Trump's VP Pick, Vance: A Glimpse into His Stock Investments
1min read Former President Donald Trump has unveiled one of the most significant elements of the Republican National Convention: the selection of his vice-presidential candidate, J.D. Vance.
In a Monday announcement, Trump declared, I have decided that the most suitable person to serve as Vice President of the United States is J.D. Vance, introducing the senator from Ohio to the political stage. Initially known as a venture capitalist and bestselling author, Vance has an estimated net worth of $5 million, as reported by India's Times Now.
Vance's journey to financial prominence began with his service in the Marine Corps and graduation from Yale Law School, which he leveraged to embark on a career in venture capital. His national fame was solidified with the 2016 publication of his memoir, Hillbilly Elegy, which provided insights into the socioeconomic issues of his Rust Belt hometown and explained the appeal of Trump's messaging to impoverished white Americans.
At 39, Vance's wealth is bolstered by multiple revenue streams. His investment portfolio is diverse, and he has earned substantial income from speeches and his autobiography. As a U.S. senator, Vance earns an annual salary of $174,000, according to the National Taxpayers Union Foundation (NTUF), with the potential for an increase to $235,100 annually if elected Vice President.
His memoir, Hillbilly Elegy, significantly boosted his profile, earning him $475,308 by 2021, as reported by Business Insider. Additionally, Vance accrued nearly $70,000 from speaking engagements at various universities and institutions.
Vance's investment strategy includes leveraging ETFs to diversify his U.S. stock market investments. His top holdings feature broad-market ETFs such as the Nasdaq ETF QQQ (24%), S&P ETF SPY (24%), and Dow Jones ETF DIA (24%), which have appreciated 20.25%, 17.03%, and 6.74% this year, respectively.
Furthermore, Vance's portfolio includes shares in the Bitcoin ETF FBTC, Gold ETF GLD, Treasury Bond ETF TLT, as well as investments in the entertainment platform Rumble and the Crude Oil ETF OILK. The announcement of Vance as Trump's vice-presidential pick led to a 28% surge in Rumble's stock price, closing up 20%.
This blend of diversified investments and a strategic political career underscores Vance's financial acumen and growing influence within the Republican Party.