From politician to reality star, Thomas Ravenel has had an interesting career. While many viewers incorrectly assume everyone on television is wealthy, it's actually true for Thomas. It's not really because of the show he was on, though.
Having a diverse revenue stream is always helpful, as is coming from a wealthy family. Here, we'll take a deeper look at the finances of Thomas Ravenel and his family.
Thomas Ravenel Net Worth
From the most recent data, it is estimated that the former State Treasurer of South Carolina is worth $6 million. This figure is comprised from multiple sources of revenue. Not only did Ravenel dabble in politics, but he was also on a successful reality show and has many business investments.
Starting back toward the beginning of his career, Thomas Ravenel got into real estate. Working in and around Charleston proved to be quite profitable. By the end of the 90s, he founded a commercial real estate company called Ravenel Development Corporation.
His earnings, upwards of $400,000 annually, had accumulated over the years. By the mid-00s, Ravenel had around $3 million in his bank account. This was when he got the itch to run for US Senate and later State Treasurer.
Thomas Ravenel had a big boost into the political arena from his father, Arthur Ravenel Jr., who was an elected South Carolina representative. It is documented that, while in office, Thomas Ravenel earned $350,000. Of course, that was his salary for six months as a government official as well as his real estate company.
Following his departure from the treasury, Ravenel continued working in Charleston's real estate market. In 2017, Ravenel got a big bonus to his net worth when he agreed to appear regularly on the reality series, Southern Charm. At that point, he and the other cast members were contracted to receive $25,000 for each new episode of the show.
In total, over five seasons, the reality star made approximately $1.7 million as a cast member. Since his exit from the show, he has continued his ongoing work in real estate.
How much is Ravenal family worth?
Thomas Ravenel's personal income over the course of his professional life has derived from the following ways:
- Real estate
- Politics
- Reality TV
Additionally, Ravenel comes from what is often referred to as “old money”, a phrase that has been around for as long as wealth has been inherited. There's not a lot known about the private holdings of the larger Ravenel family, but they do have a wide variety of businesses and investments in South Carolina. One such asset is a bridge worth $600 million.
Who is the richest Southern Charm cast member?
When it comes to the actual wealth of cast members, how does Ravenel compare? Unsurprisingly, he's pretty high up the ranks. The more well-known cast members have a net worth that ranges from $400,000 up to $50 million.
You may be wondering what a similar castmate is worth. For example, what is Whitney from Southern Charm net worth? He's currently sitting around $2 million. Whitney is a bit different though since he created Southern Charm and went on to make two more shows using a similar format.
While Thomas Ravenel is the second wealthiest former or present member of the show, the top spot goes to socialite Patricia Altschul. At a net worth of $50 million, she has used her platform to increase her entrepreneurial skills. In addition to the show and being married to a Goldman Sachs partner, Patricia is an author and has a home goods line sold on the Home Shopping Network.
What is Thomas Ravenel doing now?
After leaving the show, Ravenel has gotten into plenty of drama in his personal life. His professional life, however, seems to be going as strong as ever. He still lives in South Carolina but did move from the town that made him both famous and wealthy in his own right, Charleston. To have a lower profile, Thomas Ravenel moved about two and a half hours away to provide a quieter life for his young son.
Since graduating from college, Thomas Ravenel has maintained a steady flow of income from real estate. It's unknown exactly how much money was given by his parents as a start-up at the beginning of his career, but it certainly has paid off. As other sources of revenue have come and gone, real estate has continued to be reliable.
In 2020, Ravenel was earning about $167,000 a month. It was not disclosed how that figure was calculated but it is assumed a majority came from his various Charleston real estate investments. That would put him at over $2 million in annual income.
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Discover how much Thomas Ravenel is worth on his own, what contributed to it, and how it compares to other Southern Charm castmates.
