Friday, May 28, 2010

Who Were the Wealthiest U.S. Presidents?

 Who Were the Wealthiest U.S. Presidents?
George Washington was not only America's first president, but possibly its richest, too.
A calculation of the net worth of each U.S. president in 2010 dollars shows Washington would have had a personal net worth today of more than $500 million.
To determine the presidents' net worth, the website 24/7 Wall St. factored in hard assets like property, plus "estimated lifetime savings based on work history, inheritance, homes, and money paid for services," among other things. Some presidents inherited wealth, while others became rich after they left the presidency.
Other presidents who were worth more than $100 million (adjusted for inflation) are Thomas Jefferson, James Madison, Andrew Jackson, Theodore Roosevelt and John F. Kennedy.
While Washington would have been a multi-millionaire today, some presidents had limited financial resources. Those who served in the second half of the 19th century, such as James Buchanan, Abraham Lincoln, Andrew Johnson, Ulysses S. Grant, James Garfield and Chester Arthur, were found to have "almost no net worth at all," writes 24/7 Wall St.
As for the current occupier of the White House, President Barack Obama is estimated to have a net worth of $5 million, making him the least prosperous president since Harry Truman.
-Noel Brinkerhoff
 (by Michael B. Sauter, Ashley C. Allen, and Douglas A. McIntyre, 24/7 Wall St)



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