Former Congresswoman and current South Dakota governor, Kristi Noem, was announced as Donald Trump’s pick to lead the Department of Homeland Security.
Here’s a look at Noem’s finances and wealth.
Trump’s Pick: Since winning the 2024 presidential election, Trump has started announcing who he will be nominating for Cabinet positions.
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While many of the picks await official nomination and Congressional approval, Trump has been busy assembling his team.
Noem served in the U.S. House of Representatives from 2011 to 2019 and has been governor of South Dakota since 2019.
The governor was on the shortlist of candidates that were expected to be named as Trump’s vice-presidential pick for the 2024 election, even being one of the betting favorites at prediction market Polymarket for some time.
A controversy involving Noem’s newest book saying that her 14-month-old family hunting dog was shot by the politician may have led to her falling out as a top pick for the vice president role.
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Noem’s Finances: As governor of South Dakota, Noem collects an annual salary of $121,578 as reported by Ballotpedia.
While in Congress, Noem collected a salary of $174,000 annually.
If elected to Trump’s cabinet, Noem will collect an annual salary of $246,400.
A recent 2023 financial disclosure form filed in South Dakota showed that Noem has financial interest in Noem Insurance, run by her husband Byron Noem, and several small businesses.
Noem also listed cash rent from pastures as a source of income and has previously declared a family ranch in financial disclosures. The ranch was inherited when her father passed away and is co-owned with her mother and siblings.
The South Dakota governor has authored two books, which she lists as a source of income for royalties. The autobiography books are “Not My First Rodeo: Lessons from the Heartland” and “No Going Back,” which were published in 2022 and 2024, respectively.
Noem’s most recent disclosure from 2023 is easy to find and read on the South Dakota Secretary of State website. Older disclosures don’t load as images.
Estimates on Noem’s wealth have varied greatly over the years based on some of the questions about her disclosures.
An estimate from OpenSecrets in 2017 listed Noem’s wealth at $2.35 million. Money listed her wealth at $4.5 million in a 2023 article using financials from 2021.
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Energy Investment: Also listed on Noem’s financial disclosures is an investment in Granite Falls Energy, which she has declared income from previously.
Noem disclosed that she made between $25,006 and $70,000 in dividends from the investment from her first Congressional run in 2010 through early 2019, as reported by South Dakota Searchlight. South Dakota disclosures do not require Noem to list the amount of income received, only the sources of income.
The report linked the energy company as a partner to Summit Carbon Solutions, a company that had proposed a carbon pipeline in South Dakota.
South Dakota Searchlight said the financial interest in the proposed pipeline raised questions about Noem’s lack of support for anti-pipeline legislation in the state.
A spokesperson for Noem told the media outlet that the governor “invested in Granite Falls many years ago and has always appropriately disclosed her finances.” The pipeline has struggled to gain voter support in South Dakota.
If elected into Trump’s cabinet, Noem’s past interest in and investments in energy pipelines could be worth monitoring by investors.
Several pipeline ETFs like the Alerian MLP ETF (NYSE:AMLP) and Global X MLP & Energy Infrastructure ETF (NYSE:MLPX) could benefit from having Noem, a pro-pipeline investor, in the Trump White House administration.
Noem’s son-in-law Kyle Peters is a registered lobbyist for Gevo Inc (NASDAQ:GEVO), a biofuels company, that could benefit from pipelines and energy investments in South Dakota.
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This article Trump Department Of Homeland Security Pick Kristi Noem Owns Ranch, Invests In Energy, Gets Book Royalties originally appeared on Benzinga.com
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