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Ted Cruz’s Net Worth of $4 Million and the Way He Got There

Ted Cruz’s Net Worth and Salary: Ted Cruz is a junior United States Senator from Texas with a $4 million net worth. Ted Cruz is a prominent person in US politics and was the 2016 Republican Presidential Nominee’s runner-up. Although Ted Cruz began his career as a lawyer, he quickly drifted toward politics. Additionally, Ted Cruz taught at the University of Texas School of Law. As a Senator, he gets $174,000 each year.

Ted and his wife claimed their net worth to be between $2 and $5 million during their 2018 Senate campaign against Beto O’Rourke. Their fortune is comprised of equities, mutual funds, and an IRA set up by his former legal firm. They calculated their liabilities to be in the neighborhood of $1 million. Ted’s wife Heidi – whose income is unknown and was not disclosed – is quite likely the family breadwinner as a managing director at investment firm Goldman Sachs.

Childhood:

Rafael Edward Cruz was born in Calgary, Alberta, Canada on December 22, 1970. Ted was born in Canada as a result of his American mother and Cuban father co-founding an oil drilling company in Calgary at the time. Cruz’s parents had an on-again, off-again relationship following his birth, but split in 1997. Cruz is the son of his father’s first marriage and has two half-sisters.

Ted Cruz has been fascinated by economic theory and republican ideas since he was in high school. After graduating from high school, he attended Princeton and earned a Bachelor of Arts in public policy in 1992. Ted Cruz developed into a superb debater during his college years, receiving the 1992 US National Speaker of the Year award.

Ted Cruz attended Harvard after graduating from Princeton. He graduated cum laude once more in 1995, this time with a Juris Doctor.

Biography and Family

Rafael Edward “Ted” Cruz was born on December 22, 1970, at Calgary’s Foothills Medical Centre to Rafael and Eleanor Darragh Cruz. Ted’s mother was born in Wilmington, Delaware, while his father was born in Cuba and emigrated to the United States to pursue an education. Cruz’s father was granted political asylum in the United States, but he became a Canadian citizen in 1973 and a naturalized American citizen in 2005. It is critical to understand Cruz’s parents since many may doubt Cruz’s eligibility to run for president in the 2016 presidential election.

Eventually, a judge would determine that Cruz was an American because his mother was a citizen and his father had become a citizen of the country. Cruz abandoned his Canadian citizenship in 2013, three years before launching his presidential campaign.

Cruz’s mother is of Irish and Italian ancestry, but the story of Cruz’s father resonates strongly with many of the junior Senator’s supporters. Cruz’s father recounts being beaten by Fulgencio Batista’s agents for opposing the dictator’s dictatorship. The elder Cruz never returned to Cuba after being granted a visa to pursue school in the United States.

Cruz’s parents both worked in Calgary’s oil and gas industry, and the Cruz family stayed in the country for only three years. Cruz’s father returned to Texas in 1974, when he was just four years old. Mr. and Mrs. Cruz would eventually reunite and relocate the family to Houston. In 1997, the couple divorced. Ted’s mother remarried, and her surname has changed to Wilson.

Cruz has two half-sisters from his father’s earlier marriage to Ted’s mother.

Cruz adopted the moniker “Ted” when he was thirteen years old.

 

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Ted Cruz attended elementary and high school in Houston, Texas. He spent several years at Awty International, a public school. He then graduated as the class valedictorian from the private school, Second Baptist H.S., in 1988.

Cruz graduated from Princeton University with honors in 1992. He holds a Bachelor of Science in Public Policy. At two different national debate championships, he was a gifted speaker. He was voted National Speaker of the Year in 1992, and he continued to debate while attending Harvard Law School. Indeed, Ted Cruz is the name of one of Princeton’s rookie debate tournaments.

Cruz is best known for his 145-page senior thesis, which he wrote to complete his studies at Princeton. Clipping the Wings of Angels: The History and Theory of the United States Constitution’s Ninth and Tenth Amendments

Cruz attended Harvard Law School from 1992 to 1995. He earned a Juris Doctor degree from this school magna cum laude.

Cruz served as an editor of the Harvard Law Review and executive editor of the Harvard Journal of Law and Public Policy during his time at Harvard. Cruz will also launch the Harvard Latino Law Review, a new journal. Cruz was a John M. Olin Law and Economics Fellow. Alan Dershowitz, one of Cruz’s former teachers, described the young guy as “off-the-charts smart.”

Private Life

Ted Cruz married Heidi Nelson on May 27, 2001. Catherine and Caroline are the couple’s daughters. Cruz met Heidi while working for then-candidate George W. Bush’s 2000 presidential campaign. Heidi has also held positions in politics. She formerly worked for Condoleeza Rice during her tenure as a member of Bush 43’s Cabinet. Heidi has also worked in New York City as an investment banker.

The Cruz family resides in the River Oaks neighborhood of Houston, Texas.

Salary:

Ted Cruz earns $174,000 per year as a junior United States senator. As it turns out, Ted Cruz is not the family’s principal breadwinner. Heidi Cruz, Cruz’s wife, is a managing director at Goldman Sachs. Although her income has never been disclosed publicly (around $300,000 per year), it’s safe to assume she earns significantly more than Cruz as an investment banker.

Equities and Bonds:

According to a 2018 report, Ted and Heidi Cruz’s assets are virtually entirely invested in equities and bonds. Several of these, including shares in a BlackRock fund, is worth millions of dollars. Ted Cruz earned approximately $33,000 in dividends and interest alone in 2017. Ted Cruz also invests in mutual funds through his legal firm’s retirement plan.

 

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Politics:

Ted Cruz first encountered politics in 1999, when he joined George W. Bush’s administration as a domestic policy consultant during his presidential campaign. Cruz was appointed Associate Deputy Attorney General for the US Justice Department following Bush’s election victory. Ted Cruz served as Texas’s Solicitor General from 2003 to 2008. As Solicitor General, Ted Cruz argued numerous cases before the United States Supreme Court, ranging from Second Amendment issues to LGBT rights.

Ted Cruz won the 2012 US Senate election in Texas following a successful campaign. The triumph was dubbed an “upset,” because his opponent spent far more on his campaign. Ted Cruz sponsored 105 of his legislation during his tenure as a US Senator. He was also one of the legislators who contributed to the 2013 government shutdown, despite his subsequent denials. Cruz had few allies throughout his tenure as a US senator. He was critical of both Democrats and Republicans, with a special dislike for President Obama.

Cruz was generally expected to run for the Republican Presidential nomination in 2016 as a result of his vocal presence in the Senate. Polls also indicated that he would enjoy widespread support if he chose to do so. By 2016, he has officially declared his candidacy for President. He garnered 7.8 million votes, 12 states, and 559 delegates throughout the primaries. Additionally, he set a new record by raising $92 million. Eventually, he emerged as the contender with the best chance of defeating Trump, even though it was never going to happen.

Although Cruz originally criticized Trump following his campaign’s suspension, he eventually buried the hatchet and began speaking more kindly about the US president. Cruz became enraged with Trump during the 2016 presidential campaign as his adversary made personal attacks on Cruz’s wife and father. Ted Cruz narrowly defended his Texas Senate seat in a close election in 2018.

Debts:

Ted and Heidi Cruz are claimed to have “poured their life savings” into the politician’s 2012 Senate campaign. Ted Cruz borrowed $1.2 million from himself to finance the campaign. During Ted Cruz’s unsuccessful 2016 presidential campaign, a great deal of information concerning his financial condition was released.

Throughout the campaign, additional records revealed that he owed Goldman Sachs between $100,000 and $250,000. Astute observers assumed that this was due to a previous loan Cruz took out to finance his 2012 Senate race. Additionally, documents indicated that Ted and Heidi Cruz owed between $1 and $5 million on a mortgage.

Residential Real Estate:

Ted Cruz and his wife, Heidi, own property in Houston. Their home’s value is unknown, while the typical price of a property in Houston is roughly $300,000. Heidi Cruz previously lamented the fact that she and her husband were unable to afford a second home, even though this was their long-term aim. Additionally, she lamented the fact that she was forced to work 70-hour weeks at Goldman Sachs to support her family and husband.

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