California Gov. Gavin Newsom released years of his tax returns on Friday, meeting a self-imposed deadline after a period of questions regarding his disclosure of financial information.
The filings indicate that Newsom and his wife, Jennifer Siebel Newsom, earned between $1.7 million and $2 million annually from 2022 through 2024. During this period, they paid approximately half a million dollars per year in federal and state taxes, according to an analysis by the Associated Press.
The governor's office provided more than 700 pages of tax documents covering four years. Newsom had previously stopped releasing his tax returns after the 2020 tax year, despite having pledged to disclose them annually while in office.
Newsom's gubernatorial salary of roughly $200,000 per year represented a small portion of the family's income. The majority of their earnings came from winery, restaurant, and hospitality businesses that were placed in a blind trust after Newsom took office. The returns do not specify which individual businesses generated profits or losses.
According to the AP's review, Siebel Newsom's production company, Girls Club Entertainment, reported losses in most years. The couple donated between $40,000 and $65,000 annually to charities, in addition to thousands of dollars worth of clothing and household goods. Their expenses for childcare for three of their four children ranged from $14,000 to $44,000 per year.
The governor's office stated that the 2025 tax returns were not included because the couple filed for an extension and expect to complete them in October.
Earlier in the month, Newsom's office indicated that the remaining returns would be shared, and a spokesperson confirmed they would be released on Friday.
Newsom's tax filings attracted increased attention last month after he disclosed that he and Siebel Newsom are subjects of a federal investigation. Newsom has described this investigation as politically motivated, suggesting it is part of a pattern of the Trump administration weaponizing the Justice Department against potential political opponents.
Reports indicate that one federal inquiry is examining Siebel Newsom's taxes. Separately, federal investigators also investigated Newsom's former chief of staff, Dana Williamson, who pleaded guilty in May to charges including conspiracy to commit bank and wire fraud, filing a false tax return, and lying to the FBI. Williamson is scheduled for sentencing in September.
Newsom has a history of advocating for financial transparency among elected officials. During his 2018 gubernatorial campaign, he released multiple years of tax returns dating back to 2011. In 2019, he signed a law requiring candidates for governor to publicly disclose five years of federal income tax returns prior to the primary election ballot. He had also committed to continuing his annual release of personal tax returns while serving as governor.
Asked about the newer returns earlier this month, Newsom expressed surprise that they had not yet been released, joking about tax interest before criticizing President Donald Trump. He reiterated his long-standing practice of releasing his taxes, stating he had done so for decades and assuring that all new tax returns would be made available.