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What is Stacey Abrams Net Worth in 2020? Get All the Details

Heisenberg Published On Fri May 15 2020   Modified On Fri May 15 2020
What is Stacey Abrams Net Worth in 2020? Get All the Details

Grab all the details you need to know about the net worth of the American politician, lawyer, and author Stacey Abrams.

Stacey Abrams is a former member of the Georgia House of Representatives, where she served from 2007 to 2017. She also used to be a minority leader from 2011 to 2017. Stacey was the Democratic Party's nominee in the 2018 Georgia gubernatorial election as a member of the party, making her the first African-American female major-party gubernatorial nominee in the United States.

Stacey Abrams is a politician, lawyer, and author by profession. But how much money has she made in her life by following three professions all by herself? Let's find out.

Stacey Abrams Currently Holds an Estimated Net Worth of $400,000 

As of May 2020, Stacey Abrams possesses an estimated net worth of $400,000. She has made this amount of money from her services in a different position in governmental and administrative offices. Her profession as a lawyer and an author has also contributed to her net worth.

Stacey Abrams currently possesses an estimated net worth of $400,000.

Stacey Abrams currently possesses an estimated net worth of $400,000.
Source: Forbes

Stacey Abrams's income comes from the money she made as a state senator, the money she makes from her consulting firm, and earnings from her published books. Stacey has published nine books so far, among which eight of them are romance-suspense novels under the pseudonym 'Selena Montgomery.'

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Since 2007, Stacey makes a mere part-time salary of $17,342 per year. In addition, she also earns an extra $173 per diem for when the legislature is in session. The publishing company Henry Holt & Co. pays her $150,000 for a book deal, which we believe the company has not paid her yet. In the bank, she has an extra $108,885.84, according to an article by Yahoo Finance.

Stacey Abrams Used to Owe $228,000 in Debt, Out of Which She Has Paid $54,000 to the Internal Revenue Service (IRS)

In 2018, during her run for the position of Georgia Governor, Stacey Abrams owed a debt to various American institutions, which totaled $228,000. She owed the Internal Revenue Service (IRS) $54,052 in income taxes, of which $40,201 was for 2015, and $13,851 was for 2016. The same year, even though she had so much debt, she donated $50,000 to her own campaign.

According to Stacey Abrams' financial disclosure report in 2018, she owed $228,000 in debt.

According to Stacey Abrams' financial disclosure report in 2018, she owed $228,000 in debt.
Source: Vox

In May 2019, Stacey finally paid back the $54,000 she owed to the IRS. She paid the money after one of her books reached The New York Times best-selling list.

While Stacey was able to pay the IRS, she still has a credit card and student loan debt of about $170,000. Her financial disclosure form in 2018 showed that she owes a total of $77,522 for nine separate credit card accounts: American Express, Capital One Bank, Citibank North America, Chase Card, Nordstrom, Sears, Sync, TD Bank, and Wells Fargo.

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Stacey's college debt amounts to $96,512, which she has to pay to the Higher Education Loan Authority of the State of Missouri. Although she earned a $95,000 salary at a law firm right out of college, received scholarships, and worked part-time jobs, she still has not managed to clear her university fees to this day.

Stacey Abrams Owns Two Homes Collectively Worth $1.4 Million in 2021

Although Stacey Abrams had a six-figure net worth a year ago, she is currently a millionaire. Indeed, she made quite an improvement financially. 

According to Fox News, after facing electoral failure back in 2018, the former state lawmaker made some wise choices. So, what did Abrams do? Well, she bought herself a beautiful residence, then she sold the one she had for a while and again purchased another one.

Although Stacey Abrams has a six-figure net worth a year ago, she currently is a millionaire.

Stacey Abrams is a millionaire as of 2021.
Photo Source: The Independent 

To put it simply, Stacey owned a house in DeKalb County. She purchased that place back in 2004 for $246,300. However, Stacey sold that house in late 2020 for $400,000. Following that, she bought a new estate paying $975,000, now valued at $1,003,934.

Prior to selling her old house, Stacey bought another house in 2019. Yes, she did that; she paid somewhere around $370,000 for that property, and as of now, its market price is said to be $409,400.

We can see through all these details how good deals Stacey had made in the real estate; no wonder her wealth grew extensively in just a few years. And using simple math, we can also see that she now holds a massive net worth of around $1.4 million in 2021. 

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