Jon Farney is the President and Chief Executive Officer of State Farm, the largest property-casualty insurer in the United States. Farney became CEO on June 1, 2024, succeeding Michael Tipsord after a distinguished 31-year career at the company. A Bloomington, Illinois native who started as an intern in 1993, Farney rose through financial operations, underwriting, and the CFO office to lead an organization with nearly 97 million policies in force, 65,000+ employees, and $132.3 billion in total revenue.
Read on to discover State Farm CEO Jon Farney’s email address, estimated net worth in 2026, salary and compensation, career history, education, and more.
Quick Facts
| Jon Farney — Key Information | |
|---|---|
| Full Name | Jon Farney |
| Position | President & Chief Executive Officer |
| Company | State Farm Mutual Automobile Insurance Company |
| Age | ~55 (born c. 1971) |
| Education | B.S. Accounting, Illinois State University; MBA, University of Michigan |
| Certifications | CPA, CPCU, CLU, ChFC, FLMI |
| Estimated Salary | ~$4 Million+ (base) |
| CEO Since | June 1, 2024 |
| Headquarters | One State Farm Plaza, Bloomington, IL 61710 |
| [email protected] | |
Career Highlights
- 31-Year State Farm Veteran: Jon Farney joined State Farm as a college intern in 1993 and rose through the ranks to become CEO in 2024 — one of the longest tenures before promotion to CEO in U.S. insurance history.
- CFO to CEO: Served as Senior VP, Treasurer & CFO from 2016 to 2024, overseeing the financial operations of the nation’s largest P&C insurer.
- Record Financial Turnaround: Under Farney’s first full year as CEO (2025), State Farm’s net income surged to $12.9 billion, up from $5.3 billion in 2024, and the company announced a record $5 billion auto customer dividend.
- Business Roundtable Member: Active participant in shaping U.S. business policy at the highest levels.
- Community Leader: Established two scholarships at his alma mater, Illinois State University.
Jon Farney Net Worth & Salary
As CEO of State Farm — a mutual company owned by its policyholders — Jon Farney’s exact compensation is not publicly disclosed in SEC filings. His base salary as CEO is estimated at approximately $4 million or more annually. His predecessor Michael Tipsord earned $24.4 million in total compensation in 2022, making him one of the highest-paid CEOs in the U.S. insurance industry. Farney’s total compensation package is believed to include bonuses, performance incentives, and executive benefits typical for a Fortune 50 CEO.
Jon Farney’s estimated net worth is in the multi-million dollar range, accumulated from over 30 years of escalating senior-level compensation at State Farm, including his years as CFO earning seven-figure compensation.
| Compensation Component | Estimated Amount |
|---|---|
| Base Salary | ~$4,000,000+ |
| Annual Bonus & Incentives | Not publicly disclosed |
| Retirement Benefits | Not publicly disclosed |
| Other Compensation | Not publicly disclosed |
| Estimated Total Compensation | $8M–$15M+ (est.) |
Key Insight: State Farm is a mutual company, meaning it is not publicly traded and does not file CEO compensation with the SEC. Farney’s predecessor earned as much as $24.5 million in total compensation (2021), suggesting Farney’s total package may be similarly substantial as he takes the reins of the $132 billion enterprise.
State Farm Financial Summary (FY2025)
| Metric | FY2025 | FY2024 | YoY Change |
|---|---|---|---|
| Total Revenue | $132.3B | $123.0B | ▲ +7.6% |
| Net Income | $12.9B | $5.3B | ▲ +143% |
| P&C Earned Premium | $111.6B | ~$103.0B | ▲ +8.3% |
| Underwriting Result | $1.5B gain | -$6.1B loss | Turnaround |
| Net Worth | $170.0B | $145.2B | ▲ +17.1% |
| Policies in Force | ~97M | ~84M+ | ▲ +15% |
| Employees | 65,000+ | ~55,000 | ▲ +18% |
| Agent Offices | 19,200+ | ~19,000 | — |
Record Year: State Farm’s 2025 results represent a dramatic turnaround. Net income surged to $12.9 billion (up 143% from 2024). The company announced a record $5 billion auto customer dividend and $924 million in life insurance dividends — the highest in company history. Auto underwriting alone generated a $4.6 billion gain after years of losses.
Jon Farney Career Timeline
| Period | Role |
|---|---|
| 1993 | Joined State Farm as a college intern (January–February) |
| May 1993 | Full-time employee, State Farm |
| Various years | Roles in securities, underwriting, planning & analysis |
| Various years | Assistant VP — Securities Products; Planning & Analysis |
| Various years | VP — Financial Operations; Operations VP — Underwriting |
| January 2016 | Named Senior VP, Treasurer & CFO |
| January 2024 | Elected President, State Farm Mutual |
| March 2024 | Selected as next CEO by Board of Directors |
| June 2024–Present | President & CEO, State Farm |
Jon Farney Education & Early Life
Jon Farney is a Bloomington-Normal, Illinois native. He earned a Bachelor of Science in Accounting from Illinois State University in 1993, where he was a member of the Beta Gamma Sigma business honor society and was mentored by Dr. Caroline Kern Craig. He later earned an MBA from the University of Michigan.
Farney holds an impressive array of professional certifications: CPA (Certified Public Accountant), CPCU (Chartered Property Casualty Underwriter), CLU (Chartered Life Underwriter), ChFC (Chartered Financial Consultant), and FLMI (Fellow, Life Management Institute). His father did accounting work for local contractors and builders, sparking Farney’s early interest in finance — he completed accounting coursework in high school before attending Illinois State.
Jon Farney Personal Life
Jon Farney is married and has three adult children who are spread across three states. He and his wife are now empty nesters. Farney grew up in the Bloomington-Normal area, where State Farm has been headquartered since its founding in 1922. He is known as a hometown success story, having spent his entire professional career at the company located just miles from where he grew up and attended college.
Farney is also a philanthropist, having established two scholarships at Illinois State University to support future business students at his alma mater.
Jon Farney Fun Facts
- Intern to CEO: Farney started as a college intern in January 1993 and rose to CEO in June 2024 — a 31-year journey from $0 intern to the corner office of the nation’s largest insurer.
- Hometown Hero: He attended Illinois State University, located just miles from State Farm’s headquarters, and has lived in the Bloomington-Normal area his entire life.
- Credential Collector: Farney holds five professional certifications (CPA, CPCU, CLU, ChFC, FLMI) — an unusually comprehensive set for an insurance CEO.
- $5 Billion Dividend: In his first full year as CEO, Farney announced a record $5 billion auto customer dividend — the largest in State Farm’s 103-year history.
How to Contact Jon Farney — State Farm CEO Email
To contact State Farm CEO Jon Farney, try the following:
| Jon Farney Contact Information | |
|---|---|
| Email Address | [email protected] |
| Corporate HQ | One State Farm Plaza, Bloomington, IL 61710 |
| Phone | (309) 766-2311 (corporate switchboard) |
| Website | statefarm.com |
| Business Roundtable | businessroundtable.org |
Frequently Asked Questions (FAQ)
Who is the CEO of State Farm?
Jon Farney is the President and Chief Executive Officer of State Farm. He became CEO on June 1, 2024, succeeding Michael Tipsord, who retired after serving as CEO since 2015.
What is Jon Farney’s salary?
Jon Farney’s base salary as State Farm CEO is estimated at approximately $4 million or more per year. His total compensation package, including bonuses and incentives, is not publicly disclosed as State Farm is a mutual company. His predecessor earned up to $24.5 million in total compensation.
What is Jon Farney’s net worth?
Jon Farney’s net worth is estimated in the multi-million dollar range, accumulated from over 30 years of senior-level compensation at State Farm, including his tenure as CFO.
Is State Farm publicly traded?
No. State Farm is a mutual company owned by its policyholders. It is the largest property-casualty insurer in the United States with nearly 97 million policies in force and $170 billion in net worth.
Where did Jon Farney go to school?
Farney earned a B.S. in Accounting from Illinois State University (1993) and an MBA from the University of Michigan. He also holds CPA, CPCU, CLU, ChFC, and FLMI certifications.
What is Jon Farney’s email address?
Jon Farney’s email address at State Farm is [email protected]. State Farm corporate headquarters can be reached at (309) 766-2311.
Article last updated: February 2026
Disclaimer: All information presented in this article has been compiled from publicly available sources, including corporate press releases, state insurance filings, and reputable news outlets. Compensation figures for State Farm executives are estimates, as the company is a mutual insurer and does not file executive pay with the SEC. Net worth figures are estimates and may vary by source.