The Democratic Party is filled with people who are nothing if not contradictory and Andrew Yang might be the easiest example to understand the Democratic dilemma. People have been sharing their doubts regarding Andrew Yang net worth and there have been a lot of speculations about the actual figure. This article will focus on Yang’s political career, his alleged net worth, even if ambiguous, and how he ended up accumulating it.
|Education||Brown University (BA), Columbia University (JD)|
|Occupation||Entrepreneur, Political Candidate, Political Commentator, Author|
|Political Party||Democratic Party|
|Spouse(s)||Evelyn Yang (m. 2011)|
|Hometown||Schenectady, New York|
Andrew Yang Net Worth
Yang’s net worth is disputed by different reporting and financial organizations but he himself has been documented once to disclose it to be $600,000. Yang disclosed that between 2017 and 2018, he raised over $650,000. After appearing on Breakfast Club (radio show) and The Joe Rogan Experience (well-known podcast), his fundraising dramatically increased. Among Newsweek, The Wall Street Journal, and himself, his net worth still remains more or less unknown, or at least partially known.
Eighty thousand donors donated more than $17 million on average in only two months, because of which Yang was able to raise $1.7 million. This raised revenue of $1.8 million for Yang in only four months. After quitting his campaign, he became a political commentator for CNN.
The 46-year-old politician got a lot of limelight when he ran for the 2020 Democratic Party presidential primaries but his work in the public forum began way earlier. Yang was brought up in Schenectady, New York. He initially began his journey as an entrepreneur by engaging himself with companies in their initial development process between 2000-2009 both as an executive and founder.
Andrew Yang, who decided to run for United States Presidency in 2017, did not have much popularity a few years ago. In 2019, he first gained prominence as a democratic candidate for the United States president, and many wonder what Andrew Yang’s net worth is?
Yang’s unconventional scheme to resolve income inequality and warnings of the United States’ job sector being affected by automation is the reason for his fame. Andrew also talked about the need for women in leadership. Yang constantly highlighted that he is a parent and a nonprofit leader rather than a politician over the course of his run. His supporters informally referred to themselves as ‘The Yang Gang.’
At the beginning of 2020, Yang discontinued his presidential campaign before the outcome of the New Hampshire primary was even disclosed. Despite his quits, Yang outlasted serving senators, former governors, and other lifelong politicians because he was regarded as a breakthrough candidate.
● Early Life
Andrew Yang was born in January 1975 and is 45 years of age. He grew up with his brother Lawrence in Westchester County and later shifted to the United States in the 1960s. After scoring more than 1200 out of 1600 in SAT at the age of 12, he got accepted into a summer program at Johns Hopkins University.
In New Hampshire, he attended an upper-class boarding school called the Phillips Exeter Academy. After he graduated from Phillips Exeter Academy, he got admission to Brown University and majored in political science and economics. As he completed his four years, he enrolled in Columbia University, which earned him a Juris Doctor.
● Entrepreneurial Journey
Yang undoubtedly entails a business disposition that reflects in his journey throughout his life. In 2000, Yang created a celebrity-affiliated web-based company for philanthropic fundraising. At that time, web-based company culture was not that successful which became the reason for shutting the company down in 2002. Yang then began serving as a VP of MMF System – a healthcare software startup from 2002 to 2005.
In the early 2000s, Yang became the CEO of Manhattan Prep after a variety of setups, including party-organizing businesses. In 2009, Manhattan Prep was taken over by Kaplan. He had also remained the vice president of a healthcare setup from 2002 to 2005. Later he tried to reshape the world of startups by starting Ventures for America in 2011. His startup was based on one mission, to convince ambitious college seniors to work at startups to build economic opportunities for Americans.
Additionally, the organization was very dedicated to training the graduates and professionals to bring ideas and innovations in businesses and startups in the cities like Baltimore, Detroit, and Cleveland. One of the recent startups that Yang put himself into is a nonprofit organization he created in 2020 called Humanity Forward.
Because of this, he was titled the “Presidential Ambassador for Global Entrepreneurship” in 2015 by the Obama Administration. He was awarded the title of “Champion of Change” the same year. He launched VFA with $200,000 and trained 40 graduates in 2012 and 69 in 2013. However, Yang left the position of CEO after two years.
Working as a solicitor in a law firm, as a CEO of Manhattan Prep that was recently acquired by Kaplan, and continuously working for startups, Andrew’s background made him worth $5-6 million dollars.
● Financial Assets
According to the Washington Post, Yang also served as a corporate solicitor for five consecutive months after graduating from Columbia Law School and Brown University. After the failed startups and the selling of Manhattan GMAT for $11 million followed by Venture of America, Yang left everything in 2017 and began living in a two-bedroom rental apartment in Manhattan with his two sons and wife. However, they own a New Paltz’s 2700 sq. ft. house worth $500,00.
Another channel (Forbes) reported that besides massive holdings in Google and Landing clubs, Yang managed to gather $15,000 to $50,000 in a Hustle Fund I, LP. which focuses on early startups.
In a nutshell, the net worth of Andrew Yang is not documented and his assets and liabilities have not been disclosed. This is because he hasn’t been running a single office since he started as an entrepreneur. But some important points below will help us figure out Andrew Yang’s net worth.
In 2016, he was running Venture of America and his tax returns showed that he made $285,000 as a CEO of the company.
Yang is enthusiastic about earning in real estate crowdfunding as well, according to Funrise. Funrise is one of the clever options that allows you to strategically invest your funds in the best real estate deals all over the country. Yang’s parents bought a property for Yang and he’s now making generational wealth for his upcoming generation.
Yang announced he was running for the Democratic nomination in the 2020 U.S. presidential election in 2017. In 2018, he announced the news on Twitter as well as on YouTube.
Yang’s campaign proposal in the form of UBI, which was perhaps one of the unique ones, was called the “Freedom Dividend.” Yang promised $1,000 to each mature American every month. His motive was to restrain the disastrous impact of automation that was causing unemployment. Yang thought that the fact that machinery had replaced workers was the reason why people voted for Donald Trump.
He suggested that this proposal would aid in creating innovation in the economy. He had predicted that as Americans earn, they will reinvest, which will help boost the local communities. Yang suggested giving every American a hundred dollars just to spend on their favorite candidate. According to the New York Times, Yang was the favorite candidate on the internet.
The fact of Andrew Yang’s net worth continues to remain more ambiguous than not as he himself has reported different incidents of funds and assets on different occasions. Some outlets report it to be $834,000, while some have reported it to be 1 million. While some differences in reporting are not uncommon among many popular celebrities or businesses person, Yang’s case has been a little different than the others. Many people have gone down the ‘Andrew Yang net worth’ rabbit hole and came out as oblivious as they went in.