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Louisiana’s most active senator in stock trading; Bill Cassidy’s net worth revealed

Louisiana's most active senator in stock trading; Bill Cassidy's net worth revealed
Bogdan Stojkov

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.

Exceeding liabilities

Bill Cassidy’s net worth is negative due to significant debt that ranges from $1,000,002 to $2 million, exceeding his total assets, which are somewhere between $270,000 and $639,000.

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.

Trump’s impeachment

Additionally, Senator Cassidy’s vote to convict former President Donald Trump during the impeachment trial for inciting the Capitol riot on January 6th set him apart from many in his party and drew significant attention.

The bottom line

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.

FAQs about Bill Cassidy’s net worth

Who is Bill Cassidy?

Bill Cassidy is a US Senator from Louisiana. He has been serving in the Senate since 2015 and is known for his involvement in various legislative activities, including healthcare and financial regulations.

How is Bill Cassidy’s stock trading activity tracked?

Senator Cassidy’s stock trading activities are tracked through financial disclosure reports that senators are required to file. These reports provide details on the stocks bought and sold, along with the dates and values of these transactions.

What is Bill Cassidy’s net worth?

According to his latest financial disclosure report, Bill Cassidy’s net worth is heavily affected by liabilities, ranging between -$1,729,993 and -$361,002, despite assets worth $270,000 to $639,000.

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