Washington [US], August 8: Minnesota Governor Tim Walz, who is also the Democratic vice presidential candidate, does not own any stocks, nor does his wife, Gwen Walz, Axios reported on August 7 .
According to financial records, during his final years in Congress and as governor of Minnesota, Mr. Walz had no mutual funds, bonds , private equity or other securities. Nor did he have any book deals, speaking fees or cryptocurrency.
The Walzs also don't own any real estate . They sold their home in Mankato, Minnesota, after moving into the governor's mansion. Their only investment appears to be their retirement fund.
Not having many investments is rare for elected officials, especially those in high-profile positions running for office. As a congressman, Walz introduced the Securities Act, which was intended to curb shady dealings by lawmakers and federal government employees. The law was signed into law by former President Barack Obama in 2012, though its effectiveness remains questionable, according to Axios .
As governor, Walz signed legislation imposing a 1% surcharge on capital gains and annual net investment income over $1 million. He also chairs the Minnesota Investment Board, which oversees the state's pension fund.
On August 6, US Vice President Kamala Harris announced that Mr. Tim Walz will be his running mate for this year's White House race, facing the Republican duo of former US President Donald Trump and Ohio Governor JD Vance.
Source: Thanh Nien Newspaper