The American people have largely grown accustomed to their political leaders being at least moderately wealthy individuals, often with broad portfolios of investments in businesses, real estate, and retirement funds, and as such tend to be shocked or even skeptical when a career politician lacks those holdings in wealth.

One of those exceptional rarities in U.S. politics is Democratic Minnesota Gov. Tim Walz, the party's presumptive vice presidential nominee, who appears to own nothing of financial value other than a pension, according to ABC News.

That stands in stark contrast to Sen. JD Vance (R-OH), the Republican VP nominee, who like nearly every other politician is relatively wealthy and broadly invested across multiple sectors of the national economy.

Holds no investments in stocks or real estate

Gov. Walz was picked to be Vice President Kamala Harris' running mate this week, which prompted scrutiny of his past record and previous financial disclosures -- which didn't reveal much.

Walz holds no investments in any stocks, bonds, securities, or real estate, nor does he own any businesses or collect any speaking fees or book royalties.

What he does have is his annual governor's salary of around $127,000, plus his wife Gwen's modest income as a public school teacher, a life insurance plan valued up to $50,000, and a public pension that could range from $100,000 to $800,000.

As of 2019, When Walz transitioned from Congress to the governorship, he and his wife had a claimed net worth between $112,000 and $330,000.

Owns no properties at all

USA Today reported on the "anomaly" in modern U.S. politics of Gov. Walz's relatively meager wealth and, to some, suspicious lack of any investment holdings in the broader economy -- something that hasn't been seen at the presidential or vice presidential level since Harry Truman was selected as former President Franklin D. Roosevelt's running mate.

"In recent years, he stands out considerably. If you look at the folks who have been chosen as running-mates, they've been relatively financial secure," Mark Updegrove, a presidential historian, told the outlet. "He has a far more prosaic background than any of the other candidates I can think of, with the exception of Truman, in the last 75 years."

In addition to the lack of any investments, Walz also owns no properties, as he and his wife sold their home in Mankota in 2019 for $304,000 when he became governor. They now live in Eastcliffe Mansion, historically the home of the University of Minnesota president, which is rented by the state for $4,400 per month while the state-owned governor's mansion is renovated.

Is Walz "financially illiterate?"

Notably to some, it appears that Walz has never worked in the private sector and instead has been paid by taxpayers for his entire career, first as a member of the Minnesota National Guard and as a public school teacher and football coach, then as a member of Congress and now as a governor.

His lack of investments and wealth came up for discussion recently on Fox Business with host Charles Payne, who connected it to the long-standing leftist movement and collectivist ideology to discourage personal ownership of anything.

The Federalist's Brianna Lyman agreed and referenced a Walz quote about how "someone's socialism is another person's neighborliness," and how he has endorsed collectivism.

She also suggested that his not holding any investments showed that he is "financially illiterate, which she believed was also indicated by the way he essentially wasted Minnesota's pandemic relief funds from Congress on things like "murals, movie theaters, and parking for state employees" rather than helping his constituents who were financially struggling.