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The only non-politician on the second night of Thursday’s second Democratic debate was Andrew Young, a visible left-wing activist but polling higher than some candidates who have spent their lives in government. As Americans begin to get to know the candidate who promised a universal basic income of $1,000 a month for adults, one thing about him remains unclear — his exact worth.
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Young, 44, did not file a financial disclosure, which would reveal his assets and liabilities, because he has not competed in the past. Personal finance website Financial Samurai estimates his net worth to be between $3 million and $4 million based on his background in tech startups, law and as the former CEO of Manhattan Prep, which was acquired by Kaplan.
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In June he “became a millionaire” when Kaplan bought his exam preparation startup in 2009 and is now “very comfortable.” Young didn’t reveal how much he made, but said, “My net worth is probably lower than a lot of speculation would lead us to believe.”
Former Chief Technology Officer Andrew Young gestures on the second night of the debate The first Democratic presidential candidate on June 27, 2019, in Miami, Florida. Drew Angerer/Getty With New Hampshire elementary school full, Andrew Young has called it a day as the 2020 race heats up.
Young is lagging behind in the bottom three and while he has raised some fundraising, $16 million in the fourth quarter, it’s not enough to be there.
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On a personal level, despite his career history as a corporate lawyer turned tech entrepreneur, Andrew Young’s estimated net worth is relatively small compared to his presidential candidate.
Young released eight years of his tax returns, from 2011 to 2018, according to The Hill.
Young’s 2018 tax return had adjusted gross income of $121,418, with $16,581 in taxes, according to The Hill.
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Documents show Young’s income comes from real estate rentals, royalties, speaking engagements, fundraising and writing, according to The Hill.
However, the Wall Street Journal reported last May that his assets range from $834,000 to $2.4 million, putting him close to Senator Bernie Sanders, who Forbes estimates is worth $2.5 million. But he was behind some of the first.
Senator Elizabeth Warren is reportedly worth $12 million, while former Vice President Joe Biden is worth $9 million.
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After graduating from Columbia Law School, Young was a corporate attorney, where he reportedly earned $125,000, plus $25,000 in bonuses, according to an interview he did with Freakonomics in January.
However, he only worked as a corporate lawyer for five months before leaving to work at startups, according to a June profile in the Washington Post.
Despite some difficulties, his Manhattan GMAT test startup was bought by Kaplan in 2009, at which point he “became a millionaire”, he told the magazine.
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While he didn’t say specifically how much he has, he told the Post that “my net worth is probably lower than a lot of speculation would have you believe.”
Young later became the CEO of a non-profit organization called Venture for America. According to the Center for Public Integrity, Young earned $285,000 in 2016 in that role, but his salary reportedly dropped to $214,000 in 2017. He stepped down as CEO. Later that year.
During the third presidential debate, Young promised to give $1,000 per month of his campaign to 10 people for a year to show how his plan for a universal basic income – called the “liberty dividend” – would work. Andrew Young (born January 13, 1975) is an American businessman, lawyer, campaigner, and politician. Young is a candidate in the 2020 Democratic presidential primary and in the New York gubernatorial primary in 2021. He is the co-chair of the Kadima party with former New Jersey Governor Christine Todd Whitman.
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The son of Taiwanese immigrants, Yang was born and raised in New York. He attended law school at Brown University and Columbia University. Young has become a leading candidate in the 2020 Democratic presidential race. His signature policy is a universal basic income (UBI) of $1,000 a month as a response to automatic job displacement. Young people popularize the concept of universal basic income through its application and activities.
News outlets have described Young as the most surprising candidate in the 2020 election cycle, from a relative unknown to a major contender in the race.
Young qualified and participated in the first debate of the 7 Democrats. Known informally as “Young Gao”, his supporters include many famous celebrities.
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After his campaign, Young joined CNN as political director, announced the formation of the political non-profit organization Humanity Forward, and ran for mayor of New York in 2021.
On October 4, 2021, Andrew Young announced that he was leaving the Democratic Party to become an individual,
Mistakes in what he characterized as a system entrenched in increasing polarization and said “he is more comfortable trying to fix the system than being part of it.”
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Later in October 2021, Young founded the Kadima party – political action committee and political party.
His father graduated with a Ph.D. in physics and worked at IBM and Jarral Electric research labs, earning more than 50 pats in his career.
He describes being bullied and called racial slurs by his classmates while in public school, in part because he was one of the kids in his class after skipping a grade.
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Young was part of the 1992 US National Debate Team that competed at the World Championships in London.
After graduating from law school, Young began his career as a corporate attorney at Davis Polk & Wardwell in New York. Young later described the job as “a candy-eating contest, and if you win, your prize is more candy.”
He left the law firm after five months, which he called “the worst five months of my life.”
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In February 2000, Young joined his officemate, Jonathan Phillips, in launching Stargiving, a celebrity-related charity fundraising website.
The startup was initially successful, but collapsed in 2002 when the dot-com bubble burst. Young was involved in other companies, including a party planning business.
After working in the healthcare industry for four years, Young left MMF Systems to join his far-away Zeke Vanderhoek at a small test preparation company, Manhattan Prep.
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In 2006, Vanderhoek asked Young to take over as CEO. While Young was CEO, the company primarily provided GMAT test preparation. It expanded from five to 69 locations and was acquired by Kaplan Inc. in December 2009. Young resigned as the company’s chairman in early 2012.
In September 2019, testifying before the New York Commission on Equality, former employee Kimberly Watkins testified that Young fired her because he felt she would not work as hard after marriage. Young died because of the charges.
Appearing on The View, Young said, “I’ve had so many women leaders lift me and my organization up at every step of my career, and if I were that person I would never have been successful.”
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In November, a former employee of Young’s at Manhattan GMAT sued him for allegedly paying her less than her co-workers and later firing him for a raise. Yang and another female employee at the company disputed the unnamed claim she was on equal footing with the male colleagues she cited.
After Kaplan bought Manhattan Prep in late 2009, Young began working on creating a new nonprofit scholarship program, Vture for America (VFA), which he founded in 2011. The organization aims to find and train entrepreneurs to start businesses in economically depressed cities.
VFA was launched with $200,000 and trained 40 graduates in 2012 and 69 in 2013. VFA added Columbus, Miami, San Antonio and St. Louis in 2014, with a grade of 106.
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VFA quickly received attention from all over the country, including from the Obama administration. In 2011, Young was recognized by Champions of Change, a White House program honoring 500 individuals from each state for outstanding work in their communities.
The VFA has also been criticized for falling short of the 100,000 job target. An ABC News investigation found that the VFA’s own figures counted only 365 jobs created in 2020, of which the New York Times found only 150 jobs remaining.
Startup, a documentary by Cynthia Wade and Cheryl Miller Hauser about six Detroit startups launched through VFA, was released in 2016.
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Young stepped down as VFA CEO in March 2017, but continued to advise startups on his signature policy on universal basic income during his presidential campaign.
On August 10, 2022, Andrew Young joined the advisory team of Legdary Ventures, an early stage venture capital firm, to drive strategic value across the retail technology group with Fung Brothers Ventures.
On March 5, 2020, follow
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