Tommy Tuberville is an ex-college football coach and the U.S. Senator for Alabama since 2021. Hailing from the ranks of the Republican Party, he is a staunch supporter of Donald Trump and advocates for conservative policies. Additionally, he is an active stock trader frequently accused of engaging in insider trading. In this article, we will disclose Tommy Tuberville’s net worth and his prolific stock trading activity.
How rich is Tommy Tuberville?
Before entering politics, Tommy Tuberville made a career in football coaching, starting in 1976 and lasting until 2016. Tuberville’s college coaching began in 1994 at the University of Mississippi (“Ole Miss”), ultimately earning him nationwide prominence. In August 2018, he moved from Florida to Alabama with the intention of running for the U.S. Senate, and he was successfully elected in 2020.
Decades of college football coaching have earned Tommy Tuberville substantial money through deals, salaries, and compensations. Also, a senator’s salary has also added a sizable portion to the bulk. However, Tuberville is primarily and somewhat controversially known as an active stock trader, with Business Insider reporting his wife and him having over $3.4 million in stocks and options.
What is Tommy Tuberville’s net worth?
Disclaimer: Estimating a lawmaker’s net worth is challenging because disclosure forms do not mandate exact values. Instead, lawmakers report the value of their assets and liabilities within specified ranges. While we strive to accurately estimate net worth from filings, disclosure rules have shortcomings. Personal residences, certain personal property, and federal retirement accounts are often not reported. Large assets can be listed in broad categories like “Over $1 million” or “Over $50 million,” potentially worth much more. Additionally, most Members of Congress earn $174,000 annually, but this isn’t required to be disclosed.
How did Tommy Tuberville get so rich?
Tommy Tuberville’s net worth is based on the following sources:
- Salary, deals, and payments as a college football coach: Tuberville’s coaching career earned him vast amounts of money. For example, in 2008, he was paid $5.1 million when he stepped back from Auburn. With Texas Tech, he signed a $2.2 million contract in 2012 and had an annual salary of $2 million in 2015. Furthermore, the Guardian wrote that the senator earned $25 million as a coach from Black athletes alone;
- Salary as a U.S. Senator: Since January 2021, Tuberville has received the annual payment of $174,000 due to all U.S. Senators;
- Active stock trading: Tommy Tuberville’s net worth has been significantly enriched by his stock positions and trading, amounting to more than $3.4 million.
Tommy Tuberville’s financial and investing controversies
The Humacyte stock trades are far from Tuberville’s only ethically questionable trades. In 2021 alone, the senator was in breach of stock-trading rules (specifically the STOCK act) a whopping 132 times, according to this report by Business Insider.
Tuberville routinely dismisses proposals to ban stock trading for high-ranking government officials due to potential conflict of interest, a notion that several members from both the Democrats and the Republicans espouse.
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In August 2012, the Securities and Exchange Commission (SEC) announced fraud charges against Tuberville as he invested $1.9 million in GLC Enterprises, which turned out to be an $80 million Ponzi scheme.
In 2014, Tuberville founded the “Tommy Tuberville Foundation”, which has been accused for being “a questionable charity that raises money but gives very little away”. Amid numerous controversy and accusations of failing to distribute funds, in July 2023, a representative of Tuberville stated that the foundation had paused its activities as it had been under audit.
Insider trading involvement
Tommy Tuberville, “the king of insider trades“, is frequently accused of insider trading. In 2021 alone, he was in breach of the federal transparency law nearly 130 times by failing to properly disclose stock trades worth up to $3.56 million. Furthermore, he traded pandemic-related stocks while sitting in the Senate health Committee and held positions in Alibaba (NYSE: BABA) while criticizing the Chinese government.
Who is Tommy Tuberville?
Tommy Tuberville was born on September 18, 1954, in Camden, Arkansas. He is a recognized American figure known as both a successful college football coach and later a U.S. Senator for Alabama.
Tuberville first achieved national prominence as an acclaimed and awarded football coach. He coached at several universities, such as the University of Mississippi (“Ole Miss”), Auburn University, Texas Tech University, and the University of Cincinnati. His most recognized tenure was at Auburn (1999-2008), where he achieved stellar coaching performance, including an undefeated season in 2004 and multiple SEC West Division titles.
Since retiring from coaching, Tuberville turned to politics. He ran for the U.S. Senate from Alabama and defeated the incumbent Democrat Doug Jones in 2020. His political stance tends to align with that of the former President Donald Trump. Marked by vocal opinions on the military, veterans’ affairs, diversity politics, abortion, and economic issues, his tenure has also featured multiple controversies, especially for alleged racism and his objections to the 2020 U.S. elections.
Tommy Tuberville’s net worth – the bottom line
Despite his relatively short career in politics, Tommy Tuberville has witnessed his share of controversy, especially around his stock trading activities that many see as problematic due to a potential conflict of interest. However, his net worth that is between $3.6 million and $14.325 million has also benefited from his decades-long career as a successful football coach.
Regardless of your opinion about Tuberville, he has successfully made it to the richer half of the U.S. Senators, many times richer than, e.g., Bernie Sanders, Tim Scott, John Fetterman, or Chuck Schumer.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
