John F. Kennedy Net Worth
What was John F. Kennedy’s Net Worth?
John F. Kennedy’s Net Worth
John F. Kennedy was the 35th President of the United States and had a net worth of $12 million at the time of his death in 1963. Adjusted for inflation, that’s the same as $100 million today. JFK was assassinated in Dallas by Lee Harvey Oswald. If he had lived longer, he would have likely had a net worth of more than $1 billion thanks to valuable family trusts.
JFK’s Inherited Fortune from Joseph Kennedy
JFK inherited his fortune from his father, Joseph Kennedy, who was estimated to be worth $200-$400 million by Fortune Magazine in 1957. Joseph Kennedy made his fortune in the stock market and real estate, investing in movie studios and film production as well.
Contrary to popular belief, Joseph Kennedy did not make his fortune bootlegging alcohol during prohibition. Legend has it that he sold all of his shares in the stock market just before the crash of 1929, after being spooked that his shoe-shine boy was investing in stocks and giving him stock tips. He then reinvested his funds back into the market after the crash and made an enormous personal fortune.
Joseph Kennedy’s net worth at the time of his death in 1969 was the inflation-adjusted equivalent of $2.6 billion. Kennedy family members continue to benefit from trusts set up by Joseph decades earlier, with JFK’s sister Caroline worth $250 million today.
Early Life and Education
John Fitzgerald Kennedy was born on May 29th, 1917 in Brookline, Massachusetts to Joseph Kennedy Sr. and Rose Kennedy. His father was a businessman and politician while his mother was a philanthropist and socialite. Kennedy grew up in Brookline until attending Choate Rosemary Hall boarding school in 1931. He suffered from gastrointestinal issues that sometimes required hospitalization.
After intending to study at the London School of Economics, Kennedy enrolled at Princeton University but was forced to leave after two months due to his health issues. He took a year off to focus on his health and then applied to and was accepted at Harvard. He participated in the swim team and sailing club and went on sailing trips to Europe. His senior thesis, “Appeasement in Munich,” later became a best-seller under the title “Why England Slept.”
In 1940, he graduated cum laude with a bachelor’s degree in government with a concentration on international affairs. He then enrolled at the Stanford Graduate School of Business but took a break to help his father write his memoirs.
John F. Kennedy’s Military Service
In 1941, Kennedy joined the United States Naval Reserve and worked at the Office of Naval Intelligence. He was later assigned to Panama and then to the Pacific. In 1943, he became commander of the PT-109 naval ship based in the Solomon Islands. The ship was attacked by the Japanese, and it started to sink. Kennedy asked his crew whether they wished to fight or surrender, and they chose the former. They swam nearly four miles to Olasana Island and were rescued after five days. It took Kennedy over a month to recover and return to duty. He continued to serve in the Navy for four more years and was frequently hospitalized for back problems. He retired from the service in 1945.
Early Life and Political Career
After the death of his older brother, Kennedy pursued a career in politics at the encouragement of his father. He served in the House of Representatives before winning a seat in the Senate. Kennedy announced his candidacy for president in 1959 and won the election the following year, with the help of his charisma and televised debates. As president, he attempted to manage foreign relations with the Soviet Union and was able to secure US primacy in West Berlin, but the Bay of Pigs Invasion of Cuba was a major failure.
Marriage and Family
John F. Kennedy married Jacqueline “Jackie” Bouvier in 1953, later known as Jacqueline Kennedy Onassis. The couple had two children together, John F. Kennedy Jr. and Caroline Kennedy. Unfortunately, their son John died in a small airplane crash in 1999. Caroline had a career in politics as the US Ambassador to Japan. Kennedy Sr. was known for his numerous affairs during his marriage.
Assassination
On November 22nd of 1963, Kennedy was assassinated in Dallas by Lee Harvey Oswald. Despite numerous conspiracy theories, there has been no indication that there were any others involved in the assassination besides Oswald.
