If Mitt Romney wins the election, it will make him the second-wealthiest president in our nation’s history. Here’s a list of the richest presidents, ranked by 24/7 Wall Street according to their net worth in 2010 dollars.
10. John Fitzgerald Kennedy
- Net worth: $1 billion (never inherited his father’s fortune)
- In office: 1961 – 1963
- 35th president
Born into great wealth, Kennedy’s wife was an oil heiress. His father was one of the wealthiest men in America, as well as was the first chairman of the SEC. Almost all of JFK’s income and property came from a trust shared with other family members.
9. William Jefferson Clinton
- Net worth: $38 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. Clinton received a large advance for his autobiography. His wife, the current Secretary of State, also has earned money as an author.
8. Franklin Delano Roosevelt
- Net worth: $60 million
- In office: 1933 – 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 – 1933
- 31st president
An orphan, Hoover was raised by his uncle, a doctor. He made a fortune as a mining company executive. He had a very large 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 – 1969
- 36th president
Johnson’s father lost all of the family’s money when LBJ was a boy. Over time, he accumulated 1,500 acres in Blanco County, Tex., which included his home, called the “Texas White House.” He and his wife owned a radio and television station in Austin, Tex., and had a variety of other moderate holdings, including livestock and private aircraft.
5. James Madison
- Net worth: $101 million
- In office: 1809 – 1817
- 4th president
4. Andrew Jackson
- Net worth: $119 million
- In office: 1829 – 1837
- 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 – 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 bills. Roosevelt spent most of his adult years in public service. His 235-acre estate, Sagamore Hill, sits on some of the most valuable real estate on Long Island.
2. Thomas Jefferson
- Net worth: $212 million
- In office: 1801 – 1809
- 3rd president
Jefferson was left 3,000 acres and several dozen slaves by his father. Monticello, his 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 was mired in debt towards the end of his life.
1. George Washington
- Net worth: $525 million
- In office: 1789 – 1797
- 1st president
His 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 Washington, inherited significant property from her father. Washington made well more than subsequent presidents: his salary was 2 percent of the total U.S. budget in 1789.
Mitt’s money
As a result of his business career, by 2007, Romney and his wife had a net worth of between $190 and $250 million, most of it held in blind trusts since 2003. In 2012, it was estimated that he had amassed twice the net worth of the last eight presidents combined, and would rank among the four richest in American history if elected.
An additional blind trust existed in the name of the Romneys’ children and grandchildren that was valued at between $70 and $100 million as of 2007. The couple’s net worth remained in the same range as of 2011, and was still held in blind trusts. In 2010, Romney and his wife received $21.7 million in income, almost all of it from investments, of which about $3 million went to federal income taxes (a rate of 13.9 percent, based upon the beneficial rate accorded investment income by the U.S. tax code) and almost $3 million to charity, including $1.5 million to the LDS Church. Romney has always tithed to the church, including stock from Bain Capital holdings.
Not to worry though, Mitt is going to lose to Barack.
The Johnsons’ questionable business dealings turned into an issue in the 1964 election when the Republicans’ Barry Goldwater, a private pilot, said: “Austin was easy to find. I just looked for the only city in the United States with just one TV tower and flew toward it.” (The Johnsons’ TV station continued to have an inexplicable monopoly in Austin long after federal regulators had handed out second- and third-station licences in much smaller markets.)
Sure enough, a competing station was allow to start up the following year. But only one. It wasn’t until after Johnson left office that Austin had the three-way competition that smaller cities like Fargo had.