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Testosterone-obsessed Pete Hegseth has a bank account that jumped from under $50,000 to over $1 million

Plus, he might also be a crypto bro.

pete hegseth

US Secretary of Defense Pete Hegseth watches as US President Donald Trump and Chinese President Xi Jinping meet bilaterally in the Oval Office at the White House in Washington, DC, on September 24, 2026.

Brendan SMIALOWSKI / AFP via Getty Images

Defense Secretary Pete Hegseth has reported more than $1 million in an account that he previously listed as holding no more than $50,000, according to his newly released annual financial disclosure.

An account labeled “U.S. bank #2” held between $15,001 and $50,000 in his 2024 nominee disclosure. The account listed under the same label in his annual report holds more than $1 million. The filings do not explain the change.


Hegseth and his wife, Jennifer, reported at least $3.1 million in cash, retirement investments and bitcoin combined, according to CNBC. Their retirement investments alone are listed at roughly $2.05 million to $4.35 million. That is a combined household range: Pete Hegseth’s listed retirement investments total roughly $500,000 to $1.25 million, while Jennifer Hegseth’s total roughly $1.55 million to $3.1 million.

Related: ‘High T’ Pete Hegseth’s approval rating hits embarrassing low

The testosterone-focused Cabinet member also reported two bitcoin holdings in a Coinbase wallet. Together, they are valued at between $16,002 and $65,000.

The disclosure lists consulting income associated with the conservative America First Policy Institute, Watchtower, and the New York law firm Morrison Cohen under Jennifer Hegseth’s employment and income section. Annual financial disclosures list assets in broad ranges. Because the account valued at more than $1 million has no stated upper limit, the filings cannot establish Hegseth’s precise net worth or whether it has increased since he joined the administration.

Related: Pete Buttigieg calls Pete Hegseth ‘unfit to lead’ after second bombshell Signal chat leak revelation

The disclosure became public weeks after NBC News reported that Hegseth had discussed a possible 2028 presidential run with people close to him. Hegseth called the report “100 percent false.”

A Quinnipiac University poll released this month found that 32% of voters approved of his performance and 57% disapproved amid the war with Iran. He has also drawn criticism for his rhetoric about transgender people and his pressure on Scouting America to curtail LGBTQ+ programming. After Hegseth shared a video featuring a pastor who opposed women voting independently, a Pentagon spokesperson said Hegseth supports women’s right to vote. The Advocate reported.

Related: Sen. Mark Kelly sues Pete Hegseth’s Pentagon after Trump administration moved to punish him for his speech

Hegseth has faced congressional scrutiny over reports that transgender troops have waited months for separation pay promised after they left the military under President Donald Trump’s ban. Republican Rep. Thomas Massie has pursued impeachment of Hegseth over the Iran war. Former Army Secretary Dan Driscoll resigned this month after months of reported friction with Hegseth.

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