Teamsters Claim $1 Billion in Assets as Costco Strike Looms (1)

The International Brotherhood of Teamsters is worth $1 billion in assets, according to President Sean O’Brien, resources that will likely influence how the union tackles bargaining and labor disputes next year.

That includes a $348 million strike and defense fund that has consistently grown $3 million to $4 million a month, O’Brien said Tuesday in a speech to Costco Wholesale Corp. workers in Long Beach, Calif. Those figures represent staggering gains for the union and could allow it to wage damaging strikes against even the largest US companies in 2025.

The Teamsters reported far fewer assets—$566 million in total—on their most recent federal disclosure form this past June. That included $410 million in investments and $91million in cash.

O’Brien said the $1 billion figure is “inclusive of a lot of financial things we have going on,” and praised Secretary-Treasurer Fred Zuckerman for turning the union into a “powerhouse” financially. He said the numbers came from a monthly review of finances Tuesday morning, but didn’t elaborate.

About 18,000 Costco workers represented by the Teamsters could strike at the end of January if they don’t reach a deal with the company.

Teamsters spokeswoman Kara Deniz clarified that the numbers come from an internal document. She added that O’Brien eliminated the waiting period for strike benefits to kick in, and that companies “have to bargain knowing there’s money and power to go out on strike.”