Illinois Governor JB Pritzker tripled his taxable income to $18.5 million in 2021, compared to the $5.1 million he and his wife earned the previous year.
Pritzker, whose net worth is estimated at $3.6 billion as heir to the Hyatt Hotels fortune, is not taking a salary as governor, but a majority of his net worth came from $11.3 million in capital gains, according to his recent tax returns released Friday. have been released.
Pritzker and his wife, MK Pritzker, ended up paying $5.5 million in federal and state taxes Chicago Tribune reports.
Although the governor has tried to keep his wealth out of the spotlight since running for office in 2018, he is routinely under scrutiny for his lavish wealth and ownership of mansions in Chicago, Wisconsin, Florida and the Bahamas.
The billionaire, who rose to fame with $171 million of his own money to fund his first campaign, has now deposited $145 million in his reelection bid.
Illinois Gov. JB Pritzker, whose net worth is estimated at $3.6 billion, tripled his taxable income from $5.1 million to $18.5 million in 2021
The heir to the Hyatt Hotels fortune owns two adjacent homes in Astor Street, Chicago (above) valued at $5.8 million and $6 million
Although Pritzker has repeatedly refused to disclose his full income taxes, his 2021 economic interest includes a seven-page list of assets worth more than $10,000 each, with an additional four pages of assets netting him more than $7,500.
Along with the assets, Priztker and his family own two adjacent homes in Astor Street, Chicago, worth $5.8 million and $6 million.
The first house is a single family home with six bedrooms and three bathrooms, and the adjacent property has four beds and eight bathrooms.
Pritzker also owns a large horse ranch with several buildings in Racine, Wisconsin, along with a nearby large mansion in Lake Geneva.
The governor was heavily monitored on the properties when he was caught moving back and forth between them and his Chicago estates during the pandemic amid his own Stay-at-Home orders, the Tribune said.
Pritzker also owns a large horse ranch with several buildings in Racine, Wisconsin (above)
His family also owns a nearby mansion in Lake Geneva (pictured)
A similar incident occurred with his $12.1 million Florida estate, which his wife flew to during the lockdowns.
The family bought the Florida estate the same week the governor was elected in 2018.
Not a private residence, the stables include 30 stables, an oversized riding school, a manager’s apartment and an owner’s lounge among the more than 27,000 square feet of buildings.
Prtizker’s $12.1 million Florida estate (above) was highlighted after his wife traveled there during his Stay-at-Home tenure at the height of the pandemic
The Pritzker’s have also confirmed they own another property in the Bahamas, but have not openly confirmed where the property is located.
NBC 5 had tracked the property to a mansion on the Lyford Cay seafront near the Lyford Cay Club Tennis Center.
Pritzker founded several offshore trusts in the Bahamas by his grandfather. According to his campaign, trusts benefiting the governor paid $14.6 million in state taxes and $68.6 million in federal taxes last year.
Pritzker is a member of the billionaire Pritzker family, which is consistently named on the Forbes “America’s Richest Families” list.
Pritzker also owns a home in the Bahamas. Though he never disclosed the address, reports link it to a new home on the coast of Lyford Cay (above)
The Hyatt hotel heir left the private sector with a $55 million taxable income to become governor, with the main promise being that he would take care of the state’s finances.
Pritzker donated $171 million to his own campaign in 2018, and after winning, gave control of his personal investments to an independent trustee.
However, experts told the Tribune that the governor is not completely divorced from the trustee’s decision, as the trustee is still passing information to the billionaire to complete his mandatory disclosure of economic interests.
After his election, Pritzker’s income fell to $4.4 million and nearly halved to $2.4 million the following year.
His salary had then doubled in 2020 and tripled the following year.
Of his fluctuating earnings, his campaign said in a statement: “Some trusts are required to make distributions every year and in some years they did better, some years worse.”
Pritzker has said he will reveal more information about his investments and finances once he leaves office.
“I hope it’s clear that I had no intention of taking advantage of my presence in public life,” he previously told the Tribune.
“And actually I think you could say, based on the dollars you all keep writing about my investments in the political world, it’s pretty clear it’s not going to be financially beneficial.”