Gary Peters Net Worth and income sources

Gary Peters Net Worth Worth Overview

Gary Peters’ net worth is estimated to be $10 million  according to online sources.

Gary Peters is a Democratic US Senator from Michigan. His career as a lawyer and financial advisor contributed to his wealth. Additionally, income as a Senator also increased Gary Peters’ net worth.

Senator Investment and Assets

Sen. Peters’ assets include mutual funds, corporate securities, and fixed income accounts.

The details of Gary Peters’ assets are given below.


AssetsAsset Value
Bank and Investments (Checking accounts, Real estate, ETFs. Money market funds, etc.)$2,348,209-$8,095,000

Based on our calculations from Gary Peters’ disclosed financial sources for FY 2020, Gary Peters net worth is estimated to be between $2,348,209 and $8,095,000.

Gary Peter’s official portrait photo in 2018.  Credit: Wikipedia Commons

Senator Gary Peters Income

Gary Peters earns $174,000 as a junior US senator for Michigan. [1] His other income sources include fixed income equities, mutual funds, and insurance plans.

Income Source 1: Salary as a Senator

Gary Peters earns about $174,000 as a US Senator. He has been serving the post since 1998.

Sen. Peters during a confirmation hearing for federal district court judges in Michigan in 2021. Credit: Instagram@sengarypeters

Income Source 2: Pension and Investments

Gary Peters has been earning income from pension accounts and corporate securities. The table below is a summary of his income from these sources.

Sen. Gary Peters’ Annual Motorcycle Tour. Credit: Instagram@sengarypeters
Corporate SecuritiesEarnings
Fixed income equities, mutual funds, insurance$204,396-$594,000
Michigan Legislative Retirement System Lansing, MI$54,304


Income SourcesIncome
Bank and Investments$204,396-$594,000

The public disclosure statement filed with the SEC shows that the Michigan Senator’s net worth is increasing between  $432,700 and $822,304 per year.

Gary Peters’ Bio/Early Life

Gary Peters was born Gary Charles Peters on 1st December 1958. He was the son of the American statistician and historian Herbert Garrett  Peters. His mother Madeleine A. Vignier was a French bride.

Peters attended Rochester High School in 1976. He graduated from Alma College with a BA degree in political science.

In 1984, Peters obtained an MBA degree from the University of Detroit. He got a Juris Doctor degree from Wayne State University. In 2007, he received his MA degree in philosophy from Michigan State University.

He married Colleen Ochoa in 1994. They have three children and live in Bloomfield Township, Michigan. He is also a passionate motorcyclist and holds annual tours in the state.

Gary Peters with his daughters Maddy and Alana. Credit: Wikipedia Commons.

Gary Peters Career

Peters worked as a financial advisor after receiving his MBA degree. He worked in the field for 22 years. From 1980 till 1989, he served as assistant vice president at Merrill Lynch. He joined American investment bank and stock brokerage firm, Paine Webber, as vice president in 1989.

Peters joined the US Navy in 1993 and served till 2008. He was involved in overseas campaigns after the 9/11 attacks.  His rank when he left the US Navy was Lieutenant Commander. He received the Marine Corps Achievement Medal for his exemplary military service. Additionally, he received the Military Outstanding Volunteer Service Medal.

After retiring from the military, Peters worked as the Griffin Endowed Chair at Central Michigan University. He also taught courses at Oakland University and Wayne State University.

In 2003, Peters was appointed as a senior policy and financial analyst at the Michigan Department of Treasury.  His other roles include arbitration panel members at the Financial Industry Regulation Authority and NY Stock Exchange.

Peters’ political career started in 1998. He won the 14th State Senate District of Michigan defeating Republican Mike Christie Jr. In the 2002 Michigan Attorney General Election, he lost to Republican Mike Cox with a slight margin of just 0.2 percent.

Peters won the 9th Congressional District in 2008 edging out Republican Joe Knollenberg. He got reelected in the 2010 and 2014 elections defeating Republicans Rocky Raczkowski and Terri Lynn Land, respectively.

In the 2020 US Senate election, Peters defeated Republican John James by a slight majority.

Gary Peters Accomplishments

Gary Peters is the recipient of the Distinguished Eagle Scout Award.

In 2013, the National caucus members nominated Sen. Peters as a Senior Whip for the Democratic Party. Whips serve as assistant leaders responsible for party unity during voting.

Sen. Peters is a ranking member of the Homeland Security and Governmental Affairs Committee. He helped in the passing of a major investment bill in Michigan in 2021. [3]. He spearheaded the enactment of the bipartisan Infrastructure and Jobs Act. The infrastructure bill promotes investment in electric vehicles, roads, bridges, and internet connections.

The Storm Act authored by Sen. Peters is part of the bipartisan Infrastructure and Jobs Act. It allowed the Senator to secure $500 million over the next 5 years for supporting communities facing rising sea levels in Michigan.  

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Gary Peters Biography 

Legal Name/Birth NameGary Charles Peters
Gary Peters Net Worth$10,000,000
Sources of WealthUS Senior Senator from the State of Michigan
Date of Birth1st December 1958
Place of BirthPontiac, Michigan
Marital StatusMarried
Partner/SpouseColleen Ochoa
Names of ChildrenGary, Jr., Maddy, and Alana.

Frequently Asked Questions About Gary Peters

Where did Gary Peters go to college?

Sen. Gary Peters has enrolled in various colleges. He attended Alma College in 1980. In 1984, he enrolled in the University of Detroit Mercy. He attended Wayne State University Law School in 1989. In 2007, he enrolled in Michigan State University for a degree program.

Who is Gary Peters married to?

Gary Peters is married to Colleen Ochoa. The couple tied the knot in 1994.

Who ran against Gary Peters?

Republican John James was the chief rival of Sen. Gary Peters in the 2020 US election in Michigan. He won the election with a narrow majority of 49.90 percent.

What does Gary Peter stand for?

Gary Peters advocates for holding the government accountable. He is focused on reducing wasteful spending of taxpayers’ money.
Other things that he stands for include strengthening American education and manufacturing, protecting Great Lakes, improving health care, reducing drug prices, protecting postal service, strengthening the agriculture sector, and fighting for administrative justice.


[1]. – Sen. Gary Peters (D-Michigan) salary information.

[2]. – Sen. Gary Peters (D-Michigan) financial disclosure information.

[3]. – Information about Sen. Gary Peters’ bipartisan infrastructure bill.

[4]. – About Sen. Gary Peters Storm Act.

[5]. – Top priority issues for Sen. Gary Peters.

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