California Gov. Newsom releases four years of tax returns

California Governor Gavin Newsom released four years of his personal tax returns for review by journalists on Thursday, July 30, 2026, ending a years-long pause in his public financial disclosures. The returns, covering tax years 2021 through 2024, show the governor and his wife, Jennifer Siebel Newsom, earned millions annually from business investments while paying hundreds of thousands in taxes, but also reveal sustained losses from her film production company.

The couple’s taxable income ranged from approximately $1.4 million to $1.6 million in 2022, 2023, and 2024. Their income spiked to $4.2 million in 2021, which the returns attribute to the $5.9 million sale of a home in Marin County. The bulk of their earnings stem from passive income from a portfolio of wineries, restaurants, hotels, and real estate holdings operating under the PlumpJack brand, which Newsom placed into a blind trust upon taking office. His state salary, which rose from about $167,000 to $192,000 during the period, constituted a small fraction of the family’s total income.

Jennifer Siebel Newsom’s for-profit production company, Girls Club Entertainment, reported losses each year from 2021 through 2024,...