When Stacey Abrams first ran for Georgia governor in 2018, her opposers went after her finances, including a hefty bill from the IRS. Republicans question how could the ambitious democrat manage a state budget when she struggles with her debts. As she returns for another go at it, Abrams is now worth $3.17 million, according to state disclosures filed in March. That’s a huge difference compared to her net worth of $109,000 from when she first ran.
Her rapid rise into millionaire rank fits her height in the political world. Since her 2018 defeat to Republican Brian Kemp, The millionaire has become a famous voting rights activist. She was regarded as a potential running mate to President Biden and credited when it came to managing voters in Georgia to support him become the first Democrat to carry the state on the presidential ballot in twenty-eight years.
Now that she has acquired wealth to silence her rivals, she faces a different sort of criticism from Republicans. They hope to portray Abrams this Year as an “elitist out of touch with average Georgians.”
Spokesmen for the national Republican Party, Garrison Douglas, accused the democrat of using her campaign “as a platform for her financial gain.”
During a Trump rally last month, former President Donald Trump verbally slammed her for “living in these gorgeous multi-multi-million-dollar houses.”
Abrams has not purchased a home exceeding $1 million. The leading Republicans pursuing the nomination for governor Brian Kemp and David Perdue, are far wealthier than she is.
During an interview with Abrams, she expressed how ironic it was for Republicans to attack her financial success while it is one of the things the party praises as the result of hard work.
“It is remarkable to me that success is now being demonized by the Republicans,” she said. “I believe in success. I believe that every person should have the opportunity to thrive. And because I had three years where I was in the private sector, I leveraged all three years, and in that time, I’ve done my best to not only be successful personally, but to do what I can to help Georgians.”
Many of the politicians begin to build their wealth behind their rank in high office. However, that was not the case for Abrams, whose loss launched her to a stardom level. It is unusual for someone whose highest office was a minority leader of the Georgia House of Representatives to reach status; however, the extraordinary woman’s hard work didn’t go unnoticed.
A spokesperson representing the Abrams campaign, Seth Bringman, stated she presented 37 compensated speeches in 2021 and a 12-stop fall tour of stand-alone appearances.
She’s composed, co-written, and reissued six books since 2019 and will also reissue another later this year.
Last Year, Abrams produced a business book with her longtime business partner and invested in several companies. In November, she joined Heliogen, a California company that strives to utilize sunlight to concentrate heat for industrial operations, electricity generation, and hydrogen fuel production. Abrams documented $65,000 in Heliogen stock.
Kemp holds a net worth of about $8 million, along with assets in real estate that he formulated before running for governor. Perdue is reported to have acquired a net worth of $50 million after his career as a CEO of establishments like Dollar General and Reebok. Kemp held earnings of $551,000 in 2021, while Perdue kept revenue of about $9 million.
Kemp criticized Abrams during her run in 2018 for owing fifty-four thousand dollars to the IRS due to self-employment taxes she didn’t pay on time.
Abrams responded, explaining that she skipped the payments because her parents needed financial assistance with raising a granddaughter and medical bills.
“You can delay IRS payments. You can’t delay cancer treatments,” Abrams stated.
Abrams had $96,000 in student loan debt and $83,000 in credit card debt.
She paid her IRS debt, student loans, and credit card debt in 2019. When she first attempted to run for governor, Abrams held a paltry retirement account of less than $5,000. This Year she has more than $725,000 in stocks and bonds.
Abrams moved from her old townhouse to a new house as her financial situation improved.
According to Abrams’ financial disclosure, the $975,000 property she purchased just outside the Atlanta around Emory University in 2020 is financed by a $760,000 mortgage.
She also purchased her parents a $370,000, 3,300-square-foot house in the suburbs of Atlanta in 2019.