Ted Cruz Net Worth 2022 – Salary, Income, Earnings

Ted Cruz Net Worth 

Ted Cruz has an estimated net worth of $4 million. Ted Cruz took office as the junior U.S. senator for Texas in 2013 and ran for the Republication nomination in the 2016 presidential election. He earns most of his income from his political career. 

Ted Cruz, a conservative politician, grew up in Houston, Texas, and attended Princeton University before attending Harvard Law School. Cruz worked as an adviser on George W. Bush’s presidential campaign in 2000 before becoming Texas’ solicitor general in 2003. He was elected to the United States Senate in 2012 with the Tea Party’s support and went on to orchestrate a government shutdown in opposition to Obamacare. Cruz was re-elected to the Senate in 2018 after losing the Republican presidential nomination to Donald Trump in 2016.

To calculate the net worth of Ted Cruz, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: Ted Cruz
Net Worth: $4 Million
Monthly Income: $15 Thousand
Annual Salary: $174 Thousand
Source of Wealth: Lawyer, Politician

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Early Life and Education

Rafael Edward Cruz was born in Calgary, Canada on December 22, 1970, but grew up primarily in Houston, Texas. Rafael, his father, immigrated to the United States from Cuba in the late 1950s. Eleanor, his mother, was born in the United States and met his father while studying at Rice University. Cruz’s parents divorced for a time, but they reconciled after Rafael discovered a new interest in religion.

Cruz displayed an early talent for public speaking. He enrolled in the Free Enterprise Institute’s after-school program, which introduced young people to free-market economics. The institute had formed a Constitution-focused youth group. Cruz joined the group, and he and his fellow Constitutional Corroborators gave speeches on related issues throughout Texas.

Cruz attended Princeton University after graduating as valedictorian of his class at Houston’s Second Baptist High School. He became an award-winning debater there. In professor Robert George, a well-known religious conservative, he also found a mentor.

Cruz continued his education at Harvard Law School after graduating from Princeton in 1992. There, he questioned the liberal ideals of one of his instructors, lawyer Alan Dershowitz. Cruz worked as a law clerk for several judges after law school, including Supreme Court Justice William Rehnquist from 1996 to 1997.

Government Posts to U.S. Senate

Cruz practiced law for a few years before entering politics, eventually serving as a policy adviser to George W. Bush’s presidential campaign in 2000. During the campaign, Cruz told The New Yorker, “I essentially had responsibility for all policy that touched on law.” He also represented Bush during the fight for a recount of Florida’s election results.

Cruz joined the Federal Trade Commission as director of the Office of Policy Planning in July 2001, after serving as an associate deputy attorney general at the Department of Justice.

During his tenure at the FTC, he was successful in defeating collective bargaining proposals between physicians and healthcare programs, as well as legislation aimed at limiting low-cost gasoline sales.

Cruz was appointed Texas solicitor general in 2003. During his five-year tenure, he argued eight cases before the United States Supreme Court, with his victories including a 2008 case in which he advocated for the preservation of the death penalty for a Mexican citizen convicted of raping and murdering two teenage girls.

Cruz then briefly returned to private practice before launching his own Senate campaign. He appeared to be the underdog when he faced fellow Republican and Texas Lieutenant Governor David Dewhurst. His ultra-conservatism, however, earned him the endorsement of leading Tea Party figures such as Sarah Palin and Rand Paul, who campaigned for him. Cruz finished second in the first round of voting to Dewhurst, but he won the run-off election.

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Government Shutdown

Cruz made a name for himself with his speeches and tactics after taking office in 2013. Following his 21-hour speech against President Barack Obama’s healthcare plan that year, he was instrumental in bringing about the government shutdown. Cruz attempted to persuade his colleagues to cut funding for the program while holding the Senate floor. He also used his time to read a story to his daughters and share passages from Atlas Shrugged by Ayn Rand, one of his favorite books.

Cruz’s actions enraged some of the party’s more seasoned “establishment” Republicans. Senator John McCain told The Huffington Post that Cruz, along with fellow ultraconservatives Rand Paul and Representative Justin Amash, were the “wacko birds” who received the most media attention. “I think it can be harmful if the American people believe those people reflect the views of the majority of Republicans,” McCain said, adding, “They don’t.”

2016 Presidential Campaign 

Cruz renounced his dual Canadian citizenship in 2014, but his eligibility to run for president was not jeopardized.

Cruz announced his presidential candidacy on Twitter in March 2015. He then addressed the faithful at Liberty University, a Christian college founded by Moral Majority leader Jerry Falwell. According to CBS News, “today, roughly half of born-again Christians aren’t voting.” “Instead, imagine millions of people of faith across America going to the polls and voting for our values.” His words struck a chord with many on the religious right, and his campaign received approximately $1 million in donations the day after his announcement.

Cruz is pro-life and believes in “marriage between a man and a woman” on social issues. He is anti-abortion and anti-same-sex marriage. “Imagine a federal government that works to defend the sanctity of human life and to uphold the sacrament of marriage, rather than a federal government that works to undermine our values,” he said in a speech announcing his presidential candidacy.

Cruz, the son of a Cuban immigrant, stated on his official website that he “celebrates legal immigration.” Cruz introduced legislation in 2014 to prevent President Obama from expanding amnesty and was a vocal critic of the Obama administration’s immigration policies. As a presidential candidate in 2016, he advocated for more “boots on the ground” to strengthen border security.

Cruz also advocated for the abolition of the IRS and the implementation of a flat tax system. Regarding climate change, he acknowledged that it exists, but he questioned the scientific evidence of its causes and impact presented by “global warming alarmists.”

In February 2016, the Texas senator won an important victory in his presidential campaign by defeating fellow Republican candidate Donald Trump in the Iowa caucuses. With the field narrowing, he named Carly Fiorina, the former CEO of Hewlett-Packard, as his running mate in April.

Cruz, however, suspended his campaign after losing the Indiana primary to Trump in May. “I have said from the beginning that I will continue as long as there is a viable path to victory,” Cruz told his supporters. “I’m sorry to say that path appears to have been closed tonight.”

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Controversy at the Republican Convention

Cruz delivered a divisive speech at the Republican National Convention in Cleveland, Ohio, on July 20, 2016, one day after Trump officially won the party’s presidential nomination. In his speech to the convention, Cruz congratulated Trump but did not endorse him, eliciting boos from the delegate audience and chants of “Vote for Trump!” and “Go Home!”

“If you love our country and our children as much as I do, stand, speak, and vote your conscience, vote for candidates up and down the ticket who you trust to defend our freedom and be faithful to the Constitution,” Cruz said, drawing jeers and chants of “Endorse Trump!” from the delegation from Trump’s home state of New York.

The next day, Cruz addressed delegates from his home state of Texas, many of whom were enraged by his refusal to support Trump. “This isn’t just a team sport,” Cruz said in defense of his position. “Either we stand for shared principles or we are worthless.”

Cruz finally endorsed his former rival on September 23, 2016, just days before Trump’s first presidential debate with Democratic opponent Hillary Clinton. “After many months of careful consideration, prayer, and searching my own conscience,” Cruz wrote on Facebook, “I have decided that on Election Day, I will vote for the Republican nominee, Donald Trump.”

Cruz wrote in his lengthy explanation for his endorsement, “Our country is in crisis.” Hillary Clinton is clearly unfit for office, and her policies would harm millions of Americans. And the only thing standing in her way is Donald Trump.”

“I am greatly honored by Senator Cruz’s endorsement,” Trump said in a statement to CNN. “We fought the battle, and he was a tough and brilliant adversary.” I am looking forward to working with him for many years to make America great again.”

2018 Reelection

Cruz returned to the Senate after his presidential bid ended, where he has served on the Committee on Foreign Relations and chaired the Subcommittees on the Constitution and Aviation and Space.

Cruz faced an unexpected Senate reelection challenge from Democratic Congressman Beto O’Rourke in 2018, with many polls showing the incumbent with a too-close-for-comfort lead. As a result, the Republican establishment rallied behind Cruz, and President Trump held a massive rally in his support in October. Cruz eventually received approximately 51% of the vote on Election Day in November to secure a second term in the Senate.

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Recent Years

After House Democrats launched impeachment proceedings against Trump in the fall of 2019, Cruz returned the favor by launching his Verdict With Ted Cruz podcast to emphasize that Trump acted well within his executive powers in seeking an investigation into Joe Biden’s son, Hunter, in Ukraine. According to The Washington Post, one week before Trump was acquitted in the Senate in February 2020, he thanked Cruz profusely for his assistance.

Cruz was quickly back in the news after it was revealed that he had interacted with a man who tested positive for the rapidly spreading coronavirus. The senator said he would stay in Texas for 14 days as part of his self-quarantine efforts.

Cruz made headlines in February 2021 when he traveled to Cancun, Mexico, during a weather disaster in Texas that left millions without power.

Further Reading

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