John Hoeven Net Worth and Income Sources

Senator John Hoeven Net Worth Overview

John Hoeven net worth is about $46 million  according to reputable sources [1].

John Hoeven was the 31st Governor of North Dakota. He is also the current Republican senator from North Dakota. He derives the majority of his wealth from his banking background. Hoeven served as the former CEO of First Western Bank and the Bank of North Dakota. His influence as the governor of North Dakota and senator may also have contributed massively to his wealth.

Hoeven’s wealth is distributed across real estate assets and stocks. His primary areas of interest are commercial banks and health services. 

John Hoeven Net Worth: Assets and Investments 

John Henry Hoeven III draws a salary of $174,000 as a senator from North Dakota [2]. His other sources of wealth include stocks in publicly traded companies and his background as an executive banker. The Senate Financial Disclosure Filings reveals that he owns several assets, some of which will be shown below.

Known Assets in John Hoeven Net WorthAsset Value
Westbrand Inc Bank Holding Co$5,000,001-$25,000,000
Northwest Respiratory Services$5,000,001-$25,000,000
First Western Bank & Trust$1,050,002-$5,100,000
  Stifel Money Market Account$1,000,001 -$5,000,000
Investors Real Estate Trust$250,001-$500,000

Based on various calculations and the tables above, it can be understood that the approximate net worth for John Henry Hoeven III is nearly $47 million. This value may fluctuate based on market trends and various external factors. 

John Hoeven receives an award.  Credit:

Senator John Hoeven Income

John Hoeven’s income source includes his salary as the senator. But the primary source of Hoeven’s net worth is the wealth he generates from his shares in various businesses and career as an executive at Bank of North Dakota.

Income Source 1: Salary as a Senator

John Hoeven earns about $174,000 as a U.S. senator. He has been serving as a senator since 2011.

Income Source 2: Investments

Sen. John Hoeven with Kristi Reinke.  Credit: Credit:

Like other wealthy senators, John Hoeven earns most of his income from stocks in publicly traded companies. He also derives an income from real estate assets. 

The table below provides glimpses into key assets belonging to the North Dakota senator. 

YUM! Brands$100,001-$250,000
Wells Fargo$100,001-$250,000
VF Corp$100,001-$250,000

According to his public disclosure statement, Hoeven’s wealth is increasing and is estimated at around $47 million, give or take one million based on market fluctuations.

John Hoeven’s Early Life 

Sen. John Hoeven poses with a student.  Credit: Credit:

John Hoeven was born in Bismarck, North Dakota on March 13, 1957. His father was John Henry Hoeven, Jr. and his mother was Patricia “Trish”. Hoeven’s father owned a bank in North Dakota as the chairman and president. Hoeven is of Swedish, English, and Dutch ancestry. 

He went to Dartmouth College, which is his father’s alma mater. Hoeven was a part of the Alpha Chi Alpha fraternity and completed his BA in honors in 1979. He was active in sports and played for the college’s golf team. 

Banking Career and Bank of north dakota

After graduating from Dartmouth, Hoeven went to Northwestern University to attend the Kellogg School of Management [4]. He would earn his MBA in 1981.

He worked as the executive vice president of First Western Bank & Trust – which was owned by his father. Hoeven also owned a 39% stake in Westband, Inc., the bank’s parent company. He would hold this position from 1986 to 1993. 

John Hoeven joined the Bank of North Dakota as the President and CEO. The governor at the time was Ed Schaefer. 

Until now, Hoeven had steered clear from politics but would soon run for governor of North Dakota in 2000. 

Senator and Governor Hoeven 

John Hoeven set his sights on the position of governor of North Dakota. He started his career as a Republican and defeated Heidi Heitkamp, the Democratic nominee. This was a close call for Governor Hoeven because he managed 55%.

John Hoeven managed a successful career as the governor of North Dakota and his policies proved to be popular among his followers. In 2004, John Hoeven was re-elected as the governor of North Dakota, this time defeating Joe Satrom with 71% of the vote, a big difference. 

John Hoeven ran as governor for the third time and got reelected with a large margin of victory. He had 74% of the votes and soundly defeated Tim Mathern, the Democratic nominee at the time. This was the first time in the history of North Dakota that a governor would win three four-year terms. 

During his stint as a governor, John Hoeven played a big role in diversifying the state’s economy and increased the real GDP by 49.5%. He is also widely credited for initiating North Dakota’s energy program, making it one of the most energy rich states in the country. During his tenure, North Dakota saw a net gain of 40,000 new jobs. Hoeven was the country’s most popular governor by the time he left to pursue a career in the U.S. senate. 

On January 11, 2010, Hoeven formally announced that he would run for the U.S. Senate in North Dakota because the seat was being vacated by Byron Dorgan. Hoeven banked on his popularity as the former governor and defeated Tracy Potter, the democratic nominee, to become the first Republican to represent North Dakota in the United States senate. 

Sen. John Hoeven at the Marathon refinery.  Credit: Credit:

John Hoeven’s Policies 

Hoeven was briefly a member of the Democratic Party but would change party allegiances. He always leaned toward conservative issues on certain issues but sided with the Democrats when it came to policies such as ethics reform, compensation for teachers, and infrastructure. 

He opposes the Employee Free Choice Act and, unlike most conservatives, believes that renewable energy is a long-term solution. However, he showed support for oil drilling as a short-term solution. He supports the construction of the Keystone Pipeline and argues that most environmental risks are grossly exaggerated. 

Hoeven believes that abortion should be opposed in all cases except where circumstances permit, such as rape or a threat to the mother’s life [4]. 

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John Hoeven Biography 

Legal Name/Birth NameJohn Henry Hoeven III
Net Worth$47,000,000
Sources of WealthUS Senator from the State of North Dakota 
Date of BirthMarch 13, 1957
Place of BirthBismarck, North Dakota, United States
ReligionRoman Catholic
Marital StatusMarried
Partner/SpouseMikey L. Hoeven
Names of ChildrenMarcela Hoeven and John IV Hoeven

Frequently Asked Questions About John Hoeven

Where and was John Hoeven born?

John Hoeven was born on March 13, 1957, in Bismarck, North Dakota, United States

How old is John Hoeven of North Dakota?

John Hoeven turned 64 years in 2021.

Is John Hoeven married?

John Hoeven married Mikey L. Hoeven. The couple has two children. [5]

Is John Hoeven still connected to the Bank of North Dakota and First Western Bank & Trust?

Very much so. Hoeven’s father founded First Western Bank & Trust in the 1960s. Hoeven has served in executive and board membership roles with it going back to the 1980s. Hoeven personally has a large stake in it, at one point owning 39% of the bank’s parent company, Westbrand, Inc. 


[1] – A detailed breakdown of John Hoeven’s wealth. 

[2] – United States Senate salaries 

[3] – John Hoeven’s alumni page. 

[4] – Breakdown of John Hoeven’s political career and policies

[5] – John Hoeven’s family

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