And when his first wife, Letitia, died while he was in office, he inherited her fortune as well. From his parents, he inherited the thriving family tobacco plantation in Virginia. John Tyler was one of many presidents whose inheritance of land and property became largely his source of wealth. Upon his death, Congress created a special pension for his widow. Despite his assets, Harrison died penniless. He also owned Grouseland, a mansion and property in Vincennes, Indiana. When Harrison's father died, he inherited 3,000 acres near Charles City, Virginia, which he later sold to his brother. William Henry Harrison married into money â his wife's father was a prominent judge and landowner. He owned the 225-acre Lindenwald estate in upstate New York. history to serve as secretary of state, vice president, and president. Martin Van Buren had a substantial income as an attorney. Jackson owned about 150 people at the time of his death. As the estate grew more successful, he continued to expand his land and purchase more slaves. By 1804, Jackson owned nine slaves and was wealthy enough to build a mansion, the Hermitage. He also inherited a fortune from his wife Rachel. He devoted most of his adult life to public service, notably after leaving office.īorn poor in 1767, Andrew Jackson became wealthy through his law practice. His wife was the daughter of a wealthy merchant. John Quincy Adams inherited his father's Peacefield home. During his time in the White House, Monroe did not attend to his finances and he entered retirement severely in debt and was forced to sell his plantation. Monroe spent his pre-presidential career practicing law and in public service. James Monroe's wife, Elizabeth, was the daughter of a wealthy privateer. His plantation was not successful, and he was further strained by his stepson's debts. Though wealthy at one point, Madison's fortunes dwindled towards the end of his life. They owned several thousand acres of land and dozens of slaves. His parents ran a successful plantation and eventually built the famed Montpelier estate on their land. James Madison was born to wealthy parents in Orange County, Virginia.

Though he was extremely wealthy for most of his life, he died in a great deal of debt, and his eldest daughter had to rely on charity for income. Jefferson expanded the land to 5,000 acres and built his architecturally advanced home Monticello. When he was a teen, Thomas Jefferson inherited 3,000 acres of land from his father near present-day Charlottesville, Virginia. The estate, known as Peacefield, covered approximately 40 acres. Adams owned a handsome estate in Quincy, Massachusetts. John Adams's wife, Abigail, was a member of the Quincys, a prestigious Massachusetts family, and a savvy investor, helping make herself and her husband wealthy. His presidential salary in 1789 was 2% of the total U.S. Washington also made substantial money as a general and as president. He inherited his extremely successful plantation, Mount Vernon, from his half brother. George Washington was America's first president and also its wealthiest for more than a century. 'I will be put out of my house': Some Americans who struggled early in crisis are on brink, others find jobs Some Americans want to leave U.S.: Here’s what life abroad is really like for ex-pats Some presidents had failed business ventures in their early careers, while others became insolvent after leaving office, frittering away their fortunes.

While there have been some middle-class presidents in the intervening years, many contemporary commanders in chief also earned extravagant wealth – sometimes in excess of $100 million, when adjusted for inflation.Įven being president does not insulate one from market forces and financial mismanagement. Consequently, only the wealthy first participated in American politics, meaning the first presidents were all well-off. In America’s early days, only property-owning white men were allowed to vote. Because a number of presidents, particularly in the early 19th century, made and lost huge fortunes in a matter of a few years, we only provided each president’s net worth at their peak. For the purposes of comparison, we provided net worth figures for each president in current dollars. examined the finances of every American president, from George Washington to Donald Trump. Yet almost none of the presidents have needed the money, as most commanders in chief had already earned or inherited fortunes – from their parents or through marriage – before being elected.Ģ4/7 Wall St. George Washington’s salary of $25,000 was equivalent to over $700,000 in modern dollars when adjusting for inflation. Even before that, every president has been paid well. Since 2001, the annual presidential salary has been set at $400,000. View Gallery: From Washington to Trump: The net worth of every US president

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