When Democratic Congressman Mike Johnson came to power as a US House Speaker, he made headlines for entirely different reasons instead of owning high doller assets like his predecessors. Johnson has proven to be both a man of the people and an advocate of fiscal responsibility, even when it comes to his own personal wealth.
Monster Mike Johnson, as he’s known in his hometown of Gadsden, Alabama, is an anomaly among House Speakers in the current political climate. While it’s common practice for elected officials to own attractive investments and properties as part of cultivating gravitas and projecting a successful image, Johnson has taken a different approach that values financial responsibility over personal luxury.
The Congressman and former Army Veteran and National Guard member has chosen to maintain a comparatively modest financial portfolio despite his considerable salary and power. Johnson and his family own two residential properties, but he has flatly refused to purchase luxurious objects like expensive cars, boats, and jewelry. His savings has been reported at a little over $200,000, with much of his income spent on helping his constituents and maintaining a comfortable home for his family.
He also keeps his distance from Wall Street, choosing to invest primarily in mutual funds, not stocks or bonds. Johnson’s steadily increased his net worth while in office by conserving his outlays and only attempting to purchase homes that are within his budget.
This responsible, prudent approach to expenditures may be due to Johnson’s principles as a public servant, but it certainly also works in his favor considering the current political climate. In a day and age full of biting criticism from all sides of the aisle, Mike Johnson has built an image of a humble, financially conscious House Speaker who puts something more important into the conversation than projecting wealth.
His view that personal and family stability is more important than luxury items has resonated with voters both in his home state and around the country. Moreover, his impeccable reputation and refusal to indulge in costly assets has positioned him as a sharp contrast to other politicians amid the current zeitgeist of tight budgets.
Considering his overwhelmingly positive polling numbers and skyrocketing approval from the public, it looks like Mike Johnson has won out the day with his conscientious management of his personal finances.