California Governor Gavin Newsom’s office released over 700 pages of tax documents spanning four years, providing disclosure of the couple’s financial situation as he prepares to leave office and evaluates a potential 2028 presidential run. The filings cover 2022 through 2024, with the Newsoms reporting annual income between $1.7 million and $2 million and paying approximately $500,000 annually in combined federal and state taxes. Tax returns for 2025 were not included in the release, as the couple filed for an extension and planned to complete those filings in October.
The governor’s income has remained relatively stable since taking office in 2019, when the family reported $1.7 million in annual earnings. An exception occurred in 2021, when the Newsoms sold a Marin County residence for nearly $6 million, generating roughly $800,000 in profit and bringing that year’s total income to $4.2 million, with taxes exceeding $1 million. The couple earned approximately $2 million in 2022. This marks the first public release of tax returns since 2022.
Newsom receives nearly $200,000 annually as governor, though the majority of household income derives from winery and restaurant enterprises placed in a blind trust upon taking office. The PlumpJack Group, which encompasses multiple wineries and restaurants, is now operated by his sister and cousin. His wife, Jennifer Siebel Newsom, a film director, operates Girls Club Entertainment, a production company that generated losses in most years. The company previously produced “Miss Representation,” a 2011 documentary examining media portrayals of women and girls.
The tax disclosures come amid ongoing investigations by the U.S. Justice Department into the Newsoms, which the governor announced last month. Newsom has characterized the probes as politically motivated. According to the filings, the family spent between $14,000 and $44,000 annually on childcare for three of their four children. The Newsoms contributed between $40,000 and $65,000 to charitable causes each year, primarily through direct donations, along with donations of clothing, toys and other items to nonprofits and thrift stores.
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