Phil Murphy Net Worth, Family, wife, Education, Children, Age, Biography, Political Career

Phil Murphy Biography

Philip Dunton Murphy is an American financier, diplomat and politician who has served as the 56th governor of New Jersey since January 2018. He succeeded Republican Chris Christie in the governorship. A member of the Democratic Party, he served as the United States Ambassador to Germany from 2009 to 2013 under President Barack Obama.

Murphy had a 23-year career at Goldman Sachs, where he held several high-level positions and accumulated considerable wealth before retiring in 2006. He is involved in many civic organizations and philanthropic pursuits. He served as finance chairman for the Democratic National Committee in the mid-late 2000s under Howard Dean. In the Obama administration, Murphy served as the United States Ambassador to Germany from 2009 to 2013, during which time he dealt with the international fallout from the United States diplomatic cables leak.

While planning to run for governor, Murphy and his wife Tammy Murphy launched New Start New Jersey, a progressive organization active from November 2014 to December 2017 intended to increase his political visibility in the state. He defeated then-Lieutenant Governor Kim Guadagno in the 2017 gubernatorial election. In December 2019, Murphy became the chairperson of the Democratic Governors Association, a position he held for a year.

Phil Murphy Net Worth

Phil Murphy Net Worth is $ 80 Million in 2022.

Phil Murphy Family, Parents

Murphy was born in Needham, Massachusetts, the son of Dorothy Louise and Walter F. Murphy. The family was Irish American, with Phil being third generation. According to Murphy, his household was "middle class on a good day" by his recollection, his mother, a secretary and father, a high-school dropout who took any job he could (including liquor store manager), lived paycheck to paycheck. Both of his parents were enthusiastic supporters of John F. Kennedy and volunteered for his campaign in the 1952 United States Senate election in Massachusetts.

Phil Murphy Wife, Children

Murphy first met his future wife, Tammy Snyder, in 1987 when they both worked at Goldman Sachs, but Murphy did not ask her out for another seven years. When he finally did, things progressed quickly they became engaged 18 days later and were married within six months in 1994.

Murphy and his wife have four children, three sons and a daughter. They live in Monmouth County in New Jersey. The children have been educated at Rumson Country Day School and Phillips Academy. Tammy Snyder Murphy has held a variety of financial, civic, and political positions as well as having been a homemaker.

Phil Murphy Career and Achievement

Murphys position at Goldman Sachs when the firm had its IPO brought his net worth above $50 million. By one estimate, reported in Der Spiegel in 2009, his wealth after leaving the firm was in the range of several hundred million dollars.

Murphy moved to Middletown Township, New Jersey, in the late 1990s. He and his family live in a riverside estate with a $200,000 annual property tax bill. Murphy also owns homes in Berlin and Italy.

In 2016 Murphy released five years worth of federal tax returns. In 2014 he earned about $6 million, paid about $2 million in taxes for an effective tax rate of 34%, and directly or indirectly donated 24% of his income to charity. The returns for the other years showed effective tax rates ranging between 32% and 39%. Murphys charitable donations during these five years averaged about $980,000 a year. Due to his wealth and the complicated nature of his holdings, his federal tax filings have been known to exceed 300 pages in length.

U.S. Ambassador to Germany

Murphy served as United States Ambassador to Germany under President Barack Obama from 2009 to 2013. The possibility of his being named to the post was first reported by Spiegel Online International in May 2009. The former U.S. Ambassador John Kornblum supported the choice, saying, "Murphy has been involved in German-American relations for many years.

Governor of New Jersey

2017 Election

In May 2016 Murphy announced his candidacy for the Democratic nomination in the 2017 New Jersey gubernatorial election. He became the races first announced candidate. He said of his rationale, "I am running for governor because New Jersey desperately needs adult leadership that puts our people first."

Announcing so early was unusual. Comparisons with unpopular former governor Jon Corzine, another wealthy former Goldman Sachs executive, were a challenge Murphy had to meet. Murphy also began the campaign with little name recognition. He initially planned to lend $10 million to the campaign but to also aggressively fund-raise. He said he would accept no so-called dark money and that "Im holding our campaign to a higher standard."

2021 Election

On October 1, 2020, Murphy announced he would seek reelection, with Oliver as his running mate. He ran unopposed in the 2021 Democratic primary after two challengers were disqualified. He will face Republican Jack Ciattarelli in the general election.

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