Tony Podesta Net Worth Scrutinized in Light of New Scandal
You would be hard-pressed to omit Tony Podesta from a list of Washington’s most powerful lobbyists. A co-founder of the powerful lobbying firm Podesta Group, Inc., and the brother of former Bill Clinton chief of staff John Podesta, he is an insider’s insider.
He’s also currently embroiled in scandal, putting Tony Podesta’s net worth under the microscope. Given his high profile position, he could be worth upwards of $100 million or more, in our estimation.
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The essence of the scandal involves Podesta Group’s work for a pro-Russia Ukrainian think tank, which wasn’t transparently disclosed to the U.S. Department of Justice. The probe emanated from Robert Mueller’s special council investigation of Paul Manafort, who is Donald Trump’s former election campaign director. (Source: “Tony Podesta, now facing special counsel probe, lobbied Hillary Clinton’s State Department on Ukraine, then fundraised for her campaign,” Washington Examiner, October 24, 2017)
Given Podesta’s personal and fundraising contributions to the Hillary Clinton election campaign, his involvement in the process has flown under the radar. But, obviously, Mueller has seen enough to initiate a special council probe targeting Podesta.
Net Worth of the Lobbyist Giant Tony Podesta
How much is Tony Podesta worth? Anecdotal evidence is extensive.
In 2014 divorce settlement hearings, the lawyers of his then-wife Heather asked that a trustee oversee “The Heather and Tony Podesta Collection” of 1,300 valuable artworks, which they amassed over years. That artwork was estimated to be worth at least $5.6 million. Podesta also owned “several” houses, including some internationally. (Sources: “Podesta divorce documents released,” Politico, April 11, 2014; “Washington’s Rotten Core,” National Review, April 12, 2014.)
Podesta’s lobbying firm has generated at least $10.0 million dollars every year since 2004. As co-founder, he stood to benefit from the lion’s shares of the profits.
Given the evidence, it’s safe to say that Podesta is a very wealthy man. There’s probably a whole bunch of financial assets (stocks, bonds, etc.) that we don’t know even about, since he’s not required to disclose those details as a private citizen. But, it’s safe to assume that Podesta is worth well into eight-figure territory, and possibly pushing nine figures—even after his divorce.
Democratic Lobbyist Tony Podesta’s Lobbying Career
Prior to entering the workforce, Podesta was destined for a career in or around politics. He studied political science at the University of Illinois, then later worked on his Ph.D. in political science and urban social policy at the Massachusetts Institute of Technology (MIT). According to Podesta, he became interested politics while at college and eventually left school and “traveled around the country with Eugene McCarthy and then later worked in the [1968] general election in that campaign.” (Source: Interview with Anthony “Tony” Podesta by Don Nicoll, Bates Digital Library, September 18, 2002).
Tony Podesta Brother of John Podesta (Credit: Flickr.com)
From there, he has never looked back. After McCarthy lost the Democratic nomination to Hubert Humphrey, Podesta organized students on behalf of the Humphrey-Muskie campaign. He went on to campaign for various Democratic politicians, including Joe Duffy for Connecticut Senate (1970), Ed Muskie for presidential nominee (1972), George McGovern for president (1972), Ted Kennedy for presidential nominee (1980), Walter Mondale for president (1984), and Michael Dukakis for president (1988).
Having cultivated two decades worth of high-level contacts within Democratic Party circles, Podesta then put his Rolodex to good use. In 1988, John and Tony Podesta co-founded powerhouse lobbyist firm Podesta Associates, Inc. (now Podesta Group). From the very beginning, the firm was designed to lobby government on behalf of large corporate clients. It eventually became one of the biggest lobbying firms in Washington D.C.
And why not? For the politically connected, lobbying is one of the more lucrative endeavors in Washington. It’s certainly far more financially lucrative than public service, including the position of president. The top corporate interests spend upwards of nine figures each year in attempts at influencing policy outcomes.
Top 10 Lobbying Spenders of 2016
| Client | 2016 Spending | 2015 Spending | 2015 Rank |
| U.S. Chamber of Commerce | $103,950,000 | $84,730,000 | 1 |
| National Association of Realtors | $64,821,111 | $37,788,407 | 2 |
| Blue Cross Blue Shield | $25,006,109 | $23,702,049 | 3 |
| American Hospital Association | $20,970,809 | $20,687,935 | 7 |
| Pharmaceutical Research & Manufacturers of America | $19,730,000 | $18,920,000 | 9 |
| American Medical Association | $19,410,000 | $21,930,000 | 4 |
| Boeing | $17,020,000 | $21,921,000 | 5 |
| National Association of Broadcasters | $16,438,000 | $17,400,000 | 10 |
| AT&T | $16,370,000 | $16,370,000 | 13 |
| Business Roundtable | $15,700,000 | $19,250,000 | 8 |
(Source: “Lobbying’s top 50: Who’s spending big,” The Hill, February 7, 2017.)
How Much Does Tony Podesta Make?
Podesta Group lobbying income looks to have peaked at more than $29.3 million in 2010. No less than 110 companies have acquired services from Podesta Group, including some of the biggest corporations in America.
In 2010, The Daily Caller estimated Tony Podesta’s net worth. They took into account the Podesta Group’s $3.5 million lobbying fees in a three-month period between January and March 2010. They then divided that sum to account for the fact that there were six other lobbyists who Podesta usually worked with. If he worked a regular 9-to-5 schedule (40-hour work week), Podesta would have made roughly $1,000/hour. (Source: “What people pay Tony Podesta $1,000 an hour to do,” The Daily Caller, June 22, 2010.)
This figure was calculated during the firm’s peak earning year, so it may not be completely representative of the whole. But it is obvious the that Podesta has been raking in serious earnings for quite a long time.
Some might call it the “Harvey Specter” pay grade.
