Pete Hegseth built his career across military service and conservative media before becoming Secretary of Defense. Following his military service he transitioned into conservative media, ultimately becoming a co-host of Fox News's "Fox & Friends Weekend," a role that became his primary source of wealth. His most recent financial disclosure showed he earned $4.6 million from Fox News between January 2022 and November 2024 — roughly $2.4 million a year [Yahoo Finance, 6/1/25].
As of 2025: Hegseth and his wife, Jennifer, who worked as a producer at Fox News, had a combined net worth of $3 million. [Forbes, 2/7/25]. Beyond his Fox salary, he earned roughly $900,000 from 41 paid speeches to conservative organizations including Turning Point USA and the Heritage Foundation, plus book royalties and advances — a $348,000 advance for "The War on Warriors" and a $150,000 advance for "Battle for the American Mind," each also generating between $100,000 and $1 million in royalties. [Forbes, 2/7/25] His disclosure also listed ETF holdings ($380,000 to $850,000), a rental property in Baltimore, and his wife’s stock positions and up to $50,000 in Bitcoin. [Inkl, 3/1/25]
Despite his book deals and speaking engagements, Hegseth’s net worth remains low relative to his cabinet peers. Per his financial disclosure, 2/3rds of his combined net worth with his spouse belongs to her. This dynamic is driven partly by two divorces, which Forbes noted as a significant factor tamping down his fortune despite years of Fox News income. [Forbes, 2/7/25]
| Year | Assets | % Change |
|---|---|---|
| 20241 | $1.4 million to $3.4 million | n/a |
| 20252 | $3.2 million to $5.7 million | 132% / 67% |
1Pete Hegseth - OGE Financial Disclosure, 12/23/24
2Pete Hegseth - OGE Financial Disclosure, 5/14/26
Concerned Veterans for America
CEO, 2012-15
Fox News Network LLC
TV host, 2022-24
Vets for Freedom
Executive director, 2007-10
Sources
Pete Hegseth - OGE Financial Disclosure, 12/23/24; HillVets, viewed 10/2/26