Donald Trump is now the wealthiest person to ever become president.
• Before him, George Washington was considered the richest president in history.
• He had an estimated net worth of $525 million, in today’s dollars.
Donald Trump is the wealthiest president in history.
Forbes estimates his net worth is $3.1 billion, although he’s previously claimed to be worth much more than that.
And, since the president never released his tax returns, his financial situation is still somewhat unclear.
Still, it appears that he’s the first ever billionaire to ascend to the White House.
Until now, the wealthiest president in US history also happened to be the first: George Washington.
The soldier, farmer, brewer, entrepreneur, and statesman is thought to have had an estimated net worth of $525 million in today’s dollars. He not only earned more than other presidents — his salary was twice the total US budget in 1789, 24/7 Wall Street reports — but he owned over 50,000 acres of land.
Read on to learn more about the finances of the first US president:
This is an updated version of a post by Kathleen Elkins.
Not much else is known about his childhood. His formal education ended around age 15. In 1749, he received his surveying license from the College of William and Mary before getting involved in the military.
In 1759 he married Martha Dandridge Custis, a young widow with two children and a great deal of wealth. When Washington was elected president — first in 1789 and again in 1792 — his family didn’t live in the White House. It wasn’t completed until after his death, and he’s the only president never to have stayed there.
When Washington inherited Mount Vernon in 1761, it was a one-and-a-half-story farmhouse his father had built. Over the next several years, he grew it from a 2,000-acre property to an 8,000-acre property with five farms and a 21-room mansion.
He oversaw many landscape improvements to the property, grew a variety of crops, and maintained fruit orchards at Mount Vernon. In addition to being aesthetically pleasing, his gardens were practical and provided food for the mansion.
Here’s a glimpse inside the Mount Vernon kitchen and storeroom.
Though Washington mentioned in his own accounts that he couldn’t play an instrument, he created a music and family room where his stepchildren and grandchildren could learn the spinet and violin.
He couldn’t play any instruments … but he owned the dance floor. First-hand accounts say Washington was an excellent dancer and always the center of attention at parties and balls.