Marco Rubio Net Worth, Politics and Financial Struggles

Marco Rubio net worth has been a topic of interest, especially given his financial struggles, including debt and mortgage issues.

Many know him as a seasoned American politician, serving as a U.S. Senator from Florida and previously as Florida House Speaker at just 34. He even ran for president in 2016 and was later nominated as U.S. Secretary of State.

This article explores his net worth, career milestones, and personal life, highlighting both the successes and setbacks in his financial and political journey.

What is Marco Rubio’s Net Worth?

Marco Rubio is a Republican politician and lawyer with a net worth of $400,000. He has served as Florida’s senior U.S. senator since 2011.

Before that, he was a member of the Florida House of Representatives from 2000 to 2008.

In 2016, he ran for the Republican presidential nomination but lost. Donald Trump later nominated him for Secretary of State during his second presidential term.

Rubio’s Financial Woes

Between 1998 and 2008, Marco Rubio earned $2.38 million from his law career and House salary. However, he saved very little of this income.

When he joined the Florida House in 2000, his reported net worth was zero. By 2009, his financial statement showed a negative net worth of $37,000, due to student debt and multiple mortgages.

At one point, he missed five months of mortgage payments on a property in Tallahassee, which nearly led to foreclosure. He eventually sold the home in 2015, taking an $18,000 loss.

In 2012, he received an $800,000 book advance for his biography. Afterward, he spent lavishly, including buying an $80,000 speedboat.

By 2018, his financial statement estimated his net worth had dropped to negative $1.3 million.

Early Life and Education

Marco Rubio was born on May 28, 1971, in Miami, Florida, to Cuban immigrants Oriales and Mario Rubio. His parents moved to the U.S. in 1956, before the Cuban Revolution.

He is the third of four children, with an older brother, Mario Jr., an older sister, Barbara, and a younger sister, Veronica.

During his childhood, Rubio lived in Las Vegas, where his father worked as a bartender and his mother as a housekeeper.

Back in Miami, he attended South Miami Senior High School and graduated in 1989.

He first studied at Tarkio College in Missouri for a year, then transferred to Santa Fe Community College in Florida.

Rubio later earned a BA in political science from the University of Florida in 1993 and a JD from the University of Miami School of Law in 1996.

Careers and Rise in Political Spheres

Marco Rubio interned for U.S. Representative Ileana Ros-Lehtinen while still in law school.

In 1998, two years after earning his law degree, he won a seat as a city commissioner for West Miami.

Florida House of Representatives

In 1999, Rubio ran in a special election for the 111th House District in Florida. He came in second in the Republican primary but won the runoff election and then defeated Democrat Anastasia Garcia.

He was reelected unopposed in 2000 and 2002 and won again in 2004 and 2006.

From 2006 to 2008, he served as House Speaker.

Teaching Career

After leaving the Florida Legislature in 2008, Rubio became an adjunct professor at Florida International University.

In 2011, after joining the U.S. Senate, he returned to teach Florida legislative politics.

U.S. Senate

In 2009, Rubio announced his run for the U.S. Senate, seeking the seat vacated by Mel Martínez.

He initially trailed Charlie Crist but later won the Republican nomination and defeated Democrat Kendrick Meek in the general election.

After suspending his 2016 presidential campaign, he ran for reelection to the Senate and won a second term.

In 2022, he defeated Democrat Val Demings to secure a third term.

Early in his Senate career, Rubio defended the U.S. embargo against Cuba and supported military action in Libya to overthrow Muammar Gaddafi.

He voted against the Budget Control Act of 2011, opposed expanding background checks for gun purchases, and rejected publishing the Senate Intelligence Committee’s CIA torture report.

In 2013, he was part of a bipartisan effort for immigration reform.

2016 Presidential Campaign

In 2014, Rubio announced his run for president in 2016. After losing the Florida primary, he suspended his campaign in March 2016.

Despite previously calling Donald Trump a con artist, he later endorsed him for president.

Political Views

As a conservative Republican, Rubio prioritizes defense spending and supported the 2003 Iraq invasion.

Personal Life

Marco Rubio is Catholic and attends Mass at the Church of the Little Flower in Coral Gables, Florida. He previously attended Christ Fellowship, a Southern Baptist Church in West Kendall, Florida.

In 1998, Rubio married Jeanette Dousdebes, a former bank teller and Miami Dolphins cheerleader, in a Catholic ceremony at Church of the Little Flower. They have four children and live in West Miami, Florida.

Marco Rubio Net Worth and Real Estate

In 2001, Marco Rubio earned $90,000, but his family spent too much money. They had to move in with his wife’s mother.

In 2003, Marco bought his mother-in-law’s house in West Miami for $175,000. Two years later, he purchased a new home in West Miami for $550,000.