How rich is North Carolina’s senator: Ted Budd’s net worth revealed

Ted Budd is an American businessman and politician who has served as the U.S. Senator from North Carolina since 2023. Besides participating in politics as a member of the Republican Party, Budd is a businessman and the owner of a gun store and shooting range. Today, we will outline Senator Ted Budd’s net worth and reveal his public sources of income. 

How rich is Ted Budd?

Ted Budd earned a B.S. in business administration from Appalachian State University in 1994. He attended the Dallas Theological Seminary and obtained a master’s in theology in 1994. Afterward, he enrolled at the Wake Forest University School of Business and received a master’s of business administration in 2007.

During childhood, Budd’s family moved to a farm in Advance, North Carolina to raise cattle and chickens. He lives and works on the farm with his family to this day. In the past, he managed his father’s janitorial and landscaping company. Additionally, he owns ProShots, a gun store and shooting range.

Budd first entered politics in 2017 when he was elected to the U.S. House of Representatives. In 2022, he was elected Senator from North Carolina, officially assuming the role in January 2023.

Owing to his various business endeavors and real estate, Ted Budd already amassed a significant fortune before becoming a senator.

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 Ted Budd make his money?

Apart from politics, Ted Budd has a successful career in business and owns his family farm. His public sources of income have included:

• Farming: Ted Budd’s family moved to Advance, North Carolina when he was a child and started raising cattle and chickens. He has continued with his agricultural business even into his senatorial career;
• Politics: Senator Budd first started doing politics in 2017 as a member of the U.S. House of Representatives. Today, he is a U.S. Senator from North Carolina, which comes with an annual salary of $174,000;
• Gun store: Ted Budd owns ProShots, a gun store and shooting range in Rural Hall, North Carolina. Besides reflecting his advocacy for the Second Amendment, the gun store is one of his most valuable assets;
• Various investments and business endeavors: Budd has been involved in multiple other business practices. At one point, he managed his father’s janitorial and landscape company. He has significantly invested in mutual funds through trusts, brokerages, and savings plans.

Ted Budd’s assets

Budd’s 2022 financial disclosure form reveals the Senator from North Carolina’s substantial portfolio, which includes assets such as:

• PS1 Rural Hall LLC, doing business as ProShots – a gun store and shooting range in Rural Hall, North Carolina, valued between $1,000,001 and $5,000,000;
• A warehouse on Hope Church Road – a piece of commercial real estate valued between $500,001 and $1,000,000;
• A Truist Financial bank deposit – valued between $250,001 and $500,000;
• Budd Farm in Advance, North Carolina – split into two parts and owned by Ted Budd’s children, each valued between $250,001 and $500,000;
• Beach property in Wilmington, North Carolina – split into two parts and owned by Ted Budd’s children, each valued between $250,001 and $500,000. 

Insider trading involvement

His latest financial disclosure form shows that Ted Budd does not own or trade individual stocks. Furthermore, he has not been accused of insider trading.

Who is Ted Budd?

Theodore Paul Budd was born in Winston-Salem, North Carolina, on October 21, 1971. He holds a B.A. in business administration from Appalachian State University, an M.B.A. from Wake Forest University, and a master’s in educational leadership and administration from Dallas Theological Seminary.

Budd worked on the family farm during his childhood and later managed his father’s janitorial and landscaping company. He remains a successful businessman and owns multiple businesses and rental properties. 

Recommended video: ‘That’s The Kind Of Senator That I Want To Be’: Ted Budd Delivers Maiden Senate Floor Speech

Ted Budd started his political career as a U.S. Representative from North Carolina’s 13th congressional district in 2017. In 2013, he became a Senator from North Carolina. He is a staunch conservative and pro-Trump Republican, highlighting limited government, individual liberty, gun rights, and health care issues during his tenure. He has been a member of the Freedom Caucus.

The bottom line

The Senator from North Carolina’s sizable net worth puts him among the wealthier U.S. Senators. More precisely, Ted Budd’s net worth is between $2.82 million and $10.83 million.

Disclaimer: The featured image in this guide is for illustrative purposes only and may not accurately reflect the true likeness of the individuals depicted.

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