![]() They often retired without the money to support themselves in a fashion anywhere close to the one they were accustomed to as presidents. From Fillmore to Garfield, these American presidents were distinctly middle class. They rarely amassed large fortunes, and their salaries were most often their main source of income. The sharp fluctuations in the fortunes of the first 14 presidents were the result of these economic times.īeginning with Millard Fillmore in 1850, most presidents were lawyers who spent years in public service. The crisis caused a multi-year period of deflation and depression. Poor wheat crops, a drop in cotton prices, and a collapsing land bubble created by speculation triggered the Panic of 1837. The value of the foreclosed properties was often low because land without a landowners meant land without crop yields. The immature banking system was forced to foreclose many farms. The Panic of 1819 was caused by the deep indebtedness of the federal government and a rapid drop in the price of cotton. Since there was no reliable national banking system and almost no liquidity in the value of private companies, land was the asset likely to provide the greatest yield, if the property yielded enough to support the costs of operating the farm or plantation.īecause there was no central banking system and no commodities regulatory framework, markets were subject to panics. Wealthy Americans occasionally lost all of their money through land speculation - leveraging the value of one piece of land to buy additional property. A president who owned hundreds or thousands of acres could lose most or all of his property after a few years of poor crop yields. For the first 75 years after Washington’s election, presidents generally made money on land, crops, and commodity speculation. The fortunes of American presidents are tied to the economy of their times. George Washington was worth over half a billion in today’s dollars, while several presidents went bankrupt. The net worth of the presidents varies widely. We have also taken into account royalties on books, along with ownership of companies and yields from family estates. In the case of each president we have taken into account hard assets such as land, estimated lifetime savings based on work history, inheritance, homes, and money paid for services, including such diverse incomes as salary as collector of customs at the Port of New York to Fortune 500 board memberships. Because a number of presidents, particularly in the early 19th century, made and lost huge fortunes in a matter of a few years, we only provided each president’s net worth at its peak. For comparison purposes, we provided net worth figures for each president in 2010 dollars. ![]() examined the finances of all 43 presidents. Bush amassed large fortunes throughout their lives, their net worth does not appear to have changed in recent years.Ģ4/7 Wall St. Bush and Clinton have made millions from book royalties and speaking fees. We have examined the net worth for the presidents who are still earning a significant income. The net worth of any of the presidents on this list who are no longer living cannot change, except as measured by inflation. He owned a single-family home in Springfield, Illinois.Įditor’s Note: This article was first published on May 17, 2010. He was born in a log cabin and served as an attorney for 17 years before becoming president. Our 16th president, Abraham Lincoln, was not one of America’s wealthiest - and any opportunity to earn money after his term in office was cut short. Read the Net Worth of the American Presidents. ![]() As president, Washington earned significantly more than his successors - his salary was 2% of the total 1789 U.S. His Virginia plantation, Mount Vernon, consisted of five separate farms on 8,000 acres of prime farmland. ![]() He was ranked third in completion percentage (56.60%), third in touchdown passes (35) and fifth in passing efficiency rating (127.79).George Washington, the nation’s first president, was also one of the wealthiest men to hold the office. He finished second in school history behind Eric Zeier in career passing yards (6,447), career pass attempts (853), career completions (483), career offensive plays (1,104), career total offense (7,053 yards) and consecutive pass attempts without an interception (170). While at the University of Georgia, Carter was 23-8 as the starting quarterback and then declared for the NFL Draft after his junior season. Additionally, from 1996 to 1999, he was in the Chicago Cubs minor league baseball organization. Outside the NFL, he also was a member of the Bossier–Shreveport Battle Wings, Kansas City Brigade and Abilene Ruff Riders. Quincy Carter joins the Football University Coaching Staff for the 2022 FBU Camp Season! He played college football at Georgia and for the National Football League teams Dallas Cowboys and New York Jets. ![]()
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