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The ten richest U.S. presidents - Yahoo Finance
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The ten richest U.S. presidents
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Former Secretary of State Hillary
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Clinton is the front-runner for the
2016 Democratic presidential ticket,
according to most political pundits.
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The presidential hopeful’s husband,
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former President Bill Clinton, has
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made millions on lucrative book deals
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and more than $100 million on the
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The book industry isn't dying,
it's thriving
speaking circuit. Secretary Clinton
has recently begun to earn that kind
of money as well.
Secretary Clinton received an estimated $14 million advance on her new book last
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year, and she has earned hundreds of thousands of dollars for each speaking
engagement, figures that rival her husband's. In all, the couple’s net worth is
estimated by 24/7 Wall St. to be $55 million, making it one of the wealthiest
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presidential estates in history.
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Four years ago, 24/7 Wall St. published “The Net worth of Every American President,
from Washington to Obama.” Each year, we have updated our figures to reflect the
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be president, especially after leaving office.
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Like last year, the only currently living president who is counted among of the
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earnings of the still-living presidents. One thing remains clear: these days, it pays to
wealthiest of all time is President Clinton.
President Barack Obama is not one of the richest presidents. The president receives
a salary of $400,000 a year as president, which, while generous, isn't even close to
today's top executives salaries. The President’s annual income has actually dropped
steadily since he entered office. In 2009, the President's adjusted gross income was
$5.5 million. That figure fell to less than $1 million in 2012. This is primarily due to a
drop-off in revenue from his prior book deals. 24/7 Wall St. estimates the President’s
net worth to be $7.5 million.
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The net worth of the presidents varies widely. George Washington’s estate was worth
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more than half a billion in today’s dollars. On the other hand, several presidents went
bankrupt.
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The ten richest U.S. presidents - Yahoo Finance
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The fortunes of America’s presidents
are often tied to the economy of their
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time. As the focus of the economy
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has changed, so has the way the
30 yr fixed
4.29%
4.27%
presidents made their money.
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4.29%
4.26%
It is not surprising then to find that the
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first few presidents — from
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Washington’s election to about 75
years later — were large landowners.
They generally made money from
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Former U.S. President Bill Clinton (R) and his w ife Hillary
attend the sw earing-in ceremony of Terry …
land, crops, and commodity
speculation. Of course, this left them highly vulnerable to poor crop yields, and they
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could lose most or all of their properties because of a few bad years.
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wants to
hand out
meteorites
to
By 1850, the financial history of the presidency entered a new era. Beginning with
Millard Fillmore, most presidents were lawyers who spent years in public service.
They rarely amassed large fortunes and their incomes often came almost entirely
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from their salaries.
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These American presidents were distinctly middle class and often retired without the
means to support themselves in anyway resembling the presidential lifestyle.
Buchanan, Lincoln, Johnson, Grant, Hayes, and Garfield had modest net worths
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when they died.
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At the end of the 19th century and beginning of the 20th, there was another significant
change to the economy. Large, professionally organized corporations in the oil,
mining, financial, and railroad sectors allowed individuals to amass large fortunes.
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The Kennedys were wealthy because
of the financial empire built by Joseph
Kennedy. Herbert Hoover made
millions of dollars as the owner of
mining companies. Indeed, since the
early 20th century, the fortunes of
many presidents, including Theodore
Roosevelt, Franklin D. Roosevelt,
John F. Kennedy, and both of the
Bushes were driven by inherited
wealth.
The net worth figures for the 10
wealthiest presidents are in 2010
dollars. Because several of the
FILE - This Jan. 11, 1962 file photo show s President John F.
Kennedy giving his State of the Union a …
presidents, particularly in the early
19th century, made and lost huge fortunes in a matter of a few years, the net worth of
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each president is for the peak time. The exception to the 2010 rule are the presidents
who are still living and have more recent earnings. In the case of each president, we
have taken into account hard assets such as land, estimated lifetime savings based
on work history, inheritance, and homes. Wages considered were earned for
services as varied as collector of customs at the Port of New York to royalties on
books, as well as ownership of companies and yields from family estates.
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This is 24/7 Wall St.’s list of the richest U.S. presidents.
10. John Fitzgerald Kennedy
> Net worth: $1 billion (never inherited his father’s fortune)
> In office: 1961 to 1963
> 35th president
Kennedy was born into wealth and married into it. His father was one of the wealthiest
men in America and the first chairman of the Securities and Exchange Commission.
His wife, too, was an oil heiress. Almost all of JFK’s income and property came from
a trust shared with other family members.
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The ten richest U.S. presidents - Yahoo Finance
9. William Jefferson Clinton
> Net Worth: $55 million
> In office: 1993 - 2001
> 42nd president
Unlike other presidents, Clinton did
not inherit any wealth and gained little
net worth during 20 plus years of
public service. After his time in the
White House, however, he earned a
substantial income as an author and
public speaker. In 2005, Clinton earned a $15 million advance on his book “My Life.”
Former Secretary Clinton's advance for her upcoming autobiography is expected to
be nearly as much. In 2011, the former president was paid $750,000 alone to speak in
Hong Kong for Ericsson. By 2012, the former president was estimated to have
earned over $100 million. Secretary Clinton has started contributing to the family
fortune since leaving office. It is reported that she earns more than $200,000 per
speech.
8. Franklin Delano Roosevelt
> Net worth: $60 million
> In office: 1933 to 1945
> 32nd president
Roosevelt’s wealth came through inheritance and marriage. He owned the 800-acre
Springwood estate, as well as properties in Georgia, Maine, and New York. In 1919,
his mother had to bail him out of financial difficulty. He spent most of his adult life in
public service. Before he was president, Roosevelt was appointed assistant
secretary of the Navy by President Wilson.
7. Herbert Clark Hoover
> Net worth: $75 million
> In office: 1929 to 1933
> 31st president
An orphan, Hoover was raised by his uncle, a doctor. Hoover made a fortune as a
mining company executive. He had a generous salary for 17 years and had extensive
holdings in mining companies. Hoover donated his presidential salary to charity. He
also owned “Hoover House” in Monterey, Calif.
6. Lyndon Baines Johnson
> Net worth: $98 million
> In office: 1963 to 1969
> 36th president
Johnson’s father lost all the family’s
money when LBJ was a boy. Over
time, the 36th president had
accumulated 1,500 acres in Blanco County, Texas, which included his home, called
the Texas White House. He and his wife owned a radio and television station in
Austin, Texas, and they had a variety of other moderate holdings, including livestock
and private aircraft.
5. James Madison
> Net worth: $101 million
> In office: 1809 to 1817
> 4th president
Madison was the largest landowner in Orange County, Virginia. His land holding
consisted of 5,000 acres and the Montpelier estate. He made significant wealth as
Secretary of State and president. Madison lost money at the end of his life due to the
steady financial collapse of his plantation.
4. Andrew Jackson
> Net worth: $119 million
> In office: 1829 to 1837
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The ten richest U.S. presidents - Yahoo Finance
> 7th president
While he was considered to be in touch with the average middle-class American,
Jackson quietly became one of the wealthiest presidents of the 1800s. “Old Hickory”
married into wealth and made money in the military. His homestead, The Hermitage,
included 1,050 acres of prime real estate. Over the course of his life, he owned as
many as 300 slaves. Jackson entered considerable debt later in life.
3. Theodore Roosevelt
> Net worth: $125 million
> In office: 1901 to 1909
> 26th president
Born to a prominent and wealthy family, Roosevelt received a sizable trust fund. He
lost most of his money on a ranching venture in the Dakotas and had to work as an
author to pay the bills. Roosevelt spent most of his adult years in public service. His
235-acre estate, Sagamore Hill, now sits on some of the most valuable real estate in
Long Island.
2. Thomas Jefferson
> Net worth: $212 million
> In office: 1801 to 1809
> 3rd president
Jefferson was left 3,000 acres and several dozen slaves by his father. Monticello,
Jefferson's home on a 5,000-acre plantation in Virginia, was one of the architectural
wonders of its time. He made considerable money in various political positions before
becoming president, but he was mired in debt towards the end of his life.
1. George Washington
> Net worth: $525 million
> In office: 1789 to 1797
> 1st president
Washington's Virginia plantation, Mount Vernon, consisted of five separate farms on
8,000 acres of prime farmland run by more than 300 slaves. His wife, Martha,
inherited significant property from her father. As president, Washington earned well
more than subsequent presidents: his salary was 2% of the total U.S. budget in 1789.
Want to see the Net worth of Every American President? Click here for the full report.
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