Newt Gingrich is an American politician, author, and political consultant with a net worth of $12 million. Known for his leadership in the U.S. House of Representatives as Speaker from 1995 to 1999, Gingrich has had a significant impact on American politics, particularly during the 1990s.
His wealth comes from a mix of his political career, consulting work, writing, and various business ventures.
Over the years, his net worth has fluctuated, and he has been associated with numerous non-profit and for-profit organizations.
Early Life and Education
Newt Gingrich was born Newton McPherson on June 17, 1943, in Harrisburg, Pennsylvania. Raised by his single mother, Kit, after his father’s brief marriage to his mother, he was later adopted by his stepfather, Robert Gingrich, a career Army officer.
This move allowed him to travel across Europe during his childhood, living in places like France and Germany before the family settled in Fort Benning, Georgia.
Gingrich attended Baker High School in Columbus, Georgia, and graduated in 1961.
He later earned his BA in history from Emory University before pursuing an MA and PhD in European history from Tulane University.
Career Beginnings and Early Political Involvement
After completing his education, Gingrich worked as a history professor at West Georgia College. During his tenure there, he also became more involved in politics.
Gingrich made his first attempt to run for political office in 1974 but lost to the incumbent, Democrat Jack Flynt.
He lost again in 1976 to Jimmy Carter. However, in 1978, he successfully ran for the U.S. House of Representatives, representing Georgia’s 6th Congressional District. He would serve in Congress for 20 years, from 1979 to 1999.
Speaker of the House and Leadership in Congress
In 1989, Gingrich rose to the position of House Minority Whip, becoming one of the most powerful Republicans in the U.S. Congress.
In 1994, during what became known as the Republican Revolution, the GOP gained control of the House of Representatives for the first time in 40 years, and Gingrich became the 50th Speaker of the U.S. House.
As Speaker, Gingrich oversaw several significant pieces of legislation, including welfare reform and a capital gains tax cut.
He also played a role in the shutdown of the federal government. His tenure was marked by a strong alignment with Christian conservatism, which helped shape the direction of the Republican Party during that era.
However, Gingrich’s time as Speaker was marred by 84 ethics charges. In 1997, he was reprimanded by the House for improperly using tax-exempt status for a college course he ran for political purposes.
In the face of these ethics violations and internal Republican pressure, Gingrich resigned from the House in January 1999.
Post-Congressional Career
After leaving Congress, Gingrich shifted his focus to consulting and writing. He founded and chaired a number of think tanks, such as the Center for Health Transformation and American Solutions for Winning the Future, although both organizations faced financial difficulties, with one filing for bankruptcy. Gingrich also served as an advisor for Barrick Gold, a Canadian mining company.
Additionally, Gingrich founded Gingrich Productions, a media company that produced content for television and digital platforms. He also authored several books, including works on history, politics, and leadership.
2012 Presidential Campaign
In 2012, Gingrich made a bid for the Republican presidential nomination. Despite struggling in early primary contests, he managed to secure a win in South Carolina.
However, after failing to gain momentum in subsequent primaries, he suspended his campaign after disappointing results in Delaware.
Relationship with Donald Trump
Gingrich was one of the first high-profile Republicans to endorse Donald Trump during his 2016 presidential campaign. He played a key advisory role and helped rally support for Trump within the GOP.
Later, after Trump’s 2020 election loss, Gingrich supported the false claims of election fraud, promoting the idea that the election was “stolen” and even calling for the arrest of poll workers in Pennsylvania.
Net Worth Sources and Financial Growth
Newt Gingrich’s wealth is primarily derived from his involvement in various non-profit and for-profit organizations, including the Gingrich Group, LLC, and Gingrich Productions, Inc..
These companies have made significant contributions to his net worth, particularly with multi-million-dollar promissory notes associated with them.
His net worth grew from $2.4 million in 2006 to $6.7 million in 2011, reaching $12 million in more recent estimates.
