Article Summary
- JB and MK Pritzker reported earning $10.7 million in 2024, according to tax returns released by Pritzker’s campaign.
- The year ranks as the Pritzkers’ second-highest earning year since launching his 2018 campaign.
- Much of Pritzker’s 2024 income came from capital gains. Pritzker put most of his investments in a blind trust before taking office.
- Pritzker’s running mate, Christian Mitchell, also released his 2024 tax returns showing he made nearly $600,000.
This summary was written by the reporters and editors who worked on this story.
SPRINGFIELD (Capitol News Illinois) — Gov. JB Pritzker made more than $10 million in adjusted gross income in 2024, according to tax summaries released by his campaign Tuesday.
The summaries offer a glimpse into the billionaire governor’s finances, although the campaign did not disclose the total income of trusts benefiting his family. Pritzker does not take a salary from the state and placed his assets in a “blind” trust when he became governor.
The 2024 summary prepared by Deloitte Tax LLP shows Pritzker and his wife, MK, made $10.7 million, including $4.2 million from capital gains. Pritzker received a $4.8 million standard deduction, meaning he paid taxes on $5.9 million in income.
The trust benefiting the Pritzkers paid $4.5 million in state taxes and $30.2 million in federal taxes last year, according to his campaign.
The first family also reported $3.3 million in charitable donations.
Net worth approaching $4B
The governor is an heir to the Hyatt Hotel fortune and is one of the wealthiest politicians in American history. He’s currently worth $3.7 billion, making him the 979th richest person in the world, according to Forbes. President Donald Trump is the only current elected official worth more, with a net worth estimated at $5.1 billion, ranking him 700th in the world.
Pritzker has self-funded two campaigns for governor with more than $300 million and is expected to shell out millions more for his 2026 campaign while rumors swirl that he will seek the presidency in 2028.
His 2024 tax year ranks as one of his best since taking office. The Pritzkers reported $3.2 million in taxable income in 2023 and have generally made between $2 million and $5 million each year he has been governor. However, the Pritzkers reported making $18.5 million in 2021, largely from capital gains, the Tribune previously reported.
Before running for governor, Pritzker made $55 million in 2017, which was the year he left his private equity firm, according to the Tribune. Forbes currently ranks Pritzker as the sixth-wealthiest member of the family.
Before taking office, Pritzker placed most of his investments in a “blind” trust, meaning he doesn’t manage it but does reap profits from it.
Running mate releases tax documents
Pritzker’s running mate, Christian Mitchell, also released his 2024 tax summaries. Mitchell most recently worked for the University of Chicago as vice president of civic engagement.
Mitchell made $595,830 last year and claimed a $65,841 deduction.
Read more: Pritzker selects former Deputy Gov. Christian Mitchell as running mate
Mitchell served as one of Pritzker’s deputy governors during his first term. He is also an active member of the Illinois National Guard.
By Ben Szalinski
Capitol News Illinois
bszalinski@capitolnewsillinois.com
Capitol News Illinois is a nonprofit, nonpartisan news service that distributes state government coverage to hundreds of news outlets statewide. It is funded primarily by the Illinois Press Foundation and the Robert R. McCormick Foundation.
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