New Financial Disclosures Show Reduced Wealth for Governor and Husband

Recent financial reports reveal that New York Governor Kathy Hochul and her husband William Hochul have savings estimated between $2.2 million and $4.3 million, a decrease from previous years’ declarations. William Hochul recently took a position defending white-collar criminals at Davis Polk law firm, earning an estimated $850,000 to $950,000 in 2024, according to filings that list income ranges rather than precise figures.

Although still earning a substantial income, this represents a notable pay cut from his previous salary of approximately $1.45 to $1.55 million as counsel for Delaware North, a gaming and hospitality company. Hochul’s departure from that role in August 2023 followed controversy over potential conflicts of interest, as his former employer lobbied Hochul’s office on issues like gambling rights and sports betting. Reports suggest Hochul’s administration made decisions aligning with her husband’s business interests in some cases.

In 2024, William Hochul received deferred compensation close to $100,000 from Delaware North. The couple’s liquid assets also shrank from a range of $2.9 to $5.6 million in 2023 to about $2.2–$4.3 million this year. They sold some investments; however, it remains unclear where the proceeds were allocated. Their holdings included over 180 different stocks and financial assets in 2023, surpassing what some notable financial figures have declared.

Filings indicate the Hochuls sold certain investments in 2024 without clarifying the purpose or destination of the funds. Despite these transactions, they did not report any new real estate acquisitions, though the governor is known to own a waterfront condo in Buffalo valued at over $800,000. While Hochul resides primarily in the governor’s mansion in Albany, her property records suggest the Buffalo residence remains her principal home.