Tom Cotton is an American politician and military veteran who has served as the junior U.S. Senator from Arkansas since 2015. Before entering politics, he served as an infantry officer in Iraq and Afghanistan. Today, we will estimate the Republican senator Tom Cotton’s net worth and uncover his sources of income.
How rich is Tom Cotton?
Tom Cotton entered Harvard College after high school, where he earned a B.A. magna cum laude in government. After a brief period at Claremont Graduate University’s master’s program, he enrolled at Harvard Law School and received his J.D. in 2002.
After graduating from Harvard, Cotton spent a year as a law clerk in the U.S. Court of Appeals. He then went into private practice for two years but ended it by enlisting in the U.S. Army in 2005.
Cotton completed the U.S. Army Ranger Course, earning the Ranger tab, and Airborne School, earning the Parachutist Badge. He was deployed in Baghdad, Iraq, and Afghanistan, and by the time he was honorably discharged, he was awarded a Bronze Star and several medals for his service.
Once discharged, Cotton also did a stint at McKinsey & Company, a management consulting firm, but quickly gravitated towards politics instead. He was elected into the U.S. House of Representatives in 2012 and became a Senator in 2015, which he remains to this day.
What is Tom Cotton’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 Tom Cotton make his money?
Tom Cotton’s net worth has accumulated through several sources of income:
- Politics: Tom Cotton has been an elected official since 2012. First as a representative, now as a senator, he is entitled to a politician’s salary that amounts to $174,000 per year;
- Law practice: Cotton had two brief stints as a lawyer, first as a law clerk for Judge Jerry Edwin Smith, then in private practice for two years until he enlisted into the U.S. Army;
- Military service: Tom Cotton regularly served in Iraq and Afghanistan from 2005 to 2009. From 2010 to 2013, he was in the Army Reserve. He has achieved the rank of Captain;
- Sporadic investments: According to publicly disclosed 2022 financial disclosure forms, Tom Cotton has made several investments in mutual funds and savings accounts for his children. The figures are not precise, but they imply that about half of his wealth is in these assets;
- Writing books: Tom Cotton is the author of two books: Only the Strong: Reversing the Left’s Plot to Sabotage American Power and Sacred Duty: A Soldier’s Tour at Arlington National Cemetery. According to his 2022 financial disclosure form, he is allocated $300,000 in royalties from Grand Central Publishing, New York.
Insider trading involvement
In 2021, Business Insider reported how Douglas Coutts, Tom Cotton’s chief of staff, disclosed certain trades in 2020, two months after the legal deadline. These trades included shares in companies such as Chubb Limited (NYSE: CB), Alphabet (NASDAQ: GOOG), and Abbott Labs (NYSE: ABT), each valued between $1,001 and $15,000.
Who is Tom Cotton?
Tom Cotton was born on May 13, 1977, in Dardanelle, Arkansas. The Cotton family had lived in rural Arkansas for seven generations, and Tom himself grew up on his family’s farm. He graduated from Harvard College in 1998 and Harvard Law School in 2002.
After three years of practicing law, he enlisted in the army and served as an infantry officer. He went on combat tours in Iraq and Afghanistan and was decorated with awards such as the Bronze Star and Combat Infantry Badge.
Cotton embarked on his political career in 2013 when he became a U.S. House Representative. Building a reputation as a war hawk and political conservative, Cotton has advocated for more spending on national defense, tough immigration policies, and limiting the power of central government.
Recommended video: Republican Sen. Tom Cotton discusses Trump conviction
Furthermore, Cotton has maintained a number of controversial political positions, including opposing the Iran nuclear deal and supporting a hardline approach to China.
Tom Cotton’s net worth – the bottom line
The veteran senator from Arkansas has a relatively low net worth for a member of the Senate. Somewhere between -$5,085,000 and -$425,000, Tom Cotton’s net worth remains near the bottom of the list of U.S. representatives and can be compared to the wealth of fellow veteran senator Tammy Duckworth.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
