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Richest presidents from Washington to Clinton
Key Excerpts from Article on Website of USA Today
Posted: October 1st, 2013
http://www.usatoday.com/story/money/business/2013/02/16/rich...
It pays to be president, especially after leaving office. 24/7 Wall St. examined the finances of all 43 presidents to identify the richest. The only currently living president who makes the wealthiest list is Bill Clinton, who has an estimated net worth of $55 million. Clinton continues to make millions of dollars in speaking fees. President Obama is not one of the wealthiest presidents of all times. Yet his net worth increased from $5 million in 2010 to an estimated $7 million, primarily from his book sales. The net worth of the presidents varies widely. Washington amassed over half a billion in today's dollars, while other presidents went bankrupt. The first few presidents from Washington's election to about 75 years later were large landowners. They generally made money from land, crops and commodity speculation. By 1850, ... most presidents were lawyers who spent years in public service. They rarely amassed large fortunes and their incomes often came almost entirely from their salaries. James Buchanan, Abraham Lincoln, Andrew Johnson, Ulysses S. Grant, Rutherford B. Hayes and James A. Garfield had modest net worths when they died. [By] the beginning of the 20th [century] ... corporations in the oil, mining, financial and railroad sectors allowed individuals to amass large fortunes. Indeed, since the early 20th century, the fortunes of many presidents, including Theodore Roosevelt, Franklin D. Roosevelt, John F. Kennedy, George and George W. Bush were driven by inherited wealth.
Note: For more on government corruption, see the deeply revealing reports from reliable major media sources available here.
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