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Tom McDermott Net Worth – How Much Is He Worth?

Tom McDermott's Net Worth

Tom McDermott Net Worth – American Politician Tom McDermott is Currently serving as the 20th mayor of Hammond, Indiana. This article covers all the information about Tom McDermott’s Net Worth.

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Tom McDermott Biography and Career

Tom McDermott Net Worth
Tom McDermott Net Worth – How Much Is He Worth?

Currently serving as the 20th mayor of Hammond, Indiana, Thomas Matthew McDermott Jr. was born on March 4, 1969, and is an American lawyer and politician from the state of Indiana.

On January 1, 2004, he began serving in his first elected position in the government. He is a Democratic Party supporter.

McDermott became Hammond’s longest-serving mayor after gaining a fourth term in the general election in November 2015. In 2019, he was chosen to serve a fifth term. 

McDermott has had two marriages. He had two children, Lindsey and Chase, with Starla (Pettus) McDermott, his first wife. After their eventual divorce, McDermott married Marissa J. Kelly in 1999; they had met while both were students at law school.

Judge, lawyer, and member of the Hammond precinct committee, Marissa serves Lake County. She was raised on Long Island but was born in Warsaw, Poland.

Tom McDermott Career

By defeating incumbent Republican Mayor Duane Dedelow, McDermott won the 2003 Hammond mayoral race. The Hammond Redevelopment Commission oversaw the demolition of the decrepit River Park Apartment complex during McDermott’s first time in office.

Tom McDermott Sr., the father of Mayor McDermott, was responsible for getting Cabela’s outdoor recreation store to open in 2005 at the old Woodmar Country Club site in south Hammond.

The large tax break given to Cabela’s at the time was criticized as “corporate welfare,” but advocates, including the mayor, highlighted a “public-private partnership.”

In 2004, 2005, and eventually, in September 2007, McDermott successfully pushed for the closure of the Hammond Health Department.

In the 2007 contest for mayor, McDermott won a second term with a 52.4% to 47.6% vote margin, defeating Republican challenger George Janiec by only 400 votes.

At a rally for the senator held at the Hammond Civic Center on March 28, 2008, McDermott announced his support for Senator Hillary Clinton for president. Later, in a Crown Point restaurant, McDermott joined her campaign.

In November 2009, David Woerpel, a personal friend and political commentator who works as a postal worker and precinct captain, was arrested after Indiana state police allegedly found marijuana growing in Woerpel’s garden.

McDermott protested the arrest. The charges were dropped, and McDermott later accused his rival, Lake County Sheriff Rogelio “Roy” Dominguez.

Tom McDermott Political Career

McDermott was rumored to run for the U.S. Senate in Indiana in 2010 to replace retiring incumbent Evan Bayh. However, he withdrew and supported Brad Ellsworth, a rival contender.

For the third time in his career, McDermott won the Democratic primary in 2011 with 68% of the vote and the general election in November with 80.2%, defeating George Janiec by a margin of 7,200 votes.

Director of the Hammond Housing Authority Maria Becerra filed a discrimination claim, and McDermott agreed to a $200,000 payment in February 2014. Following Becerra’s dismissal from the Hammond Housing Authority, a subsequent editorial in The Times of Northwest Indiana demanded that McDermott issue a formal apology.

McDermott resigned as the leader of the Lake County Democratic Party on May 16, 2014. It was rumored that McDermott intended to run for Indiana governor in the 2016 general election. On May 5, 2015, McDermott easily defeated 6th District Councilman Homero “Chico” Hinojosa with 78% of the vote to become the first mayor in Hammond’s history to win four straight Democratic primaries.

As a result of McDermott’s overwhelming victory over Republican Humberto Prado in the general election on November 3, 2015—a margin of 5,100 votes—he was elected mayor of Hammond for the longest period in the city’s history. 

More About Tom McDermott’s Career

The Lake County, Indiana, election board dismissed charges in 2015 that McDermott had broken the law regarding campaign funding by failing to itemize more than $200,000 in reimbursements for travel, hotel, and rental cars. In public, McDermott acknowledged in November 2019 that he had received a $50,000 fine for using his wife, Lake Circuit Judge Marissa McDermott, for unlawful campaign loans.

McDermott announced his candidature for Pete Visclosky’s seat after Visclosky decided not to run for reelection to the United States House of Representatives for Indiana‘s 1st congressional district in the 2020 election. In the primary election, McDermott was second to Frank J. Mrvan.

To gather funds for a potential challenge against Todd Young in the Indiana United States Senate race of 2022, McDermott filed with the Federal Election Commission in 2021. For this position, McDermott earned the Democratic nomination with no opposition.

McDermott participated in a live, televised debate on October 16, 2022, against incumbent Republican Senator Todd Young and Libertarian contender James Sceniak. McDermott abandoned his senate candidature to Republican Todd Young on election night, November 8, 2022. According to the election’s official figures, McDermott received around 701,988 votes or 37.9% of the state’s total U.S. Senate vote.

Tom McDermott Education

In 1987, McDermott enlisted in the U.S. Navy after completing his education at Napa High School in Napa, California. He served as a nuclear submariner aboard the USS Hyman G. Rickover for six years of his service, including the Gulf War. He then worked as a nuclear electrician in the submarine reactor plant and was trained to become Rickover’s sole diver.

During his time in the Navy, McDermott relocated to Northwest Indiana, where he attended Purdue University Northwest while working as a supervisor at a nearby power plant. He graduated from Notre Dame Law School with a Juris Doctor in 2000 after earning a Bachelor of Science in finance in 1996. When McDermott was admitted to the bar, he began practicing law in Hammond.

Tom McDermott’s Salary and earnings

Tom McDermott's Salary and earnings
Tom McDermott’s Salary and earnings

The Indy Star estimates that McDermott makes at least $104,436 yearly as mayor. According to The Times of Northwest Indiana, he was ordered to pay back $50,000 in loans from his campaign to his wife’s judicial campaign, which officials judged excessive in 2019.

Tom McDermott’s Net Worth

Tom McDermott's Net Worth
Tom McDermott’s Net Worth

McDermott’s Net Worth is unknown. Yet according to our analysis, Tom McDermott’s net worth is believed to be roughly $5 million.

Tom McDermott Business

Tom McDermott’s Net Worth started from his involvement in the Navy to politics. His gradual development and achievements added to what is now known as Tom McDermott’s net worth. During the Persian Gulf War,

Tom spent six years in the U.S. Navy as a nuclear submariner on board the USS Hyman G. Rickover (SSN 709). After passing the challenging U.S. Navy Dive School, he was the only diver on board and worked as a nuclear electrician in the sub’s reactor plant.

After leaving the Navy, Tom attended Purdue Northwest and excelled in finance while maintaining a full-time job. Tom attended the University of Notre Dame in South Bend while attending law school there.

He spent his time there working in the school’s Legal Aid department, assisting those in need with legal issues. Tom returned to Hammond after earning his law degree and started his legal firm.

The award-winning Hammond College Bound Scholarship Program, which has provided full-tuition scholarships to thousands of Hammond’s graduating seniors, is the effort that Mayor Tom is most proud of.

The U.S. Conference of Mayors City Livability Award has been given to this program twice and has garnered widespread attention.

The greatest honor given to a civilian by the Governor of Indiana, “Sagamore of the Wabash,” was bestowed upon Mayor Tom McDermott in 2005. He was also made deputy chairman of the Indiana Democratic Party in 2005, which put him in the thick of state affairs.

Tom was chosen as the Lake County Democratic Central Committee’s Chairman in 2009. He was appointed the Head of the Veterans & Military Families Council of the Democratic National Committee in 2018.

Tom coached young baseball players for 18 years before switching to triathlons. Also, he participates in several boards and community organizations in addition to the St. John Bosco church.

FAQs

What is Tom McDermott’s net worth? 

Tom McDermott’s net worth is believed to be roughly $5 million.

Who did Tom McDermott marry?

Tom had two marriages, and currently, his wife’s name is Marissato whom he got married in 1999. 

How many years did he serve as the mayor of Indiana? 

He has been serving as the mayor since 2004.

What is Tom McDermott’s salary? 

The Indy Star estimates that McDermott makes at least $104,436 yearly as mayor.

How many children does Tom McDermott have? 

According to McDermott, Tom has four children.

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Ivan Sawyer

Ivan Sawyer is an acclaimed author at World-Wire, known for his insightful 'How-to' guides and practical tips. With a degree in Journalism, Ivan excels in simplifying complex topics for readers. His well-structured guides empower readers to make informed decisions. Recognized with awards like "Best Content Creator in Practical Guides" in 2022, Ivan is a trusted source of practical advice.

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