Kentucky’s most active senator in stock trading; Rand Paul’s net worth revealed

Although not the richest US Senator, Rand Paul’s net worth is definitely one to watch out for. In this piece, we’ll pick apart his finances to get to the bottom of how rich he is and whether he was ever part of any controversy, such as insider trading.

Who is Rand Paul?

Rand Paul is a physician-turned-politician representing Kentucky in the US Senate for the past 13 years. He gained national attention during his 2016 presidential campaign as a Republican candidate. Despite a rocky relationship with Donald Trump during the primaries, Paul now enjoys the former president’s endorsement.

Rand Paul’s net worth

As of the most recent estimates by OpenSecrets, Rand Paul’s net worth stands between $170,041 and $1,376,999. These figures place him among the mid-tier members of the Senate, where the average net worth tends to be significantly higher.However, based on Senator Paul’s financial disclosure report for year 2023, his actual net worth is somewhere between $650,042 and $2,404,999.

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 Rand Paul make his money?

Just like many other US Senators, Rand Paul has diverse income sources, such as:

• Medical career: Before politics, Paul earned an undisclosed amount from his ophthalmology practice in Bowling Green, Kentucky;

• Senatorial salary: As a US Senator, he receives an annual salary of $174,000;

• Book royalties: His book, “Taking a Stand,” published in 2014, earned him between $100,000 and $1 million;

• Investments: Paul has been active in stock trading, although specific details about his returns are not widely publicized.

Paul’s assets and investments

Just like his income sources, Paul’s portfolio of assets and investments is also diverse. His financial holdings range from stock holdings and mutual funds to real estate and business entities. He also has significant investments in inflation-protected securities funds and money market funds. That said, here’s a rundown of these assets and investments:

• Stock holdings: Senator Paul’s wife, Kelley Paul, purchased up to $15,000 worth of shares in Gilead Sciences (NASDAQ: GILD), a research-focused biopharmaceutical company. This was the only individual stock reported in his financial disclosure;

• Real estate: The Kentucky Senator and his wife own a residential property in Destin, Florida, valued at between $100,001 and $250,000;

• Inflation-Protected Securities funds: Paul’s biggest investment holdings are in Vanguard’s Inflation-Protected Securities funds, in which he has two separate investments (one in a joint account) worth $100,000 to $250,000 each;

• Money market funds: Money.com also reports that Paul’s next biggest holding is $50,000 to $100,000 in a Vanguard money market fund. He and his family hold a half dozen money-market accounts;

• Gold investments: According to his most recent disclosure report, Rand Paul has invested between $1,001 and $15,000 in American Century’s Global Gold fund.

Insider trading involvement

Rand Paul’s active involvement in stock trading has not been without controversy. Allegations and investigations into insider trading among US lawmakers have put Paul under scrutiny. A former Southern District of New York federal prosecutor called for Rand Paul to be investigated for insider trading. However, it is important to note that while there have been accusations, no conclusive evidence has led to legal action against him.

The bottom line

All in all, Rand Paul’s net worth of between $650,042 and $2,404,999 is more than a hefty sum. But despite being one of the more active senators in stock trading, his wealth is moderate compared to many of his peers in the Senate. Still, controversies regarding insider trading and his wife’s investment in Gilead Sciences affect the Kentucky Senator’s public profile.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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