George H.W. Bush Net Worth at Death – Salary, Income, Earnings

George H.W. Bush Net Worth 

George H.W. Bush had an estimated net worth of $25 million at death. George H.W. Bush was the 41st President of the United States and served as vice president under Ronald Reagan. He was also the father of George W. Bush, the 43rd President. He earned most of his income from his political career and business ventures. 

George H.W. Bush served in WWII before being elected to the United States House of Representatives in 1966. He was Ronald Reagan’s vice president for two terms before winning the 1988 United States presidential election and losing his bid for a second term to Bill Clinton. Following that, he campaigned for his son, George W. Bush, who was also elected President of the United States, and co-founded the Bush-Clinton Katrina Fund.

To calculate the net worth of George H.W. Bush, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: George H.W. Bush
Net Worth: $25 Million
Monthly Salary: $100 Thousand
Annual Income: $2 Million
Source of Wealth: Businessperson, Politician, Entrepreneur, Military aviator

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Early Life

George Herbert Walker Bush was born in Milton, Massachusetts, on June 12, 1924. He was born into a wealthy and politically active family as the son of Senator Prescott Bush. Bush attended Phillips Academy in Andover, Massachusetts, an elite boarding school. After meeting his future wife, known as Barbara Pierce at the time, at a Christmas dance in 1941, he began dating her. Bush was 17 years old, and Barbara was only 16 years old. In January 1945, they married.

On his 18th birthday, Bush enlisted in the United States Navy, becoming the Navy’s youngest pilot during World War II. He was a combat pilot during the war, flying carrier-based torpedo bomber aircraft on 58 combat missions.

When his plane was hit during a bombing run in the Pacific, he narrowly escaped death. After escaping the burning plane, he was quickly rescued by a US Navy submarine. For his WWII service, Bush was awarded the Distinguished Flying Cross.

Following the war, Bush attended Yale University, where he earned a bachelor’s degree in economics in 1948. Later, he relocated to Midland, Texas, where he became successful in the oil and petroleum industry.

Congressman and Vice President

In 1963, Bush was elected chairman of the Harris County Republican Party. The following year, he ran an unsuccessful campaign for a seat in the United States Senate in Texas. But it didn’t take long for Bush to enter Congress; two years after his unsuccessful Senate bid, he was elected to the United States House of Representatives, where he served two terms.

Later in his career, Bush was appointed to several important positions, including US ambassador to the United Nations in 1971, head of the Republican National Committee during the Watergate scandal, US envoy to China, and director of the Central Intelligence Agency in 1976.

Bush then set his sights on the presidency of the United States, but he failed to win his party’s nomination in 1980, losing to his opponent, Ronald Reagan. Bush would eventually make it to the White House, however, as Reagan’s vice-presidential running mate. Reagan defeated Democrat Jimmy Carter in the 1980 election. In 1984, he was re-elected, with Bush serving as his vice president for both terms.

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Presidency

Bush ascended to the presidency in 1989, when he defeated Democratic nominee Michael Dukakis in the 1988 election, becoming the first sitting vice president to be elected president since 1837. “Read my lips: No new taxes,” Bush famously said during his acceptance speech at the 1988 Republican National Convention.

Accomplishments

During his presidency, Bush handled foreign affairs deftly during a turbulent period for the country. He responded to the dissolution of the Soviet Union and oversaw the removal of Panamanian dictator Manuel Noriega from power just months into his first term.

Not long after, in response to then-Iraqi President Saddam Hussein’s invasion of Kuwait (August 1990), Bush formed a national coalition and led a military strike to force Hussein out of the oil-rich country. Bush’s handling of the invasion of Kuwait is widely regarded as his most significant presidential achievement.

As the invasion began, Bush delivered a speech to the American people in which he stated, “All reasonable efforts to reach a peaceful resolution have now been exhausted by the 28 countries with forces in the Gulf region. [We] have no choice but to forcibly remove Saddam from Kuwait. We are not going to fail. We are determined to eliminate Saddam Hussein’s nuclear weapons capability. In addition, we will destroy his chemical weapons facilities. Saddam’s artillery and tanks will be largely destroyed. Our goals are simple: Saddam Hussein’s forces will leave Kuwait.”

Despite his global successes, Bush’s inability to deal with domestic economic problems was blamed for his re-election defeat in 1992.

Post-Presidency

When his eldest son, George W. Bush, was elected president in 2000, Bush made numerous public appearances, often in support of his son. He supported several political causes in addition to being a proud and supportive father.

In 2005, he teamed up with former President Bill Clinton — the Democratic candidate who defeated him in the 1992 election — to aid victims of Hurricane Katrina, which devastated the Gulf Coast region, particularly Louisiana and Mississippi. In its first few months, the Bush-Clinton Katrina Fund raised more than $100 million in donations.

President Barack Obama awarded Bush the Presidential Medal of Freedom in 2011.

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Sexual Harassment Allegations

Bush was named to a list of politicians and Hollywood heavyweights accused of sexual harassment in late 2017. His alleged transgressions dated back at least to 1992, though the majority of the allegations stemmed from more recent events. Bush’s spokesman, Jim McGrath, blamed the allegations on the former president’s inability to reach above waist level when posing for photos with women.

Bush officially became the longest-living president in American history on November 25th of that year, at 93 years and 166 days. He surpassed Gerald Ford’s previous record of 93 years and 120 days, with Ronald Reagan coming in third at 93 years and 120 days. Following Bush’s death, Jimmy Carter became the longest-living president.

Death

Bush died at 10:10 p.m. on November 30, 2018, in Houston, Texas. “Jeb, Neil, Marvin, Doro, and I are saddened to announce that our dear Dad has died after 94 remarkable years,” his son George said in a statement. “George H. W. Bush was a man of impeccable character and the best father a son or daughter could have. The Bush family is grateful for 41’s life and love, for the kindness of those who cared for and prayed for Dad, and for the condolences of our friends and fellow citizens.”

Bush spent the majority of his time in Houston or at his Kennebunkport home. He was married to Barbara for over 70 years, and they had six children: George, Robin, Jeb, Neil, Marvin, and Dorothy. Robin, another daughter, died in 1953.

Further Reading

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