Eric Garcetti’s net worth and salary: Eric Garcetti is an American politician who has a net worth of $ 3 million. He is best known for being the mayor of Los Angeles.
Salary: As of 2017, Eric Garcetti earned $ 248,000 a year as mayor of LA.
Eric Garcetti was born in Los Angeles, California in February 1971. He grew up in the Los Angeles suburb of Encino. Her father, Gil Garcetti, was an LA district attorney between 1992 and 2000, particularly when O.J. Simpson was tried in vain for murder.
Eric is a graduate of Columbia University, Queens College, Oxford and the London School of Economics. Garcetti served in the United States Navy from 2005 to 2013, obtaining the rank of lieutenant. He was a member of the Los Angeles City Council from 13e from July 2001 to July 2013. Garcetti was President of the Los Angeles City Council from January 2006 to January 2012.
In July 2013, it became the 42North Dakota Mayor of Los Angeles. He was re-elected in 2017. Garcetti became the city’s first elected Jewish mayor as well as his youngest mayor in history and the second consecutive Mexican American mayor of Los Angeles.
Investments and real estate investments: In his 2017 financial disclosure, Eric disclosed interests between $ 10,000 and $ 100,000 in four companies, including public shares of Starbucks and Ross Stores Inc.
One of these assets is a commercial building in Beverly Hills acquired decades ago by Garcetti’s grandfather. In 1998, an oil company called Venoco Inc. signed a 20-year lease to drill oil under the property which is located not far from Beverly Hills High School, where Venoco has additional drilling. According to a 2013 financial file, Venoco was paying the Garcetti family a nominal amount of $ 1.25 per year at the time for drilling rights, because at this stage they had not yet started drilling. The terms of the lease promised the partnership a reduction in future oil profits generated by the oblique drilling of their machines already located in Beverly Hills High. Faced with growing pressure on his environmental record, Eric cut ties with the oil company in 2013.
The family also seems to own several apartment buildings which generate rental income which partially benefits Eric.