the

How Much Wealth Every President Had

i'm mr beat we americans we only elect

people to public office who represent

us you know working class americans who

truly represent the will of the people

who know what it's like to live paycheck

to paycheck who aren't

out of touch with what we're going

through i'm kidding

yeah the majority of those in congress

are in fact

millionaires the media net worth for all

members of congress is just over one

million dollars

now don't forget that they do get an

annual salary

currently that's a hundred and seventy

four thousand dollars a year but i'm

talking

assets man they tend to have lots of

assets

you know stuff that has value and could

be easily converted to cash if needed

how about american presidents well first

of all

the current annual presidential salary

is

four hundred thousand dollars with an

additional

fifty thousand dollars i know a fifty

you know measly fifty thousand dollars

for an expense account each year

but let's give it up to president donald

trump

like herbert hoover and john f kennedy

before him he donates his presidential

salary each year to various government

agencies like

the national park service and the

department of veteran affairs

however trump is a billionaire the

country's first

billionaire president as a matter of

fact so he can easily afford to donate

his salary

plus the idea that he is quote working

for nothing

is incredibly misleading since president

trump continues to make money from all

the real estate he owns or manages

he has actually faced multiple lawsuits

for this

those suing him argue that by making

money through his real estate ventures

while in office

he has violated the us constitution's

emoluments clauses

but anyway yeah donald trump is the

richest president in american history

but looking into this i got curious so

here is how rich every

president was throughout american

history

from poorest to richest now that said

we are going to look at peak wealth for

the sake of this video

there were several presidents who had

debts when they died so they literally

had a negative net worth

oh and one more thing the main source

for this information is from a report

from

24 7 wall street i have linked it in the

description of this video

harry truman yep by most accounts he was

our

poorest president he had lots of odd

jobs as a young adult

spent time in railroad construction and

working on his family farm

and had a failed hat shop he only was

able to enter politics due to his

connections he made through his military

service

him not having much wealth led to

congress literally doubling

the presidential salary to 100 000

while he was in office in 1949 however

he famously continued to struggle

financially

after he left the presidency this was

also why congress created the

presidential

pension in 1958 and in 1966

truman and his wife bess got the first

medicare cards after the government

program began

calvin coolidge before entering politics

for 20 years he had a fairly modest

career as a lawyer after he left the

presidency he got some money from his

memoir

and columns and all kinds of magazines

but that's basically it

woodrow wilson sure he was the only

president to have a phd

but he never made much money before

entering state politics he did make a

comfortable living as a professor at

princeton

and then he did rather well after he

worked his way up to president

of of princeton chester arthur

hey chester congratulations on being the

41st richest president in american

history

or put another way fourth poorest

yeah his first career was as a teacher

he later was a principal and lawyer

james garfield yep garfield was also a

teacher

teaching greek and latin at western

reserve

eclectic institute he also was a

minister

yep it seemed garfield did not care

about making money

ulysses grant sure he was a hero of the

civil war and a military genius but

struggled to earn

wealth outside of the military and

politics

many forget he also fought in the

mexican-american war

after he left the army in 1854 he failed

at both

farming and real estate only beginning

to earn money when his dad

gave him work in leather goods after he

left the presidency he had a series of

failed investments that left him

bankrupt and he literally

put together a memoir while he was dying

so that debt wouldn't go to his wife and

kids

andrew johnson throughout his political

career he constantly complained about

plantation wealth in the south he also

definitely grew up poor

and with little formal education not

learning how to read or write until he

was 17 years old

however he did make a comfortable living

as a tailor before

entering into politics abraham lincoln

sure he's our most beloved president

today but he's also the eighth poorest

in history

he actually had a similar upbringing to

andrew johnson who was his vice

president who took over after lincoln

was assassinated but yeah lincoln was

also

poor growing up and made money in his

20s doing manual labor

like literally splitting wood all day

after that he did all kinds of work

including being a postmaster and owning

a

general store only after he was elected

to the illinois state legislature did he

decide to become a lawyer

james buchanan well how about that the

president before lincoln

who is often considered the worst the

united states has ever had

buchanan actually came from a fairly

wealthy

family however he never made much money

himself since he basically spent his

entire career in public service

oh and he never married into wealth

since he

you know never married anyone william

mckinley

mckinley also didn't gain much wealth

over his life since he spent his entire

career in public service

it also didn't help that he never got

any big inheritance oh and while he was

governor of ohio he went bankrupt during

the panic of 1893.

warren harding guess what harding was

also a teacher but he also worked in

insurance he started to make some money

when he helped turn around a

once failing newspaper but harding owed

much of his wealth to his wife

mabel who was the daughter of a wealthy

banker

franklin pierce pierce had a modest

upbringing on a frontier farm

but his wife jane had a lot of wealth in

her family pierce had his own law

practice before entering politics he

also served in the military

rutherford hayes hayes main career was

lawyer like so many other future

politicians he was a darn good lawyer

though

and won some big cases that helped him

earn a decent living

he served in the civil war and got into

politics after that

william taft he started out as a lawyer

who had connections right off the bat

then later became solicitor general a

federal judge

and famously was the only president to

also serve later on

as a supreme court justice and

being in the judicial branch generally

pays better than the legislative branch

and executive branch millard fillmore he

was born into poverty and never got

any inheritance despite little formal

schooling he worked his butt off and

ended up becoming a big time

lawyer in the buffalo new york area

before that he was also a teacher for a

while

education was so important to him that

later he helped start a university

later called the university at buffalo

he was its first

chancellor william henry harrison

he spent much of his career in the

military now

harrison had some wealth since his wife

anna had wealth her dad was a big time

judge

and landowner also after his mom died he

inherited

3 000 acres of land which he get this

turned around and sold to his brother

that all said

harrison ended up losing nearly all his

wealth by the time he became president

and remember he was only in office for

31 days

after he died he left anna hardly

anything and congress ended up making a

special pension

for her benjamin harrison well how about

that williams grandson

still ended up having a bit more wealth

than him unlike his grandpa

benjamin was mostly a self-made man

he was one of the highest paid lawyers

in the country

zachary taylor famous for his

distinguished military career before he

became president

taylor got his wealth in several other

ways first of all he inherited

lots of land in multiple states in

addition he made lots of money in land

speculation

as a landlord and made big investments

in bank and utility stocks

because of all that he owned a huge

plantation which had around 80 slaves

gerald ford ford had a middle class

upbringing

and spent most of his life in public

service going right into politics after

serving in world war ii he did make the

most of his wealth after he was

president

getting millions of dollars from book

advances and from serving on the boards

of big time corporations

jimmy carter carter famously was a

peanut farmer before entering politics

after he took over his father's peanut

farm they didn't make much money at all

however he ended up turning the farm

around so that he made a comfortable

living

still by the time he lost his

re-election bid for president in 1980 he

was in debt

since his farm had failed after he put

it into a blind trust while he was in

office

however since then he and his wife

rosalind have made lots of money

publishing lots of books

dwight eisenhower another career

military man

and famously a world war ii hero

eisenhower

also had a modest upbringing and

inherited no wealth

however he did get some added family

wealth after marrying his wife

mamie of course eisenhower was always

smart with his investments which is why

he and mamie retired comfortably after

he left the presidency

john f kennedy opposite of eisenhower

yes

kennedy was born into lots of wealth and

always had lots of connections

kennedy's dad was one of the richest men

in the country as a matter of fact

also by the time kennedy married jackie

she had lots of oil money in her family

no not oily money that'd be gross money

from the oil industry

so while jfk went straight from the

military to politics he could easily

afford to almost all of his wealth came

from a

trust shared with other family members

james polk another president literally

born

in a log cabin but don't be fooled his

dad was a wealthy plantation owner

and land speculator polk's wife sarah

also had a wealthy family so yeah even

though polk was only briefly a lawyer

before entering politics he had lots of

assets

including a 920 acre plantation

and 25 slaves ronald reagan

well many forget this but reagan was a

movie and tv star before entering

politics

before that he was on radio he was also

paid well as a ge spokesperson

later he also made lots of money from

books

now this one surprised me richard nixon

he grew up in relative poverty didn't

inherit

much and worked as a public servant most

of his life after resigning from the

presidency

he had financial struggles however later

on he made money from a series of

interviews with david frost and from a

bunch of

books eventually he was able to build up

his wealth due to a bunch of smart real

estate investments

john adams sure adam's got an

inheritance but his wife abigail

also had a lot of family wealth because

of this they were set

also adams had a very successful law

practice

john quincy adams john's son did even

better than his dad

of course he got most of his dad's land

but additionally

his wife the terrific louisa was the

daughter of a wealthy merchant

so yep he was a career public servant

because

he just watched those assets become more

and more valuable

george h.w bush bush senior was

also born into wealth and he just built

upon it as an adult with all the

connections he had

he made lots of money running an

offshore oil drilling company and also

had lots of real estate investments

grover cleveland he had a relatively

modest upbringing

and built up his wealth as an adult his

wife

francis was the daughter of a wealthy

lawyer but this is a strange one though

from what i could gather cleveland got

wealthy by just being ridiculously smart

with

where he put his money he married late

only after he was president

and invested heavily in real estate

martin van buren van buren also had a

relatively modest upbringing and built

up his wealth through his law practice

and he also invested in real estate are

you starting to notice a pattern here

james monroe he was born into wealth and

his wife

elizabeth was two at one point they had

250 slaves on a 3 500

acre plantation yet he still somehow

ended up in debt

having to sell the plantation george

w bush like john quincy adams bush

jr has ended up building up even more

wealth than his dad george h.w

bush and it's all because of his

painting career

just kidding although he has made money

from those paintings

before his political career george w

bush also made millions in the oil

industry

and owned a freaking professional

baseball team for crying out loud the

texas rangers

after leaving the presidency he has also

made tens of millions

thanks to speaking fees and book deals

barack obama before obama entered

politics he had various careers

including being a lawyer

community organizer and even teacher

most of his wealth has come

since he left the presidency three and a

half years ago he gets paid hundreds of

thousands of dollars each year for

speeches alone

he also has sold millions of books and

launched a production company with his

wife

michelle john tyler the 10th president

is the 11th richest in american history

and it's all about that old money

he inherited a 1 000 acre tobacco

plantation and his first wife leticia

also had a ridiculously wealthy family

however he was another one who

lost most of his wealth by the end of

his life

franklin d roosevelt he inherited a

bunch

and got a bunch through his marriage to

the fantastic eleanor he was able to

maintain and build up his wealth

due to real estate and other investments

and spent most of his adult life in

politics and briefly being a lawyer

bill clinton clinton is another one who

was not wealthy before he was president

he almost

immediately went into politics after a

short stint as a professor

remember he started young becoming the

attorney general of arkansas when he was

only 30 years old

similar to obama he and his wife hillary

have made most of their wealth since he

left the presidency through

huge book deals paid speeches and

business consulting

herbert hoover sure hoover was wealthy

but he's another self-made man he was

born foreign

but he eventually made lots of money in

the mining industry

first as an engineer and later as an

executive

eventually expanding his operations

around the world

he also sold many books

lyndon b johnson lbj was another career

politician

although he was a teacher for a few

months while in college

so why was he so wealthy by the time he

died his wife lady bird

who yes inherited wealth but was also

very business savvy thanks to her

lbj had lots of profitable investments

james madison born in the great wealth

much of the land he owned was passed

down to him

eventually he was the largest landowner

in orange county virginia with around

5 000 acres he also had more than 100

slaves toward the end of his life

however he lost quite a bit of money

andrew jackson historians often call him

our first quote

common man president but he was the

fifth wealthiest president of all time

perhaps jackson never forgot about his

upbringing he

was poor growing up he started out as a

saddle maker and

teacher but only started to make a

decent living as a lawyer

his wife rachel had some wealth in her

family and jackson's law practice

ended up doing very well plus he got

paid decently

while in the military more importantly

he got 1050 acres of amazing land in

tennessee

throughout his life he owned as many as

300 slaves

theodore roosevelt teddy got a trust

fund

a big one his family was extremely

wealthy and had lots of connections

he spent the majority of his adult life

in politics so

didn't earn an extraordinary amount he

also lost a lot of money on a ranching

investment

in the dakotas however overall his

wealth was

sustained through valuable real estate

and

writing books thomas jefferson

jefferson inherited 3 000 acres of

valuable land and around

175 slaves over his life jefferson would

own more slaves than

any other president with more than 600

while most of his wealth came from his

famous 5 000 acre plantation monticello

he also made serious money in

all the different political positions he

was in similar to his friend james

madison he also lost quite a bit of

money toward the end of his life

george washington by now this story is

all too familiar

property lots of property sadly

human property my favorite president

also unfortunately had over 300 slaves

his plantation mount vernon was made up

of five separate farms on more than 8

000

acres of some of the richest farmland in

virginia his wealth also had help from

his wife martha who inherited lots of

property after her first husband died

even as president he made a higher

salary than

all other presidents when adjusted for

inflation i mean he was a pretty good

president

and as i said at the beginning of the

video the richest president in american

history

is donald trump as most of you already

know he inherited lots of real estate

wealth

and he has grown his real estate empire

over the years

mostly due to the marketing of his image

while it's assumed he is our first

billionaire president

no one really knows his actual net worth

since

the trump organization is privately held

forbes magazine

estimates it to be around 2.1 billion

dollars

so there you have it in general the

poorest presidents

served in the late 1800s to early 1900s

with the exception of the roosevelts of

course

and their richest presidents served in

the earliest years of the republic

and the most recent years of the

republic which i just find fascinating

also remember there's a clear pattern

here the wealthiest presidents and the

wealthiest people for that matter

they build up those assets for realness

but what do you think does wealth even

matter when we talk about

presidents now that i've made an entire

video about it is it inevitable that

most people who end up in public office

also happen to be wealthy or put more

bluntly

is the only way to get into congress or

to become

president to first have a lot of wealth

let me know in the comments below

thanks for watching