Tax Records: Pritzker, Wife Report $5.1M Income For 2020

CHICAGO (AP) — Illinois Gov. J.B. Pritzker and his wife M.K. Pritzker reported adjusted gross income of about $5.1 million in 2020, according to portions of his tax returns released by the billionaire Democrat's campaign.

About $2.2 million of that income was taxable, and the Pritzkers paid $529,104 in federal taxes on their personal income and $230,643 to the state. They made $2.8 million in charitable donations, the campaign said in an email.

The documents — the first few pages of his federal and state tax returns — represent only a portion of Pritzker's wealth. The heir to the Hyatt hotel fortune and a former partner in a private equity firm is estimated by Forbes to have a net worth of $3.6 billion.

The couple's 2020 income was more than double what they reported in 2019 and the highest it’s been since before Pritzker was elected governor, the Chicago Tribune reported. The Pritzkers reported a taxable income of $55 million in 2017, when he left the private equity firm he ran with his brother. Pritzker was elected governor the following year.

Pritzker's campaign has declined to release tax documents related to trusts where much of the governor's wealth is held.

Pritzker, who is seeking reelection in 2022, put $35 million into his campaign fund earlier this year.