How Much is Ted Cruz Worth?

Texas Republican Is In the Congressional Millionaire Club

Ted Cruz
Republican U.S. Sen. Ted Cruz is worth more than $1 million, according to personal financial disclosures. Alex Wong/Getty Images News

Republican presidential hopeful Ted Cruz is worth an estimated $3.2 million, according to public records. The U.S. senator from Texas reported most of his assets in investments for the calendar year 2013 and at least $325,000 in liabilities, or debt.

Related Story: 5 Things to Know About Ted Cruz's Run for President

Though Cruz's net worth well exceeded that of the median household in the United States, it by no means made him a member of the top tier in Congress.

Cruz was ranked 144th among all members of the House and Senate who filed personal financial disclosures for the 2013 calendar year, according to Roll Call

A Center for Responsive Politics analysis ranked Cruz 47th among the U.S. Senate's 100 members in net worth. It estimated his net worth at being $3,171,518 for 2013. Federal officials are not obligated to disclose the the price value of their assets; they're only required to provide a range. The total value of Cruz's assets fall between $1,913,037 and $4,670,000, according to the nonprofit watchdog group. 

Comparison to Hillary Clinton and Barack Obama

If Cruz ends up winning the Republican presidential nomination for 2016, he will likely face former U.S. Sen. and onetime Secretary of State Hillary Clinton. She is far wealthier.

Related Story: Wealthiest Presidential Candidates 

Clinton is worth at least $5.2 million and as much as $25.5 million, according to personal financial disclosures she filed in 2012.

She is likely worth more than Obama himself. His net worth is somewhere between $2 million and $7 million, according to his most recent personal financial disclosures.

Ted Cruz's Wealth In the News

Cruz's wealth became the subject of discussion during in 2012 campaign for U.S. Senate when he and his wife, Heidi, dropped their entire savings of $1.2 million into that election.

 “Sweetheart, I’d like us to liquidate our entire net worth, liquid net worth, and put it into the campaign,” Cruz said, recounting his conversation for The New York Times in October 2013. “What astonished me, then and now, was Heidi within 60 seconds said, ‘Absolutely,’ with no hesitation."

Despite his status as a millionaire and his position in the wealthiest top-third of Congress, Cruz has been a vocal critic of growing gap between the richest and poorest Americans and bemoaned the fall of the middle class. Responding to Obama's State of the Union speech in 2015, he said:

"The facts are we're facing right now a divided America when it comes to the economy. It's true that the top one percent are doing great under Barack Obama. Today, the top one percent earn a higher share of our national income than any year since 1928. The sad reality is, with big government, under the Obama administration, the rich and powerful, those who walked the corridor of power in the Obama administration have gotten fat and happy. But working men and women across this country, we have the lowest labor force participation since 1978 the reason the unemployment rate keeps falling is millions of people keep dropping out of the work force all together."

How Did Ted Cruz Earn His Millions?

Before winning his Senate seat in 2013 he served in statewide office in Texas, as solicitor general. He served in that capacity from 2003 until May of 2008. During that time he also taught U.S. Supreme Court Litigation as an adjunct law professor of Law at the University of Texas School of Law.

From 2001 to 2003, Cruz worked as the director of the Office of Policy Planning at the Federal Trade Commission and as and associate deputy attorney general at the U.S. Department of Justice. He was in private practice before that.

Cruz's wife is a managing director at the investment firm Goldman Sachs.

Ted Cruz's Salary

As a member of the U.S. Senate, Cruz is paid a base salary of $174,000.

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Murse, Tom. "How Much is Ted Cruz Worth?" ThoughtCo, Aug. 23, 2016, thoughtco.com/ted-cruz-net-worth-3367566. Murse, Tom. (2016, August 23). How Much is Ted Cruz Worth? Retrieved from https://www.thoughtco.com/ted-cruz-net-worth-3367566 Murse, Tom. "How Much is Ted Cruz Worth?" ThoughtCo. https://www.thoughtco.com/ted-cruz-net-worth-3367566 (accessed January 24, 2018).