A power converter includes: a circuit board having an insulating substrate and a plurality of wirings in the insulating substrate; and first and second switching elements on a first surface of the circuit board that are connected in series. The first switching element has first and second electrodes. The second switching element has a third electrode and a fourth electrode. The circuit board has a first wiring connected to the first electrode, a second wiring connected to the second and third electrodes, a third wiring connected to the fourth electrode, a fourth wiring as an output wiring connected to the third electrode, and a fifth wiring connected to the third wiring. The first, second, third and fourth wirings are arranged in order on the first surface, and the fifth wiring on a second surface opposite to the first surface is opposed to the first, second, and third wirings.