Read the Vetting Report on JD Vance.
JD Vance often cites the damage done to working-class communities like the one he grew up in as a key reason for his opposition to globalization and cultural liberalism. But Vance made his fortune profiting off of the very forces that hollowed out the American working class. After law school, Vance moved into venture capital, growing his wealth off of investments in tech companies including those pushing for the replacement of American workers with artificial intelligence (AI). Vance has maintained a stake in these companies as vice president of an AI and crypto-friendly administration.
Vance gained national attention with his 2016 memoir "Hillbilly Elegy," which sold roughly 1.6 million copies and was adapted into a Netflix film, generating substantial royalty income even before his political career began [Fortune, 10/25/24]. After a brief stint at a white-shoe law firm, Vance moved into venture capital, working with the billionaire Peter Thiel's firms before launching his own fund, Narya Capital, where he drew an annual salary of around $327,000 [StartupBoosted, 5/31/25].
Forbes estimated Vance's net worth at $12 million as of mid-2025, up from $10 million a year earlier, before he became vice president. This increase was mostly driven by real estate appreciation and stock market gains [Forbes, 7/24/25].
In 2026, he disclosed that his assets in 2025 totaled between $7.2 million to $26.9 million.
Vance pushed crypto-friendly policy while holding $250-500k in Bitcoin. Vance holds between $250,000 and $500,000 in Bitcoin through a Coinbase account, and rather than staying quiet about it, he's leaned in publicly. In May 2025, he became the highest-ranking to speak at the Bitcoin Conference, where he said he held "a fair amount of bitcoin" and pushed crypto-friendly policy while criticizing the former Securities and Exchange Commission chairman who viewed cryptocurrency as risky [. Meanwhile, the Trump administration dropped SEC cases against firms like Coinbase and stood up a "Strategic Bitcoin Reserve" [IBTimes, 7/4/26; CBS News, 5/28/25].
Vance omitted two properties he owned from earlier filings; they only surfaced later. They were roughly 100 acres in eastern Kentucky (bought for $70,600 in 2017, reportedly to protect his grandmother's grave site) and a residential property in his childhood town of Middletown, Ohio — both described in reporting as "inadvertently" left off prior disclosures [Forbes, 7/24/25].
Vance maintained investments in Narya Capital as vice president. Vance founded Narya Capital in 2017 with backing from tech billionaires like Peter Thiel, Marc Andressen, and Eric Schmidt. Although he left Narya Capital in 2022 when he started his candidacy for the Senate, he maintained a stake in it. As of 2025, Vance maintained a stake of between $501,000 and $1,000,000 in Narya Capital Fund I LP, an interest worth between $15,000 and $50,000 in Narya Capital Fund II LLP, a carried interest in Narya Capital Fund I LP entitling him to 56.4% of interest up to $7 million and 55.2% of interest more than $7 million, and a holding in Narya Capital GP I LLC of undisclosed value. [JD Vance - OGE Form 278e (annual), 7/1/26; Los Angeles Times, 1/9/20; Business Insider, 11/16/24].
Through his Narya holdings Vance had a stake in companies that sought contracts with DOD and to replace American workers with AI. Narya’s portfolio companies included Atomic Industries, True Anomaly, and Valinor. Atomic Industries, which was founded to “reindustrialize” America by use AI to automate tool and die production, had ties to U.S. Secretary of Defense Pete Hegseth’s Pentagon. The company hosted (alongside Narya managing partner Falon Donahue) a conference on “Reindustrialization” where Hegseth was a prominent speaker. True Anomaly and Valinor were two other Narya investments worthy of scrutiny; in 2025 and 2026 the DOD awarded True Anomaly with part of a $1.8-billion contract alongside 13 other companies and a full contract worth up to $121 billion. Both also stand to benefit from Hegseth’s new, more private equity-friendly procurement model. [Breaking Defense, 11/4/25; Narya Capital, accessed 9/16/26; New York Times, 7/20/26; U.S. Department of Defense, 4/8/26; TechCrunch, 12/4/23; USASpending, viewed 7/14/26].
Another of Vance’s former venture capital fund's portfolio companies started winning federal contracts almost immediately after inauguration. Sludge reported that firms backed by Rise of the Rest — the Revolution fund Vance still held a stake in — began landing multi-million-dollar defense contracts within weeks of Trump taking office. The companies included Slingshot Aerospace, which received $1.7 million from the Air Force, and ATLAS Space Operations, which was paid more than $1.4 million by the National Oceanic and Atmospheric Administration [Sludge, 7/10/25].
| Year | Assets | % Change |
|---|---|---|
| 20211 | $4.3 million to $10.9 million | n/a |
| 20222 | $4.4 million to $11.2 million | +3% / +3% |
| 20233 | $4.1 million to $11.8 million | -7% / +5% |
| 20244 | $6.5 million to $22.4 million | +58% / +91% |
| 20255 | $7.2 million to $26.9 million | +11% / +20% |
1JD Vance - Senate Financial Disclosure, 8/14/22
2JD Vance - Senate Financial Disclosure, 8/14/23
3JD Vance - Senate Financial Disclosure, 8/13/24
4JD Vance - OGE Financial Disclosure, 6/12/25
5JD Vance - OGE Financial Disclosure, 6/25/26
July 2026: Vance And His Wife, Usha Vance, Announced the Birth Of Their Fourth Child. According to New York Times, "Vice President JD Vance and his wife, Usha Vance, welcomed their fourth child on Sunday. Alec Neel Vance was born on Sunday morning, the Vances announced in a post on social media on Sunday evening. 'Usha and the baby are happy and healthy, and our kids are overjoyed to meet their little brother,' they wrote in a post that they signed together." [New York Times, 7/19/26]
June 2026: Vance Said It Was Easier To Have Children When The Secret Service Was Available To Drive Them Around And Noted Their “Creature Comforts.” VIDEO [00:10:19] JD VANCE: Yeah, I mean, it's different in the sense that there are creature comforts of being the vice president, United States. You know, we have this beautiful house. We have, you know, like, I never have to drive the kids and then you know, yell out with the back seat to stop hitting their brother or hitting their sister. We just have Secret Service that drives us around now. So these sort of little ways in which life is just more convenient, I think, to bring a new baby into the world. [CBS Sunday Morning, 6/14/26]
June 2026: Vance Said It Was Easier To Travel With Children On Air Force Two. VIDEO [00:10:47] JD VANCE: Obviously, we travel around in Air Force Two now, which is a great benefit to our family. So it's not like I have to, you know, drag four kids through the TSA PreCheck line anymore. It's just it's different in that way. [CBS Sunday Morning, 6/14/26]
June 2026: Vance Said They Were “Lucky” To Be Able To Live The Life They Lead And The Baby Was Coming Into A Family That Was In A Very Good Spot. VIDEO [00:11:27] JD VANCE: And that's that's kind of how I think about this new baby, is he's going to come into a very loving family, a very stable family. You know, he's going to have some siblings who may be annoyed when he starts to steal their toys , but that's normal stuff that all kids experience. And we're just we're very lucky to be able to live the life that we lead. And I think our baby is going to come into a family that's in a very, very good spot and where he's going to be able to grow and thrive and experience the world and God's creation in all these fascinating ways. And that's all I could really hope for out of a new life. And I'm grateful that we're doing it again. [CBS Sunday Morning, 6/14/26]
July 2026: Vance's Attempt To Fly His Elementary School-Aged Son To A Golf Lesson At Joint Base Andrews Via Marine Two Frustrated Secret Service Agents. According to MS NOW, "On Thursday last week, Secret Service agents groused among themselves as they prepared to deliver another perk to Vice President JD Vance’s family: join a military helicopter crew to fly his young son to his golf lesson. The planned trip on Marine Two, the call-sign for the U.S. Marine Corps helicopter that carries the vice president, was canceled at the last minute due to severe thunderstorms and high winds in the Washington, D.C., area that day, according to two people with knowledge of the flight plans. Vance planned to travel with his son on the flight to Joint Base Andrews — which includes a secure, world-class golf center — according to two other administration officials with knowledge of his schedule. But the Secret Service staff’s complaints about a planned chopper ride for an elementary school student reflects a building morale problem inside the team of agents assigned to shield Vance and his young family, according to the two people and another person familiar with the agents’ frustration." [MS NOW, 7/15/26]
1858 Taft Road LLC
AppHarvest Inc.
Board member, 2020-21
American Compass Inc.
Contributing writer, 2020 [American Compass, 5/5/20 via Internet Archive]
Narya Capital
Co-founder, 2019-2022 [Wall Street Journal, 7/25/24]
American Enterprise Institute
Visiting scholar, 2019
JD Vance Enterprises LLC
2017-present [JD Vance Enterprises LLC - Ohio Secretary of State, viewed 9/18/26]
Our Ohio Renewal
Founder, 2017-2021 [New York Times, 10/8/22]
Revolution LLC
Managing partner, 2017-2019 [Axios, 12/15/17; Revolution, 7/18/24]
CNN
Contributor, 2017-2018 [CNN, 4/15/22 via Internet Archive]
Mithril Capital
Principal, 2016-17 [New York Times, 7/17/24]
Circuit Therapeutics
Director of operations, 2015-16 [Washington Post, 7/28/24]
Sidley Austin LLP
Associate, 2014-15 [CNN, 7/19/24]