Cory Booker has made a name for himself in American politics and is seen as a potential presidential candidate in the future. As such, many people wonder just how wealthy the New Jersey senator is—so let’s explore Cory Booker’s net worth.
Who is Cory Booker?
Cory Booker was born in 1969 and grew up in Harrington Park, New Jersey. He attended Stanford University, earning a bachelor’s and a master’s degree, followed by a Rhodes Scholarship to study at the University of Oxford. He then went on to earn his Juris Doctor (J.D.) degree from Yale Law School.
Booker began his political career as a Newark City Council member before becoming the Mayor of Newark from 2006 to 2013. He won a special election in 2013 to become the US Senator from New Jersey, a position he still holds.
Cory Booker’s net worth
Cory Booker’s net worth varies, depending on different sources. Namely, OpenSecrets reports his 2018 net worth to be around $807,500, with Forbes estimating it at $1.5 million in 2019. However, based off his most recent financial disclosure report for year 2023, his minimum and maximum assets total $585,018 and $1,350,000.
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 Cory Booker make his money?
From what we were able to gather, Cory Booker has several income sources:
- Senate salary: As the Junior Senator from New Jersey, Cory Booker earns a yearly salary of $174,000;
- Book royalties: It’s reported that Booker earned over $1 million in royalties from his book “United”;
- Speaking engagements: The same source as above claims that he also earned well over $2 million from speaking engagements over the last two decades;
- Campaign contributions: Allegedly, Booker has accepted over $400,000 from the pharmaceutical industry during his political career.
Booker’s assets and investments
The Jersey Senator’s assets are rather well diversified, according to his 2023 financial disclosure report. They range from cash reserves and real estate properties to an investment portfolio and bank accounts. Here’s a quick rundown of his top 5 assets:
- New Jersey Public Employee Retirement System Pension retirement plan valued between $50,001 and $100,000;
- Fidelity Nasdaq Composite Index mutual fund valued between $50,001 and $100,000;
- Fidelity OTC Pt mutual fund valued between $50,001 and $100,000;
- Fidelity Blue Chip Growth Fund mutual fund valued between $50,001 and $50,001 and $100,000l
- Invesco QQQ Trust, Series 1 mutual fund valued between $50,001 and $100,000.
Insider trading involvement
There isn’t any public record about Cory Booker being involved in insider trading. However, it’s worth noting that back in 2014, he made a series of stock trades, including shorting Meta Platforms (NASDAQ: META), Apple (NASDAQ: AAPL), and Amazon (NASDAQ: AMZN).
The bottom line
Although there are various reports on Cory Booker’s net worth, it’s safe to assume that he’s pretty well off in terms of finances. With his minimum and maximum assets totaling $585,018 and $1,350,000, New Jersey’s Junior Senator and potential future presidential candidate sure has a hefty sum of money on him, albeit nowhere near the very top.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about Cory Booker’s net worth
What is Cory Booker’s net worth?
As of the most recent financial disclosure report, Cory Booker’s assets total between $585,018 and $1,350,000. He has no reported liabilities making his total assets’ value his actual net worth.
How does Cory Booker’s net worth compare to other US Senators?
Cory Booker’s net worth is relatively modest compared to some of his colleagues in the Senate. Senators like Rick Scott and Mitt Romney have significantly higher net worths due to extensive business ventures, investments, or inherited wealth.
Has Cory Booker faced any controversies regarding his finances?
There have been no major controversies surrounding Cory Booker’s finances. It appears that he has consistently reported his earnings and investments in accordance with Senate disclosure requirements.
