Mike Johnson, the current Speaker of the House, gave his first address mentioning his father who was a firefighter in Shreveport, Louisiana. Johnson, owning assets worth about $350,000, is the least wealthy House Speaker in recent times. Other former speakers like Kevin McCarthy, Paul Ryan, John Boehner, and Nancy Pelosi had substantial investments and assets worth millions. With his primary asset being his home in Benton, Louisiana, Johnson’s financial status is closer to that of an average American his age rather than his predecessors.
Born in 1972 in Shreveport, Louisiana, Johnson attended Louisiana State University and later law school before marrying Kelly Lary in 1999. Together they raised a Black 14-year-old boy, eventually adding four biological children of their own. Johnson built his legal career focusing on religious liberty issues and conservative Christian legal advocacy. While working at the Alliance Defense Fund, he supported same-sex marriage bans and anti-sodomy laws, and even founded a Christian legal advocacy group, Freedom Guard.
After a failed attempt at establishing a Christian law school, Johnson worked at a Louisiana law firm earning a substantial income. In 2015, he was elected to the Louisiana state House before moving on to Congress the following year. Despite taking a pay cut, Johnson has managed financially through various ventures including his wife’s Christian counseling company and teaching college courses online. He maintained a low profile in Congress until leading the effort to overturn the 2020 election results by filing an amicus brief with 105 colleagues urging the Supreme Court to invalidate some states’ electoral votes.
Promoted to Speaker of the House in 2023, Johnson’s salary increased to $223,500, with his federal pension becoming more valuable with time in office. However, a challenge from Rep. Marjorie Taylor Greene could end his speakership prematurely. Johnson’s financial situation hasn’t changed much since joining the federal government, with no significant savings other than his pension and his home equity. His Thrift Savings Account, estimated to be around $60,000, is his only other possible asset.
With four children reaching college age, Johnson’s lack of savings may pose challenges not faced by his predecessors. Despite this, he sees his modest portfolio as a positive quality that allows him to relate to hard-working American families. Johnson’s financial status is a stark contrast to his predecessors who held substantial investments and assets during their time as Speaker of the House. Despite the financial differences, Johnson’s rise to power and leadership style could provide a new perspective and relatable approach for many Americans.
