Tim Scott Net Worth (Updated 2025).
Tim Scott, a prominent figure in American politics, began his career in the South Carolina State House in 2009. He was elected as a Republican representative, marking the beginning of his journey in public service. Scott’s political rise was swift and notable, as he was later appointed to the U.S. Senate in 2013, following the resignation of Jim DeMint. This appointment made him the first African American from the South to serve in the Senate since the Reconstruction era.
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Tim Scott’s Current Net Worth (2025)
As of 2025, Tim Scott’s current net worth is estimated to be around $15 million, according to recent sources. This figure reflects his success in both his political career and entrepreneurial ventures.
Career
Tim Scott, born in 1965, is an American politician serving as the junior United States Senator from South Carolina since 2014. Prior to his Senate role, he served in the U.S. House of Representatives from 2011 to 2013. Scott is known for being the first African American to serve in the U.S. Senate while representing a southern state.
Other Ventures
Before his political career, Scott was a small business owner. He founded Tim Scott Allstate Insurance in 1995, which he later sold in 2007. He also served as the chairman of the Charleston County Republican Party from 2003 to 2008. Currently, he serves on the Senate Armed Services Committee and the Senate Banking, Housing, and Urban Affairs Committee.
Assets
Tim Scott’s assets include real estate holdings in South Carolina, primarily in Charleston and Richland counties. He also has investments in various financial markets. His primary residence is a home in Charleston, South Carolina, valued at around $500,000.
Annual Income
As a U.S. Senator, Tim Scott’s annual salary is $174,000, as mandated by the U.S. Constitution. This figure is subject to change based on cost-of-living adjustments. His income from previous business ventures and investments is not publicly disclosed.
Frequently Asked Questions about Tim Scott
1. What is Tim Scott’s net worth?
Tim Scott’s net worth is estimated to be $12 million.
2. How old is Tim Scott?
Tim Scott was born on September 19, 1965, making him 57 years old.
3. Where was Tim Scott born?
Tim Scott was born in North Charleston, South Carolina.
4. What is Tim Scott’s political affiliation?
Tim Scott is a member of the Republican Party.
5. What is Tim Scott’s current political position?
Tim Scott is the junior United States Senator from South Carolina.
6. When did Tim Scott start his political career?
Tim Scott was first elected to public office in 1995, when he was elected to the Charleston County Council.
7. Has Tim Scott ever served in the military?
No, Tim Scott has not served in the military.
8. What is Tim Scott’s educational background?
Tim Scott graduated from Charleston Southern University with a degree in Political Science.
9. What is Tim Scott’s marital status?
Tim Scott is married to Dawn Scott.
10. Does Tim Scott have any children?
Yes, Tim Scott has two children, Austin and Robert.
