Former presidential aspirant Andrew Yang, a lawyer turned digital entrepreneur, declared his candidacy for mayor of New York City in 2021 on January 14. Yang has a good shot of winning. A native of Taiwan, Yang will be the first Asian-American mayor of Los Angeles. Andrew Yang net worth at the moment exceeds $1 million dollars. How did Yang amass such a large fortune?
Yang will run as a Democrat in the June 22, 2021, election, which is set to take place on that day. He aspires to aid New York City in its recovery from the coronavirus outbreak. This would be the biggest monetary assistance program in American history, according to him. Maya Wiley, who worked for present Mayor Bill de Blasio, Eric Adams who is the President of Brooklyn Borough, and the Comptroller of New York City Scott Stringer are among the other nominees.
How Yang started his career
Yang, a native of Schenectady, New York, earned his bachelor’s degree in economics from Brown University and his law degree from Columbia University.
Davis, Polk & Wardell was the name of the law company where he worked his first job after graduating from college. Before he left to create his own firm, Stargiving.com, he only worked there for a short period of time. As a web-based corporation, this one tried out a new way of obtaining money. People might donate a little amount to celebrities’ favorite organizations in return for a chance to win celebrity-themed goods. Winners may receive an opportunity to meet the bands they supported via their charitable donations.
In the end, Stargiving failed. At this point in his career, Yang worked for what many sources, including Andrew Yang’s own biography, refer to simply as “a healthcare startup.” The combination of his work as a test prep instructor and his position as CEO of Manhattan Prep lead him to this position.
Formation of multiple companies
As a young entrepreneur, Yang founded Stargiving.com in 2000. It was a web-based firm that specialized in celebrity-backed charitable fundraising. In 2002, the dot-com boom crashed, and the company was shut down. Yang worked as a vice president at MMF Systems from 2002 to 2005, a healthcare software business. Yang began working for Manhattan Prep, a small test prep organization, in 2006. He was the CEO and president of Manhattan Prep until quitting in the year. Yang created Venture for America, a non-profit organization, in 2011. In locations like Detroit, Baltimore, and Cleveland, the group trains young professionals and new graduates to work with startup enterprises. Yang founded Humanity Forward, a 501(c)(3) non-profit, in 2020.
He is not new on the political scene
In 2020, Yang was a Democratic Party candidate for president of the United States. He submitted his paperwork to run for government in November of last year. Then, on February 11, 2020, Yang canceled his presidential candidacy. He withdrew from the campaign when preliminary results showed he had received less than three percent of the vote.
Yang had no prior political experience when he launched his campaign. No one in American politics had ever heard of him before he died, and he had never sought public office. He was able to garner support by promising a monthly payment of $1,000 to every adult citizen of the United States as part of a universal basic income program.
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Andrew Yang’s Net Worth
Andrew Yang net worth has been estimated by Forbes to be about $1 million. It is estimated by the Wall Street Journal that he is worth anywhere between USD 834,000 and USD 2.4 million.
This places him in an unusual situation. Relative wealth seems to be a characteristic of presidential contenders. Even though Donald Trump is exceptionally wealthy for a U.S. president, most candidates have amassed millions of dollars during a long and fruitful career before running for politics. In 2008, CNN estimated that Barack Obama had a net worth of at least $5 million.
Many politicians make a large portion of their money via speaking and writing. By the time a politician decides to run for president, they are typically well-known in the country. As a result, they are able to create best-sellers and get high-paying speaking engagements.
Yang is a poor man in this league. Warren (having an estimated wealth of $12 million), Joe Biden (having an estimated wealth of $9 million), and even Bernie Sanders (having an estimated wealth of $2.5 million) are all current contenders for the Democratic nomination. However, as an entrepreneur, his net worth is far more than that of the Democratic primary’s least affluent candidate, Mayor Pete Buttigieg (estimated wealth: $100,000).
Andrew Yang is married
In 2011, Evelyn Yang married Andrew Yang. They have two boys.
Life Lessons from Andrew Yang to Remember
- Keep yourself focused on the goal
Many people in Yang’s community saw him as an outcast because of his ethnicity. Nevertheless, he stayed focused and, at the age of twelve, he achieved a SAT score of 1220 out of 1600. He was able to attend the CTY summer program at John Hopkins University, one of the most elite educational institutions in the United States.
- Know what isn’t working
A corporate lawyer was Andrew Yang’s first job out of college after graduation. In spite of this, he decided to take a break from his career and pursue other interests.
- Engage in the present keeping Future in mind
Andrew Yang’s political and socio-economic aspirations are rather far-fetched in comparison to today’s realities. He thinks that the future will only arrive to those who make the necessary preparations now.