Pete Hegseth financial disclosure, Hegseth book royalties
A Pentagon compliance officer signed off on the annual return in August, judging it lawful on the information it contained US Department of Defense / Public domain, cropped

Pete Hegseth's latest financial disclosure lists none of the books that earned him six-figure royalties before he became Defense Secretary. Signed on 14 May 2026, the yearly report covers 2025 and lists savings, cash and his wife's consulting clients. Yet in January 2025, he told ethics officials he still received royalties.

The gap matters because officials must report book rights worth more than $1,000 (about £750) at the end of the reporting period or generating more than $200 (about £150) in income during it. The filings do not explain whether he sold or transferred the rights, or whether their value and income both fell below the reporting thresholds. Their absence is not, by itself, proof of a breach.

What the Earlier Filings Showed

Hegseth's nominee report of 23 December 2024 put royalties for Battle for the American Mind at $100,001 to $1 million (about £75,000 to £750,000). HarperCollins, its publisher, also paid a $150,000 (£111,680) advance. The War on Warriors added a $348,000 (about £260,000) advance and royalties in that range. Smaller sums came from American Crusade. In the Arena. Simon & Schuster paid under $201.

His ethics agreement of 10 January 2025 named his three publishers: 'HarperCollins, Center Street, and Simon and Schuster.' He agreed to avoid matters in which they were, or represented, a party unless ethics officials approved. His nominee report said he would stay in a Fox News pension plan, though Fox no longer paid in. Over the period it covered, Fox paid him $4,602,340 (about £3.4 million).

Read more

What the New Report Lists Instead

The report shows his wife, Jennifer, received consulting fees from three groups. One is the America First Policy Institute, a Trump-aligned think tank, and another is Morrison Cohen, a New York law firm. The third is Watchtower Strategy, whose clients in 2025 included Lockheed Martin, according to Politico. Officials must name each source that paid a spouse more than $1,000 in earned income, but need not disclose the amount. Former Republican congressman Matt Gaetz attacked the Watchtower link on X, below.

Watchtower told Politico that Jennifer Hegseth helped it with conservative TV media and never dealt with its clients. Two Fox News plans listed in his 2024 filing are absent from the latest report: his cash balance pension plan and her deferred compensation plan. The report records a 24 August 2026 opinion by Pentagon ethics official Danica S. Irvine that Hegseth complied with applicable laws and regulations. Pentagon spokesman Sean Parnell said the couple were in 'full compliance with all ethics laws and regulations'.

What Could Explain the Gap

Lower royalties cannot excuse dropping books whose rights exceed $1,000. Payouts or rollovers could explain the missing Fox plans, Military.com noted. Federal law bars officials from personally and substantially handling matters involving a spouse's known financial interest, absent a statutory exemption. The report marks his Tennessee sole trader firm inactive while he serves.

Military.com, first to compare the filings, asked the Pentagon and Jennifer Hegseth to comment. Neither had replied. Republican Thomas Massie plans to reintroduce impeachment articles against Hegseth next week over the Iran war and other matters. Hakeem Jeffries, whose party takes the House in January, vowed to run him 'out of town'.

Writer's Pick