Ted Cruz is an American politician who currently serves as a junior United States Senator for the state of Texas. He has an estimated net worth of $4 million. More information about how he achieved this fortune can be found below.
Cruz started his career as a lawyer, and this was an area where he had a lot of success. He graduated from Princeton University in 1992 and went on to graduate from Harvard Law School in 1995. His first few positions after finishing school were clerkships and he then went on to take a position in a private firm, Cooper, Carvin & Rosenthal, in 1997. He joined George W. Bush’s presidential campaign in 1999 and worked for Bush as a domestic policy advisor. He was also a member of the legal team during the recounts that took place during the 2000 presidential election. In 2003 he was appointed as Solicitor General of Texas. As this is a high ranking-position, it would have come with a generous salary. During his time in the role, he appeared before the Supreme Court nine times. This is the most appearances a practicing lawyer in Texas has ever made.
According to the Fiscal Times, he worked as a private appellate attorney from 2008 to 2012. This is quite a difficult area of law to practice because it requires a detailed understanding of all aspects of law to determine if there are grounds for an appeal, and how this can be argued in court. The fact that this is such a specialized area of law means that it is very well paid. The more successful a lawyer is, the higher the fee they can command. Ted Cruz was a very good lawyer in this area, and so it is likely that he was very well-paid. He represented many high-profile companies including Pfizer and Toyota.
After working as a lawyer for many years, he began to turn his attention to politics. Some of his legal work had already given him some experience in this area, particularly his work for the Bush administration and his role as Texas Solicitor General. He became Senator for Texas in 2012 and won re-election to this position in 2018.
It is possible that his net worth could be even higher if he had not decided to run for this position in the Senate in 2012. At the time, it was reported that he and his wife had used most of their savings to fund the campaign. He also ran to be the Republican presidential candidate in 2016 against President Donald Trump. This is another campaign which may have left him worse off financially. The salary that he earns as a senator would have gone some way to paying some of the money that was spent on these campaigns. At the moment it seems likely that he will continue with his political career, rather than returning to work as an attorney. This means any additions to his overall net worth will come from his role as Senator, and any other positions that he might take on. If he moves into a higher position in Congress, then this should come with an increase in salary.
Stocks and Bonds
According to Celebrity Net Worth, most of the assets that Cruz has are in the form of stocks and bonds. While this means that he may not be able to get access to cash immediately, it also means that his net worth could increase if these investments do well. A large percentage of these investments are in the oil and gas industries, which have historically tended to do well. Investments in securities should also give him a good return. He also has a retirement plan from his former law firm which he will be able to access when he is ready to retire. Retirement is something that may be a long way off yet as there is still a lot that he wants to achieve in his political career.
He has also invested some of the money he has earned in real estate. He and his wife have a home in Houston, although the value of this property has not been disclosed. If he has lived in this property for a number of years, then there is a chance that there will be a good amount of equity in the property, which will add to his net worth. The mortgage for this property does form part of his liabilities, but as the mortgage falls and the value of the property rises his net worth will increase. His wife has also mentioned that they would like to buy a second home at some point as an investment. This is not something that they have been able to achieve yet, but they hope to be able to do this at some point in the future. Having a second property that they would be able to rent out would increase their monthly income. When they come to sell the property they may also make a profit if the property has increased in value.
There is a graph on Open Secret which shows that Cruz’s net worth is higher than the average net worth of a United States Senator. One reason for this could be that some aspects of his finances are tied in with his wife. She is a managing director at Goldman Sachs, and this is a very well-paid position. Her salary is certainly likely to be higher than that of her husband. If they have joint assets, then this would increase the net worth of both parties. The wealth that he has accumulated is largely of his own making, with some contribution from his wife. His parents were both computer programmers, and while the family were comfortable, they had no real wealth to speak of. His father fled Cuba to the United States with less than $100 to his name, and it is testament to the hard work of the whole family that they are now in the position that they are.