How Texas Governor Greg Abbott Made His Money

Mohit Oberoi, CFA - Author

Oct. 11 2021, Published 5:41 a.m. ET

Texas governor Greg Abbott has been in the news amid the border immigrant crisis. What’s his net worth, and how did he make his money?

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Abbott was born on Nov. 13, 1957, and since 2015, he has served as Texas's governor. He has been wheelchair-bound since 1984. In July 1984, while he was jogging, an oak tree on the path cracked and fell on his back. Since then, he has been paralyzed below the waist. He's the first wheelchair-bound governor of Texas and the third in the U.S.

Greg Abbott's political career

In 2020, Greg Abbott was named the “Best Governor in the Nation.” Before he was elected as the 48th governor of Texas in 2014, he was the 50th attorney general of Texas. He was initially elected in 2002 with 57 percent of votes and was re-elected with 60 percent and 64 percent votes in 2006 and 2010, respectively.

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Abbott is the longest-serving attorney general of Texas and is already in his second term as the Texas governor. He has been a Donald Trump supporter.

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Greg Abbott's net worth

Greg Abbott’s net worth is estimated to be $14 million, both from his professional career and $7.8 million from the lawsuit related to his 1984 accident. He's married to Cecilia Abbott, a granddaughter of immigrants from Mexico. The two married in 1981 and she became the first Hispanic first lady of Texas. The couple adopted a daughter, Audrey Abbott.

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The Mexican border crisis

In September 2021, Abbott wrote to Joe Biden to issue an emergency declaration over the migrant crisis at Texas’s borders. However, FEMA (Federal Emergency Management Agency) denied that request.

Now, Abbott has written another letter to Biden, asking him to reconsider the decision and give direct federal assistance to address the migrant crisis. “I have determined that the disaster caused by the overwhelming surge of individuals unlawfully crossing the Texas-Mexico border is of such severity that supplementary federal assistance is necessary to lessen the threat of disaster; save lives; and protect property, public health, and safety,” said Abbott in his letter.

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Abbott wants to build the wall on the Mexican border

Abbott has allocated a record $1 billion toward border security and wants to build a wall along the Mexican border. He also allocated $250 million as a downpayment for the border wall.

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Under Trump’s presidency, the U.S. saw its longest shutdown, It lasted for 35 days, between Dec. 22, 2018, and Jan. 25, 2019, as Trump insisted on funding for the border wall.

While many scoffed at Trump’s idea of a border wall, there's little denying that the continuous influx of illegal immigrants at the border is a crisis waiting for a solution.


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