There’s no doubt that George Washington is one of the most iconic figures in American history. He was a general, a politician, and ultimately the first president of the United States.
But what would his life have been like if he never became president? That’s a question we can never know for sure, but we can estimate based on his net worth.
In this blog post, we will take a look at George Washington’s net worth and how it reflects his place in American history. We will also explore some of the factors that contributed to his wealth and how you can create your own success story by following in his footsteps.
George Washington’s Early Wealth
George Washington was born in 1732 in the British colony of Virginia. He grew up to become one of the most influential and significant figures in American history, leading the country during its formative years. As a young man, he served as a military officer in the French and Indian War, gaining valuable experience and knowledge that would later serve him well when leading the new United States of America. Washington’s wealth came from his land holdings, which were significant at the time. By 1799, his assets had grown to an estimated $500,000. After retiring from public service, he continued to accumulate wealth through investments and property sales. In his final years, Washington was one of America’s wealthiest citizens, with an estimated net worth of over $1 million.
Washington’s Net Worth in 1788
In 1788, George Washington had a net worth of $230,000. This was a large sum of money at the time and it would be worth approximately $5.7 million today. The majority of Washington’s wealth came from his land holdings, which were worth an estimated $200,000. He also had investments in slaves and mills. Washington’s income from his government positions was also significant, averaging $1,500 per year.
Washington’s Net Worth in 1814
In 1814, George Washington’s net worth was estimated at $223,333.33. This amount was derived from the following sources: his pension for life of $20,000 per year, his annual salary of $1,000 as President of the United States, and the sale of Mount Vernon and its dependencies for a total of $232,333.33.
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Inflation Calculator
George Washington’s net worth in today’s dollars would be over $22 million. This is based on the Consumer Price Index (CPI) which was created in 1913. The CPI is a measure of how prices change over time. Over the years, groceries, housing, medical care and other goods and services have increased in price. To adjust for inflation, economists use the CPI to calculate how much money a dollar would buy in different years.
The following table shows the yearly change in the CPI for selected items from 1913 to 2017:
Year Selected Item 1913 Food 19.7 1914 Housing 10.4 1915 Medical Care 7 1916 Groceries 14.4 1917 Utilities 5 1918 Transportation 9 1919 Clothing 7.5 1920 Furniture and Housewares 11 1921 Automobiles 3 1922 Tobacco 2 1923 Coffee 1 1924 Milk 1 1925 Meat 0 1926 Apples 0 1927 Bananas 0 1928 Vegetables -1 1929 Olive Oil -1 1930 Wheat -2 1931 Cotton -3 1932 Sugar -4 1933 Cocoa -5 1934 Cigarettes -10 1935 Beef -15 1936 Pork -20 1937 Chicken -25 1938 Fish -30 1939 Eggs -50 1940 Soap -100 1941 Clothes (No Change) 1942 Toilet Paper -200 1943 Deodorant -300 1944 Hair shampoo & conditioner-500 1945 Toothpaste-1000 1946 Wart cream-2000 1947 Shampoo-4000 1948 Shoe polish-10000 1949 Carpet cleaner 2000 1950 Soap powder
George Washington Net Worth
George Washington was one of the Founding Fathers of the United States and served as its first President. He was also a general in the American Revolutionary War and was later appointed the first Chief Executive of the United States. Washington’s lifetime net worth is estimated to be between $230 million and $500 million, making him one of America’s wealthiest leaders.
Washington was born into a wealthy Virginia family in 1732. After graduating from the College of William & Mary in 1755, he joined the British Army as an aide to General Edward Braddock. In 1775, he led Continental troops in the successful Revolution against Great Britain. As president, Washington presided over the nation during its formative years, establishing constitutional government and building a strong national military. He retired from office in 1797 after two terms, leaving a lasting legacy of political and military stability in America.
Washington’s life was marked by both tragedy and triumph. His wife Martha died shortly after giving birth to their only child, Dolly; his son George Jr. died young; and his grandson George Washington III also died young. Nevertheless, Washington remained an influential figure in American history, serving as a symbol of patriotism and leadership during times of crisis. His legacy remains today both through his celebrated writings and through his continued presence on U.S currency