George W. Bush Net Worth 2022 (Forbes) – Salary, Income, Earnings

George W. Bush Net Worth 

George W. Bush has an estimated net worth of $50 million. George W. Bush was the 43rd president of the United States. He led his country’s response to the 9/11 attacks in 2001 and initiated the Iraq War in 2003. Bush was a businessman and the governor of Texas before becoming president.

George W. Bush was born on July 6, 1946, in New Haven, Connecticut. He is the son of George H.W. Bush, who served as the 41st president of the United States. In one of the closest and most contentious elections in American history, he narrowly won the Electoral College vote in 2000. 

To calculate the net worth of George 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 W. Bush
Net Worth: $50 Million
Monthly Salary: $100 Thousand
Annual Income: $5 Million
Source of Wealth: Politician, Businessperson, Author, Public speaker

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Early Life

George Walker Bush was born in New Haven, Connecticut on July 6, 1946. He is the eldest of George Herbert Walker Bush and Barbara Pierce Bush’s six children. Since the 1950s, the Bush family had been involved in business and politics. Prescott Bush, a former Wall Street banker and progressive Republican senator from Connecticut, was Bush’s grandfather, and his father was a businessman, diplomat, vice president, and president of the United States.

George H.W. Bush relocated his family to Midland, Texas, in 1948, where he made his fortune in the oil business. George spent the majority of his childhood in Midland, where he attended school until the seventh grade.

In 1961, the Bush family relocated to Houston, and George W. Bush was enrolled at Phillips Academy in Andover, Massachusetts. He was an all-around athlete there, competing in baseball, basketball, and football. He was a good student with a reputation for getting into mischief. Despite this, he was admitted to Yale University in 1964 through family connections.

George W. Bush was a popular Yale student who served as president of the Delta Kappa Epsilon fraternity and played rugby. For Bush, Yale’s social life took precedence over academics.

Despite his privileged upbringing, he was at ease with people of all backgrounds and had a large circle of friends and acquaintances. George W. Bush, like his father and grandfather before him, became a member of Yale’s secretive Skull and Bones society, an invitation-only club that includes some of America’s most powerful and elite family members.

George W. Bush enlisted in the Texas Air National Guard two weeks before graduation, at the end of his draft deferment. The Vietnam War was at its height in 1968. Despite the fact that the Guard unit had a long waiting list, Bush was accepted thanks to the uninvited assistance of a family friend.

In June 1970, he was commissioned as a second lieutenant and received his fighter pilot certification. Bush was honorably discharged from the Air Force Reserve on November 21, 1974, despite irregular attendance and questions about whether he had completely fulfilled his military obligations.

Personal Life

George W. Bush continued his education after leaving the Guard, enrolling at Harvard Business School and earning a Masters of Business Administration degree in 1975. He then returned to Midland and began working in the oil industry for a family friend before establishing his own oil and gas company.

Friends introduced Bush to Laura Welch, a school teacher and librarian, at a backyard barbeque in 1977. He proposed after a three-month courtship, and they married on November 5, 1977. Bush and his wife settled in Midland, Texas, where he continued to grow his business.

George W. Bush attributes his life’s organization to his wife. He had several embarrassing alcohol-related incidents prior to marriage. He joined the United Methodist Church and became a Christian shortly after marrying Laura.

Barbara and Jenna, the couple’s twin daughters, were born in 1981. Bush sold his struggling oil company to Harken Energy Corporation in 1986 in exchange for stock and a seat on its board of directors. He also stopped drinking and became very involved in his church at this time.

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Governor of Texas

George W. Bush moved his family to Washington, DC in 1988 to work on his father’s presidential campaign, participating in campaign activities and meeting influential people. Following his father’s victory, he returned to Texas and joined a group of investors in purchasing the Texas Rangers baseball team in 1989.

George W. Bush quickly rose to prominence as the group’s leader and made some astute trades. The team did well, and Bush established himself as a successful businessman. In 1998, Bush reportedly sold his stake in the team for 17 times his initial investment.

Following his father’s reelection defeat to Bill Clinton in 1992, George W. Bush decided to run for governor of Texas as a Republican. His Rangers affiliation and family reputation aided him in his 1994 campaign against incumbent Democrat Ann Richards.

His campaign emphasized welfare and tort reform, crime reduction, and education reform. The competition was heated, with accusations of financial impropriety on one side and homosexuality on the other. Bush won the election with 53% of the vote, making him the first child of a U.S. president to be elected governor of a state. In 1998, Bush became the first Texas governor to be elected to two four-year terms in a row.

George W. Bush earned a reputation for bipartisanship as governor by appealing to moderate Republicans and Christian conservatives within his own party. He established the “compassionate conservatism” philosophy, which combined limited government with concern for the underprivileged and personal responsibility.

Because the previous gubernatorial administration had left the Texas treasury in surplus, Bush pushed for a tax cut and increased education funding. He advocated for educational reform, including tying teacher pay to student performance on standardized tests, and signed legislation lowering the age at which juveniles could be tried in adult courts.

First Term as President

George W. Bush began his presidential campaign in 1999, and after a contentious series of primary elections, he won the Republican presidential nomination. The presidential election in 2000 between George W. Bush and Democratic candidate Al Gore was close and contentious. There was no clear winner as Election Day progressed.

The late-night news declared one candidate the winner, followed by the other. Bush had 246 electoral votes and Gore had 255 by early the next morning, with 270 needed to win. Florida’s 25 electoral votes were hanging in the balance after several counties reported balloting issues.

After more than a month of recounts and legal maneuvering, the United States Supreme Court declared George Bush the winner. Though Gore lost the election in the Electoral College (271 to 266), he received over 543,000 more popular votes than Bush, complicating Bush’s victory even more.

During his first two years in office, George W. Bush had a political majority in both houses of Congress but faced a deeply divided government. His political rhetoric exacerbated this schism at times.

Using the previous Democratic administration’s budget surplus, Bush pushed through a $1.35 trillion tax cut to stimulate the economy, but critics claimed it favored the wealthy. His administration sparked even more controversy when he declared that the United States would not adhere to the Kyoto Protocol for reducing greenhouse gas emissions, citing potential economic harm.

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9/11 and Iraq War

Terrorists from Al Qaeda hijacked four commercial jetliners in the United States on September 11, 2001. Three of them were successful in New York and Washington, D.C. In Pennsylvania, a fourth plane crashed into a farmer’s field. President George W. Bush promised the American people that he would do everything in his power to prevent another terrorist attack.

With the creation of the Homeland Security Department, the Patriot Act, and the authorization of intelligence gathering, a comprehensive strategy was formed, which included monitoring international phone calls made by US citizens for a time. In Afghanistan, where the ruling Taliban government was said to be harboring Al Qaeda leader Osama bin Laden, the Bush administration also formed international coalitions to hunt down and destroy Al Qaeda and other terrorist organizations.

As the conflict raged on, US military forces in Afghanistan began transferring Taliban fighters and suspected Al Qaeda members to Guantánamo Bay, Cuba, a permanent US naval base. Hundreds of detainees were held as enemy combatants, a classification given by the Bush administration, which stated that terror detainees were not protected by the Geneva Conventions. As a result, many people were subjected to enhanced interrogation techniques, which various international organizations, including the Red Cross, considered to be torture.

In September 2002, the Bush administration declared that the United States would use military force if necessary to prevent terrorists or “rogue states” from posing a threat to its national security, particularly those armed with weapons of mass destruction.

The Bush administration successfully obtained a UN Security Council resolution to return weapons inspectors to Iraq based on what would turn out to be inaccurate intelligence reports. Soon after, Bush declared that Iraq had failed to comply with inspections, and the United States launched a successful invasion of Iraq on March 20, 2003, quickly defeating the Iraqi military.

Baghdad, Iraq’s capital, fell on April 9, 2003, and on May 1, 2003, Bush personally declared the end of major combat operations. With a power vacuum, Iraq quickly devolved into a sectarian civil war.

Second Term as President

George W. Bush ran for re-election in 2004. Though the wars in Iraq and Afghanistan were not going well, and his efforts to reform Social Security were met with strong opposition, Bush’s political base remained loyal, and he was able to win reelection in November over Democratic challenger Senator John Kerry.

During his second term, Bush pushed for immigration reform, which was met with opposition from many conservatives, and relaxed environmental regulations, which was met with opposition from many liberals. The Bush administration’s poor response to Hurricane Katrina in New Orleans lowered his favorability rating even further.

The country faced enormous challenges in 2008, as George W. Bush entered the final year of his presidency. The United States was fighting two foreign wars, and the Clinton administration’s budget surplus had turned into a multi-trillion-dollar debt as a result of military spending, tax cuts, and slow economic growth.

The country was hit with a severe credit crisis in the early fall of 2008, which sent the stock market into free fall and resulted in massive layoffs. The Bush administration rushed to persuade Congress to pass the contentious $700 billion Emergency Economic Stabilization Act to bail out the housing and banking industries.

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Life After the White House

George W. Bush left office in January 2009, leaving a large amount of unfinished business and a low approval rating. The country was still politically divided. Critics blamed him for many of the country’s ills, while supporters defended him for his strong leadership during one of the country’s most dangerous periods.

Bush and his wife relocated to Dallas, Texas, where he helped build his presidential library and wrote his memoir “Decision Points.” Following the 2010 Haiti earthquake, Bush and former President Bill Clinton led private fundraising efforts in the United States for disaster relief at the request of President Barack Obama.

Bush returned to the media spotlight in 2013 after years of leading a relatively quiet life in Texas. He attended the dedication of the George W. Bush Library and Museum on the campus of Southern Methodist University in Dallas, Texas. Other living former presidents, including Bill Clinton and Bush’s father, as well as President Barack Obama, attended the event.

According to Fox News, Bush joked, “There was a time in my life when I wasn’t likely to be found at a library, let alone found one.” On a more serious note, Bush appeared to defend his presidency. “When people come to this library and research this administration, they’ll discover that we stuck to our convictions,” he said.

Throughout his political career, George W. Bush emphasized his Texas roots. It provided reasons for both his supporters’ and detractors’ support and criticism. His folksy image and demeanor suggested to some that he was “not ready for prime time,” that he was politically astute but not a statesman at a time when the country needed one.

Others saw him as a president of big ideas who eagerly embraced big visions and the risks they entailed. His supporters credit him with restoring America’s position as the world’s undisputed leader. He has been chastised internationally for his “cowboy diplomacy” in foreign affairs. Like many presidents before him, George W. Bush’s presidency will be remembered for both its successes and failures.

In July 2013, George W. Bush made history by joining President Barack Obama in Africa to commemorate the 15th anniversary of Osama bin Laden’s first attack on the United States—the first meeting on foreign soil between two U.S. presidents to commemorate an act of terrorism.

Later that summer, Bush experienced some health issues. He had surgery on August 6 to insert a stent into his heart to open a blockage in one of his arteries. The obstruction was discovered during his annual physical.

According to the Associated Press, Bush expressed his gratitude to “the skilled medical professionals who have cared for him” through a spokesperson. Bush also expressed gratitude “Thank you to his family, friends, and fellow citizens for your prayers and good wishes. And he encourages everyone to get regular check-ups.”

In October of that year, it was revealed that Bush’s heart condition was more serious than previously described. According to CNN.com, he had a 95% blockage in that artery prior to surgery. Bush would have died of a heart attack if he had not been treated.

As time passed and he became more distant from his presidency, Bush came to be regarded as a wise elder, offering measured tones in contrast to the volatile temperament of the 45th president, Donald Trump.

When Trump attempted to blame both sides of the racially charged protests in Charlottesville, Virginia, in the summer of 2017, Bush and his father issued a joint statement saying, “America must always reject racial bigotry, anti-Semitism, and hatred in all forms.”

The following winter, President Trump’s insistence that reports of Russian attempts to influence the 2016 U.S. presidential election were “fake news” was refuted by the younger Bush, who said there was “pretty clear evidence” that the Russians were involved.

In January 2018, CNN released a poll that found 61 percent of Americans favored the 43rd president, up from 33 percent when he left office nine years earlier.

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