California Governor Gavin Newsom and his wife, Jennifer Siebel Newsom, have released their joint tax return for 2024, a move that has drawn criticism for the limited access granted to journalists. The governor's office stated the release was intended to counter accusations of personal enrichment while in office.
The couple's 2024 tax return revealed a combined income of $1.39 million, with over $1 million stemming from investments. Journalists permitted to view the documents were reportedly restricted to taking notes by hand and were prohibited from making copies. This selective access has led some outlets, such as the California Post, to accuse Newsom of being "shady" and "cherry-picking" which media organizations could review the records.
Republican lawmakers have also voiced concerns about the transparency of the release. Representative Kevin Kiley commented that "If the governor is truly committed to transparency, it makes little sense to pick and choose who that transparency extends to." Representative James Gallagher echoed this sentiment, stating, "He talks big about things but never actually delivers. This is another instance of that."
Newsom's spokeswoman, Izzy Gardon, defended the process, calling the California Post's claims "idiotic." She stated that the governor's tax returns were released in the same manner as in the past, providing access to members of the "independent press corp," including the Associated Press and The New York Times, among eight other outlets. Gardon characterized the criticism as misinformed, suggesting that only an "idiot" would deem the procedure "sneaky" or "cherry picked."
The released tax records also include Newsom's $192,000 gubernatorial salary and his wife's $148,000 salary. Returns from 2021 to 2024 indicate that their income has remained relatively consistent since Newsom's 2022 reelection, with a peak income of $3.5 million in 2021 following the sale of a property. The majority of the couple's income is derived from investments in the wine and hospitality industries, which are held in a blind trust.
The tax returns were released as the governor and his wife are reportedly subjects of a federal investigation into their finances. While the focus of the investigation has not been fully disclosed, a source indicated to The Post that it primarily concerns Siebel Newsom's taxes. The returns show Siebel Newsom received $150,000 in wages from The Representation Project and an $11,700 salary from her production company, Girls Club Entertainment. Over the past four years, the couple has paid nearly $3 million in federal taxes and approximately $500,000 to California. They also reported paying $200,000 to household staff in 2024.
Additionally, Newsom earned $70,000 in 2023 and $75,000 in 2024 as an author, though the specific works are not detailed. Newsom has previously been critical of former President Donald Trump for withholding his own tax returns. Newsom is the first California governor in history to publicly release tax returns covering every year of his term, and he signed an executive order on his first day in office barring state agencies from doing business with his companies. Newsom has also publicly accused Trump of targeting potential 2028 Democratic presidential candidates, a field in which he is widely speculated to be a contender.