mancini." His father, John, was of Italian descent, and his maternal grandparents were Czechoslovak immigrants. Joe's father owned a furniture and carpet store, and his grandfather Joseph Manchin owned a grocery store. Both his father and grandfather were businessmen who were also actively involved in local politics, with each eventually elected as the mayor of Farmington.

Joe's uncle A.J. Manchin was a member of the West Virginia House of Delegates and later appointed the West Virginia Treasurer and Secretary of State. After joining the West Virginia House of Delegates in 1982, Joe Manchin was elected as the senator of the West Virginia state four years later. In the same year, he founded a coal brokerage firm named Enersystems. In 1965, Joe graduated from Farmington High School. He was later enrolled at West Virginia University on a football scholarship, but an injury during training ended his football career. He graduated in 1970 with a business administration degree and later worked for his family's business. Since childhood, Joe Manchin has been a close friend of Nick Saban, the coach of the Alabama Crimson Tide football team.

Family and Relationships

In 1967, Joe Manchin married Gayle Connelly Manchin. Connelly is an American educator and the former first lady of West Virginia. She was nominated by United States President Joe Biden as the federal co-chair of the Appalachian Regional Commission. Before that, she was appointed president of the West Virginia Board of Education until 2014. While she was the West Virginia Secretary of Education and Arts, Gayle was a faculty member at Fairmont State University and taught in the Marion County Public District.

She founded Fairmount's inaugural Community Service Learning Program. Joe Manchin and Gayle Manchin have been married for fifty-five years and have three children; Joseph IV, Brooke, and Heather Manchin. They are also proud grandparents to Kelsey, Knox, Carly, Beaux, Madeline, Joseph V, Chloe, Sophie, and Jack. The couple owns a beautiful home on the Kanawha River that they bought for $765,000 in January 2021. They also live on a houseboat worth $250,000 located in Washington, D.C.

Career

As mentioned earlier, Joe Manchin is the former state governor and the current United States senator. He has been representing West Virginia state since 2010. Most recently, he has been making headlines for refusing to support the newly proposed major Democrat legislative package. It mainly focused on climate change and increased taxation targeting the rich and large corporations. Manchin released an official statement saying that leaders should put their political agendas aside and re-evaluate their policies. This is due to the current economic realities of the state. Between the years 2001 to 2005, Joe Manchin served as the 27th secretary of the West Virginia. Then, he was elected as the senator.

Conservative Beliefs

According to Bloomberg, Joe Manchin often considers himself a "moderate conservative director," and is often regarded as the most conservative Democrat in the United States senate. As a member of Congress, Joe is well-known for his unbiased support of bipartisanship voting and legislation. Furthermore, for working with GOP members on important state matters such as gun ownership and abortion. He was also one of the senators who opposed former President Barack Obama's energy policies. That is the Don't Ask, Don't Tell Repeal Act of 2010.

In 2015, Manchin voted to remove federal funding for Planned Parenthood. His Democratic Party is the minority party in the 117th Congress. However, Joe Manchin is one of the party's most influential members. Senator Joe Manchin currently serves as the Chairman of the Senate Energy and Natural Resources Committee. He also serves on the state's four critical committees: Senate Committee on Veterans' Affairs, Senate Committee on Armed Services, and the Senate Committee on Appropriations. These senate committees help address the state's energy needs. They protect the rights of Veterans. And, they oversee discretionary spending in the nation. Additionally, Joe Manchin is a hunter, motorcyclist, angler, outdoorsman, and avid pilot.

Joe Manchin's Net Worth

According to Gobankingrates, Joe Manchin, dubbed the world's best American politician, has a net worth of $12 million. It is also estimated that his net worth has grown at a 29% rate over the past three years. The West Virginia senator has many assets, including two luxury yachts, five real estate properties, and a cash reserve of more than $3 million. He also owns an investment portfolio with Apple, General Motors, Microsoft, Pfizer, Amazon, and Tesla, valued at $2 million.

Joe Manchin lives with his family in an 11,000-square-foot luxurious house in Maryland, Washington DC. He also owns several vehicles like BMW X9, Aston Martin DBX, McLaren GT, and many others. Manchin owns a Range Rover Autobiography that is worth $200,000. Over the years, Joe Manchin has bought himself expensive timepieces as presents from his friends and family. Some luxury watches include; Omega, Hermes, Tiffany & Co, and Arnold & Son, all valued at $212,000.