Jason Chaffetz will be leaving Congress at the end of the month. After just recently winning another term in House of Representatives, he made an abrupt decision to quit public service and returns the private sector.
Although it’s not clear why Chaffetz is leaving Congress so abruptly, he is bound to be making quite a penny outside of government. In fact, he has recently signed a deal to start doing commentary on Fox News starting July 1.
So what is Jason Chaffetz net worth? How much will he be earning in the private sector?
Jason Chaffetz is not super rich.
Surprisingly, even though he makes over $170,000 a year as a congressperson, Chaffetz is one of the less wealthy people in Congress.
Much of Chaffetz worth is in his house which is valued at less than $1 million. Aside from that, Chaffetz has cash and investments worth less than $1 million, although reports vary as to how much they’re worth exactly.
Generally, from public record, we approximate that the value of Chaffetz’s investments and cash is between $300,000 and $800,000.
In total Jason Chaffetz net worth is estimated at around $2 million as of today.
Jason Chaffetz will likely be raking in the cash once he joins the private sector.
According to The Hill, Chaffetz could easily command $1 million or more annually as a lobbyist given his experience on the House oversight committee and his prominence in government.
Chaffetz is already signed a deal with Fox News as a contributor. He will be appearing on Fox’s news channel as well as Fox’s business channel.
While Fox does not reveal exactly how much they’re paying Jason Chaffetz, we can estimate his Fox salary based on the salaries of other contributors and reporters.
An average reporter at Fox makes around $500,000 per year. Contributors, meanwhile, vary greatly; however given Chaffetz’s prominence, he is likely to command the top range. We estimate that he will receive over $100,000 per year for his work.
Chaffetz appears to be lobbying to get his own show on Fox. If he manages to do that, his salary will skyrocket into the tens of millions of dollars per year.
If Chaffetz decides to join a Fortune 500 board, as he has previously expressed interest in doing, he will be able to add another $250,000 per year in salary and stock compensation to his bottom line.