Albert Einstein Net Worth - Pulptastic
What was Albert Einstein’s net worth?
Albert Einstein, a German-born theoretical physicist, had a net worth of $65,000 at the time of his death in 1955, equivalent to $634,000 in today’s dollars after adjusting for inflation. His most famous theory is the theory of relativity, including the equation E=mc^2, which revolutionized the way we think about energy and mass. He won the Nobel Prize in Physics in 1921 for his contributions to quantum physics.
Einstein completed his education in Switzerland and worked at the Swiss Patent Office, where he developed many of his significant theories. His “Annus Mirabilis” papers, published in 1905, introduced revolutionary theories on the photoelectric effect, Brownian motion, special relativity, and mass-energy equivalence.
In 1915, Einstein presented his General Theory of Relativity, providing a new understanding of gravitation. His prediction of light bending around massive objects was confirmed during the 1919 solar eclipse, catapulting him to international fame. He immigrated to the United States in 1933, fleeing Nazi persecution, and worked at the Institute for Advanced Study in Princeton, New Jersey, until his retirement.
Einstein’s letter to President Roosevelt in 1939 warning of potential Nazi atomic weaponry led to the establishment of the Manhattan Project, but he later regretted his involvement and became an advocate for nuclear disarmament.
Einstein’s influence extends beyond physics. His philosophical reflections on science have shaped intellectual thought, and his advocacy for civil rights, education, and pacifism left a lasting societal impact. Albert Einstein passed away on April 18, 1955, but his legacy continues to inspire scientific exploration and discovery.
Albert Einstein’s Modest Net Worth During His Lifetime
Albert Einstein, despite his fame and importance to mankind, led a relatively poor life throughout his career. In fact, at the time of his death in 1955, his estate was worth only $65,000. His surviving children and grandchildren were given modest gifts, and his secretary of nearly 30 years was a beneficiary of several thousand dollars.
However, in death, Einstein has become one of the highest-paid dead celebrities, with his name and likeness licensed primarily for the “Baby Einstein” product line. His beneficiaries earn millions of dollars each year, and royalties from Baby Einstein alone have been known to top $10-20 million annually.
Unfortunately, Einstein’s surviving blood relatives are not beneficiaries of these millions. When his granddaughter Evelyn Einstein died in 2011, she was impoverished and reportedly living out of her car, despite the continued success of the Baby Einstein brand.
Instead, control over Einstein’s literary estate, copyrights, publication rights, and royalties were given to his secretary and a fellow professor at Princeton, with the financial benefits generated by these going to The Hebrew University in Jerusalem, according to Einstein’s will.
Early Life and Education
Albert Einstein was born on March 14, 1879, in Ulm, Germany to non-practicing Ashkenazi Jewish parents. His father, Hermann Einstein, was a salesman and engineer who founded a failed electrical equipment company. Einstein attended Luitpold Gymnasium in Munich from ages eight to sixteen, where he showed an early aptitude for science and mathematics. He discovered the Pythagorean theorem at twelve and mastered calculus by fourteen. In 1895, he moved to Switzerland to complete his secondary education and later graduated from the Swiss Federal Polytechnic School in Zurich in 1900, one of only four graduates out of nearly 2,000 who did not receive a job offer.
During his time in Switzerland, Einstein also faced financial stress when his girlfriend, Mileva, became pregnant. To support himself, he worked as a math tutor for wealthy families, even placing an ad in the local newspaper offering the first lesson for free.
Despite these challenges, Einstein continued to pursue his passion for science and went on to make groundbreaking contributions to the field of physics.
Albert Einstein’s Life and Career
Albert Einstein earned a PhD at the age of 26, and in 1905, he published four major scientific papers that transformed science as we know it today. However, the world was not ready to recognize or understand his revelations at that time. From 1902-1909, Einstein worked at a patent office, evaluating patent applications, which prompted him to make several breakthroughs later in his career.
By 1908, Einstein was already a leading figure in the scientific community. He became a professor at the University of Bern in Switzerland and later at Charles University in Prague in 1911. He was renowned and traveled the world, giving lectures at esteemed universities.
In 1929, Albert used his life savings to build his dream home in Caputh, outside of Berlin. However, in 1933, during the rise of Nazi Germany, Einstein decided to immigrate to the United States as a person with Jewish heritage. He renounced his German citizenship and settled into a position at the Institute for Advanced Study in Princeton, New Jersey. The Nazis confiscated all of his assets, including his bank accounts and dream home on the lake.
Upon accepting the job at Princeton, Einstein was initially offered a salary of $3,000 per year, but his wife, Elsa, negotiated a salary of $16,000 per year for the rest of his life. Thanks to this salary, some speaking engagement fees, and meager royalties on his copyrights, Albert had disposable income and even a bit of wealth for the first time in his life.
In 1940, Albert became a citizen of the United States, where he remained for nearly the rest of his life.
Albert Einstein’s Relationships and Family
At 16, Einstein fell in love with his host’s daughter but their relationship ended when he moved away. He then met his first wife Mileva Marić while studying at the Swiss Federal Polytechnic School and they were married in 1902. They had a daughter, but her whereabouts are unknown as she may have died as a baby. They then had two sons in 1904 and 1910.
Einstein’s romantic interest shifted to his cousin, Elsa Löwenthal, in 1914. In 1919 he divorced Mileva and married Elsa a few months later. As part of the divorce settlement, Einstein promised to give Mileva the entirety of whatever funds came from a Nobel Prize that he expected to receive. He won the Nobel Prize in 1921 and Mileva received the award of $32,000.
Albert and Elsa emigrated to the US in 1933 and remained together until Elsa’s death in 1936. Einstein had several girlfriends and female companions over the next two decades but never married again and had no other children.
Einstein Urged US to Develop Nuclear Weapon to Counter Germany
In 1939, Einstein and other scientists warned the US government of the potential for Germany to build an atomic bomb. Einstein wrote a letter to President Roosevelt urging him to consider the danger and recommending that the US increase its research and production of a nuclear weapon. This led to the beginning of the Manhattan Project. However, later in life, Einstein expressed regret about his advocacy for the development of a nuclear weapon, as he was a pacifist.
Albert Einstein’s Beliefs and Advocacy
Albert Einstein was an advocate for civil rights, condemning the persecution of African-Americans in the United States. He was also a socialist and pacifist, criticizing both capitalism and war. Kant’s philosophy greatly influenced him throughout his life. He identified as a Zionist but advocated for peaceful cooperation between Jews and Arabs in Palestine, condemning violence toward Palestinians. When President Truman recognized Israel in 1948, Einstein was elated, but declined the offer to be Israel’s second president in 1952.
Einstein’s Impact on Science and Popular Culture
Albert Einstein’s scientific discoveries and theories are the foundation of current research across multiple disciplines. His prediction of gravitational waves was confirmed in 2016, a century after he made it.
Einstein’s iconic appearance with crazy hair and distinctive facial expressions has been mimicked in popular culture, creating the trope of the “absent-minded professor” often seen in movies and television. The term “Einstein” has even entered the English language as slang to describe a highly intelligent person.
