By Jessica Kwong
Staff Writer
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The only non-politician in night two of the second Democratic debates Thursday is Andrew Yang, an entrepreneur who seemingly came out of left field but is polling higher than some candidates who have spent their lives in government. As Americans are becoming familiar with the candidate who promises a $1,000 a month universal basic income to adults, one thing about him remains unclear—his exact net worth.
Yang, 44, has not filed financial disclosures, which would reveal his assets and liabilities, because he has not run for office in the past. The personal finance site Financial Samurai estimated his net worth to be between $3 million to $4 million based on his background in tech startups, law and as former CEO of Manhattan Prep, which was acquired by Kaplan.
Yang did not respond to a request for comment on his net wroth from Newsweek on Wednesday afternoon.
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But he did tell The Washington Post Magazine in June that he "became a millionaire" when Kaplan bought his test prep startup in 2009 and is now "fairly comfortable." Yang did not reveal how many millions he made, but said, "my net worth is probably much lower than speculation would lead one to believe."
Here is what we know about his financial background:
- Yang's 2016 tax return reflected that he earned $285,000 annually as founder and CEO of Venture for America, a nonprofit that helps entrepreneurs create jobs in cities facing challenges, according to The Center for Public Integrity.
- His salary fell to $214,000 in 2017, the year he stepped down as CEO.
- Yang, who registered his bid for president way back in November 2017, reported raising $2.8 million in the second quarter of this year, as well as having $848,000 cash available to use.
- Last year his presidential committee, Friends of Andrew Yang, received two Bitcoin and Ethereum contributions amounting to roughly $2,600 each, according to an analysis of federal records by The Center for Public Integrity.
- Yang previously worked as an attorney at Davis Polk and a salesman for Cutco knives.
- Yang's key presidential promise is a universal basic income plan and "freedom dividend" of $1,000 per month to every American adult over age 18. Though critics have written off his proposal as implausible, Yang continues to push his Humanity First slogan and argues that the dividend would stimulate the economy and prevent job loss to automation.
President Donald Trump's net worth as of Wednesday was $3.1 billion, according to Forbes. Unlike Yang, Trump claims he is worth more than reliable assessments.
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