Dean Phillips Net Worth Makes Him One Of The Richest Congress Members

Dean Phillips Net Worth Forbes 2023

Dean Phillips, the U.S. Representative from Minnesota’s 3rd congressional district, is not your typical politician. Beyond his political career, he is a businessman with substantial wealth, making him one of the wealthiest members of Congress. Let’s take a closer look at Dean Phillips’ net worth.

Dean Phillips’ net worth has been a subject of interest, with reports suggesting a staggering $77 million net worth in 2018. This considerable wealth places him among the richest members of Congress. His financial success and business acumen have not gone unnoticed in the political arena. Dean Phillips is married and has two daughters from a previous marriage.

Early Life

Dean Phillips was born in 1969 in Saint Paul, Minnesota, and he hails from a family with a rich history in the liquor business. His family owns the Phillips Distilling Company, and he has served as its President and CEO. His early education at The Blake School and his graduation from Brown University in 1991 paved the way for his future endeavours.

After completing his education, Phillips worked for InMotion, a bicycle equipment and apparel company, for two years. However, he eventually joined the family business, the Phillips Distilling Company. His impressive educational background was further strengthened by an MBA from the University of Minnesota’s Carlson School of Management, which he attained in 2000.

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How did Dean Phillips make his money

As the President and CEO of the Phillips Distilling Company, Dean Phillips held a prominent role in the family business from 2000 to 2012. He later expanded his entrepreneurial horizons by venturing into the gelato business. Phillips co-owned Talenti gelato, a well-known brand, which was eventually sold to Unilever in 2014, though the exact amount of the sale remains undisclosed.

In 2016, Dean Phillips added another entrepreneurial feather to his cap by founding Penny’s Coffee, a coffee shop chain with two locations in the Twin Cities metropolitan area as of 2022. This venture added to his wealth and diversified his business portfolio.

In a surprising turn of events in 2023, Dean Phillips announced his intent to challenge incumbent President Joe Biden for the Democratic Party’s nomination in the 2024 presidential election. This bold move underscores his determination and ambition in the realm of politics.

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Presidential Candidate

Dean Phillips is not your typical politician. His substantial wealth and diverse business ventures have set him apart in the world of politics. As he ventures into the presidential race, his net worth and background as a successful businessman will undoubtedly be topics of discussion and scrutiny. Phillips is a man with ambition, and only time will tell how far his political aspirations will take him.