Ethics Explorer A Guide to the Financial Interests of Elected Officials

U.S. Sen. Ted Cruz (R)

Industry
Lawyer, State Government, Federal Government
Education
B.A., Princeton University; J.D., Harvard University
Spouse
Heidi Suzanne
Committees
  • Commerce, Science and Transportation
  • Armed Services
  • Judiciary
  • Rules and Administration
Financial Statements
Tax Returns

Sources of Income

  • Cruz was elected to the U.S. Senate in 2012 after defeating Lt. Gov. David Dewhurst in the Republican primary. 

  • Cruz was a partner from 2008 to 2012 at the law firm Morgan, Lewis and Bockius LLP.

  • He was the Texas solicitor general — the state’s top appellate lawyer — from 2003 to 2008 and was an adjunct professor at the University of Texas School of Law from 2004 to 2009. 

  • He worked for the Bush/Cheney campaign and transition team from 1999 to 2001, and at the Federal Trade Commission from 2001 to 2003. 

  • In 1995, Cruz clerked for Judge J. Michael Luttig, who served on the U.S. Court of Appeals for the 4th Circuit. From 1996 to 1997 he clerked for then-Supreme Court Chief Justice William Rehnquist. Cruz worked for the Washington, D.C.-based law firm Cooper, Carvin and Rosenthal from 1997 to 1999. 

  • Cruz’s wife, Heidi, is the managing director at Goldman Sachs Houston. She previously worked in the George W. Bush White House as the director of the Western Hemisphere for the National Security Council. She previously was an investment banker at Merrill Lynch and J.P. Morgan.

     

  • Cruz owns between $50,000 and $100,000 worth of stock in each of the following companies: Chevron, Exxon, Enterprise Products Partners and Oneok.

Property

  • Condo in Washington, D.C., valued at $293,630

  • Condo in Houston valued at $618,648

Analysis

  • During his run for U.S. Senate in 2012, Cruz’s campaign failed to report to the FEC a loan for up to $500,000 from Goldman Sachs, where his wife works. His campaign called the error — revealed during his 2016 presidential bid — “inadvertent" and vowed to file updated reports. The revelation about the unreported loan was controversial because Cruz had said he and his wife liquidated their own net worth to fund the run. 

  • In that hotly contested race, Cruz's opponent David Dewhurst suggested that his rival put the interests of China above those of the United States because Cruz had performed legal work for Shandong Linglong, a Chinese company in a patent battle with an American inventor. The Dewhurst camp accused Cruz of being a lead counsel and legal mercenary who helped a “Chinese conglomerate kill American jobs.” Cruz’s firm was retained by the company, and Cruz was called on to assist in the case. But he was not among the lawyers arguing the case and did not appear in court. He has taken the lead on other international patent infringement cases, successfully arguing a $5 million intellectual theft case before the Supreme Court against a Chinese company in 2011.