How rich is New Jersey senator Cory Booker; Cory Booker’s net worth revealed[2024]

Cory Booker has made a name for himself in American politics and is seen as a potential presidential candidate in the future. As such, many people wonder just how wealthy the New Jersey senator is—so let’s explore Cory Booker’s net worth.

Who is Cory Booker?

Cory Booker was born in 1969 and grew up in Harrington Park, New Jersey. He attended Stanford University, earning a bachelor’s and a master’s degree, followed by a Rhodes Scholarship to study at the University of Oxford. He then went on to earn his Juris Doctor (J.D.) degree from Yale Law School.

Booker began his political career as a Newark City Council member before becoming the Mayor of Newark from 2006 to 2013. He won a special election in 2013 to become the US Senator from New Jersey, a position he still holds.

Booker was born in Washington, D.C., to parents who were executives at IBM. The family later relocated to New Jersey. He attended Stanford University, where he studied political science (B.A., 1991) and sociology (M.A., 1992). Awarded a Rhodes scholarship, he went to the University of Oxford, where he received a bachelor’s degree in history (1994). Booker then attended Yale Law School, earning a doctorate in jurisprudence in 1997.

After working for the Urban Justice Center in New York City, Booker ran for a seat on the Newark City Council in 1998, and he surprised many by defeating a longtime incumbent. After assuming office, Booker sought to combat an epidemic of drug abuse, and he took up residence in one of Newark’s most crime-afflicted areas. In 2002 he ran for mayor of the city but was defeated; the race was the focus of the acclaimed documentary Street Fight (2005). A second bid, in 2006, however, was successful.

As mayor, he garnered national attention for initiatives on gun control and violence abatement, among other measures. After Frank Lautenberg died in 2013, a special election to fill his U.S. Senate seat was held, and Booker easily won the election.

As a senator, Booker became known for his efforts at bipartisan cooperation, although he often adopted liberal causes. He notably was a vocal supporter of same-sex marriage, and he called for an increase in the federal minimum wage. He also supported tax increases for the wealthy. Booker cosponsored legislation that reformed the criminal justice system, and the bill was signed into law in 2018. The following year Booker announced that he was running for the Democratic presidential nomination in 2020. However, he struggled for support in a crowded field of candidates, and in January 2020 he suspended his campaign.

Cory Booker’s net worth

Cory Booker’s net worth varies, depending on different sources. According to Celebrity Net Worth, his net worth is estimated to be around $3 million. Then again, Forbes estimated his net worth to be about $1.5 million back in 2019, and PolitiFact reported his net worth to be $807,503 in 2020. However, CAknowledge’s recent report takes this number much higher and suggests that Booker’s net worth is around $14 million.

How did Cory Booker make his money?

From what we were able to gather, Cory Booker has several income sources:

• Senate salary: As the Junior Senator from New Jersey, Cory Booker earns a yearly salary of $174,000;
• Book royalties: It’s reported that Booker earned over $1 million in royalties from his book “United”;
• Speaking engagements: The same source as above claims that he also earned well over $2 million from speaking engagements over the last two decades;
• Campaign contributions: Allegedly, Booker has accepted over $400,000 from the pharmaceutical industry during his political career.

Booker’s assets and investments

The Jersey Senator has made a series of investments and acquisitions that contribute to his net worth. His assets are rather well diversified, ranging from cash reserves and real estate properties to an investment portfolio and bank accounts. Here’s a quick rundown:

• Cash reserves: According to CAknowledge, Booker has cash reserves of over $5 million;
• Real estate and investment portfolio: The same source claims that he owns over 7 real estate properties, as well as an investment portfolio of 10 stocks with a combined value of $3 million;
• Bank accounts: GO Banking Rates reported back in 2019 that Booker has a Bank of America savings account with $100,001 to up to $250,000 in it, a Fidelity money market account worth between $250,001 and $500,000, and two Fidelity individual retirement accounts worth a combined $150,002 to $350,000;
• Retirement plans: Reports suggest the senator earns money from bank deposits and retirement plans.

Insider trading involvement

There isn’t any public record about Cory Booker being involved in insider trading. However, it’s worth noting that back in 2014, he made a series of stock trades, including shorting Meta Platforms (NASDAQ: META), Apple (NASDAQ: AAPL), and Amazon (NASDAQ: AMZN).

What are Cory Booker’s political successes?

• While not a policy achievement, Booker gained fame as mayor of Newark for saving a woman from a burning house, carrying her out of the building as it went up in flames.
• Booker gets mixed reviews on the enduring impact of his policies as mayor of Newark, but brought a lot of attention to the city and is often credited for attracting businesses and investment.
• Booker helped convince Facebook to pledge $100 million toward improving Newark’s schools (though the results of that donation have been debated).
• Booker is a national figure when it comes to criminal justice reform, and was instrumental garnering bipartisan support behind legislation aimed at reducing mass incarceration that was signed into law by President Donald Trump last year.

Where did Cory Booker poll best?

Based on the 12 polls conducted by Insider since late August, we can gather a sense of the geographic regions where candidates are overperforming when it comes to how satisfied voters would be if they were chosen as the presidential nominee. Though the first four primaries are in the Western Midwest, New England, the South Atlantic and Mountain regions, the four regions that allocate the bulk of the delegates to the Democratic National Convention are the South Atlantic (16%), Pacific (16%), Mid-Atlantic (16%) and Eastern Midwest (15%).

Voters in the East South were most satisfied with Booker as a candidate at a rate of 9.5 percentage points over other regions. He also does well in the West Midwest (+5.9 percentage points) and Mid-Atlantic (+3.0 percentage points). He polls worst in the East Midwest region (-1.8 percentage points) and Western South (-6.1 percentage points).

How much money did Cory Booker raise?

• Booker’s campaign said it raised $5 million over the course of February and March, and over $6.1 million in cash on hand.
• Booker raised $4.5 million in the second quarter of 2019, and $6 million in 2019’s third quarter, reporting $4.2 million in cash on hand. 

How was Cory Booker viewed by voters compared to the competition?

Insider has conducted a number of other polls to check in on how these candidates are perceived in comparison to one another. When we asked respondents to one poll to rank how far to the left or to the right they considered the candidates, Booker was generally considered to be one the third-most left-leaning candidates in the field.

Booker was among the more experienced candidates int the field by far when we asked respondents to rank the candidates based on how prepared they are for the rigors of the presidency given what they knew about their history of public service and experience with government. And when asked how likable or personable respondents perceived the candidates to be, Booker was in the top half og candidates.

Could Cory Booker have beat President Trump?

Referring back to Insider’s recurring poll, Cory Booker overall is believed to be a fairly ordinary candidate if weaker in a general election against Donald Trump compared to the whole field. Booker is just shy of the average when it comes to his perceived perform acne against Trump compared to the general Democratic average.

How did Democratic voters feel about Cory Booker’s qualifications?

Insider has conducted polling about how voters feel about candidate attributes or qualifications. We asked respondents about a list of possible qualifications and if they made them more likely or less likely to vote for a candidate for president.

For example, among respondents who said they’d vote in the Democratic primary, 19% said a candidate being a college professor made them likelier to support them, while 4% said it made them less likely to, for a +15% net favorability. We can then see how different candidates’ resumes stack up compared to those preferences.

Attributes perceived as most valuable include his released tax returns (+43%), position in the Senate (+40%), past as an activist (+28%), that he is multi-lingual (+25%), age 50 or younger (+23%), a Rhodes scholar (+12%) with an Ivy league education (+7%) and a lawyer (+3%).

Attributes considered to be a liability based on the preferences of self-reported Democratic voters include that he grew up wealthy (-42%).

More recently, an Insider poll found that while Booker is well-liked among Democratic primary voters, only 3% of voters pick Booker as their first choice in Morning Consult. His national average in Real Clear Politics’ polling average is 1.8%. 

What are Cory Booker’s policy positions?

• On healthcare:
  • Booker in 2017 signed on as a co-sponsor of Sen. Bernie Sanders’ Medicare for All Act, a plan to eliminate private insurance and provide universal healthcare to Americans via Medicare. 
  • The senator was criticized in 2017 by some Democrats for voting against a measure that would’ve allowed for cheaper drugs by importing them from Canada, but has since reversed his position.
  • Booker as a presidential candidate has offered somewhat confusing answers on healthcare. In early February, he said he would not do away with private healthcare altogether, which is a central aspect of the Medicare for All plan he co-sponsored in 2017.
  • Booker has since repeatedly signaled that he supports Medicare for All as part of his campaign platform. “We need Medicare for all,” he said in a tweet on March 21.
• On immigration:
  • Booker is a staunch proponent of comprehensive immigration reform. 
  • He supports the Obama-era “Deferred Action for Childhood Arrivals” (DACA) program, which protects from deportation young undocumented people who came to the US as children.
  • In July 2018, Booker was among a group of Senate Democrats who introduced the Keep Families Together Act, which aimed at keeping immigrant families together and preventing Homeland Security from separating children from their parents at the border.
  • Booker has been a vocal opponent of President Donald Trump’s immigration policies, describing them as “abhorrent” and standing in “stark contrast to America’s most fundamental ideals.”
• On climate change:
  • Booker supports the Green New Deal, a radical road map of future legislation to transition the US to 100% clean and renewable energy within a decade, in concert with federal investments in clean-energy jobs. 
  • “The hard truth is climate change has imperiled our planet — it’s going to take bold action now to save it including dramatic investment in green energy that will create the jobs of the future. We can do this,” Booker said in February.
  • Booker said during July’s Democratic debate in Detroit that climate change “must be the issue and the lens with which we view every issue.” He added that he wants to rejoin the Paris climate accord but also go much further to curb carbon emissions.
  • Booker in early September unveiled a $3 trillion plan to tackle climate change that would aim to make the US a 100 percent carbon neutral economy by 2045.
• On campaign finance:
  • Booker says he doesn’t want the support of a corporate super PAC, but one has been created in support of his campaign and he reportedly hasn’t explicitly spoken out against it. 
  • “My election will be run and powered by the people. That’s why we’re not taking corporate money, federal lobbyist money, pharma executive money,” Booker said in February.
  • Nearly 68% of Booker’s campaign funding between 2013 and 2018 came from large individual contributions of more than $200, according to OpenSecrets, a project of the Center for Responsive Politics. Almost 10% has come from corporate PACs.
  • Booker was the top recipient of Wall Street money in the 2014 election cycle. 
• On abortion:
  • Booker supports Roe v. Wade and a “woman’s right to choose” when it comes to abortion. 
  • Booker in 2017 co-sponsored legislation that would prohibit state governments from placing an array of restrictions on abortion access. 
• On LGBTQ rights:
  • Booker has been a vocal supporter of same-sex marriage for years and presided over the state of New Jersey’s first same-sex weddings as mayor of Newark. But he’s also admitted to having evolved on his views toward to LGBTQ community over time. 
  • Early on in his career as a senator, Booker co-sponsored the Employment Non-Discrimination Act, which barred workplace discrimination because of sexual orientation or gender identity.
  • Booker has been highly critical of Trump’s ban on transgender people from serving in the military. “Mr. President, trans military members have sacrificed far more than you ever have – or will,” Booker said in a July 2017 statement.
• On education:
  • Booker is somewhat of an outlier among Democrats due to his past support for both charter schools and private schools.
  • Booker co-sponsored the Debt Free College Act, which was reintroduced in March, that aims to provide states incentives via matching grants to increase investments in public higher education and provide students with debt-free college. The bill aims to address the student loan crisis, which Booker says “punishes” young people for “seeking an education.”
  • Booker in early October unveiled a plan to “end exploitation in sports,” including college athletes, and women in sports at various levels. The plan, in part, would allow college athletes to earn money for the use of their names and images. 
• On Supreme Court and congressional issues:
  • Booker has expressed support for eliminating the Electoral College.
  • Booker’s position on eliminating the Senate filibuster is unclear. He’s expressed concern over removing it, stating that GOP leadership “would have hurt people in my community” if the filibuster didn’t exist.
  • Booker has not outright supported expanding the number of justices on the Supreme Court, but did say, “I think I would like to start exploring a lot of options and we should have a national conversation. Term limits for Supreme Court justices might be one thing.”
  • Booker has expressed support for automatic voter registration for 18-year-olds.
  • Booker thinks Election Day should be a national holiday and has called for a new Voting Rights Act.

• On guns:
  • Booker is a strong proponent of stricter gun laws.
  • Booker is in favor of universal background checks and sponsored the Assault Weapons Ban of 2017, legislation to ban military-style assault weapons and high-capacity ammunition magazines.
  • “Gun violence is an epidemic in this country — we have a responsibility to take this seriously and pass legislation that will curb the violence and take care of survivors and their families,” Booker said in a tweet in late March. 
  • Booker pushed for immediate action to reduce gun violence after the August mass shootings in Texas and Ohio at the September Democratic debate. “I’m happy that people like Beto O’Rourke are showing such courage now and coming forward … but this is — what I’m sorry about, I’m sorry that it had to take issues coming to my neighborhood or personally affecting Beto to suddenly make us demand change,” Booker said. 
• On criminal justice reform:
  • Booker is perhaps best known for his work on criminal justice reform. 
  • Cory Booker won a big legislative victory in 2018 with the passage of the First Step Act, which he initially sponsored back in 2015, a bill that aims to reduce mass incarceration at the federal level. Trump signed it into law. 
  • The senator followed up the success of the First Step Act by introducing the Next Step Act in early March, which he said pushes for “bolder, more progressive criminal justice reform.” The expansive bill aims to reduce mandatory sentences for nonviolent drug offenses and reduce recidivism, among other goals.
  • Cory Booker has focused heavily on combatting police brutality as well as barriers former inmates face in gaining employment after they’re released.
  • Cory Booker supports the legalization of marijuana at the federal level and has introduced legislation to that effect.
  • During the fifth Democratic 2020 debate in Atlanta, Georgia, on November 20, Booker said he thought former Vice President Joe Biden “might have been high” for stating that he opposes legalizing marijuana because it could be a “gateway drug.”
  • Cory Booker supports enfranchising people with felony records, stating that laws that bar former prisoners from voting are “a way, I think, that poor people especially — low-income people are being stripped of their democratic power.”
  • Cory Booker in early April introduced a bill to research reparations for the descendants of slaves.
• On trade:
  • Booker has not been particularly outspoken on trade issues but did oppose giving former President Barack Obama fast-track trade authority in negotiations on the Trans-Pacific Partnership (TPP) in 2015.
  • Booker also once said trade deals like NAFTA, which Trump has often criticized, need to be “much more fair to US companies.”
• On foreign policy:
  • Booker sits on the Senate Committee on Foreign Relations. 
  • Booker recently voted in favor of a resolution to end US support for Saudi Arabia in Yemen, going against Trump on the issue.
  • Booker has joined many US lawmakers who’ve called for the US to reassess its relationship with Saudi Arabia following journalist Jamal Khashoggi’s killing.
  • The senator has called for a reexamination of the Authorization for Use of Military Force (AUMF), which was passed in the days after the 9/11 attacks and has given presidents broad authority to wage war against terrorism.
  • Booker has been critical of Trump’s abruptly-announced plans to withdraw US troops from Syria and Afghanistan, but in January voted against a resolution warning against these moves. 
  • Booker has described himself as a “staunch advocate for a strengthened relationship with Israel.”
  • Booker voted in favor of a $716 billion defense budget for 2019 — one of the biggest defense budgets in modern US history.
  • The New Jersey senator called for repairing relationships with key international allies and blasted Trump’s coziness with authoritarian leaders at the September Democratic debate. “We cannot go up against China alone. This is a president that has a better relationship with dictators like Duterte and Putin than he does with Merkel and Macron,” Booker said.
• On taxes:
  • Booker has not as of yet offered explicit economic plans regarding taxes as part of his 2020 campaign.
  • The senator does have a “baby bonds” plan to address wealth inequality, however, which would annually grant every native-born child in the US a set amount of money. 
  • “It would be a dramatic change in our country to have low-income people break out of generational poverty,” Booker said of the “baby bonds” plan in an interview with Vox. “We could rapidly bring security into those families’ lives, and that is really exciting to me.”
  • Booker in April unveiled a proposal to cut taxes for more than 150 million Americans. The “Rise Credit” plan would expand the earned income tax credit, which benefits low and middle-income workers. 

How much is Cory Booker worth?

Although there are various reports on Cory Booker’s net worth, it’s safe to assume that he’s pretty well off in terms of finances. Whether he has $3 million or $14 million to his name, New Jersey’s Junior Senator and potential future presidential candidate sure has a hefty sum of money on him, albeit nowhere near the very top.

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