The Wealth of America’s Past Presidents

Only nine of America’s presidents have not been millionaires at one point during their lives. Most of the past presidents have also left large inheritances behind following their deaths. As reported by 24/7 Wall St., the wealth of a few of the nation’s leaders are below:

• George Washington—Washington had an estimated $525 million in today’s dollars after factoring in the cost of his land and slaves. He also received a large salary for 1789 (2% of the federal budget) which would equal $67.2 billion today.
• Thomas Jefferson—During his financial peak, Jefferson had $212 million in today’s dollars, but his estate was mired in debt at his death.
• Lyndon B. Johnson—Johnson created a fortune worth an estimated $98 million in today’s dollars thanks to his broadcasting investments, cattle business, and personal aviation.
• James Garfield—Garfield focused on public service during his life. He was more or less broke when he was assassinated at a railroad station in 1881.
• Chester Arthur—Arthur worked as an attorney and politician during his life, but he died with less than $1 million in assets.

See Bruce Watson, Money and Power: The Richest and Poorest U.S. Presidents, Daily Finance, Feb. 17, 2012. 

Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.