What is Steve Bannon's Net Worth?
Steve Bannon is an American media executive and political consultant who has a net worth of $20 million. He is best known for serving as the chief strategist to Donald Trump during the first seven months of Trump's Presidential term. Previously, he was executive chairman of the far-right website Breitbart and served on the board of the now-defunct data analytics firm Cambridge Analytica.
In 2020, Bannon was arrested and charged with conspiracy to commit mail fraud and money laundering, and the next year, he was held in contempt of Congress for defying a subpoena investigating the January 6, 2021 attack on the US Capitol.
Bannon has financed and produced several films including "The Undefeated," "Fire from the Heartland: The Awakening of the Conservative Woman," and "Occupy Unmasked." He also served as acting director of Biosphere 2 and executive produced Anthony Hopkins' 1999 movie "Titus."
Finances and Seinfeld Syndication
An April 2017 financial disclosure revealed that Steve Bannon earned several hundred thousand dollars in 2016 as a consultant for various conservative media organizations. His consulting firm, Bannon Strategic Advisors Inc, was valued between $5 million and $25 million. He had bank accounts with up to $2.25 million and real estate rental property worth up to $10.5 million.
In 1993, Bannon negotiated a deal to acquire an estimated 1% of the syndication profits of the TV show "Seinfeld." This stake generated around $33 million in dividends over the next two decades.
Arrest
On August 20, 2020, Steve Bannon was arrested on a 150-foot yacht off the coast of Connecticut by US Postal Inspectors. His arrest was linked to the charity "We Build the Wall." Bannon and several alleged co-conspirators were accused of siphoning money from the charity for personal expenses. The yacht belonged to Chinese billionaire Guo Wengui, one of China's most-wanted fugitives. Coincidentally, several banks froze accounts connected to fundraising efforts by GTV Media Group, a company linked to Bannon and Wengui.
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Early Life and Career Beginnings
Stephen Bannon was born on November 27, 1953, in Norfolk, Virginia to homemaker Doris and telephone lineman Martin. He is of Irish and partial German descent. Bannon attended Benedictine College Preparatory, a Catholic military school in Richmond, and then went to Virginia Tech, where he worked at a local junk yard during summers. After graduating with a degree in urban planning, he served as an officer in the US Navy for seven years and earned a master's degree in national security studies from Georgetown University and an MBA from Harvard Business School.
Following his Navy service, Bannon worked as an investment banker at Goldman Sachs in the Mergers and Acquisitions Department. In 1987, he moved to Los Angeles to help the company expand into the entertainment industry. Three years later, Bannon and colleagues founded a boutique investment bank called Bannon & Co. He also became director of the Biosphere 2 earth science research project in Oracle, Arizona.
Media Career
By the early 90s, Bannon had immersed himself in the media world, serving as an executive producer for Hollywood films like "The Indian Runner" and "Titus." He partnered with Jeff Kwatinetz at The Firm, Inc., and later produced a Ronald Reagan documentary titled "In the Face of Evil," leading to his collaboration with conservative journalist Andrew Breitbart. Bannon financed and produced far-right projects such as "The Undefeated" and "Occupy Unmasked." From 2007 to 2011, he was the CEO and chair of Affinity Media and also served as vice president of the board of Cambridge Analytica.
Bannon co-founded Breitbart News, a far-right website, where he was executive chair of the parent company until 2012. He briefly returned in 2017 after his stint at the White House before being ousted in 2018. Later, he formed Citizens of the American Republic, a dark money organization.
Political Career
In August 2016, Bannon was appointed chief executive of Donald Trump's presidential campaign. After Trump's election, he became the chief strategist and senior counselor, instrumental in creating the travel ban on several Muslim-majority countries. Bannon was removed from his role in April 2017 and officially left the White House in August.
Post-White House, Bannon spoke at far-right political events across Europe, aiming to build a global network of fascist parties. In August 2020, federal prosecutors charged him with defrauding donors in a crowdfunding campaign for building a US-Mexico border wall. Bannon pleaded not guilty and was later pardoned by Trump.
Social Media Ban
In November 2020, Bannon was permanently banned from Twitter after posting death threats against infectious disease expert Anthony Fauci, following the ban of his former boss, Donald Trump.
Contempt of Congress
In September 2021, Bannon received a subpoena from the US House Select Committee on the January 6 Attack, ordering him to appear on October 14. When he did not comply, the House of Representatives voted to hold him in criminal contempt of Congress, and he was referred to the Justice Department for potential prosecution.
Political Views and Personal Life
Bannon opposes immigration, denies climate change, and supports populist authoritarian movements in the US and Europe.
Bannon has been married and divorced multiple times. His first marriage was to Cathleen Suzanne Houff, with whom he had a daughter, Maureen. After their divorce, he married former investment banker Mary Louise Piccard in 1995. They had twin daughters before splitting in 1997. During their marriage, Bannon was charged with misdemeanor domestic violence, battery, and dissuading a witness. In 2006, he married Diane Clohesy; they divorced in 2009.
