Some of the earliest U.S. presidents were also the wealthiest when they entered office. In the modern era, presidents historically have amassed most of their wealth through media deals and appearance fees after leaving office.
Former President Donald Trump is among the wealthiest Americans ever to serve as president of the United States, with an estimated overall net worth of $3.7 billion at the time of his inauguration in 2016, according to Forbes. But he’s an outlier, according to presidential historian Barbara A. Perry, who noted that most “presidents after the Civil War were not wealthy business people — they didn’t come from money.”
As examples, she pointed to Bill Clinton, the 42nd president, and Barack Obama (No. 44,) neither of whom came from money or had much personal wealth when they entered office.
“They came from nothing. They’re not elite,” she told CBS MoneyWatch. “They made their own way in the world through scholarly prowess and came to the White House with very little in their pockets in terms of money.” Each has made tens of millions since leaving office, however.
Here is how the richest former U.S. presidents rank in terms of their peak personal wealth, according to a 2023 report from 24/7 Wall St. The report calculates former presidents’ individual net worth based on their incomes, real estate holdings, spouses’ wealth and inheritances. All figures are adjusted for inflation.
Richest U.S. presidents ever
1. Donald J. Trump ($3.7 billion). Trump’s current net worth is even higher today, pegged at $5.5 billion, according to Forbes. It comprises his earnings through real estate investments and holdings, plus his stake in Trump Media & Technology Group, which has experienced wild swings in its market value this month.
2. John F. Kennedy ($1.3 billion). Most of Kennedy’s wealth was inherited, presidential historian Douglas Brinkley told CBS MoneyWatch. His father, Joseph Kennedy, made a large fortune as an investor, and also was appointed by Franklin Delano in 1934 Roosevelt as the first chairman of the Securities and Exchange Commission.
3. George Washington ($708.5 million). Like many early presidents, George Washington was a wealthy land owner. “Our first president was rich, he owned a lot of real estate,” Brinkley said.
Other traits also set the nation’s founder apart, according to Perry. “In Washington’s case, he was very astute about farming and rotating his crops. He grew tobacco and corn, and used corn to make whiskey, which is where a lot of his wealth came from,” she said.
4. Thomas Jefferson ($285.8 million). Thomas Jefferson’s wealth was inherited through land from his father.
5. Theodore Roosevelt ($168.6 million). Theodore Roosevelt also came from a wealthy family, and inherited money.
6. Andrew Jackson ($160.1 million). Andrew Jackson was a wealthy plantation owner. Slavery was the primary source of the seventh president’s personal wealth, according to the White House Historical Association.
7. James Madison ($136.7 million). James Madison was born to wealthy, plantation-owning parents.
8. Lyndon B. Johnson ($131.9 million). The main source of Lyndon B. Johnson’s wealth came from his wife, Lady Bird Johnson’s family, who owned a television and radio station business.
9. Herbert Hoover ($100.1 million). Herbert Hoover became a multimillionaire through his ownership of Burmese silver mines, and by earning royalties from sales of a textbook on mining engineering, according to the Miller Center at University of Virginia.
10. Bill Clinton ($91.6 million). Bill Clinton became wealthy upon leaving The White House in 2001, at the end of his second term.
“Bill Clinton came from nothing, and didn’t make a lot of money in office,” Brinkley said. “He didn’t own a residence for his eight years as president,” Brinkley said. “The windfall came ex-presidency.”