Gov. Phil Murphy and his wife, Tammy Murphy, had a taxable income of more than $3.4 million in 2024 — a figure nearly 32 times more than New Jersey's median household income.

New Jersey's first family released their 2024 tax returns on Oct. 29. They show the couple’s $3,410,662 in income is up more than $2 million from their $1,384,348 income in 2023.

Murphy, a retired Goldman Sachs executive, has seen significant income shifts during his tenure, though his annual salary as governor has remained at $175,000.

Murphys experience income swings

The Murphys have seen their income swing dramatically over the course of the last few years from about $982,000 in 2020 to $5.2 million in 2021 then dropping to about $655,000 in 2022 and back up to about $1.4 million in 2023 before continuing up t

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