About half of Becerra’s $ 7 million fortune comes from real estate.
The son of two working-class immigrants from Mexico, Health and Human Services Secretary Xavier Becerra speaks often of his formative years in Sacramento. “We never had any brand name clothes. I’ve never had Levi’s jeans or Converse sneakers or things like that ”, Becerra Told the Sacramento Bee in 2016. “But we always ate well. “
Today, Becerra can afford a little more luxury in her life. He and his wife Carolina Reyes, a doctor, share an estimated fortune of $ 7 million. About half of that comes from their real estate, worth about $ 3.5 million after debt. Becerra and Reyes also have retirement accounts and other investments worth at least $ 1.5 million, as well as two government pensions worth $ 1.1 million.
Becerra’s father was born in Sacramento but moved to Mexico when he was little and grew up there. Her mother was born in Mexico. The couple married and immigrated to California. His mother would have found office work, while his father found jobs as a laborer, picking vegetables, canning tomatoes for Campbell, repairing railroad cars, and as a construction worker.
“He was treated as if he was not a citizen”, Becerra Told the Los Angeles Times in 2017. “He couldn’t get into restaurants because the sign said ‘Dogs and Mexicans are prohibited’. He harvested the food they ate in those restaurants, but he couldn’t go in and eat.
Becerra vs. Azar
Xavier Becerra has spent most of his career in the public sector, while Alex Azar, his predecessor, spent a decade at pharmaceutical giant Eli Lilly, earning an annual salary of nearly $ 2 million.
Education provided a path for the upper class. Becerra entered Stanford University and became the first member of her family to earn a bachelor’s degree. He graduated in 1980 and then got his law degree there as well, in 1984. After that he moved to Massachusetts while his wife was working on her medical degree at Harvard.
First, in 1986, he worked for California State Senator Art Torres. Then he got a post of Assistant Attorney General in the California Civil Division. In 1990, he won the California state assembly election, but he didn’t stay long. After US House of Representatives member Edward Roybal announced his intention to retire, Becerra decided to make an offer for Congress. Then 34 years old, Becerra was presented as a “rising star” in the Los Angeles Times when he won the Democratic Party primaries in June 1992, beating nine other Democrats, before winning the general election.
Upon arriving in Washington, Becerra started with a salary of $ 133,600, the norm for all members of Congress at the time. Over the next 24 years, he became the first Latino to sit on the House Ways and Means Committee, and he also earned a federal pension worth over $ 750,000 today.
In Becerra’s portfolio
About half of Becerra’s fortune is held in real estate. He owns three homes in Sacramento and two in Los Angeles, four of which he rents, earning at least $ 60,000 a year.
In 2016, after Kamala Harris won her race for the US Senate, California Governor Jerry Brown had to appoint someone to replace her as state attorney general. He chose Becerra. The new role put Becerra among the best California’s highest-paid public servants, earning an annual salary of around $ 170,000 in 2017. Returning to California full-time, Becerra and Reyes sold their home in Chevy Chase, Maryland for $ 1.6 million in 2017 and bought a new home in Sacramento for $ 955,000. The following year, they sold a condo in the Capitol Hill neighborhood of Washington DC for $ 290,000 and bought two more properties in Sacramento: a townhouse for $ 460,000 and a three bedroom for $ 527,000. They took out mortgages on the properties and started renting them out.
In addition to her government roles, Becerra is somewhat of a small owner. He also rented two other homes in Los Angeles, one in the Monterey Park area, worth about $ 575,000, and another in Eagle Rock, worth an estimated $ 1.4 million. In total, Becerra received at least $ 60,000 in rental income in 2020, according to its latest financial disclosure report. Amid the worst of the Covid-19 pandemic in 2020, he voluntarily took a $ 7,000 pay cut from his salary as attorney general, according to his latest financial disclosure. Now, back in Washington, Becerra is earning over $ 200,000 for her role in Joe Biden’s cabinet.
While Becerra has built a career as a power player in Washington, his wife, Carolina Reyes, is established in her field of Maternal-Fetal Medicine, a specialty area of obstetrics that focuses on high-risk pregnancies. . His income is varied. In 2020, she received income from Valley Medical Group and the University of California Davis, more for serving on the boards of Providence St. Joseph Health and the California Health Care Foundation, and even more than one healthcare staffing company named CompHealth.