Gavin Newsom’s wine business is thriving despite his responsibilities as governor.
The details of his extensive network of wineries, hotels, and brewing enterprises have been outlined in his economic disclosures as California’s governor.
Amid a federal investigation into tax-related issues involving Newsom’s wife, colleagues, and family, his personal finances are under increased scrutiny. He has indicated that he will eventually release his tax returns.
Recently, Newsom suggested that the investigation, which he disclosed in a pre-recorded video, was driven by political motives.
According to a recent analysis, the governor earned at least $410,000 last year from his investments in wine and hospitality, although it’s possible this number is much higher.
The state disclosures, however, don’t provide specific figures; they only require general income ranges to be reported.
His high-end liquor business, encompassing areas like San Francisco, Napa Valley, and Lake Tahoe, is impressive enough that last year he was able to sell over $100,000 worth of rare wines to brokers, based on disclosures he filed in March.
Much of his wealth is tied up in blind trusts, which are valued at more than $1 million. These trusts contain stakes in various wine investment firms, such as Ariel Wines.
Newsom’s wine empire is anchored by his Napa-based winery, PlumpJack, which he established through connections with California’s affluent Getty family.
PlumpJack Estate boasts 42 acres of vineyards on a 57-acre site that includes both a tasting room and production facilities. Additionally, there’s another 54-acre winery in Angwin, which produces grapes for different wine varieties, and a third winery located in Napa.
He has indicated that he received over $100,000 from investment firms managing properties in his portfolio.
His holdings also feature Odette Estate Winery, known for crafting “elegant, balanced wines designed to create lasting memories,” as stated on its website.
Meanwhile, Cade Estate, situated on Howell Mountain in Napa, offers wines priced at over $100 per bottle, claiming to sell “fine wines in harmony with the environment.”
Newsom also made more than $10,000 from a hospital management firm involved with the PlumpJack Inn, a ski resort in Olympic Valley, near Lake Tahoe.
Moreover, other hospital management companies, which have contributed over $100,000 to Newsom, operate various establishments including Wildhawk cocktail bar and Balboa Café, an upscale restaurant he co-founded with Gordon Getty’s son. The Marina District also includes the White Rabbit Bar.
A retail wine business linked to PlumpJack similarly donated over $100,000 last year.
Newsom’s report showed earnings exceeding $100,000 from wine sales to Benchmark Wine Group, which is recognized as a leading supply source for fine and rare wines.
Wine prices in his portfolio range from $47 for a 2018 Plumpjack Merlot to nearly $1,200 for a magnum of the 2016 Plumpjack Cabernet Sauvignon Oakville Reserve.
This income illustrates the governor’s diverse entrepreneurial efforts, with his reported total income reaching almost $1.5 million in 2020.
After taking office, he implemented a ban preventing state agencies from engaging with his wine company; however, he has spent $50,000 of political donations on PlumpJack Wines.
Newsom has often highlighted his business ventures, with the Getty family playing a significant role in their expansion.
His father, William Newsom, an attorney and appeals court judge, had a strong bond with Gordon Getty, having once arranged a $2.2 million ransom for the release of Getty’s nephew, John Paul Getty III, who had been kidnapped by the Italian Mafia in 1973.
