Rafael Edward Cruz is an American politician and attorney. A member of the Republican party, Ted Cruz became the junior U.S. senator from Texas in 2013. The political commentator was the Texas Solicitor General for five years. From his legal and political career, Ted Cruz has accrued a net worth of $4 million.
Dive into Ted Cruz’s wealth! Learn about his earnings and investments. Understand how his political career shaped his net worth.
Who is Ted Cruz: A Comprehensive Background
Early Life and Education
Known as Ted Cruz, Rafael Edward Cruz is an American politician born in Alberta, Canada. The 52-year-old Senator was born on December 22, 1970. His parents are Eleanor Elizabeth Wilson and Rafael Cruz. Cruz began using the name Ted Cruz when he was 13.
Ted Cruz’s parents moved to Alberta in 1967, three years before Ted was born. They owned an oil firm that dealt in seismic data processing for oil drilling. He has always referred to his parents as mathematicians and computer programmers.
In 1974, Ted’s family had a falling out that caused his father to move to Texas, United States. They reconciled the same year and moved to Houston, Texas. They finally divorced in 1997. Cruz has two step-sisters from his father’s first marriage. One of the sisters, Miriam Ceferina Cruz, died of a drug overdose in 2011.
Education
Ted Cruz attended Awty International School, a junior high school in Houston, Texas. He started his school at Faith West Academy, a private high school near Katy, Texas. He then transferred to Second Baptist High School in Houston. He was a member of a Texas Group, then called The Free Market Education Foundation. It taught students the philosophies of economists such as Frédéric Bastiat.
Cruz graduated from Second Baptist High School as a valedictorian in 1988. He enrolled at Princeton University to study public policy. He was a member of the university’s debate society, the American Whig-Cliosophic Society. He participated in debate competitions at the university, winning two championships in 1992.
At Princeton, Cruz was a member of the Colonial Club. He wrote a 115-page investigative thesis for his final year. The thesis was titled “Clipping the Wings of Angels: The History and Theory Behind the Ninth and Tenth Amendments of the United States Constitution”. It investigated the separation of powers.
Ted Cruz graduated from Princeton University with a Bachelor of Arts cum laude. He then enrolled at Harvard University. At Harvard Law School, Cruz was the Harvard Latino Law Review’s founding editor. He was a primary editor of the school’s Law Review and an executive editor at the Harvard Journal of Law and Public Policy.
He earned his Juris Doctor from Harvard in 1995.
Career Beginnings: The Road to Politics
After college, Cruz worked as a clerk for Judge J. Michael Luttig of the United States Court of Appeal. He then clerked for Chief Justice William Rehnquist of the U.S. Supreme Court. After the Supreme Court, Cruz went into private practice under Cooper, Carvin & Rosenthal. The firm is now called Cooper & Kirk, PLLC. Cruz prepared the testimonies for President Bill Clinton’s Impeachment proceedings in 1998.
In 1999, Ted joined George W. Bush in his presidential campaign as a policy advisor. He advised Bush on civil and criminal justice matters, among other areas. In 2000, he helped bring together the legal team defending George Bush in the Bush v. Gore case.
He joined Bush in the White after winning the Bush v. Gore case. He was appointed Associate Deputy A.G. in the U.S. Justice Department. He also worked in the Federal Trade Commission as the director of policy planning.
In 2003, Ted Cruz became Texas Solicitor General. He was appointed by Texas Attorney General Greg Abbott. As Solicitor General, Ted Cruz argued nine cases before the U.S. Supreme Court, winning five. His nine appearances are the most by any Solicitor General in Texas’s history.
Cruz returned to private practice in 2008. He joined Morgan, Lewis & Bockius, representing corporate clients. At Morgan, Cruz won two record-setting cases in New Mexico. He won a $54 million personal injury award. The court had already tossed one of the cases.
The Great Political Path of Ted Cruz
In 2012, Ted Cruz ran a successful campaign to become the United States Senator for Texas. His victory was referred to as an upset. As a Senator, Ted Cruz presented several bills in the U.S. Senate, self-sponsoring 105.
Though he has always denied it, Cruz was also a key player in the 2013 federal government shutdown. He does not have very many allies in the Senate. He has always been quite critical of both the Democrats and Republicans. He particularly expressed a distaste for Democratic President Barack Obama.
Ted Cruz is quite outspoken in the U.S. Senate. This personality caused many to think of him as the best 2016 Republican presidential candidate. True to the assumptions, Cruz declared his presidential candidacy and began his campaigns for the White House.
During the Republican primaries, Cruz won 7.8 million votes, 12 states, 559 delegates, and set a record raising $92 million. He was the candidate with the better chance of defeating Republican Donald Trump. In May 2016, Cruz announced the suspension of his presidential campaign.
At first, he was critical of Donald Trump, but later came around and began speaking well of him. In 2018, Cruz narrowly retained his senatorial seat. He ran a close competition against republican Beto O’Rourke, winning the primaries in a 50.9 – 48.3.
Take a Look at Who is Ted Cruz? Conservative Republican Senator of Texas:
Ted Cruz’s Wealth Explained: Delving Into His Net Worth
A Detailed Breakdown of Cruz’s Net Worth
The Republican Senator has enjoyed a successful career in law and politics since the 1990s, building a substantial net worth of $4 million. He has earned top salaries in most of the positions he has held. As a Texas Senator, the Republican earns an annual salary of $174,000.
He worked in George W. Bush’s presidential campaign in 1999. After winning the Bush v. Gore case that challenged Bush’s election, Cruz worked in the incoming administration. Before returning to private practice, he worked as the Texas Solicitor General from 2003 to 2008.
The American attorney and political commentator has worked for huge law firms. Before his election to the United States Senate, Ted worked for Morgan, Lewis & Bockius, a law firm headquartered in Philadelphia.
In 2016, he competed with Donald Trump for the Republican nomination for presidential candidacy. After losing, he hated Trump for a while. However, he later became a huge public supporter of the one-term president.
Besides his state salary, Cruz’s net worth grows thanks to his investments and book royalties. His investment portfolio includes mutual funds and stocks in energy and oil corporations. He also has retirement plans with various law firms he worked for before the U.S. Senate.
Real Estate and Other Investments
Ted and his wife, Heidi Cruz, have a small real estate portfolio that does not significantly impact his net worth. The couple owns a $300,000 home in Houston, Texas. The substantial net worth of $4 million is also thanks to his wife’s position at Goldman Sachs. Heidi Cruz is the managing director of the investment bank.
Ted Cruz’s latest financial disclosure reports show assets ranging between $2 million and $5 million. These include stocks, mutual funds, retirement plans, and a loan Cruz took in 2012.
What Does Ted Cruz Do with His Wealth?
There is insufficient information to help us determine what Sen. Cruz does with his money. During the 2013 government shutdown, Cruz donated his salary to YES Prep. This is a Houston group of charter schools that help students from low-income families.
Besides that, Cruz spends his money and time with his family at their Houston home. He has two daughters, namely Caroline Cruz and Catherine Cruz. Though he bought the home in 2013 at approximately $300,000, it is now worth around $2 million.
Frequently Asked Questions about Ted Cruz’s Net Worth
What Is Ted Cruz’s Approval Rating in Texas?
The latest poll, May 2023, shows an increased approval rating of Sen. Cruz. His approval rating rose to 45% when Democrat Colin Allred announced his candidacy. He will be Cruz’s biggest competitor for the Senate seat in 2024.
Who Is Ted Cruz’s Wife?
Ted Cruz married Heidi Suzanne Cruz in 2001. The two have two daughters, Caroline Cruz and Catherine Cruz. Cruz’s wife is an investment banker at Goldman Sachs.
Who Is Ted Cruz’s Daughter?
Ted Cruz and his wife, Heidi Cruz, have two daughters, Caroline Cruz and Catherine Cruz.
Closing Thoughts on Ted Cruz’s Financial Status and Influence
Ted Cruz is one of the most outspoken United States Senators. He is an experienced attorney who worked both in the government and private practice. From his legal and political career, the Texas Senator has accumulated a substantial net worth of $4 million.
Heidi Cruz’s earnings as the Managing Director at Investment Bank, Goldman Sachs, have also influenced his net worth growth. Ted has two daughters, Caroline and Catherine Cruz. He has been a Senator for Texas since 2013.