August 13

Greg Abbott Net Worth

What is Greg Abbott’s net worth?

Introduction

Greg Abbott is the Governor of Texas. He has enjoyed a successful legal and political career since the late eighties, and he has served in various roles and held different offices.

He has accumulated most of his net worth from his salaried roles and private investments.

Below, we look at Greg Abbott’s net worth in detail and explore how the Texan Governor has made his money. 

The Origin Story

Greg Abbott was born on November 13, 1957, in Wichita Falls, Texas.

He is of English descent, and his father was a stockbroker and insurance agent.

He actually grew up in the East Texas city of Longview before completing high school in Duncanville. 

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Wife

He is a practicing Roman Catholic and has been married to Cecilia Phalen Abbott since 1981.

Greg Abbott and wife Cecilia Phalen AbbottGreg Abbott and wife Cecilia Phalen Abbott
@Getty

His wife became the first Latina to be the First Lady of Texas, and they have one adopted daughter together. 

In July 1984, Abbott was paralyzed below the waist after an oak tree fell on him while he was jogging.

He underwent extensive surgery and had two steel rods implanted in his spine. 

Following the incident, Abbott successfully sued the homeowner and a tree service company, which provides him with an insurance payment every three years (due to expire in 2022) and a monthly fee for life. 

It’s thought that he gets $14,000 per month from this payout, and his three-year lump sum payment is $400,000. The payments made to him are tax-free.

He says that he has used the money to pay almost thirty years of medical expenses. 

At the time of writing, Abbott is campaigning for re-election to the office of Texas State Governor. 

Greg Abbott – Net Worth

As an American politician, former attorney, and jurist, Greg Abbott has enjoyed a long and distinguished career that has enabled him to amass an impressive net worth.

@Getty@Getty
@Getty

He is a Republican and served as the 50th Attorney General of Texas between 2002 and 2015. 

Studying at the University of Texas at Austin, Abbott earned a bachelor’s in Business Administration before earning his Juris Doctor degree from Vanderbilt University Law School in Nashville, Tennessee. 

This propelled Abbott into a career as a lawyer, and he landed his first job in private practice at Butler and Binion.

He worked as a lawyer between 1984 and 1992 before starting his career as a judge in Houston, Texas. 

His first role as a judge was in the 129th District Court, a role that he held for three years.

He was then appointed by soon-to-be-president George Bush to a role on the Texas Supreme Court.

Abbott held this role until 2001 before returning to the private sector and working for Bracewell & Giuliani.  

Judges in the United States are typically paid in excess of $200,000, but during the time of Abbott’s service, this figure was likely to be slightly lower.

Still, he was earning good money by sitting on the bench in his native Texas. 

In 2002, Abbott was sworn in as the Attorney General of Texas. This is a role that Abbott served with distinction for thirteen years, and he has maintained a good approval rating during his time in office. 

We know that his office as Attorney General is ranked as a Level 1 position in the Executive Schedule, meaning he earned an annual salary somewhere in the region of $200,000 – $220,000 per year for serving his state and country. 

During his tenure as AG, Abbott was involved in a range of high-profile cases, including his opposition to same-sex marriage.

@Getty@Getty
@Getty

In 2015, Abbott took office as the Governor of Texas, and it is a role that he has held for two terms. He is seeking re-election in 2022 and would become only the fifth Texan to serve three consecutive terms. 

Abbott is described as a conservative and takes a hard line on many divisive issues. 

Although there isn’t a standard salary for the role of State Governor, it was revealed in 2018 that Greg Abbott’s annual salary for his position in Texas was $153,750.

The fact that he has held two prominent government roles with six-figure salaries highlights just how much Abbott has been able to earn throughout his career in public service. 

When you consider these earnings alongside his various roles in private practice, it’s easy to understand why Abbott is regarded as among the wealthiest governors in the United States. 

Thanks to his roles as a lawyer, judge, and American politician, Texas State Governor Greg Abbott has an estimated net worth of $1.5 million.

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