While California Gov. Gavin Newsom often draws attention for his political battles and national ambitions, newly reviewed financial disclosures show that his extensive wine and hospitality investments continue to generate substantial income during his time in office.
According to California economic disclosure forms filed earlier this year, Newsom earned at least $410,000 in 2025 from a network of wine, hospitality, and related business interests. Because state disclosure rules require reporting within broad income ranges rather than exact amounts, the true figure could be significantly higher.
The disclosures are receiving renewed attention as federal investigations involving Newsom’s wife, associates, and family tax matters have increased scrutiny of the governor’s personal finances. Newsom has dismissed those investigations as politically motivated and has said he intends to eventually release his tax returns publicly.
At the center of Newsom’s business portfolio is PlumpJack, the wine and hospitality company he helped build before entering statewide office. The operation has grown into a sizable enterprise with holdings that stretch across Napa Valley, San Francisco, and the Lake Tahoe region.
Many of Newsom’s assets are reportedly held through a blind trust valued at more than $1 million. That trust includes ownership interests in several wine-related investment companies, including Arielle Wines.
The PlumpJack portfolio includes multiple vineyard and winery properties in Napa County. Among them is PlumpJack Estate, which operates on a 57-acre property that includes a 42-acre vineyard, production facilities, and a tasting room. Additional winery operations are located in Angwin and Napa.
Financial disclosures indicate that Newsom received more than $100,000 in income from investment companies and business entities connected to those properties.
The governor also maintains interests in premium wine brands, including Odette Estate Winery and CADE Estate Winery. CADE, located on Napa’s Howell Mountain, markets high-end wines that often sell for $100 or more per bottle.
Beyond wine production, Newsom’s business interests extend into hospitality and retail operations.
Disclosure records show he earned more than $10,000 from a company connected to the PlumpJack Inn near Lake Tahoe. Other hospitality-related entities reportedly generated more than $100,000 in income and include establishments such as WildHawk, a San Francisco cocktail bar Newsom launched with his sister, as well as the upscale Balboa Cafe and White Rabbit bar.
A retail wine operation associated with PlumpJack also generated more than $100,000 in reported income during the year.
One particularly notable source of revenue involved sales to Benchmark Wine Group, a major retailer specializing in rare and collectible wines. Newsom reported receiving more than $100,000 through transactions involving the company, which markets a variety of PlumpJack wines to collectors and restaurants.
Benchmark’s inventory includes bottles ranging from relatively modestly priced offerings to premium collector wines. Some rare PlumpJack releases sell for hundreds of dollars per bottle, while larger-format reserve wines can command prices approaching $1,200.
The latest disclosures underscore the scale of the business empire Newsom built before becoming governor. In previous years, he reported gross income approaching $1.5 million.
To address potential conflicts of interest, Newsom signed an order after taking office prohibiting state agencies from conducting business with his wine companies. However, questions about his business interests have continued to surface periodically, particularly after reports that political committees connected to him spent donor funds at PlumpJack properties.
Newsom has frequently spoken about his entrepreneurial background, though the growth of his business ventures has long been linked to his close relationship with the influential Getty family. His father, attorney and former appeals court judge William Newsom, maintained deep ties with the family for decades, connections that helped shape Gavin Newsom’s early business career.
