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Fudge owns real estate and government pensions that make up a $2 million estimated net worth.
After more than four decades in public service, Marcia Fudge, Joe Biden’s secretary of housing and urban development, is not filthy rich but is certainly comfortable, worth an estimated $2 million.
Much of her portfolio is concentrated in residential real estate, fitting for a HUD secretary. Fudge owns four homes. Three are in Warrensville Heights, Ohio, a suburb of Cleveland, where she served as mayor from 2000–08. She carries mortgages on two of the properties. On her most recent financial disclosure report, filed in December, Fudge said she rented one of the houses, collecting less than $15,000 in 2019 and 2020 for doing so.
Marcia Fudge Vs. Ben Carson
Carson, a former neurosurgeon, joined the boards of Costco and Kellogg in the late 1990s, earning more than $5 million.
Inside Fudge’s Wallet
The HUD secretary has a pretty plain portfolio, consisting of two pensions, a retirement account, four homes and a couple of cash accounts.
In 2008, she went from the mayor’s office to the U.S. House of Representatives, winning a special election to fill a vacancy in Ohio’s 11th district. Fudge currently owns a condo in the nation’s capital that she bought for $400,000 in 2016, using a $200,000 mortgage to finance the purchase.
Government service has provided Fudge with two valuable pensions, worth about $1.1 million combined. The larger of the two, valued at roughly $700,000, is an Ohio state pension. Earlier in her career, she worked for Cuyahoga County, in the prosecutor’s office, budget commission and the personal property tax department. Thanks to her years in Congress, she has a federal pension as well, worth an estimated $400,000.