OCT 16, 2023
Pritzker releases tax returns showing $2.25M of 2022 income
Gov. JB Pritzker holds a news conference in September 2022.
America’s richest politician, Gov. JB Pritzker and his wife, MK Pritzker, made about $2.25 million in 2022, according to tax returns released on Friday.
Pritzker is the 326th wealthiest person in America, according to rankings released by Forbes earlier this month, with a net worth of $3.5 billion. He is the heir to the Hyatt Hotels and spent most of his career in the tech world and various philanthropic efforts before running for governor in 2018.
Pritzker’s $2.25 million income in 2022 largely comes through investments in trust funds, as he does not take a salary for working as governor.
2022 was a light income year for Pritzker, who reported an $18.5 million income in 2021, according to the Tribune. Pritzker made $5.1 million in 2020, $2.4 million in 2019, $4.4 million in 2018 and $55 million in 2017.
According to a spokesperson for Pritzker, his trusts paid $7.2 million in state taxes and $42.3 million in federal taxes. The first couple also gave $1.1 million to charity in 2022.
Pritzker’s state income tax form shows he paid $108,982 in state taxes, along with $2,452 to another unnamed state.
Pritzker’s federal income tax form shows he paid $209,948 in federal taxes. About $2 million of his $2.25 million came through ordinary earnings through his investment, while the other quarter million came through capital gains. Pritzker has two dependent children but did not claim any child tax credit for them. He was able to claim an $88,000 foreign tax credit.
Pritzker has kept much of the information about where exactly his earnings come from private. A 2022 statement of economic interests most elected officials and state employees are required to file contains seven pages of assets he old across a variety of industries. His 2023 statement is six pages long.
An investigation by the Better Government Association (BGA) last year found many of the companies Pritzker is invested in received hefty state contracts, though Pritzker’s assets are in a blind trust, meaning he is not part of any decisions made for the trust. However, experts told the BGA that the trust isn’t entirely blind because he is required to publicly disclose his assets, which would make him aware of what is in his portfolio. Pritzker has not been accused of any wrongdoing.
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