Known for his active participation in stock trading, Texas Senator Ted Cruz’s financial activities have garnered significant attention. In this article, we explore Ted Cruz’s net worth, while also covering his background, sources of income, allegations of insider trading, and a detailed rundown of his assets and investments.
Who is Ted Cruz?
Born on December 22, 1970, in Calgary, Alberta, Canada, Ted Cruz is an American politician and attorney serving as the junior United States Senator for Texas since 2013. Cruz attended Princeton University and Harvard Law School, establishing a strong academic foundation. He gained prominence as a constitutional lawyer and served as the Solicitor General of Texas from 2003 to 2008.
Cruz ran for the US Senate in 2012, winning his seat with significant support from the Tea Party movement. Known for his staunch conservative views and articulate debating skills, Cruz quickly became a leading figure in the Republican Party. In 2016, he ran for President, emerging as a significant contender before eventually losing the Republican nomination to Donald Trump.
Ted Cruz’s net worth
Back in September 2023, Business Insider estimated that Ted Cruz’s net worth is at least $2.6 million, while OpenSecrets’ report from 2018 projected the figure to be $3,198,068, showcasing his diverse portfolio of assets and investments. However, based on his financial disclosure for year 2022, we estimated his net worth to be somewhere between $2,069,034 and $4,510,000.
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.
Sources of income
Ted Cruz’s income comes from several sources, including his Senate salary, book deals, speaking engagements, and investments. Here’s a brief overview of each:
- Senate salary: As a US Senator, Cruz earns an annual salary of $174,000. This is the standard salary for all senators;
- Book deals: Cruz has authored several books, including “A Time for Truth” and “One Vote Away,” which have contributed substantially to his income. These books often become bestsellers, generating significant royalties;
- Speaking engagements: As a seasoned politician, Cruz frequently speaks at political events, conferences, and academic institutions, earning fees for his appearances;
- Investments: Cruz actively participates in the stock market, which forms a significant part of his income.
Rundown of Cruz’s assets and investments
Here is a detailed rundown of Ted Cruz’s financial holdings:
Investments
Cruz holds a variety of investments, including stocks, mutual funds, and retirement accounts. Some notable investments include:
- Stocks: Cruz has invested in prominent companies like Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Amazon (NASDAQ: AMZN);
- Mutual funds: He holds significant amounts in diversified mutual funds, providing a balanced risk and return profile;
- Retirement accounts: Cruz contributes to retirement accounts such as IRAs and 401(k)s, securing his financial future.
Real estate
Cruz and his family reside in a luxurious home in Houston, Texas. The property, valued at approximately $2 million, forms a substantial part of his net worth. Additionally, Cruz owns another real estate property, a condominium in Washington, D.C.
Other assets
Cruz’s financial portfolio includes other assets such as:
- Life insurance policies: These policies provide financial security for his family;
- Savings accounts: Cruz maintains multiple savings accounts for liquidity and emergency funds;
- Vehicles: The family owns a few high-value vehicles, adding to their asset base.
Insider trading involvement
In recent years, Ted Cruz’s stock trading activities have raised a few eyebrows. Namely, Cruz’s frequent trading has led to questions about potential insider trading, although there is no concrete evidence proving any illegal activity.
Insider trading involves trading stocks based on non-public information, giving an unfair advantage. While Cruz’s trading activities are legal, the sheer volume and timing of his trades have sparked debate. Critics argue that as a senator with access to privileged information, Cruz’s trades warrant closer examination to ensure transparency and fairness.
Summary
Ted Cruz’s financial activities, especially his stock trading, place him under the spotlight of critics. While controversy surrounds his trading practices, his financial disclosures and net worth of between $2,069,034 and $4,510,000 place him high above some of his Senate colleagues, solidifying his status as one of Texas’ most prominent politicians and active stock traders.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
