Newsom doesn’t like the American people knowing this.
California Governor Gavin Newsom continues to earn hundreds of thousands of dollars from an extensive portfolio of wineries, restaurants, hotels, and hospitality businesses while serving as the state’s top elected official, according to newly filed financial disclosure records.
The latest disclosures reveal that Newsom earned at least $410,000 during the past year from his private investments. Because California ethics laws require officials to report income in broad ranges rather than exact figures, his actual earnings could be substantially higher.
The financial filings are drawing renewed attention as federal investigations involving Newsom’s family members and associates continue to make headlines. Newsom has dismissed those investigations as politically motivated and has pledged to eventually release his personal tax returns.
A Multi-Million-Dollar Wine and Hospitality Portfolio
Newsom’s business interests extend far beyond politics.
His financial disclosures show ownership stakes in luxury wineries, wine investment companies, upscale restaurants, hotels, bars, and retail wine operations across California, particularly in Napa Valley, San Francisco, and the Lake Tahoe region.
Many of those investments are held inside a blind trust valued at more than $1 million, including interests in several wine-related companies such as Arielle Wines.
The filings indicate Newsom received more than $100,000 from investment companies tied to those businesses, along with another six-figure income from wine sales through Benchmark Wine Group, a well-known dealer specializing in rare and collectible wines.
The Business Behind the PlumpJack Brand
Much of Newsom’s wealth is connected to PlumpJack, the luxury wine and hospitality company he helped launch before entering statewide politics.
The company has grown into a major California business with multiple vineyards and wineries throughout Napa County.
Among its holdings are:
- A 42-acre estate vineyard featuring wine production facilities and a public tasting room.
- A separate 54-acre vineyard in Angwin dedicated to growing premium wine grapes.
- An additional winery in Napa that produces several high-end labels.
Financial disclosures show Newsom continues to receive investment income connected to these properties.
Luxury Wines Selling for Premium Prices
Newsom’s portfolio also includes ownership interests in respected Napa Valley brands such as Odette Estate Winery and CADE Estate Winery, both known for producing luxury wines that often sell for more than $100 per bottle.
Collectors continue to pay premium prices for PlumpJack wines.
According to publicly available listings, bottles range from approximately $47 for a 2018 PlumpJack Merlot to nearly $1,200 for a magnum of the 2016 PlumpJack Cabernet Sauvignon Oakville Reserve.
Those premium sales helped generate another reported six-figure source of income during the past year.
Restaurants, Hotels, and Hospitality Investments
Newsom’s business holdings stretch well beyond vineyards.
His disclosures show he earned additional income through investments connected to luxury hospitality businesses, including the PlumpJack Inn near Lake Tahoe, a popular destination for skiers and tourists.
The governor also reported income from hospitality companies associated with several well-known California establishments, including:
- WildHawk cocktail bar in San Francisco’s Mission District.
- The Balboa Cafe.
- White Rabbit bar in San Francisco’s Marina District.
A retail wine business affiliated with the PlumpJack brand also generated more than $100,000 in reported income.
Longtime Ties to California’s Elite
Newsom has often pointed to his business experience as part of his political résumé.
His early success, however, was closely connected to relationships with the influential Getty family, one of California’s wealthiest and most powerful dynasties.
His father, attorney William Newsom, served as a trusted adviser to the Getty family for decades. He gained national attention in 1973 after helping deliver the ransom that secured the release of John Paul Getty III following his kidnapping in Italy.
Those longstanding relationships helped open doors that ultimately contributed to the growth of Newsom’s business ventures.
Questions Continue Over Business Interests
After becoming governor, Newsom signed an executive order preventing California state agencies from doing business with companies he owns in an effort to avoid potential conflicts of interest.
Still, his financial disclosures continue to generate scrutiny from critics who question whether elected officials should maintain such extensive private business interests while serving in public office.
Supporters argue the governor has complied with California’s financial disclosure laws and ethics requirements, while critics contend the size of his investment portfolio raises legitimate questions about transparency and public trust.
As Newsom remains one of the Democratic Party’s most prominent national figures, his financial holdings are likely to receive even greater attention in the months ahead.
Whether viewed as the success of a businessman or as a source of ongoing political debate, the latest disclosure filings offer one of the clearest looks yet at the private financial empire that continues to generate substantial income while Gavin Newsom serves as California’s governor.