According to their latest tax returns, Newsom and his wife made $1.7 million in 2019 during his first year as governor, about half a million dollars more than they earned before his first year as the year before.
The Newsoms paid roughly $712,000 in federal and state taxes. Their income gain came primarily from Newsom’s winery and restaurant businesses, which he put in a blind trust when he became governor. The returns also show the Newsoms gave about 6% of their income to charity in 2019.
Newsom pledged to release his tax returns each year when he was elected in 2018. Competitors may need to release their returns as well under a law Newsom signed in 2019 requiring candidates for governor to publicly disclose their last five years of returns - though it’s still unclear how the law applies to a recall.