Alexandria Ocasio-Cortez is a 30-years old American politician. Born on the 13th of October 1989, she is a Democrat that stands out due to her social media presence and humanitarian service.
She is a member of the United States House of Representatives from New York's 14th district. Alexandria Ocasio-Cortez won the general election in November, 2018. That moment gave her national recognition.
She advocated a progressive platform during her campaign. This includes universal healthcare, low college tuitions, affordable housing and many more. These progressive platform later took the shape of;
· Abolishing U.S. Immigration and Customs Enforcement
· Free Public College and Trade School
As a former activist and part-time waitress, her decision to run for congress in 2018 raised eyebrows. Ocasio-Cortez's 2018 Democratic Party Midterm Election Primaries victory was a major upset. That led to the entire America asking questions and seeking answers; "who is AOC and what is her net worth…"
That brings us to the purpose of this article - what is Ocasio-Cortez's net worth?
First things first, we need to talk about AOC's early career life. Alexandria Ocasio-Cortez made headlines for being the youngest woman ever to become a member of the congress. So, it's important to have a knowledge about her career path to glory.
Ocasio-Cortez moved to Bronx after college. She worked as a waitress and bartender to assist her family. She then worked for National Hispanic Institute at some point. She later launched Brook Avenue Express (a publishing firm).
Alexandria Ocasio-Cortez developed interest in community service. Shortly after working as an organizer for Bernie Sander's 2016 presidential campaign. At the time, she visited several communities such as Michigan, Flint and North Dakota. Her aim was to help those communities affected by the pipeline and water crisis.
Her visit to these communities inspired her to do all she can for her community. This was enough to showcase her humanitarian attribute to the world around her. One day, she received a phone call from Brand New Congress. They were recruiting progressive candidates at the time, and that was the moment her political journey kicked off.
The general believe is that most congress men have access to wealth, power and social influence. So, to run a successful campaign, you must be in this social class. Alexandria Ocasio-Cortez situation was quite different though…
Ocasio-Cortez said she operated out of a paper grocery bag hidden behind the bar where she worked. At the time of her political campaign. She said that during an interview after the primary election.
This explains the fact she didn't have the resources like her opponent. But, she had the passion to push for change for the low and middle income earners. Her campaign success amazed millions of Americans. She defeated Joe Crowley, the Democratic Caucus Chair in the primary.
She didn't have the financial strength to beat her opponent but she decided to play a different ball game. By seeking grassroots mobilization rather than seeking donations from corporate bodies. Her political journey is an interesting story.
Let's take a look at the salaries of members of the United States Congress. So as to have an idea how much Ocasio-Cortez is earning.
Speaker of the House of Representatives
Majority and Minority Leader of the House of Representatives
Majority and Minority Leader of the Senate
President Pro Tempore of the Senate
Senator and House Representatives
Resident Commissioner from Puerto Rico
From the table above, it's clear to see that Alexandria Ocasio-Cortez earns $174,000 . She has been in office for over a year. This means her net worth must have increased compared to the time she assumed office early last year.
At the time, she claimed she had less than $7,000 in savings. A financial disclosure published by some news outlet few months later, revealed she had roughly $15,000 in savings.
Ocasio-Cortez understood the financial struggle of an average American. This is because she grew up in an average class American home. She was earning below $27,000 before she joined the congress and had a huge sum of college debts to pay.
Shortly after she won the election, she talked about her struggles to afford an apartment in Washington D.C. during an interview with New York Times. That led the media to research more about her net worth.
The director of communications for Ocasio-Cortez, Corbin Trent, talked about how the 2018 campaign took a toll on AOC's finances. He said, she had to dip into her savings and he can't give a definite figure about her account status at the time. Later in 2019 around early July, Ocasio-Cortez revealed she still has $19,000 student loan debt to pay.
According to CNBC statistics, an average American of AOC's age bracket has $2,000-$2,500 in savings. This is far off Ocasio-Cortez $7,000-$15,000 savings at the time she assumed office.
AOC's father who was an average business owner died in 2012. Her mother who is a house cleaner can only do little to improve her financial status while she was in college. That explains why Ocasio-Cortez had a huge student loan debt to pay by the time she graduated. An average millennial can boast of $24,200 in savings, while median millennials have roughly $2,450 in savings.
Setting aside emergency funds is very important in case of financial crisis such as job loss or unexpected costs. Ocasio-Cortez has $8,750-$30,000 put aside for this purpose, according to experts. So it's clear to see she's doing fine as compared to other millennials. Financial experts understands AOC should have well above $25,000 saved for retirement.
Ocasio-Cortez has a Charles Schwab investment account worth $1000-$15,000. She also has a National Hispanic Institute 401(K) plan that is worth a sum of $1000-$15,000 . So, the longer she holds a political office the better her financial status will be in few years.
When you consider her student loan debt of $19,000 and her proposed savings of $15,000 , you'll expert her net worth to be $0 at the term she became a rep. David Haas, a financial planner said he'll expect Ocasio-Cortez's savings to increase with her new role in the house. Despite the high standard of living in Washington, Alexandria Ocasio-Cortez shouldn't find it difficult to save a lot of money.
This brings us to the point where we get to show you what her current net worth is in the year 2022…
The average member of Congress is worth five times the net worth of an average American family. But Alexandria Ocasio-Cortez is different due to her status before she became a congress member.
Alexandria is an active member of the Democratic Socialists of America. With 6.4million followers on Twitter, she's an exceptional public figure.
As compared to her worth a year ago, her annual congress salary is $174,000 . And, a $3000 living expense credit, health insurance and retirements benefit has helped to shoot her worth up to that level. As we all know, she lives a modest life and her saving culture must have boosted her net worth by $88,000 .
Lots of congress members have a wealthy profile but she is an exception. She's a young woman of Puerto Rican Descent, who is from an average background. Despite her positive impact since she joined the congress, the focus on her net worth is a media distraction.
She has a unique perspective about wealth. She has talked several times about the need for wealth redistribution. AOC's 401(K), according to her financial disclosures, shows that she invested in "junk bonds". This is a risky cooperate investment. During her campaign, she made $6,200 even though her campaign raised over $1.9 million at the time. Despite her financial limitation, she's way better than most millennial.
As seen from financial disclosure report filed in April 2018, Ocasio-Cortez's income and assets is way below most members of the congress.
With a current net worth of $100 Thousand , AOC's financial status should improve in future. She has received a lot of attention due to her financial status as a congresswoman. But with time, she might be competing with her fellow congress members on the financial front.
To learn more about AOC, watch her top moments of 2019 on YouTube as below
Thanks for taking out time to read this article. You must have learnt a lot about Alexandria Ocasio-Cortez. Ensure you visit all the links shared in the article. And kindly drop your views about AOC's net worth in the comment box. We will appreciate it.
Alexandria Ocasio-Cortez net worth is approximately $100,000 in 2022.