Overview
Ted Cruz, a junior member of the United States Senate from Texas, with a net worth in the neighbourhood of $4 million. A prominent American politician, Ted Cruz was the Republican Party’s second-place finisher in the 2016 presidential race. Although Ted Cruz began his career as a lawyer, he quickly found himself drawn to the political arena. Ted Cruz was also a lecturer at the University of Texas Law School, where he taught constitutional law. He is paid $174,000 a year as a Senator.
Ted and his wife, who is also his campaign manager, estimated their combined wealth to be between $2 million and $5 million at the time of the 2018 Senate election. Stocks, mutual funds, and a retirement plan from his prior legal company make up their financial resources. At the very least, they thought that they had $1 million in debts. Ted’s wife Heidi, who works as a managing director at Goldman Sachs, is quite likely the family’s only income, despite the fact that her pay is unknown.
Early Life of Ted Cruz:
Rafael Edward Cruz was born in Calgary, Alberta, Canada, on December 22nd, 1970. Ted’s parents, an American mother and a Cuban father, ran an oil drilling company in Calgary when Ted was born there. Cruz’s parents had an on-and-off relationship after Cruz was born, but they separated in 1997 after a long marriage. As a result of his dad’s first marriage, Cruz is half-siblings with both of his half-sisters.
Ted Cruz has been interested in economics and republican beliefs since his high school days. After high school, he attended Princeton University and earned a Bachelor of Arts in public policy, which he received with honours in 1992. Ted Cruz honed his debating skills in college, when he won the US National Speaker of the Year award in 1992. Ted Cruz went to Harvard after Princeton. He earned his Juris Doctor in 1995, completing his education with another another cum laude degree.
Legal Career:
Ted Cruz worked as a legal clerk for the United States Court of Appeals from 1995 to 1996. After this, he became an attorney for a well-known legal firm, where he worked on matters involving the National Rifle Association, the impeachment trial of Bill Clinton, and other high-profile cases. Cruz returned to private practise in 2008, a year after he left his job as Solicitor General. Before being elected as the US Senator for the state of Texas in 2013, he worked as an attorney.
Politics:
Ted Cruz’s first foray into politics came in 1999, when he served as a domestic policy consultant to George W. Bush’s presidential campaign. The Justice Department promoted Cruz to the position of Associate Deputy Attorney General after Bush was elected president. Ted Cruz served as Texas’ Solicitor General from 2003 until 2008. To the US Supreme Court, Ted Cruz made several arguments as Solicitor General on issues ranging from the Second Amendment to LGBT rights.
Ted Cruz was elected to the US Senate in Texas in 2012 after a successful campaign. After spending so much money on his campaign, his opponent’s triumph was referred to as a “upset”. Ted Cruz sponsored 105 of his own legislation while serving as a US Senator. However, he has since contended that he wasn’t one of the legislators that pushed for the 2013 government shutdown. In the US Senate, Cruz had few friends. He was scathing in his criticism of both parties, but he had a special dislike for Obama.
Because of his outspokenness in the Senate, it was generally expected that Cruz would seek for the Republican nomination for president in 2016. Polls also indicated that if he wanted to do so, he would be well-supported. When the 2016 election came around, he had made it known that he would run for president. He received 7.8 million votes, was elected in 12 states, and received 559 delegates in the primary. Also, he set a new fundraising record when he raked in $92. Though he eventually emerged as Trump’s most likely opponent, it wasn’t meant to be.
However, after suspending his candidacy, Cruz was critical of Trump and began to speak more warmly of the US president. After Trump launched personal attacks on Cruz’s wife and father during the 2016 presidential campaign, Cruz grew enraged. Ted Cruz just held on to his Texas Senate seat in a close race in 2018.
Relationships:
Ted Cruz and Heidi Cruz have been married since 2001 and have three children together. In addition to their two girls, they have one son.
Salary:
Ted Cruz is paid $174,000 a year as a junior senator in the United States Senate. Ted Cruz is not the principal breadwinner in his family, it turns out. Heidi Cruz is a managing director at Goldman Sachs, where her husband, Ted Cruz, serves as CEO. According to estimates, she makes at least $300,000 per year as an investment banker, which is more than twice as much as her rival, Senator Ted Cruz.
Stocks and Bonds:
The majority of Ted and Heidi Cruz’s assets, according to a 2018 study, are held in equities and bonds. There are a few of them that are said to be valued millions of dollars, including a BlackRock fund. Ted Cruz reaped approximately $33,000 in dividends and interest in only one year, in 2017. Mutual funds and his legal firm’s retirement plan are other sources of income for Ted Cruz.
Debts:
For the Cruz family’s successful 2012 Senatorial campaign, Ted and Heidi Cruz are claimed to have “poured their life savings” into it. Ted Cruz took out a $1.2 million loan from himself to support the campaign. When Ted Cruz ran for president in 2016, several details regarding his personal finances were made public. New records revealed that he owed up to $250,000 to Goldman Sachs throughout the campaign. People who knew Cruz’s finances well guessed that his 2012 Senate campaign loan had something to do with this. Additionally, Ted and Heidi Cruz’s biggest debt was a $1 to $5 million mortgage, according to court records.
Real Estate:
In Houston, Ted and Heidi Cruz own a piece of real estate. Even though Houston’s typical home cost is approximately $300,000, it’s impossible to tell how much their residence is worth. Despite their long-term aim of owning a second house, Heidi Cruz previously grumbled that she and her husband couldn’t afford one. Additionally, she lamented the fact that she was forced to work 70-hour weeks at Goldman Sachs in order to provide for herself, her children, and her husband.
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