Governor Philip D. Murphy, a Democrat, began his political career in the late 1980s as a senior official in the U.S. Department of Commerce under President Bill Clinton. He later served as the U.S. Ambassador to Germany from 1993 to 1997, a role that significantly contributed to his growing reputation in American politics. Murphy’s fame, however, truly skyrocketed when he was appointed as the Governor of New Jersey in 2018, a position he still holds today.

Governor Murphy’s Current Net Worth

As of 2025, Governor Phil Murphy’s current net worth is estimated to be around $200 million, according to the latest available information. This figure is primarily attributed to his successful business career and investments.

Career

Before entering politics, Governor Murphy had a distinguished career in the finance industry. He served as the CEO of a prominent investment firm, Goldman Sachs, and later became the U.S. Ambassador to Germany under President Obama. In 2017, he was elected as the Governor of New Jersey.

Other Ventures

In addition to his political career, Governor Murphy has also been involved in various philanthropic endeavors. He co-founded the New Start Career Center, a non-profit organization aimed at helping unemployed individuals find jobs. He also serves on the boards of several educational institutions.

Assets

Governor Murphy’s assets include several properties in New Jersey and New York, valued at over $50 million. He also has a significant stake in various investment funds and businesses, including a minority ownership in the New Jersey Devils hockey team.

Annual Income

As Governor of New Jersey, Murphy’s annual salary is $175,000. However, his total annual income is higher due to his investments and other business ventures. According to financial disclosures, his total income in 2020 was over $2 million.

Frequently Asked Questions about  Governor Murphy

Frequently Asked Questions: Governor Murphy Net Worth

1. Who is Governor Murphy?

Phil Murphy is an American politician and businessman who has served as the 56th Governor of New Jersey since 2018. He previously served as the U.S. Ambassador to Germany from 2009 to 2013.

2. What was Governor Murphy’s background before politics?

Before entering politics, Murphy had a successful career in finance. He worked at Goldman Sachs for 23 years, ultimately serving as a senior director.

3. How old is Governor Murphy?

Governor Murphy was born on August 17, 1957, making him 64 years old.

4. What is Governor Murphy’s net worth?

As of the latest estimates, Governor Murphy’s net worth is approximately $50 million.

5. How did Governor Murphy make his money?

Governor Murphy made his fortune primarily through his career in finance at Goldman Sachs. He also has investments in various companies and real estate.

6. What is Governor Murphy’s political affiliation?

Governor Murphy is a member of the Democratic Party.

7. What are some of Governor Murphy’s key initiatives as governor?

Some of Governor Murphy’s key initiatives include expanding access to healthcare, increasing the minimum wage, and promoting renewable energy and environmental justice.

8. What is Governor Murphy’s stance on marijuana legalization?

Governor Murphy is a strong advocate for marijuana legalization. He signed a bill into law in February 2021 legalizing recreational marijuana use in New Jersey.

9. How many terms can Governor Murphy serve as governor?

In New Jersey, governors are limited to two four-year terms.

10. What is Governor Murphy’s family like?

Governor Murphy is married to Tammy Snyder Murphy, and they have four children together. His family has been involved in his political career and often appears with him at public events.