California Gov. Gavin Newsom and his wife released four years of tax returns on Friday, showing millions in annual income and shedding light on the family finances as the governor considers a run for president in 2028.
Newsom earns a salary of nearly $200,000 a year as governor. That’s pocket change compared with what flows from The PlumpJack Group, his hospitality empire of wineries and restaurants. Newsom put those assets in a blind trust when he took office in 2019, and they are now managed by his sister and cousin.
His wife, Jennifer Siebel Newsom, has not fared as well. Her production company, Girls Club Entertainment, which made the 2011 documentary “Miss Representation,” lost money in most years. There was a bright spot in real estate: the couple sold a Marin County home for nearly $6 million, turning about $800,000 in profit—and paying more than $1 million in taxes that year.
The 700-plus pages of filings also lay out personal expenditures and charitable donations. But they do not itemize earnings or losses for individual businesses inside the blind trust, so it’s impossible to know which wineries or restaurants are making money.
Add to that a missing piece: the Newsoms have not yet completed their 2025 returns. They’ve filed for an extension, with the full picture due in October.
This account is based on the official tax returns released by the governor’s office for media review.