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MineralMan

(146,333 posts)
Mon Aug 24, 2015, 10:36 AM Aug 2015

The Wealth of Presidents - We Expect our Presidents to Be Successful

That's true, pretty much, although there are exceptions. Here's an illuminating look at the wealth of our past Presidents:

https://en.wikipedia.org/wiki/List_of_United_States_Presidents_by_net_worth

All figures are normalized to 2010 Dollars, so we can compare better. Some of the results are surprising, perhaps. Others are not. We've had a number of Presidents with a low net worth, but looking at this list demonstrates that we expect our Presidents to be reasonably successful people, for the most part.

It's worth a look, I think. There were surprises there for me, to be sure. The only conclusion I draw from this is that we typically elect Presidents who have some wealth. That's not surprising, really.

I'll bet you can't guess who the wealthiest U.S. President was, though.

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Octafish

(55,745 posts)
1. I don't expect them to get rich through office.
Mon Aug 24, 2015, 10:38 AM
Aug 2015

Seems to be a pattern since Vietnam, mostly with the GOP presidencies.

MineralMan

(146,333 posts)
7. From the Wikipedia article:
Mon Aug 24, 2015, 11:02 AM
Aug 2015
As indicated in the table, four of the five richest U.S. presidents since 1929 were Democrats.


The Wikipedia article doesn't indicate wealth prior to and after becoming President. So, I can't say how much of their wealth was attained after serving as President. That might be more difficult to dig up, and I don't have time today.
 

think

(11,641 posts)
2. There is no problem with presidential candidates being wealthy. How they get that wealth
Mon Aug 24, 2015, 10:39 AM
Aug 2015

is another issue....

MineralMan

(146,333 posts)
8. The article at the link doesn't address that. It would need further
Mon Aug 24, 2015, 11:05 AM
Aug 2015

research, of course. I don't have time to do that research right now, so I posted this as a starting point.

Brother Buzz

(36,469 posts)
13. Lyndon Johnson had longtime sweetheart deals with the Brown brothers of Brown & Root
Mon Aug 24, 2015, 01:15 PM
Aug 2015

The depression era Government contracts for roads and dams were lucrative, but Brown and Root got an E ticket ride on gravy train during the second world war. Lyndon Johnson greased the ways at every turn, even when he was in the service.

Brown & Root -> Kellogg Brown & Root (KBR) -> Halliburton

Wounded Bear

(58,721 posts)
4. I'm a little confused...
Mon Aug 24, 2015, 10:46 AM
Aug 2015

It doesn't seem to specify, but is that the net worth at time of first election to the office, or peak net worth in entire lifetime?

I think it is an interesting and important distinction.

MineralMan

(146,333 posts)
9. They don't break it down that way, so I'm not sure, frankly.
Mon Aug 24, 2015, 11:06 AM
Aug 2015

I know that JFK came from wealth, and since he was assassinated, I'm guessing that his wealth came before his election. It would take additional research to get the answers to your question.

MineralMan

(146,333 posts)
10. OK. I'm using financial success as the criterion, since
Mon Aug 24, 2015, 11:08 AM
Aug 2015

that was what was in the Wikipedia article at the link. There are other criteria that indicate success, as you point out.

Bonobo

(29,257 posts)
6. "We Expect our Presidents to Be Successful" = ass backwards conclusion
Mon Aug 24, 2015, 10:54 AM
Aug 2015

We are not electing them because they are wealthy.

Their wealth confers upon them the POWER to take the presidency through influence of a variety of types.

You really drew the wrong conclusion and I am surprised. It seems apparent.

MineralMan

(146,333 posts)
11. I didn't really draw much of a conclusion at all.
Mon Aug 24, 2015, 11:11 AM
Aug 2015

"We" is a difficult word, since "we" are a vary diverse society. I try not to characterize the entire society in things like this. Each voter votes according to his or her own priorities.

However, I do believe that financial success is something we generally expect for people we elect. It's an indicator of someone who has been able to generate wealth in some way. Still, some were born to wealth. JFK is an example of that. People who are true leaders generally are pretty successful, financially, though. Not all, but most.

zipplewrath

(16,646 posts)
12. Peak wealth
Mon Aug 24, 2015, 12:46 PM
Aug 2015

Several noteables were near pennyless at one point or another. Jefferson died owning more than he was worth. Grant wrote his memoirs so that he could provide for his family. It worked too, although basically after he died. Somewhere along the way we decided there should be pensions because it gets too embarrassing to have destitute ex-presidents.

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