The Richest Presidents and Presidential Candidates
1 year ago
Which presidential contenders are members of the 1%?
There have been a number of wealthy men who have been elected president or have sought the presidency. Very few of them are what you’d call “self-made” with most of them inheriting wealth. Below a look at the presidential contenders who are members of the so-called “1%.”
John F. Kennedy – The 35th president was born to the first Chairman of the SEC, Joseph Kennedy, whose wealth earned him a spot on Fortune’s inaugural list of the country’s richest people. It has been reported that the net worth of the various members of the Kennedy family is tied to a shared family trust, making it difficult to speculate as to the wealth of individual members. But the total value of the family’s entire estate during the President’s lifetime with inflation would be approximately a billion dollars today.
George H.W. Bush – Born into a wealthy family comprised of a maternal grandfather who served as President of investment firm W.A. Harriman & Co. and a paternal grandfather who served as president of a steel company and was called “one of the top industrialists of his generation,” the former President’s individual net worth has been rumored to be around $15 million.
Ross Perot – One of the most famous third party candidates in American history, Perot is currently the 99th richest person in America with a net worth of more than $3 billion. He earned his wealth as a computer pioneer, founding Electronic Data Systems, which was later purchased by General Motors for $2.4 billion. In 1992 he spent tens of millions of dollars of his private fortune on his presidential run. His candidacy is credited with helping to lift then Gov. Bill Clinton to victory over then President George H.W. Bush.
Steve Forbes – The grandson of the founder of Forbes Magazine (ironically known for its annual list of the world’s richest) Forbes spent much of his political career and presidential campaigns fighting for a “flat tax.” His net worth is said to be around $450 million.
George W. Bush – In addition to the wealth of his father’s family, the 43rd president’s maternal grandfather was the President of the publishing empire responsible for Redbook and McCall’s. His net worth is believed to be approximately $26 million.
John Kerry – The 2004 Democratic nominee for president has an estimated net worth of more than $200 million. His wife is ketchup heiress Teresa Heinz.
John Edwards – The scandal scarred former Senator turned presidential candidate earned tens of millions of dollars as a personal injury attorney with a net worth of just over $40 million.
Jon Huntsman – The former Utah Governor earned a $70 million fortune through his family’s Huntsman Corporation, founded by his father, billionaire Jon Huntsman, Sr.
Mitt Romney – Born to George Romney, the former Governor of Michigan and Chairman of American Motors, the current Republican presidential front-runner is believed to have a net worth of around $250 million, a substantial portion of it earned through his work with Bain Capital.