This article will cover all the details about Glenn Youngkin, such as his net worth, early life, educational background, salary, family, and other details.
Since 2022, Glenn Allen Youngkin, an American politician and businessman born on December 9, 1966, has held the office of 74th governor of Virginia.
So without further ado, lets get started.
Glenn Youngkin Net Worth 2023
Based on various sources, American entrepreneur Glenn Youngkin reportedly has a net worth between $470 million and $500 million. He has stock in Carlyle Inc. worth millions of dollars.
He used the hundreds of millions of money in his name to aid several needy, deserving people. Glenn and his wife Suzane launched the Virginia Ready Initiative to help Virginians obtain employment.
Glenn Youngkin Biography and Early Life
Glenn Allen Youngkin
|December 9, 1966
Between $470 – $500 million
Glenn Youngkin was born to Ellis and Carroll Wayne Youngkin in Richmond, Virginia, on December 9, 1966. He briefly worked for “First Boston” bank during this time. This role exposed him to the capital market, mergers, and acquisitions.
Glenn graduated from Harvard Business School with a master’s in business administration. After earning his MBA, he started working for McKinsey & Company.
Later, Glenn became a buyout member of an equity firm named “The Carlyle Group” and spent the next 25 years there. He left the company in September 2020.
Glenn joined politics soon after he left the business and announced his desire to run for governor. Glenn was elected governor of Virginia in January 2022 after winning the 2021 elections, making him the 74th governor overall.
Along with his wife, he co-directs some nonprofits.
Glenn Youngkin and his family of six, including his wife, Suzanne, and four children, reside in Great Falls, Virginia.
Glenn Youngkin Earnings & Salary
Youngkin’s salary and earnings have been contributed through multiple things.
Glenn Youngkin’s majority share in the Carlyle Group, a global private equity and investment management firm where he also served as co-CEO with Kewsong Lee, is where he made the most of his fortune.
Glenn Youngkin net worth mainly contributes to his 2% ownership share in the private equity firm Carlyle Group. That 2℅ share can be roughly calculated to $370 million.
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Youngkin also has a sizable stock portfolio from which he receives dividend payments.
He owns stock in many other businesses, including Apple, Alphabet, Microsoft, and others, and has received dividends totaling $100 million from his holdings.
He won the election in November 2021 over his Democratic rival, earning a $175,000-a-year governor’s salary. In January 2020, Youngkin earned $8.5 million as part of a contract known as “Project Phoenix.”
Glenn Youngkin Education
Glenn went to Norfolk Academy for his education. In 1985, he completed his education and obtained his diploma. Like his father, Glenn loved basketball and was recognized for it with numerous trophies. He received a scholarship as a result of his basketball talent.
Glenn enrolled at “William Marsh Rice University,” a private research university. Youngkin became a member of the basketball squad known as “The Owls.”
He earned a Bachelor of Science and Arts degree in mechanical engineering and managerial studies later that year, in 1990.
Later, he decided to enhance his education by enrolling at Harvard. Then, in 1994, he graduated from Harvard Business School with an MBA.
How did Glenn Youngkin build his Net Worth?
Youngkin, who Forbes lists as one of the wealthiest politicians in the country, has an estimated net worth of $470 million, based on the value of his 2% stake, which roughly calculates to $370 million.
He has $100 million in dividends from stock holdings in various companies, including Apple, Alphabet, and Microsoft.
Glenn Youngkin’s 2% ownership share in the private equity firm Carlyle Group is the main contributor to his wealth.
He defeated his Democratic opponent in November 2021, winning a governor’s salary of $175,000 per year, which is insignificant compared to the amount of money he has stashed away.
Youngkin received $8.5 million in January 2020 due to a deal known as “Project Phoenix.” He exchanged $200 million worth of stock for an equivalent number of tax-free shares.
According to documents filed with the Securities and Exchange Commission, he lost more than $100 million in stock options after leaving Carlyle to pursue his political ambitions.
Nevertheless, he had earned $12 million in 2020, $16 million the year before, and $37 million before that as remuneration.
According to the Richmond Times-Dispatch, Youngkin and his wife successfully petitioned Fairfax County to declare the more than 30 acres of land surrounding their horse farm in Great Falls as agricultural land.
One may say that the over $152,000 saved in 2020–21 was transferred directly to their bank accounts.
Glenn Youngkin Business
Glenn became a buyout member of an equity firm named “The Carlyle Group” and spent the next 25 years there. He spent four years as a buyout member before being elevated to managing director.
He oversaw the global industries investment team from 2005 to 2008 while serving as managing director of the UK buyout team from 2000 to 2005. Youngkin was in charge of running the business in 2009.
Youngkin was added to the company’s executive committee the following year. Before being appointed COO of Carlyle in 2011, Glenn worked briefly as the company’s CFO.
After serving for three years, he was appointed co-president and co-COO of the company with Michael Cavanagh. Following Michael’s resignation after a year, Glenn was named President and COO of Carlyle.
Glenn and Kewsong Lee were declared to be the co-CEOs of Carlyle later that year. Until Glenn left the company in September 2020, the two kept working together on various initiatives.
Glenn joined politics soon after he left the business. He announced his desire to run for governor in January. The results were public at the end 2021, designating Glenn Youngkin as Virginia’s new governor.
How Has Glenn Youngkin Spent His Wealth?
Glenn Youngkin gave the Law Enforcement Assistance Programme a significant donation of his first quarter’s earnings.
As a result, the nonprofit received $43,750. This money helped first responders recover from traumatic events that happened to them either personally or while doing their duties.
His farm was made up of seven separate parcels of land, each of which was valued at $6.5 million. To win the 2021 governor’s race, Youngkin invested $12 million of his own money.
Any details about Glenn’s real estate holdings and his modes of personal transportation are kept very private.
What’s Glenn Youngkin net worth?
Glenn Youngkin’s net worth is estimated to be approximately $470 – 500 million.
What is the name of Glenn Youngkin’s wife?
The name of Glenn’s wife is Suzanne Youngkin, whom he married in 1994.
Who competed against Glenn Youngkin for governor?
In the race to become governor, Glenn Youngkin defeated Terry McAuliffe.
Does Glenn Youngkin have children?
Suzanne and Glenn are parents to four children.
How old is the VA governor?
Glenn Youngkin is 56 years old.
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