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NNN0LHI

(67,190 posts)
Sat Jan 28, 2012, 08:50 PM Jan 2012

Washington was worth $525 million in 2010 dollars yet had to borrow money to get to his inauguration [View all]

http://www.uticaod.com/news/x430730479/Romney-would-rank-among-richest-presidents-ever

<snip>He couldn't top George Washington who, with nearly 60,000 acres and more than 300 slaves, is considered the big daddy of presidential wealth. After that, it gets complicated, depending how you rate Thomas Jefferson's plantation, Herbert Hoover's millions from mining or John F. Kennedy's share of the vast family fortune, as well as the finer points of factors like inflation adjustment. snip

Research by 24/7 Wall St., a news and analysis website, estimated Washington's wealth at the equivalent of $525 million in 2010 dollars.

Yet Washington had to borrow money to pay for his trip to New York for his inauguration in 1789, according to Dennis Pogue, vice president for preservation at Mount Vernon, Washington's Virginia estate. His money was tied up in land, reaping only a modest cash income after farm expenses. snip

A few former chief executives died in debt, including Thomas Jefferson, ranked in a Forbes study as the third-wealthiest president.

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