Iveta Mukuchyan
$3 million
Pete Hegseth’s net worth is estimated at $3 million, a figure he shares jointly with his wife Jennifer Rauchet Hegseth. The former Fox News host and retired Army National Guard Major is best known today as the 29th United States Secretary of Defense, confirmed by the Senate on January 24, 2025, in a 51–50 vote—the narrowest margin for any Cabinet confirmation in modern history.
Updated March 2026: According to Forbes, Hegseth’s net worth stands at approximately $3 million, held jointly with his wife—a figure that is notably modest relative to other Cabinet members, largely because his primary earning years coincided with public service and media employment rather than private equity or real estate accumulation.
Peter Brian Hegseth was born on June 6, 1980, in Minneapolis, Minnesota, and grew up in Forest Lake, a suburb north of the Twin Cities. He graduated as valedictorian of Forest Lake Area High School in 1999. Hegseth earned a Bachelor of Arts in Politics from Princeton University in 2003, where he also participated in ROTC and was commissioned as an Army officer upon graduation. He later earned a Master of Public Policy from Harvard Kennedy School in 2013 while simultaneously managing his military and media commitments.
His father worked as a school activities director and his mother as a leadership coach—a middle-class upbringing that Hegseth has frequently cited in public speeches about American meritocracy. His academic trajectory at two Ivy League institutions positioned him for careers in both public service and media commentary.
Hegseth’s career spans three overlapping tracks: military service, nonprofit leadership, and broadcast media. After commissioning in 2003, he deployed twice overseas—to Guantanamo Bay, Cuba (2004) and Iraq (2005–2006) with the 3rd Brigade Combat Team, 101st Airborne Division—earning two Bronze Star Medals. He later served in Afghanistan with the New Jersey Army National Guard in 2012.
From 2007 to 2015, Hegseth served as executive director and then CEO of Vets for Freedom and later Concerned Veterans for America, a Koch-network-affiliated advocacy group. According to financial disclosures reported by Business Insider, his nonprofit salaries reached up to $182,000 annually. He made an unsuccessful run for the U.S. Senate in Minnesota in 2012.
Hegseth joined Fox News as a contributor in 2014 and became a co-host of Fox & Friends Weekend in 2017. He remained with Fox until his Senate confirmation, hosting the program for seven years and becoming one of its highest-rated weekend personalities. He also authored multiple books, including In the Arena (2016) and The War on Warriors (2024).
On January 24, 2025, the Senate confirmed Hegseth as Secretary of Defense in a 51–50 vote, with Vice President JD Vance casting the tie-breaking vote. His tenure has been marked by significant controversy, including a March 2025 incident in which he shared operational details about Yemen strikes in a Signal group chat that inadvertently included a journalist, and a Pentagon spending review in September 2025 that drew scrutiny over procurement decisions.
Despite substantial peak earnings, Hegseth’s net worth is relatively low because a significant portion of income was directed toward living expenses, legal matters, and family costs associated with a blended nine-person household across three marriages.
Hegseth has been married three times. He was first married to Meredith Schwarz from 2004 to 2009. His second marriage, to Samantha Deering, lasted from 2010 to 2018. He married his current wife, Jennifer Rauchet—a former Fox News producer—in 2019. He has acknowledged infidelities during his first two marriages in published interviews.
He has seven children in a blended family: biological sons Gunner (born 2010), Peter Boone (born 2012), and Rex (born 2015) from his second marriage; a daughter, Gwendolyn (born 2017), with Jennifer Rauchet; and three stepchildren from Jennifer’s previous relationship. The family homeschools all children and resides in Tennessee. Hegseth has several tattoos, including a Jerusalem cross and the Latin phrase Deus Vult.
Pete Hegseth’s net worth is estimated at approximately $3 million, held jointly with his wife Jennifer Rauchet Hegseth, according to Forbes. This figure is modest relative to most Cabinet members and reflects a career spent in public service, nonprofit leadership, and media rather than private-sector wealth accumulation.
The bulk of Hegseth’s earnings came from his Fox News salary (approximately $4.6 million over 2023–2024), paid speaking engagements ($900,000 over the same period), and book advances and royalties ($700,000–$2.5 million). Prior nonprofit executive roles and military service also contributed, though at lower compensation levels. He now earns $235,100 annually as Secretary of Defense.
As of March 2026, Pete Hegseth continues to serve as the 29th U.S. Secretary of Defense, a position he has held since January 24, 2025. His tenure has included significant military operations and policy changes at the Pentagon, as well as several high-profile controversies related to personnel decisions and communications practices.