California Gov. Gavin Newsom’s announcement that he and his wife are the subjects of a federal investigation has brought renewed attention to the couple’s financial holdings, business interests, and nonprofit activities as questions continue to swirl around the probe, as reported by The New York Post.

Newsom revealed Monday in a pre-recorded social media video that the Department of Justice is investigating him and his wife, Jennifer Siebel Newsom.

The governor accused President Donald Trump of directing the FBI and DOJ to pursue the matter because of a potential 2028 presidential campaign.

According to sources cited in the report, the U.S. Attorney’s Office for the Eastern District of California is investigating allegations raised by California whistleblowers involving Jennifer Siebel Newsom’s taxes, former Newsom chief of staff Dana Williamson, and potentially other statehouse staff members.

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The renewed attention has also highlighted the governor’s substantial personal fortune, which is estimated at roughly $30 million.

By comparison, Newsom’s annual gubernatorial salary of $245,929 represents only a small portion of his overall wealth.

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Newsom entered politics as a wealthy businessman before becoming mayor of San Francisco in 2004.

At the time, he was reportedly worth approximately $6.9 million, largely due to his ownership interests in wine and hospitality ventures that grew through relationships connected to the influential Getty family.

His father, William Newsom, was an attorney and appeals court judge who maintained a close relationship with billionaire Gordon Getty.

William Newsom was entrusted with delivering a $2.2 million ransom following the July 10, 1973, kidnapping of John Paul Getty III by the Italian mafia.

Gordon Getty’s son, Billy Getty, later partnered with Newsom in launching the Balboa Cafe and PlumpJack businesses. PlumpJack eventually expanded into a network of wineries, restaurants, and hotels throughout California.

Newsom has previously suggested that tensions developed between him and Billy Getty due to his relationship with Gordon Getty, contributing to a falling out between the former business partners.

The governor’s business interests have continued to attract attention during his political career. Previous reporting found that approximately $50,000 in donor funds was spent at PlumpJack properties.

Newsom and his wife also own two high-value California properties.

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In 2018, shortly before becoming governor, the couple purchased a 12,600-square-foot residence in Fair Oaks for $3.7 million.

State records show they financed $2.7 million of the purchase through a mortgage. Rather than moving into the governor’s mansion, Newsom chose to remain at the Fair Oaks property.

The family later purchased a home in Kentfield, located in Marin County, about 20 miles north of San Francisco. The property was acquired near the end of 2024 for $9.1 million and carried a $6.5 million mortgage.

The move allowed the couple’s four children to attend local private schools.

Newsom has also generated income through publishing. His memoir, “Young Man in a Hurry,” has been viewed by some political observers as laying the groundwork for a possible 2028 presidential campaign.

Campaign finance records showed that Newsom’s political action committee spent approximately $1.6 million purchasing copies of the book. Disclosure forms indicated he earned more than $100,000 through publication payments and royalties.

While Newsom’s podcasts have attracted attention as another possible vehicle for a future national campaign, disclosures indicate they have not generated personal income because state rules prohibit him from receiving such earnings while serving in office.

Much of the current focus surrounding the federal investigation appears tied to Jennifer Siebel Newsom’s nonprofit and business activities.

Siebel Newsom maintains a separate blind trust reportedly holding at least $1 million in assets. She serves as the founder of the nonprofit Representation Project and receives an annual salary exceeding $150,000 from the organization.

The nonprofit has also paid approximately $150,000 annually to Girls Club Entertainment, Siebel Newsom’s media production company, which produces documentary films.

Another nonprofit founded by Siebel Newsom, the California Partners Project, has also drawn attention.

Previous reporting indicated that more than $4.4 million in donations were directed to the organization from groups and individuals with business interests before the state.

The California Partners Project has worked on initiatives overlapping with those of the Representation Project.

While such fundraising activities are legal, they have generated concerns among critics regarding potential conflicts of interest.

“They are not breaking any laws,” said Dan Schnur, a teacher of political communications at USC and UC Berkeley, “but [Newsom] is following this law more aggressively than any other politician in modern memory.”

Financial disclosure records also show that Newsom previously held investments in companies, including Intel and Merck & Co., before becoming governor. He currently maintains a blind trust reportedly worth more than $1 million and invested primarily in mutual funds.

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