Politics

How Rich is Marco Rubio?

Name: Marco Antonio Rubio
Born: May 28, 1971
Occupation: Lawyer, Politician

Marco Rubio. Photo: United States Senate
Marco Rubio. Photo: United States Senate

Marco Rubio is the Cuban American junior senator from Florida. His parents immigrated to the United States from Cuba in 1956 and became naturalized citizens in 1975. His grandfather, Pedro Victor Garcia, initially came to the United States legally in 1956 as well, but returned to Cuba in 1959.  In 1962 he was ordered to be deported by an immigration judge, but immigration authorities allowed him to remain in the country.

The date of his parents immigration to the United States is controversial because Rubio had incorrectly claimed they moved to the United States in 1959 to escape the regime of Fidel Castro. That claim resonated with Florida voters, but did not prove to be true. When his parents left Cuba, Fulgencio Batista was still in power.

Rubio wrote for the Politico that the allegation he embellished the story for the sake of his career was an outlandish accusation and “an insult to the sacrifices my parents made to provide a better life for their children.”

Rubio earned his bachelor’s degree in political science from the University of Florida in 1993 and his law degree from the University of Miami in 1996. Rubio has claimed that his education resulted in $100,000 in student loans which he paid off in 2012.

While in law school, Rubio began working on political races including Senator Robert Dole’s unsuccessful 1996 presidential campaign.  He served as a city commissioner in West Miami briefly before being elected to the Florida House of Representatives in January, 2000. Rubio was appointed to the house Republican leadership two years later and in 2003 became the first Cuban American Speaker of the House in Florida.

In 2009 after incumbent Senator Mel Martinez resigned, Rubio announced via his website that he would run for Senate. The incumbent governor led the race when Rubio joined it, but Rubio soon outpaced the governor’s popularity, leading to the governor’s choice to run as an independent. Rubio won the three-way election with 49% of the vote. He was mentioned several times as a potential Republican presidential or vice presidential nominee in 2012, but said he would not run. In April, 2015, he announced his candidacy for the 2016 Republican presidential nomination.

Rubio’s financial condition has been subject to much discussion over the years, including questions over the foreclosure on a house he shared with a fellow member of the House of Representatives while serving as speaker of the house.

In 2012 financial disclosure documents, Rubio estimated his minimum net worth at a NEGATIVE $190,000 due to home loans. When he joined the Senate, Rubio owed more, but has since paid off his student loans.

How much is -$190,000?

Rubio’s debt means that even if every dime of his Senate salary for the year went to paying off his old bills, he would still owe the value of a mid-sized car.

 

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