Marco Rubio’s net worth: From Florida legislator to secretary of state | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Marco Rubio was appointed the 72nd U.S. Secretary of State in January 2025, becoming fourth in line to succeed the president.

He’s been a career politician since the 90s — he worked on Bob Dole’s senate campaign, served as a West Miami city commissioner, sat on Florida’s state house of representatives, and served as a U.S. senator.

Yet, unlike most other members of President Trump’s Cabinet, Rubio doesn’t come from money, isn’t wealthy, and draws his primary paycheck from public service. Treasury Secretary Scott Bessent, on the other hand, for example, has a net worth of more than $500 million.

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Here’s how much Rubio has earned as a politician over the years and what his net worth is in 2025 now that he’s secretary of state in the Trump administration.

Making a career out of politics hasn’t made Marco Rubio rich, but as U.S. Secretary of State, he is fourth in line to succeed President Trump.

EVELYN HOCKSTEIN/Getty Images

What is Marco Rubio’s net worth in 2025?

Rubio actually has a negative net worth based on his financial disclosure to the U.S. Office of Government Ethics, released in August 2024. His listed assets — which included retirement accounts, savings, stocks, and bonds — were worth as much as $205,000. His listed liabilities (debts), on the other hand, totaled between $525,000 and $1,065,000.

Rubio and his wife own a home in West Miami, but his financial disclosure showed that he carried a mortgage of $500,001 to $1 million.

Still, he could have a net worth of around $1 million — perhaps more or less — based on the value of his home minus the mortgage. Property listing app Zillow showed that homes in the neighborhood recently sold for between half a million dollars and $2.4 million.

Rubio took on more than $150,000 in student loans, which he paid off in 2012.

How much does Marco Rubio make as a politician?

Rubio didn’t come from a wealthy family, and his income since graduating from law school has largely come from his work in public service.

As a member of the Florida House of Representatives, Rubio’s annual salary was around $28,000. As a U.S. Senator, his pay was bumped up to $174,000 and then to $176,000 in his last term served. He earned $20,784 as an adjunct professor and a senior fellow at Florida International University in 2024.

In 2012, the publisher Sentinel gave Rubio an $800,000 advance for his book, “An American Son: A Memoir,” and he reportedly went on to receive a total of $1.2 million in royalties.

As State Secretary, Rubio makes $250,600 a year.

Who is Marco Rubio?

Marco Rubio was born in Miami, Florida on May 28, 1971. His parents emigrated from Cuba to the U.S. in 1956 to escape the dictatorship of Fidel Castro, and they never returned.

Rubio spent his early years in Miami, then lived in Las Vegas for several years before returning to Miami. Rubio’s father, Mario, was a bartender, while his mother, Oriales, worked as a maid, cashier, and retail clerk as well as a stay-at-home mom.

He married his wife Jeanette — a former professional cheerleader — in 1998, and they live in Miami with their four children.

Education

Rubio graduated from South Miami Senior High School in 1989. He reportedly attended Tarkio College in Missouri on a football scholarship for one year before transferring to Santa Fe Community College. He transferred again to the University of Florida, where he graduated with a bachelor’s degree in political science in 1993. He then enrolled at the University of Miami School of Law, where he received his J.D., cum laude, in 1996.

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Career

Two years after graduating from law school, Rubio began work as a lawyer for the West Miami City Commission and stayed there until 2000. He then ran as a Republican and was elected to the Florida House of Representatives for the 111th district (Miami-Dade county), and he advocated tax cuts, among other initiatives. Rubio served as House majority leader from 2003 to 2006 and as speaker from 2006 to 2008.

In 2010, Rubio was elected to the U.S. Senate and made a run for the presidency in the 2016 election. He stepped down in his third term as senator to become Secretary of State in January 2025.

How does Marco Rubio spend his money?

Rubio grew up without wealth among his working-class parents, and he lives in what appears to be a modest home in Miami.

The New York Times reported in 2015 (when Rubio was making a run for the presidency) that Rubio had made what it described as a series of bad financial decisions in previous years. This included using personal credit cards to pay for his campaign, a low savings rate, cashing out a $68,000 retirement that incurred penalties, buying a luxury speedboat, leasing a pricey car, and selling a second home at a loss. Rubio reportedly has said that he has since learned to be more financially responsible.

He preferred to send his children to private school over public school and has set aside money for their college educations.