Steve Bannon, a right-wing political strategist and media mogul, has built a fortune through various ventures in finance, media, politics, and investments. While estimates of his net worth vary between $20 million and $50 million, Bannon’s financial history includes involvement in Breitbart News, investment banking, Hollywood production, and controversial political campaigns. Despite facing legal battles, including a four-month jail sentence for contempt of Congress, his wealth remains substantial.
Early Career: Military and Investment Banking
Born November 27, 1953, in Norfolk, Virginia, Bannon started his career in the United States Navy, where he served as a lieutenant for seven years. Following his military service, he transitioned into the finance sector, joining Goldman Sachs in the 1980s. While working as an investment banker, he specialized in media and entertainment deals, which laid the foundation for his future ventures.
One of his most profitable deals came from negotiating a stake in the royalties of the hit sitcom Seinfeld in 1993. Various reports suggest that this deal earned him $32 million, a significant boost to his wealth at the time.
The Hollywood Connection
After leaving Goldman Sachs, Bannon founded Bannon & Co., a boutique investment firm focused on media. During this time, he produced and financed films, including political documentaries that aligned with his growing right-wing ideology. His Hollywood involvement helped expand his financial portfolio and network within the conservative media industry.
Breitbart News and Political Influence
Bannon’s most prominent business venture came when he became executive chairman of Breitbart News in 2012. Under his leadership, Breitbart transformed into a major platform for the alt-right movement, seeing a rise in traffic to 17.3 million monthly users by 2017. His stake in Breitbart and its affiliated companies contributed significantly to his net worth.
His work at Breitbart also served as a springboard into politics, leading him to a key advisory role in Donald Trump’s 2016 presidential campaign. Following Trump’s victory, Bannon was appointed as Chief Strategist and Senior Counselor to the President, a position he held until August 2017.
Cambridge Analytica and Data Mining Controversies
Bannon was also involved with Cambridge Analytica, a data analytics firm linked to Brexit and the Trump campaign. His stake in the company was reportedly sold for up to $5 million before he joined the White House. Cambridge Analytica faced intense scrutiny for its involvement in harvesting Facebook user data, which ultimately led to its collapse.
Other Business Ventures and Unusual Money-Making Schemes
Beyond media and politics, Bannon has explored alternative financial ventures, some of which have been highly controversial:
- World of Warcraft Gold Farming: Bannon convinced investors to fund a project that used low-paid Chinese workers to farm virtual items in the popular video game World of Warcraft, which were then sold to Western players for real money.
- Global Right-Wing Funding Networks: Bannon has led anti-globalization initiatives, including efforts to fund far-right movements in Europe.
- Podcasting and Media Appearances: Despite facing legal issues, Bannon continues to generate revenue through media, including his popular podcast, War Room.
Legal Battles and Criminal Charges
Bannon’s financial and political career has been marred by legal troubles. He was sentenced to four months in jail for contempt of Congress after refusing to testify before the January 6 House select committee. While the sentence is a minor inconvenience financially, his legal battles have not ended there.
“We Build the Wall” Fraud Scandal
Bannon was federally indicted for allegedly defrauding donors in the “We Build the Wall” campaign, which raised money from the public to construct a private section of the U.S.-Mexico border wall. Though Trump pardoned him in 2021, he still faces state-level charges in New York, with a court date set for November 2023.
Real Estate and Assets
Bannon has invested in multiple real estate properties, though his holdings remain less publicized than those of other political figures. His reported assets include:
- A luxury property in Washington, D.C., where he lived while serving in the White House.
- A multi-million dollar home in Southern California, which he reportedly used as a media and political headquarters.
- Investment properties in Virginia and New York, linked to his various financial dealings.
The Future of Bannon’s Wealth
Despite his legal battles and political setbacks, Bannon’s wealth remains substantial due to his diversified portfolio and continued involvement in right-wing media and fundraising. His future financial prospects include:
- Media Expansion: He continues to grow his War Room podcast and other digital platforms.
- Political Consulting: Bannon remains an influential figure in right-wing populist movements, both in the U.S. and Europe.
- Fundraising and Investments: He has strong connections with wealthy conservative donors, ensuring continued financial backing.
