Louisiana’s most active senator in stock trading has drawn significant attention to his financial activities. Hence, in this piece, we explore Bill Cassidy’s net worth to get insights into his overall finances, including assets, liabilities, and investments.
Who is Bill Cassidy?
Bill Cassidy serves as a US Senator from Louisiana, a role he’s held since 2015. Before his political career, Cassidy worked as a physician and a professor, giving him a diverse professional background. He earned his medical degree from Louisiana State University and spent years treating patients and teaching at the LSU Health Sciences Center.
Bill Cassidy’s net worth
According to OpenSecrets, Bill Cassidy’s net worth for 2018 was estimated to be -$1,115,971, placing him at the 98th rank in the Senate for that year. However, things appear to have changed since then. Based on his 2023 financial disclosure report, Bill Cassidy is currently worth anywhere between -$1,729,993 and -$361,002.
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Exceeding liabilities
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 Bill Cassidy make his money?
Senator Bill Cassidy’s income comes from multiple sources. Initially, his career as a physician provided a substantial income. However, once he went into politics, his salary as a senator and strategic investments significantly contributed to his financial status, which is publicly disclosed as $174,000.
Beyond that, he earns income from financial assets, including mutual funds, bonds, and retirement assets. His campaign finance summary also indicates contributions from large individual contributions, PAC contributions, and other sources.
Bill Cassidy’s assets
As mentioned earlier, Bill Cassidy’s assets range from $270,000 and $639,000; however, they are valued less than his reported liabilities ($1,000,002 to $2 million). His assets range from mutual funds to IRAs and bonds, with the most prominent ones being:
- TIAA—CREF Traditional mutual fund valued between $250,001 and $500,000;
- Green Tree 95-8 B2 Financial Corporation bond valued between $15,001 and $50,000;
- First Eagle Global I mutual fund valued between $1,001 and $15,000;
- Vanguard Wellesley Income Fund Admiral Shares mutual fund valued between $1,001 and $15,000;
- Wells Fargo Advisors bank deposit valued between $1,001 and $15,000.
Bill Cassidy’s controversies
Senator Bill Cassidy has faced various controversies over the years, including allegations of improper billing to Louisiana State University during his time in Congress, which became a focal point in his runoff election against Sen. Mary Landrieu. He also made contentious remarks linking Senate leadership to a plantation and questioning the literacy of poor individuals regarding Obamacare forms.
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How much is Bill Cassidy worth?
Known for his active stock trading, Louisiana Senator Bill Cassidy has drawn attention to his financial activities. His net worth is significantly impacted by liabilities, ranging between -$1,729,993 and -$361,002, despite assets worth $270,000 to $639,000.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
