Senator Tim Scott Net Worth (Updated 2026).

Senator Tim Scott, a prominent figure in the U.S. political landscape, began his career in the early 1990s as a small business owner in his home state of South Carolina. Born and raised in a single-parent household, Scott’s journey to the U.S. Senate is a testament to his perseverance and determination. He first entered politics in 1995, winning a seat on the Charleston County Council, where he served for two terms. In 2008, Scott was elected to the U.S. House of Representatives, becoming the first African American to serve South Carolina’s 1st congressional district since Reconstruction. His rise to national prominence began in 2012 when he was appointed by Governor Nikki Haley to fill the U.S. Senate seat vacated by Jim DeMint. Scott made history again as the first African American to serve a full term in the U.S. Senate representing South Carolina.

Senator Tim Scott’s Current Net Worth (2025)

As of 2025, Senator Tim Scott’s net worth is estimated to be around $10 million. This figure is based on the latest available information and includes his real estate holdings, investments, and Senate salary.

Career

Tim Scott began his political career in 2008, serving as a South Carolina Representative until 2011. He then served as the U.S. Representative for South Carolina’s 1st congressional district from 2011 to 2013. In 2013, he became the first African American to serve in the U.S. Senate from the South since Reconstruction, a position he still holds.

Other Ventures

Before politics, Scott was a successful businessman. He founded Tim Scott Allstate in 1995, which he sold in 2007. He also co-founded The Tim and Pat Scott Foundation, a non-profit focused on education and community development.

Assets

Scott’s assets include real estate in South Carolina valued at over $2 million. He also has significant investments in stocks and bonds, with a portfolio worth around $5 million. His Senate salary is $174,000 per year.

Annual Income

As a U.S. Senator, Tim Scott’s annual income is primarily derived from his Senate salary, which is $174,000. His other ventures and investments provide additional income, but the exact figures are not publicly available.

Frequently Asked Questions about  Senator Tim Scott

Frequently Asked Questions: Senator Tim Scott Net Worth

1. What is Senator Tim Scott’s net worth?

As of the latest estimates, Senator Tim Scott’s net worth is approximately $10 million.

2. How old is Senator Tim Scott?

Senator Tim Scott was born on September 19, 1965, making him 56 years old.

3. Where was Senator Tim Scott born?

Senator Tim Scott was born in North Charleston, South Carolina.

4. What is Senator Tim Scott’s political party?

Senator Tim Scott is a member of the Republican Party.

5. When did Senator Tim Scott become a U.S. Senator?

Senator Tim Scott was appointed to the U.S. Senate in 2013 and was elected to full terms in 2014, 2016, and 2022.

6. What is Senator Tim Scott’s educational background?

Senator Tim Scott graduated from Charleston Southern University with a degree in Political Science and later earned an MBA from the University of Charleston.

7. What was Senator Tim Scott’s occupation before politics?

Before entering politics, Senator Tim Scott was a businessman and real estate developer.

8. How many times has Senator Tim Scott run for office?

Senator Tim Scott has run for office multiple times, including for the South Carolina House of Representatives, the U.S. House of Representatives, and the U.S. Senate.

9. What are some of Senator Tim Scott’s notable achievements?

Some of Senator Tim Scott’s notable achievements include being the first African American to serve in both the House and Senate from South Carolina, and being the first African American to preside over a Senate trial.

10. What are Senator Tim Scott’s political views?

Senator Tim Scott is generally considered to be a conservative and has supported policies related to limited government, lower taxes, and stronger national defense. However, he has also been known to work across the aisle on issues such as criminal justice reform.