- Beto O’Rourke raised more than $6 million within 24 hours of announcing his run for president.
- O’Rourke’s salary as a congressman was $174,000, but his rumored net worth is just under $9 million as of 2015.
- He lost against Sen. Ted Cruz (R-TX) in his pursuit of a Senate seat in the 2018 midterms.
Despite suffering a close-call defeat at the hands of incumbent Sen. Ted Cruz (R-TX) during the 2018 midterms, Beto O’Rourke announced his bid for the 2020 presidential election on March 14. Twenty-four hours later, the former congressman had raised $6.1 million for his campaign, CNBC reported. For comparison, Sen. Bernie Sanders (D-VT), raised just under $6 million within 24 hours of announcing his candidacy. O’Rourke might have a penchant for fundraising, but it’s worth remembering he also raised millions in the 2018 midterms and still lost to Cruz.
O’Rourke enjoyed a good amount of popularity during the midterms, but also faced scrutiny due to his considerable personal wealth. GOBankingRates took a deeper dive into O’Rourke’s life and the former congressman’s — and now presidential hopeful’s — personal finances. Compare his wealth to Cruz’s.
Birthdate: Sept. 26, 1972
Net worth: $9 million
Primary source of income: Real estate
Career highlight: U.S. congressman, 2013-2019
Beto O’Rourke’s Net Worth: About $9 Million
Before his unusual nickname caught the attention of the country (his full name is Robert Francis O’Rourke), the fourth-generation Texan graduated from Columbia University and returned to his hometown of El Paso, Texas, to launch a technology company.
O’Rourke’s salary as a public servant in Congress is $174,000. However, O’Rourke’s rumored fortune stood at $8.95 million as of 2015, positioning him at the time as the 52nd wealthiest member of the House, according to OpenSecrets.org.
O’Rourke and Cruz differed politically, but personally the two made major financial leaps in marrying women whose family fortunes far exceeded their own. O’Rourke’s wife, Amy Sanders, is the daughter of a Texas real estate tycoon and lives on a trust fund reportedly worth between $1 million and $5 million, according to The Texas Tribune. Cruz’s wife, Heidi, is a managing director at Goldman Sachs.
O’Rourke and his wife’s assets were listed as between $3.5 million and $16 million. The exact total is unknown, but their wealth comes from real estate holdings, O’Rourke’s company and his wife’s trust fund, according to financial disclosure forms and reporting by The Texas Tribune.
O’Rourke didn’t make any personal contributions to finance his Senate bid. His run survived on donations that totaled over $69 million, according to OpenSecrets.org. Among the top contributions were six-figure donations from the University of Texas; Google’s parent company, Alphabet; and J Street, a nonprofit advocacy group committed to supporting Israel.
Keep reading to learn how fellow 2020 candidate Cory Booker became a millionaire through politics and investing.
More on Net Worth and Politicians
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- A Look at Sen. Kamala Harris’ Finances After Announcing Her Presidential Bid
- Bernie Sanders Leads Presidential Candidates in Fundraising With $10 Million
- Watch: The Real Cost to Live Like Melania Trump
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