Hegseth's Bank Account Balloons to Over $1 Million in Newly Released Financial Disclosure

Defense Secretary Pete Hegseth's financial disclosure has sparked controversy after it was revealed that an account listed as holding between $15,001 and $50,000 now holds more than $1 million. The change is not explained in the filings, which list assets in broad ranges.

Hegseth and his wife, Jennifer, reported a combined household range of at least $3.1 million in cash, retirement investments, and Bitcoin. Their retirement investments alone are listed at roughly $2.05 million to $4.35 million, with Hegseth's total ranging from $500,000 to $1.25 million and Jennifer's total ranging from $1.55 million to $3.1 million.

The disclosure lists consulting income associated with the conservative America First Policy Institute, Watchtower, and the New York law firm Morrison Cohen under Jennifer Hegseth's employment and income section. Annual financial disclosures list assets in broad ranges, so it is unclear whether Hegseth's net worth has increased since he joined the administration.