The frontrunner in California’s governor’s race and his wife made more than $1 million annually and gave away about $100,000 a year on average to charitable causes over a recent six-year period.
Democratic Lt. Gov. Gavin Newsom and Jennifer Siebel Newsom revealed their income and charitable giving Monday at the downtown offices of his political consultants, SCN Strategies, by providing to reporters copies of his tax returns from 2010 though 2015.
Newsom made available the documents after repeatedly criticizing Republican President Donald Trump for not doing so. Release of the family’s taxes dials up pressure on his chief Democratic rivals. Treasurer John Chiang said through a spokeswoman on Monday that he would release his returns as soon as next week, while former Los Angeles Mayor Antonio Villaraigosa has promised at least three yeas of his tax documents.
Newsom and Siebel Newsom averaged $1.45 million per year in income and paid about 26 percent in federal taxes and 9.5 percent in state taxes. In 2015, the Newsoms paid $568,333 in federal taxes and $185,533 in state taxes. They gave nearly $63,000 to charities, including $50,000 in unspecified donations.
While Gavin Newsom draws an annual salary of $142,577 from the state, the forms show he made more than $350,000 dabbling in media. Newsom is the author of a 2012 book, “Citizenville,” and hosted “The Gavin Newsom Show” on Current TV. Siebel Newsom, a filmmaker and actress drew about $400,000 in annual income.
The Newsoms, who live in Kentfield in Marin County, also made $2.75 million from the 2011 sale of the family’s home in San Francisco’s Cole Valley.
The Newsoms’ tax forms show several hundred thousand dollars a year in income from wine and hospitality companies in which Gavin Newsom has investments. Newsom and Siebel Newsom also profited from selling off hundreds of thousands more in investments in silver bars, and via Siebel Newsom’s blind trust account.