Some of the first American presidents were also the richest when they came to power. In modern times, American presidents typically amass most of their wealth through media deals and appearance fees after leaving office.
Former President TrumpHowever, according to Forbes, he is among the richest Americans to ever serve as president of the United States, with an estimated total fortune of $3.7 billion at the time of his inauguration in 2016. However, he is an outlier, according to presidential historian Barbara A . Perry, who notes that most “post-Civil War presidents were not wealthy businessmen, but they did not come from money.”
As examples, she cited Bill Clinton, the 42nd U.S. president, and Barack Obama, the 44th president, neither of whom came from money or had much personal wealth when they came to power.
“They came from nowhere. They are not elite,” she told CBS MoneyWatch. “They made their own way in the world through scientific prowess and came to the White House with very little money in their pockets.” However, they have all made tens of millions since leaving office.
Here’s how the richest former US presidents rank in terms of their maximum personal wealth, according to a report from 24/7 Wall St. The report calculates the individual net worth of former presidents based on their income, real estate, net worth their spouses and their property. legacies. All figures have been adjusted for inflation.
Richest American Presidents Ever
1. Donald J. Trump ($3.7 billion)
According to Forbes, former President Trump’s current net worth is even higher today, at $5.5 billion. It includes his income from real estate investments and investments, plus his stake in Trump Media & Technology Group, which has already suffered some wild fluctuations in market value this month.
2.John F Kennedy ($1.3 billion)
Most of Kennedy’s wealth was inherited, presidential historian Douglas Brinkley told CBS MoneyWatch. His father, Joe, made a large fortune as an investor.
3. George Washington ($708.5 million)
Like many early presidents, George Washington was a wealthy landowner. “Our first president was rich, he owned a lot of real estate,” Brinkley said. “In his day, George Washington was extremely wealthy,” he added.
According to Perry, other qualities also distinguish the country’s founder. “In Washington’s case, he was very smart about farming and crop rotation. He grew tobacco and corn and used corn to make whiskey, which is where much of his wealth came from,” she said.
4. Thomas Jefferson ($285.8 million)
Thomas Jefferson’s wealth was inherited from his father through land.
5. Theodore Roosevelt ($168.6 million)
Theodore Roosevelt also came from a wealthy family and inherited money.
6. Andrew Jackson ($160.1 million)
Andrew Jackson was a wealthy plantation owner. According to the White House Historical Association, slavery was the main source of the seventh president’s personal wealth.
7. James Madison ($136.7 million)
James Madison was born to wealthy, plantation-owning parents.
8. Lyndon B. Johnson ($131.9 million)
The main source of Lyndon B. Johnson’s wealth came from his wife, Lady Bird Johnson’s family, who owned a television and radio station company.
9. Herbert Hoover ($100.1 million)
Herbert Hoover became a multimillionaire through his ownership of Burmese silver mines and by earning royalties from the sale of a textbook on mining engineering, according to the University of Virginia’s Miller Center.
10. Bill Clinton ($91.6 million)
Bill Clinton became wealthy when he left the White House in 2001, at the end of his second term.
“Bill Clinton came from nowhere and didn’t make much money while in office,” Brinkley said. “He didn’t have a home for the eight years he was president,” Brinkley said. “The windfall came from the ex-presidency.”
