On the night of January 25, 2025, a narrow 51-to-50 Senate vote propelled Peter Brian Hegseth from his role as a weekend host on Fox News to the top of the US military command.
In the six months since, Hegseth has become a constant figure in political media, amid escalating international tensions.
Because of his ties to the billionaire class backing the current administration, many Americans assume Hegseth is equally wealthy. But his financial disclosure, published by the Office of Government Ethics, suggests otherwise.
Years of generous spending habits, modest book income, and only moderately lucrative media work have left the Defense Secretary far less affluent than most people believe.
This piece breaks down Hegseth’s finances, separates the spotlight from the substance, and examines how his new cabinet role could shape his future financial trajectory.
Why Everyone Gets Hegseth’s Net Worth Wrong
A decade on Fox News and frequent appearances with Donald Trump have made many overestimate Pete Hegseth’s financial status. His pre-cabinet salary ran into the millions, so the public’s assumption isn't totally off.
Still, earlier estimates, including from Celebrity Net Worth, focused purely on assets and speculative earnings.
In reality, Hegseth has suffered several financial losses.
Forbes reported that multiple divorces have drained a substantial chunk of his earnings. The Goodlettsville estate boosting his portfolio? It’s co-owned with his wife, Jennifer Rauchet.
As Vanity Fair recounts, Hegseth married his high school sweetheart, Meredith Schwarz, in 2004, but the relationship ended in 2008 following infidelity allegations.
He married Samantha Deering in 2010, had three children with her, then entered into an affair with his Fox News colleague Jennifer Rauchet, who was also married at the time.
After Rauchet became pregnant, Deering filed for divorce. A court ordered Hegseth to pay at least $1.3 million in support and tuition.
With those financial obligations, Forbes estimates his share of the couple’s $3 million net worth at just about $1 million. Urban Splatter notes their 77-acre Tennessee estate featuring a pool, home theater, guesthouses, and a small farm comes with a hefty $19,000 monthly mortgage.
On a positive note, Newscast Studio and IXBroker confirm that Hegseth previously owned a Baltimore rental property, netting him between $100,000 and $1 million before he sold it in 2023.
He also holds up to $50,000 in Bitcoin, three accounts worth up to $15,000 each, and two interest-bearing accounts valued up to $50,000.
By contrast, his wife’s retirement savings, estimated at $2.3 million, make up the lion’s share of their wealth.
How Much Hegseth Earned in the Military
Pete Hegseth studied Politics at Princeton University, where he joined the Army ROTC and graduated in 2003. He was commissioned as a second lieutenant and, according to the US Department of Defense, went on to serve in Guantanamo Bay, Iraq, Afghanistan, and the Army National Guard.
Unlike full-time soldiers, National Guard officers serve part-time and follow a different pay scale.
The US Army lists base pay for part-time second lieutenants at $7,730, rising to $8,900 for first lieutenants in their initial years.
Hegseth advanced to first lieutenant in 2005 and served in Iraq as an infantry platoon leader. He was promoted to Captain in 2012, then Major in 2015, and returned to the National Guard via the Individual Ready Reserve in 2019.
Standard pay rates suggest that between 2003 and 2024, he earned at least $79,000 in base salary. But this doesn’t account for additional military compensation.
Officers often receive signing bonuses, housing stipends, and other benefits that may double their take-home earnings.
Even after leaving the Guard, Hegseth qualifies for Veterans Affairs benefits. The VA offers former service members healthcare, loans, education programs, and disability compensation.
As The Washington Post reported, he was flagged as a potential "insider threat" and barred from attending the Biden inauguration in 2021 due to a controversial tattoo.
He later resigned from the Guard in January 2024.
While serving, Hegseth also published books and hosted Fox News programs, diversifying his income sources significantly.
Fox News Income
Pete Hegseth joined Fox News as a contributor in mid-2014 and soon moved into a weekend co-hosting role on Fox and Friends.
By December 2024, Fox announced the show had 1.2 million viewers and remained cable’s top morning show for twenty-three years running.
Still, there's little evidence this record was due to Hegseth. He exited the network in November 2024 after being nominated for Secretary of Defense.
Following his departure, viewership actually increased, climbing to 1.5 million in early 2025, per Fox Corporation.
Despite limited impact on ratings, his time in the media paid well.
His financial disclosure shows $4.6 million in hosting income over two years, about $2 million annually, plus significant visibility that boosted book and speaking earnings.
The Book Sales Look Good but Not Explosive
In 2020, Fox News signed a publishing deal with Harper Collins to promote books by its hosts. Since then, Pete Hegseth has released five titles, from American Crusade in May 2020 to War on Warriors in June 2024.
The Boston Globe reports that four of them reached the New York Times Bestseller list.
According to his disclosure, Hegseth earned $348,000 and $150,000 in advances for Battle for the American Mind and The War on Warriors, respectively.
He also cleared over $100,000 in royalties for each. American Crusade, however, fell flat, generating under $5,000.
Still, the books served more than financial purposes. The New York Post says his commentary on military “wokeness” and its effect on recruitment helped secure his nomination as Defense Secretary.
Despite a long media presence, Hegseth never landed brand endorsements. The Guardian attributes that absence to allegations of rape, alcoholism, and financial misconduct tied to his nonprofit roles.
Instead, he's turned to speaking engagements at far-right events. His financial disclosure shows he earned nearly $1 million in honorariums over two years, with individual fees ranging from $7,500 to $27,000 across forty-one appearances.
His media career brings solid income, but many other public figures have turned fame into surprising fortunes.
Why Cabinet Title Doesn’t Guarantee Wealth
Pete Hegseth entered politics in 2012 with a short-lived bid for the US Senate from Minnesota. He dropped out ahead of the primaries after losing the Republican endorsement, as reported by the Minnesota Star Tribune.
Twelve years later, he returned to the political spotlight when Donald Trump nominated him for Secretary of Defense.
In his statement, published by the UC Santa Barbara American Presidency Project, Trump said, "Pete has spent his entire life as a warrior for the troops and for the Country... America will never back down."
But the cabinet post doesn't pay like primetime TV. The Office of Personnel Management lists the 2024 annual salary for a Level 1 Executive at $246,000.
That’s roughly a tenth of Hegseth’s previous earnings, and even less than the advance on his most recent book.
So, while the promotion may have raised his profile, it's been a financial downgrade.
FAQ
What are Pete Hegseth’s college degrees in?
Peter Hegseth has a Bachelor’s degree in Politics from Princeton and a Master’s degree in Public Policy from the John F. Keneddy School of Government, Harvard University.