Many people say the president is overpaid for what they do. Perhaps it’s true. Perhaps it’s not. Nevertheless, some presidents are richer than others, but who are the richest presidents we’ve ever had?
We recently covered the poorest presidents in history. This caused me to wonder which are the richest presidents to have ever sat in the White House.
There are several ways that you could measure the presidents’ net worths: before and after their presidency and/or when their net worths were at their peak.
All of these presidents’ net worths are adjusted for inflation (as of the time of writing).
15. James Monroe
Today, James Monroe is generally considered one of the best presidents in US history, even if the masses have forgotten his name. However, those who do know him, often forget that he was one of the richest presidents!
James Monroe was the eldest son, born on a large plantation to moderately successful plantation owner, Spencer Monroe. As with many other plantation owners, Spencer Monroe was fairly well off.
Upon his father’s death, James inherited his father’s plantation, which he operated until 1783. Here, he sold the plantation in order to enter into politics, which eventually landed him into the presidency.
James married Elizabeth Kortright in February 1786. Kortright was the daughter of Laurence Kortright, a former British Army officer-turned American merchant. He provided James with a large dowry, which he used to buy another plantation.
Owing mostly to his plantation holdings, James Monroe’s net worth is estimated at around $30 million.
14. George W. Bush
George W. Bush’s presidency is mired in controversy, often earning him the epitaph as one of the worst presidents in history. Nevertheless, he was among the richest presidents both before and after he was elected.
George W. Bush was the son of former President George H. W. Bush. Bush Sr. had made his fortune as a oil tycoon, establishing several oil refining companies and selling them off for huge sums of money.
Bush Jr. was similar to his father in this regard. In 1977, Bush Jr. established his own oil refinery, Arbusto Energy, which he later merged with Spectrum 7, which Bush Jr. became the chairman of.
In April 1989, Bush led a group of investors that bought the Texas Rangers sports team. He later sold his stake in the team in 1998 for $15 million.
Upon his father’s death in 2018, much of his estate was left to his children, including George W. Bush.
All in all, due mostly to his inheritance and business holdings, George W. Bush’s net worth is estimated at about $40 million.
13. Barack Obama
When Barack Obama entered office, he did so as a typical “man of the people” president. This included his net worth, as it was well under the $1 million threshold.
Regardless, Obama served his two terms in office and passed his office on to his successor, Donald Trump. With this, both Barack and his wife, Michelle, sat down to write their memoirs.
It’s reported that the Obamas have signed a $65 million book advance for their books. However, without the Obamas releasing their tax returns, it is unlikely that we’ll know the full amount for some years.
After leaving office, Obama bought two houses, one in Washington, DC. and one in Massachusetts. The one in Hawaii was bought for $8.1 million, whilst the one in Massachusetts was bought for 11.75 million.
All in al, Barack Obama’s net worth is estimated to be around the $40 million mark, although this is likely to increase in the coming years.
12. John Tyler
John Tyler is remembered by historians and the American public alike as one of the worst presidents we’ve ever had. Regardless of that, Tyler was incredibly wealthy, both before and after office.
As with many other politicians of his day, John Tyler was born into one of Virginia’s First Families (the richest families in Virginia). His father, was a well respected tobacco plantation owner.
His father’s plantation was one of the largest in Virginia and sat on 1,200 acres of prime farmland. As John was his father’s eldest, he was expected to inherit the plantation upon his father’s death, which he did.
John’s wife was similarly from a wealthy background. His wife was the daughter of a prominent Virginian plantation owner as well, and upon their marriage, his father-in-law payed a large dowry whcih John invested.
All in all, mostly deriving from his real estate holdings, John Tyler’s net worth is estimated to be at around $55 million.
11. Franklin D. Roosevelt
Franklin D. Roosevelt, more commonly known by the American public as FDR, is known for getting the US out of the Great Depression. He was also known for being among the richest presidents in US history!
FDR was born into the prosperous Hyde Park branch of the Roosevelt family.
His Roosevelt cousins included former President Teddy Roosevelt, his Aspinwall cousins included William Henry Aspinwall and his Delano cousins included former president Calvin Coolidge.
Naturally, FDR’s father was a very prosperous businessman. However, FDR saw very little of his father’s money as he wasn’t his heir. Nevertheless, FDR’s political career paid well and he bought a large house in his home town.
When FDR married his fifth cousin Eleanor Roosevelt, his father-in-law paid a large dowry. This set FDR and his new wife up for much of the rest of his life, as he invested much of it.
Mostly through this, FDR’s net worth is estimated to be at around $65 million.
10. Bill Clinton
When Clinton left the White House, he claimed that he was penniless. It got to such a degree that the Clintons were stealing furniture from the White House. However, Clinton is actually one of the richest presidents!
Clinton wasn’t born into a wealthy family like most other rich presidents. Clinton similarly wasn’t a successful businessman nor did he marry a woman from a very wealthy family.
Instead, Clinton was good at school and managed to get himself into Oxford. From here, he became a successful attorney, including becoming Attorney General of Arkansas. Eventually, he became governor and later president.
Following his rather controversial presidency, Clinton sat down and write his memoirs, My Life, published in 2004. Clinton’s wife, Hillary, has written three memoirs about her life, which have all come with book advances.
Derived mostly from his and his wife’s autobiographies, Bill Clinton’s net worth was estimated to be at around $80 million at its height.
9. Herbert Hoover
Herbert Hoover is remembered for many things, primarily for not doing much following the 1929 stock market crash. This is even more surprising when you factor in that he was among the richest presidents in history!
Unlike many presidents, Hoover wasn’t born into money, his father owned a family farm and sold much of his produce. However, Herbert worked hard and got into Stamford, where he graduated in 1895.
Initially, he worked several manual mining jobs, as the country was in the midst of the Panic of 1893. Eventually, he worked his way up to an engineering position, and eventually an executive one.
Here, he would spend the next 17 years of his life, being one of the highest paid executives in the US. He is one of only a handful of presidents to not take their full salary, choosing to donate it to charity instead.
All in all, mostly deriving from his holdings in his mining company and his real estate holdings, Herbert Hoover’s net worth is estimated to be at around $85 million.
8. Lyndon B. Johnson
Upon the assassination of JFK in November 1963, his vice president, Lyndon B. Johnson, assumed the role as president. As with his predecessor, LBJ (as he was known) was similarly among the richest presidents in US history!
However, unlike his predecessor, LBJ wasn’t born into money. LBJ’s father was a moderately successful Texan businessman. Whilst he lived better than many others in Texas, it wasn’t by much.
LBJ earned a lot of money from various jobs as a kid. However, he didn’t really earn his money until he met “Lady Bird” Johnson. “Lady Bird” Johnson was from a well connected and wealthy Texan oil family.
Over his life, LBJ bought and sold several houses, eventually keeping what he called the “Texas White House”. Here, he would rear livestock after he left office. His wife also owned several nearby radio stations.
All in all, mostly deriving from his wife’s holdings, Lyndon B. Johnson’s net worth is estimated to be at around $100 million
7. James Madison
James Madison is known for many things, most of them being before his time as president, including The Federal Papers and being the “Father of the Constitution”. However, he’s generally remember as one of the richest presidents in US history!
James Madison was born to James Madison Sr., as his father’s eldest son, it was expected that James Jr. would inherit his father’s plantation, then called Mount Pleasant (now known as James Madison’s Montpelier).
Mount Pleasant was among the largest plantations in Virginia, being on 5,000 acres of arable farmland. Upon his father’s death, James Madison inherited his plantation and slaves.
From here, James Madison streamlined his plantation and became, at one point, the owner of the largest plantation in Virginia. Upon his death, he left his estate to his eldest stepson, who squandered his family’s wealth.
All in all, mostly thanks to his real estate holdings, James Madison’s net worth is estimated to be at around $113 million!
6. Andrew Jackson
Andrew Jackson is remembered for being the voice of the common man during his presidency and a strong military man. However, people don’t realize that he was also among the richest presidents in US history!
Jackson’s parents had emigrated from Ireland only two years before he was born. Jackson grew up as a middle class American, albeit near the bottom of the middle class.
As a young adult, Jackson joined the military, but later left in order to become a lawyer. Whilst training to become a lawyer, he lived with several different people, including the wealthy frontiersman John Donelson.
Here, he became familiar with his daughter, Rachel, whom he later married. Upon his marriage to Rachel, his father-in-law paid a large dowry, which helped Jackson to establish his law firm.
From this, Jackson was also able to purchase a plantation.
All in all, mostly thanks to his real estate holdings and law practice, Andrew Jackson’s net worth is estimated to be at $133 million.
5. Theodore Roosevelt
As with his aforementioned distant cousin, Teddy Roosevelt’s presidency was among the best that the US has ever had. Teddy’s liberal and conservative principles helped him become one of America’s most beloved presidents!
Teddy Roosevelt was born into the prosperous Oyster Bay branch of the Roosevelt family (with him being related to both FDR and his wife. Teddy was born to wealthy New York businessman Theodore Roosevelt Sr.
When he was 21, he received a large trust fund, which he used to purchase a ranch in the Dakotas. However, bad investments led to Teddy loosing much of his money.
This forced him to become a writer in order to survive. Book advances allowed him to purchase an 800 acre house in Long Island, even today, this house is considered to be grand.
All in all, Theodore Roosevelt’s net worth is estimated to have been around $140 million at its height.
4. Thomas Jefferson
Thomas Jefferson has gone down in US history as one of the best presidents in US history, and sadly, as one of the most controversial. This is partly due to his wealth, or rather, how he acquired it.
Jefferson was born into a wealthy Virginian family. As with other wealthy families in Virginia, the Jeffersons had made their money through farming, specifically, through plantations that used slave labor.
As his father’s eldest son, Jefferson was his father’s designated heir. Upon his father’s death, Jefferson inherited his father’s plantation and mansion, where he would live for the rest of his days…
Following his presidency, Jefferson made some poor business decisions that left him mired in debt. However, he retained most of his plantations and the large estate that came with it.
All in all, mostly owing to his real estate holdings, Thomas Jefferson’s net worth is estimated at around $240 million.
3. George Washington
George Washington is a president who needs no introduction. He was the man who won America’s freedom, and became its first president. He was also among the richest presidents in US history!
Originally, George Washington was born into a wealthy Virginian plantation owning family. As his father’s eldest, he was expected to inherit his father’s plantation upon his death.
And George did just that. His plantation was known as “Mount Vernon” as it consisted of 5 different farms that sat on over 8,000 acres of farmland. As with other plantation owners, Washington used over 300 slaves as laborers.
George’s wife, Martha, had married another man before she had married George. Upon his death, Martha inherited everything, and upon her marriage to George, these possessions became his.
All in all, mostly through his land holdings at Mount Vernon, George Washington’s net worth is estimated to be at $600 million.
2. John F. Kennedy
John Fitzgerald Kennedy, affectionately known as JFK is among the best presidents in history. However, many people tend to overlook that JFK came from money and was one of the richest politicians of his era.
JFK was the second eldest child born to businessman Joseph P Kennedy Sr., who was one of the richest men in the US. JFK’s grandfather was a powerful member of the Democratic Party and similarly a successful businessman.
Although JFK wasn’t the eldest son, his elder brother Joseph Jr died during WWII. When his father died, he left his fortune to his surviving children, including his second-born son John.
On top of this, JFK’s wife Jackie was the daughter of stockbroker and oil tycoon John Vernou Bouvier III.
All in all, mostly deriving from his family’s net worth, John F. Kennedy’s net worth is estimated to be at about $1.1 billion when adjusted for inflation.
1. Donald Trump
Whether you love him or hate him, Donald Trump is very rich. Although his net worth isn’t entirely known, it is likely that Donald Trump is the richest president to date.
The vast majority of Donald Trump’s wealth comes from his holdings in The Trump Organization, generally seen as one of the most conservative companies on the planet. He inherited this from his father Fred, in 1971.
Primarily, this is a real estate company, which owns and builds hotels, golf courses and residential buildings all over the world. The buildings that Trump keeps are often plastered with his name on.
The Trump Organization has also had several other non-real estate holdings in the past too. This includes a vodka brand, steak brand, an airline, various media outlets and beauty pageants, among others.
Mostly through his holdings in The Trump Organization, Donald Trump’s net worth is estimated to be at around $3.1 billion. However, we’ll likely never know as The Trump Organization is privately held.
Which of the richest presidents are your favorite? Tell me in the comments!