Stacey Abrams Turns Her Personal Finances Around

Georgia Democrat, who had little money before 2018 run, is now a multi-millionaire
By Newser Editors and Wire Services
Posted Apr 5, 2022 7:41 AM CDT
Stacey Abrams Is Now a Millionaire
Georgia gubernatorial Democratic candidate Stacey Abrams qualifies for the 2022 election on March 8, 2022, in Atlanta.   (AP Photo/Brynn Anderson, File)

When Democrat Stacey Abrams first ran for Georgia governor in 2018, her lackluster personal finances and a hefty bill from the IRS gave Republicans fodder to question how she could manage a state budget when she struggled with her own debts. As she launches a second bid this year, that's no longer an issue, per the AP. Abrams now says she's worth $3.17 million, according to state disclosures filed in March. That's compared with a net worth of $109,000 when she first ran four years ago. Her rapid ascent into millionaire status corresponds with her rise in national politics.

Since her 2018 defeat to Republican Brian Kemp, Abrams has become a leading voting rights activist. She was considered as a potential running mate to President Biden and is widely credited with organizing voters in Georgia to help him become the first Democrat to carry the state in the presidential vote in 28 years. Along the way, she has earned $6 million, mostly driven by $5 million in payments for books and speeches. That wealth has exposed her to a different line of criticism from Republicans, who hope to portray Abrams this year as out of touch with average Georgians. Garrison Douglas, a spokesperson for the national Republican Party, accused Abrams of using her campaign “as a platform for her own financial gain.”

In an interview, the 48-year-old Abrams said it was ironic for Republicans to criticize her financial success, something the party often praises as the result of hard work. “It is remarkable to me that success is now being demonized by the Republicans,” she said. “I believe in success. I believe that every person should have the opportunity to thrive. And because I had three years where I was in the private sector, I leveraged all three years, and in that time, I’ve done my best to not only be successful personally, but to do what I can to help Georgians.”

(More Stacey Abrams stories.)

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