Greg Abbott is an American politician and attorney who has served as the Governor of Texas since 2015. A staunch Republican, Abbott is known for his tough stance on illegal immigration, abortion, and gun control, as well as unwavering support for Donald Trump. Today, we will explore Greg Abbott’s net worth and reveal the public streams of his wealth.
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How rich is Greg Abbott?
Greg Abbot attended Duncanville High School and graduated from the University of Texas at Austin with a BBA in finance. In 1984, he earned his J.D. from the Vanderbilt University Law School.
After finishing his studies, he worked in private practice for a firm called Butler and Binion until 1992. Afterward, he served as a state trial judge in Houston until then-Governor George W. Bush appointed him to the Supreme Court of Texas. He would be re-elected twice, and in 2001, Abbott returned to private practice and took an adjunct professor position at the University of Texas School of Law.
In 2002, Abbott was elected Texas Attorney General and held the position until 2015, making him the longest-serving Texas attorney general ever. His tenure was marked by prominent litigation efforts against Obama’s federal administration, aiming to advance a conservative agenda and oppose federal intervention.
Greg Abbott was elected governor of Texas in the 2014 elections and has served since 2015. If he wins the 2024 elections, he will be poised to set the record for the longest-serving governor of Texas in history.
What is Greg Abbott’s net worth?
Disclaimer: While we strive to estimate net worth accurately 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. Likewise, state financial forms may omit residential property and liabilities like mortgages.
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How did Greg Abbott make his money?
Governor Greg Abbott’s entire professional life revolves around judiciary career and politics. Here’s an overview of his public sources of income:
- Judiciary: Shortly after obtaining his J.D. from the Vanderbilt University Law School, Abbott entered private law practice. He had also acted as a state trial judge, a Texas Supreme Court justice, and an adjunct professor at the University of Texas School of Law;
- Politics: As the governor of Texas, Abbott is entitled to an annual salary of $153,750.
- Insurance settlement: In 1984, a tree fell on Abbott while he was jogging, paralyzing him from the waist down. He was 26 at the time. Ater suing the homeowner and a tree service company, he reached an insurance settlement for a lump sum every three years until 2022 and lifetime monthly payments. As of 2024, the lawsuit provided him with $7.8 million.
Insider trading involvement
Although Greg Abbott engaged in high-profile individual stock trading, he renounced the practice in 2015 after becoming the governor of Texas. He has also opted not to have assets in a blind trust while serving as a governor. Therefore, he cannot benefit from insider trading.
Who is Greg Abbott?
Greg Abbott was born on November 13, 1957, in Wichita Falls, Texas. He is the current governor of Texas, having previously served as a state district judge and a member of the Texas Supreme Court. He obtained his law degree from Vanderbilt University Law School.
A member of the Republican Party, Abbott has focused on conservative issues, such as border security, tax cuts, deregulation and decentralization, and expanding gun rights. He made headlines in 2021 for his response to the COVID-19 pandemic, opposing mandatory masks and limiting restrictions in general. Furthermore, Abbott has been a vocal supporter of Donald Trump. He was also considered as Trump’s VP before the choice fell on JD Vance.
Recommended video: WATCH: Gov. Greg Abbott speaks at 2024 Republican National Convention | 2024 RNC Night 3
Abbott, being himself paralyzed from the waist down, is a supporter of disability rights. He is the third governor in the U.S. history to use a wheelchair. Abbott is married to Cecilia Phalen Abbott, the first Latina to be the First Lady of Texas, and they have one adopted daughter.
The bottom line
The governor of Texas has not allowed difficult conditions to hinder his career. His law expertise and political skills contributed to Greg Abbott’s net worth being approximately $14 million.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about Greg Abbott net worth
What is Greg Abbott's net worth?
According to various sources, Greg Abbott’s net worth is estimated at $14 million.
Who is Greg Abbott's wife?
Greg Abbott has been married to Cecilia Phalen Abbott since 1981. She is the first Latina First Lady of Texas in history. They have an adopted daughter.
Why is Greg Abbott in a wheelchair?
Greg Abbott suffered an accident when a tree fell on him while jogging after a storm. He is paralyzed from the waist down and uses a wheelchair.
Who is the longest-serving governor of Texas?
As of 2024, Rick Perry is Texas’ longest-serving governor. However, if Greg Abbott gets re-elected in 2024 and completes the term, he will claim the record for himself.
