In 2008, the earliest year for which Warren has released income tax returns, Warren and her husband Bruce Mann had a combined income of $831,208, which increased in 2009 to $981,670. Warren was paid an average of $350,000 per year by Harvard Law School during 2009-2010.
Warren’s net worth as of the end of 2011 was as high as $14.5 million.
In 2010-2011, Warren earned approximately $140,000 from Aspen Publishers for her books about bankruptcy. Warren also has published a variety of commercial books over the years, for which no income data is available, such as the 2004 publication of The Two Income Trap which incorporated her bankruptcy research and many of her non-commercial articles.
Warren also worked as a private consultant for which she earned $90,000 on bank antitrust litigation, although it’s not known if she incorporated her banktruptcy docket work because she will not release her report.
During 2008-2010, Warren was paid $212,000 for legal work on behalf of Travelers Insurance Co. in connection with asbestos liability litigation.
Stephen Helfer, a former library assistant at Harvard Law School, in a letter to the Cambridge Wicked Local, asserted that Warren failed to support library staff who faced layoffs in 2009:
Cambridge —Senator-elect Elizabeth Warren says she is a “fighter” for moderate-income Americans (“Warren wins U.S. Senate seat,” CambridgeChronicle, Nov. 8). When given the opportunity to stand up for low-income employees at Harvard three years ago, however, where she has been a tenured professor for almost 20 years, Warren did nothing of the sort.
In 2009, at the depth of the recession, Harvard’s endowment, because of its high-risk investing, decreased 30 percent. The university proclaimed it needed to cut costs and warned low-paid staff of layoffs. Many on campus asked the administration to follow the example of institutions like Beth Israel hospital and request faculty and other high earners to take pay reductions as a means to save jobs.
Several employees at Harvard Law School circulated a petition asking all law school members, who could, to make such a sacrifice. Warren and her husband (also a Harvard Law professor) have combined yearly incomes in the $1 million range and she earned another $200,000 for work she called “part-time” in Washington. During this uneasy period when across campus staff feared for their livelihoods, Warren remained silent.
Harvard president Drew Faust — whose own salary is close to $1 million — and university administrators ignored requests for pay reductions. Ultimately 275 lower-income employees lost their jobs and many more were persuaded to retire. Harvard professors, ever fond of inveighing against “corporate greed” and voicing slogans like “shared sacrifice,” suffered no inconvenience.
Warren now vows to go to Washington to fight for the middle class. But, like so many academics, she is more adept at feathering her own nest than truly helping Americans in need.
–Stephen Helfer, Crawford Street
Helfer served as a library assistant at Harvard Law School for 22 years and retired in 2009.
In February 2013, The Washington Post reported that Warren purchased a $740,000 condo in Washington, D.C.:
The new senator from Massachusetts has put down roots in downtown Washington — and her posh Penn Quarter condo is within walking distance of hot restaurants, popular museums and even her new office. Two bedrooms, two baths and just over 1,400 square feet. She closed on the property last month and quickly started enjoying the neighborhood, including a dinner at nearby Hill Country Barbecue.
- ^ Rachel Weiner, Scott Brown, Elizabeth Warren release tax returns, The Washington Post, Apr. 27, 2012
- ^ Glen Johnson and John R. Ellement, Scott Brown, Elizabeth Warren release tax returns, The Boston Globe, April 27, 2012
- ^ BuzzFeed Staff, Elizabeth Warren Suggests She's Not In The 1%, BuzzFeed, Jan. 27, 2012
- ^ Archive.org, Elizabeth Warren Senate Campaign Disclosure, Archive, Oct. 4, 2012
- ^ Elizabeth Warren and Amelia Warren Tyagi, The Two Income Trap, Google Books, 2003
- ^ Robert Schmidt, Warren Worked on Bank Suit While Head of TARP Panel, Bloomberg, Sep. 28, 2010
- ^ Noah Bierman, Elizabeth Warren was key in asbestos case, The Boston Globe, May 1, 2012
- ^ Stephen Helfer, LETTER: Warren didn't stand up for low-income Harvard employees, Wicked Local Cambridge, Nov. 26, 2012
- ^ The Reliable Source, Surreal Estate: Sen. Elizabeth Warren buys Penn Quarter condo, The Washington Post, Feb. 26, 2013