The Wealthiest People Who Have Run For U.S. President
By Louise Garay
Many politicians and aspiring leaders dream of securing for themselves the highest office in the whole of the United States of America. Not only does this mean getting one of the most coveted positions in the world and presiding over the nation, but ruling as the most powerful elected official in the world. To get to the top, there’s no denying that money definitely matters.
With the candidacy towards the presidential seat requiring money, it’s not surprising to see that most, if not all, candidates have some dollars to burn at their disposal. From spending millions on advertisements to establishing political action committees, candidates shell out tons to support their advocacies. After all, it’s through visibility and transparency which they hope to be remembered by the people.
Whether it’s from their inheritance or the fortunes they have built from the ground up, it surely pays to have money to keep your place in running. Keen to know who are the wealthiest people to run for U.S. president? Read on to know more.
10. Al Gore
Net Worth: $200 million
Vice president during the Clinton Administration, Al Gore ran for the 2000 presidency. Despite being predicted as the shoo-in for the seat, Al Gore lost to George W. Bush narrowly.
After his stint in politics and in the public office, Gore left to focus on environmental concerns, as well as tend to his businesses. His wealth then grew to $200 million after selling his network, Current TV, to Al Jazeera for $500 million, according to Bloomberg. He also exercised his Apple stock grants, resulting in a $30 million payday.
9. Mitt Romney
Net Worth: $250 million
Before being Utah Senator and Massachusetts governor, Mitt Romney already possessed considerable wealth thanks to his career as a consultant for Bain & Company. After being a consultant for the wealth management firm, Romney established his own investment firm called Bain Capital.
In 2012, Romney bid for the position against Barack Obama. In his asset declaration, Romney said his net worth was approximately $250 million.
8. Steve Forbes
Net Worth: $439 million
A publishing executive, Steve Forbes amassed his wealth from his family’s publishing empire. He is the current chief executive officer and editor-in-chief of Forbes Media.
According to his profile, Steve joined the presidential campaign in 1996 and again in 2000. For his presidential bid in 1996, the Associated Press reported that Steve spent $12 million on ads.
7. George Washington
Net Worth: $525 million
Once considered as the richest president throughout the history of the United States, Washington’s net worth is said to be valued at $525 million (with inflation). His wealth stemmed largely from his real estate properties, having owned 50,000 acres of land, as well as his inheritance.
According to Business Insider, Washington is the only president to earn more than others who replaced his seat. Reports say his salary exceeded the government’s total budget in 1789.
6. John F. Kennedy
Net Worth: $1 billion
The 35th president of the United States, Kennedy was no stranger to wealth and fame thanks to his own father, Joseph. Securing stocks and bonds, the patriarch ensured that his family’s wealth would be protected throughout the years.
Aside from trusts and inheritance, John F. Kennedy increased his wealth by marrying into the Bouvier family, in the oil-managing business. With his prosperous wealth and sizeable estate, this may just be one of the reasons why he donated his yearly salary of $100,000 to charities.
5. Nelson Rockefeller
Net Worth: $1.1 billion
With a family fortune inheritance amounting to $1.3 billion, Nelson Rockefeller is by no means poor. With grandfather John Rockefeller, the oil magnate, it seems that Nelson has lived a relatively comfortable life.
Although he did not win the seat when he ran in 1960, 1964, or 1968, Nelson secured an electoral position as Vice President under Gerald Ford in 1974. While he did not run for the said position, Town and Country magazine revealed he was tapped by Ford himself.
4. Tom Steyer
Net Worth: $1.6 billion
Former hedge fund manager Thomas Steyer is considered as the first-ever billionaire to outwardly challenge Donald Trump’s impeachment. Having sold his company shares in Farallon Capital, Steyer ventured into politics in 2016.
Despite providing $65 million in funding for Democrats in 2016, it was only last July when Steyer expressed his intention to enter the 2020 race. With his dedication to charitable causes, Steyer signed the Giving Pledge program, promising to donate at least half of his wealth.
3. Donald Trump
Net Worth: $3.1 billion
The current president of the United States certainly makes this list. It is no surprise as Donald Trump holds many businesses across different sectors. However, the one that holds the key to his net worth is his real estate portfolio. In New York City alone, his real estate is valued at $1.5 billion. Meanwhile, he has $660 million worth of real estate outside of the big apple.
Because of the wealth he has amassed, Donald Trump is now considered the wealthiest president in the history of the United States. In fact, his wealth reportedly supersedes all of the combined wealth of all former presidents in the U.S.
2. Ross Perot
Net Worth: $4.1 billion
Taking the second spot from the top is Ross Perot. Having campaigned as a third-party candidate in the 1992 and 1996 elections, Perot was seen as one of the most popular candidates in history. Because of his simple and downright lively and straight-to-the-point approach, he managed to catch a significant number of votes.
Garnering roughly 19% of votes in 1992, Perot went down in history as one of the most iconic candidates. He was defeated by George H.W. Bush in 1992 and again by Bill Clinton in 1996. Much of his wealth came from technology and investments, as he owned Electronic Date Systems prior to selling it to General Motors in 1984.
1. Michael Bloomberg
Net Worth: $55.9 billion
Another 2020 challenger, Bloomberg is touted as 17 times richer than Trump himself. Co-founder and owner of Bloomberg LP, this mogul reportedly brings in $10 billion per year through his media company.
As of writing this, he has spent a whopping $188 million for his 2020 presidential bid. Of this amount, $10 million went into a 60-second advertisement during the Super Bowl. Though Bloomberg’s approach doesn’t necessarily sit well with everyone, he is a staunch philanthropist and supporter of activist causes.
Now that you know who the wealthiest people to run for U.S. president are, are you surprised? Who do you think should be the next president?
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