Few politicians spark as much curiosity about their private fortunes as Ed Miliband, whose career has been watched under a microscope—but what lies behind the public image of the former Labour leader might just astonish you.
From the bustling corridors of Westminster to quiet moments away from the spotlight, Ed Miliband’s life has been a balancing act of politics, public scrutiny, and personal ambition. Alongside other Labour heavyweights like Keir Starmer and recently dismissed Angela Rayner, Miliband’s journey offers a fascinating glimpse into how a prominent political career intersects with personal finance.
While headlines often focus on policies, parliamentary battles, and party dynamics, there’s another story quietly unfolding—one that traces his financial journey, career decisions, and the wealth accumulated along the way. What does it really take to navigate the complex interplay of politics, power, and personal finance in modern Britain? Join us as we explore the lesser-known side of Ed Miliband’s life, revealing how decades in public service have shaped not only influence but also his financial legacy.
Ed Miliband debating in the House of Commons, voicing his views on energy and climate policy.
Ed Miliband's Life Story
Early Life and Education
Ed Miliband was born on December 24, 1969, in University College Hospital, Bloomsbury, London, to Polish-Jewish immigrants Ralph Miliband, a Marxist intellectual, and Marion Kozak, an academic and political activist. Raised in Primrose Hill, London, Miliband attended Haverstock Comprehensive School in Chalk Farm, where he developed an interest in politics and became a violinist. He later studied Philosophy, Politics, and Economics (PPE) at Corpus Christi College, Oxford, graduating in 1990. Subsequently, he earned a Master’s in Economics from the London School of Economics (LSE).
Career Before Politics
After completing his education, Miliband briefly worked as a television researcher for Channel 4. In 1993, he joined the Labour Party as a researcher and speechwriter for MP Harriet Harman. The following year, he became a researcher and speechwriter for Shadow Chancellor Gordon Brown. During this period, Miliband took time off to earn his master's degree in economics from the London School of Economics. He soon became a special advisor to the Treasury and the chairman of HM Treasury’s Council of Economic Advisers. In this role, he was responsible for the United Kingdom’s long-term economic plan.
Political Career
Ed Miliband was elected as the Labour Member of Parliament (MP) for Doncaster North in 2005. He served in various governmental roles, including Minister for the Third Sector, Minister for the Cabinet Office, Chancellor of the Duchy of Lancaster, and Secretary of State for Energy and Climate Change under Prime Minister Gordon Brown.
Following the 2010 general election, Miliband succeeded Gordon Brown as Leader of the Labour Party and Leader of the Opposition. His tenure was marked by a leftward shift in party policies under the "One Nation Labour" branding and opposition to the Conservative–Liberal Democrat coalition government's public sector cuts.
Miliband also abolished the electoral college system to elect the leader and deputy leader of the Labour Party, replacing it with a "one member, one vote" system in 2014. He led the party into several elections, including the 2014 European Parliament election. After the 2015 general election defeat, Miliband resigned as leader and was succeeded by Jeremy Corbyn.
In July 2024, Miliband returned to government as Secretary of State for Energy Security and Net Zero. In this role, he has advocated for a "Green New Deal," aiming to combat climate change while addressing economic inequality. He has also proposed creating 400,000 clean energy jobs by 2030 and improving union rights in the green sector according to The Guardian.
Personal Life
Ed Miliband married barrister and environmental lawyer Justine Thornton in 2011. The couple has two children. Miliband is known for his interest in music and literature and has been involved in various charitable activities. He has publicly discussed the influence of his parents on his values and political views, emphasizing the importance of addressing injustice.
Ed Miliband engages with workers on a construction site, discussing energy and infrastructure projects.
Ed Miliband’s Net Worth in 2025
As of September 2025, Ed Miliband’s estimated net worth stands at £15 million. While far below the vast fortunes of Rishi Sunak (estimated at over £650 million with his wife Akshata Murthy’s inherited wealth), Miliband is comfortably among the higher-earning Labour figures. His fortune reflects a blend of long-term public service, publishing, and — most significantly — property appreciation in one of London’s most exclusive neighbourhoods.
How Ed Miliband Built His Wealth
Political Salaries
Miliband entered Parliament in 2005 as MP for Doncaster North, where the basic annual salary for an MP was just over £59,000. By 2010, as Secretary of State for Energy and Climate Change, he was earning around £141,000.
From 2010 to 2015, during his tenure as Leader of the Opposition, his salary rose to about £139,000 a year plus expenses. Since returning to the Cabinet in 2024 under Keir Starmer, he earns approximately £154,000 annually. Over two decades, his cumulative parliamentary pay and allowances total more than £2 million before tax according to Parallel Parliament.
Writing and Media Work
Miliband’s 2021 book Go Big: How to Fix Our World came with a government reported advance of £38,950. While the royalties have been modest, his media presence — including podcasts and speaking engagements — has provided additional income, though these are not significant compared with his political salary and property holdings.
Property Investments
The largest portion of Miliband’s net worth comes from real estate. In 2010, he bought his family’s Primrose Hill townhouse for around £1.6 million. The deal included purchasing his relatives’ share in the home, ensuring he and his wife Justine Thornton owned the entire property.
By 2025, the average value of similar townhouses in Primrose Hill is over £3.5 million, more than doubling his initial investment according to the Daily Mail. He also owns a smaller home in Doncaster, likely worth in the region of £200,000–£250,000. Combined, his property holdings alone represent nearly £4 million of his current wealth.
Family Inheritance
The Miliband family legacy also contributes indirectly. His late father Ralph Miliband, a Marxist academic, left intellectual and modest financial assets, though not on the scale of property fortunes. His brother David Miliband, the former Foreign Secretary, has built his own multimillion-pound career abroad, but Ed’s personal wealth is primarily rooted in his own assets rather than large inheritances.
What He’s Done With It
Unlike flashier politicians, Miliband avoids displays of wealth. He and his wife Justine Thornton, a High Court judge, maintain a family-focused lifestyle. Their biggest financial stake remains their London home, which has quietly appreciated into a multi-million-pound asset. They also continue to support causes tied to climate action and progressive policy, though Miliband has not cultivated the sort of business portfolio seen in figures like Tony Blair.
His wealth is relatively stable and secure, but unlike Sunak or Boris Johnson, Miliband has not sought lucrative post-politics speaking circuits or corporate advisory roles — though such opportunities could still expand his fortune in the future.
Ed Miliband shares a heartfelt hug with his brother David, highlighting their close family bond.
Latest News on Ed Miliband (September 2025)
Miliband Eyes “Loophole” for More North Sea Drilling
In a move that has sparked controversy, Ed Miliband’s department is reportedly exploring ways to support additional oil and gas production in the North Sea without formally issuing new exploration licences. The proposed approach would lean on “tie-backs” — allowing extraction from previously drilled areas using existing infrastructure — or bespoke licences that skirt around the need for fresh permits. Critics argue this undermines Labour’s manifesto commitment to halt new drilling, while supporters claim it could protect jobs and energy security.
This delicate balancing act signals the tensions Miliband faces between environmental goals and economic pressures, especially from energy-sector stakeholders and northern constituencies. The decision could define his reputation among both climate activists and industrial sectors over the next election cycle.
Renewables Hit Records, but Target Still Out of Reach
Official energy data for summer 2025 show that renewable sources — including wind, solar, hydro, and biomass — supplied 54.5% of the UK’s electricity over April to June, marking a new quarterly high according to The Independent. In parallel, Miliband argued on the global stage that climate action remains viable despite skepticism, noting that global clean energy investment exceeded $2 trillion in 2024.
Despite the progress, analysts warn that the UK still has a long way to go to meet the government’s clean-energy targets. The record output, for instance, only accounted for about 1.3% of the year’s total hours — a reminder of how far some gaps remain.
People Also Ask: FAQs About Ed Miliband
What is Ed Miliband’s net worth in 2025?
As of 2025, Ed Miliband’s net worth is estimated to be around £15 million. His wealth comes mainly from two decades of parliamentary salaries, book royalties, and the significant rise in value of his North London property.
How did Ed Miliband make his money?
The bulk of Miliband’s earnings come from his political career, with parliamentary salaries and ministerial top-ups amounting to just over £2 million since 2005. In addition, he earned an advance of nearly £39,000 for his 2021 book Go Big: How to Fix Our World, but the largest contributor to his wealth has been property — particularly the Primrose Hill family home he purchased and later benefited from as London house prices soared.
Is Ed Miliband wealthier than other Labour politicians?
Miliband is among the more affluent Labour MPs, but he does not reach the wealth levels of figures like Rishi Sunak, whose fortune is tied to private wealth and marriage into the Murthy family. His net worth is higher than many backbench MPs but broadly in line with other senior Labour figures who own London property.
Does Ed Miliband come from a wealthy background?
Miliband was raised in an intellectual household rather than a wealthy one. His father, Ralph Miliband, was a Marxist academic, and his mother, Marion Kozak, was a historian. However, the family’s Primrose Hill home, combined with inheritance arrangements, became a valuable asset over time and has significantly contributed to Ed’s personal wealth.
What does Ed Miliband spend his money on?
Miliband is known for a relatively modest lifestyle compared to other politicians. His main asset is his Georgian townhouse in Primrose Hill, now valued at around £3.5 million. He also maintains a constituency home in Doncaster worth an estimated £200,000–£300,000. There are no public records of luxury cars, yachts, or expensive indulgences — suggesting his wealth is primarily tied up in property rather than lavish spending.
The infamous “bacon sandwich” photo that became a viral symbol during Ed Miliband’s 2015 Prime Ministerial campaign.
Conclusion
Ed Miliband’s financial story is not one of overnight riches but of steady accumulation through a long career in public service, coupled with the appreciation of valuable London property. His estimated £15 million net worth in 2025 reflects a blend of consistent parliamentary salaries, modest royalties from writing, and family inheritance — rather than high-flying business ventures or private-sector deals.
Ed Miliband stands as a figure whose wealth sparks interest not because of glamour, but because it highlights how politics, family assets, and real estate can intersect in modern Britain. With his current role as Secretary of State for Energy Security and Net Zero, his influence extends well beyond personal finances, as he shapes policies that will impact both the economy and household budgets nationwide.
Ultimately, Miliband’s wealth underscores a paradox: a politician who has long championed fairness and the "squeezed middle" now sits comfortably among the more affluent figures in Parliament. Whether this strengthens or weakens his credibility with voters will depend on how effectively he delivers results in office.
