Margaret Thatcher Net Worth at Death – Salary, Income, Earnings

Margaret Thatcher Net Worth

Margaret Thatcher had an estimated net worth of $10 million at death. The first female prime minister of Britain, Margaret Thatcher was a controversial figurehead of conservative ideology during her time in office. She earned most of her income from her political career. 

Margaret Thatcher was elected Prime Minister of the United Kingdom in 1979, the first woman to hold the position. During her three terms, she reduced social welfare programs, weakened labor unions, and privatized certain industries. Thatcher resigned in 1990 as a result of unpopular policies and power struggles within her own party. She passed away on April 8, 2013, at the age of 87.

To calculate the net worth of Margaret Thatcher, subtract all her liabilities from her total assets. Investments, savings, cash deposits, and any equity she 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 her net worth:

Name: Margaret Thatcher
Net Worth: $10 Million
Monthly Salary: $25 Thousand
Annual Income: $400 Thousand
Source of Wealth: Lawyer, Chemist, Scientist, Politician, Statesman, Barrister

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Early Life

Margaret Hilda Roberts was born on October 13, 1925, in Grantham, England. Thatcher, nicknamed the “Iron Lady,” was the Prime Minister of England from 1979 to 1990. She attended Grantham Girls’ High School after attending a local grammar school as the daughter of a local businessman. Her family ran a grocery store and all lived in an apartment above it. Thatcher was introduced to conservative politics as a child by her father, who served on the town council.

Thatcher was a good student who was accepted to Oxford University to study chemistry at Somerville College. Dorothy Hodgkin, a Nobel Prize-winning scientist, was one of her professors. Thatcher was politically active in her youth, serving as president of the Conservative Association at university. She received her chemistry degree in 1947 and went on to work as a research chemist in Colchester. Later, in Dartford, she worked as a research chemist.

Early Foray into Politics

Thatcher ran for public office for the first time two years after graduating from college. In the 1950 elections, she ran as the conservative candidate for a Dartford parliamentary seat. Thatcher knew from the start that taking the position away from the liberal Labour Party would be nearly impossible.

Nonetheless, her speeches earned her political party colleagues’ respect. Despite her defeat, Thatcher remained undeterred, attempting again the following year, but failing once more. She married Denis Thatcher two months after her loss.

Thatcher took a break from politics to study law in 1952. The following year, she and her husband welcomed twins Carol and Mark. Thatcher qualified as a barrister, a type of lawyer, in 1953 after completing her training. She didn’t, however, stay away from politics for long. Thatcher was elected to the House of Commons in 1959 to represent Finchley.

Thatcher, clearly a rising star, was appointed parliamentary under secretary for pensions and national insurance in 1961. When the Labour Party took control of the government, she joined the Shadow Cabinet, a group of political leaders who would hold Cabinet-level positions if their party were in power.

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Britain’s First Female Premier

When the Conservatives retook power in June 1970, Thatcher was named secretary of state for education and science, and she was dubbed “Thatcher, milk snatcher” due to her repeal of the universal free school milk scheme. She found her position frustrating, not because of the negative publicity surrounding her actions, but because she couldn’t get Prime Minister Edward Heath to listen to her ideas.

During a 1973 television appearance, Thatcher was quoted as saying, “I don’t think there will be a woman prime minister in my lifetime,” indicating her dissatisfaction with the future of women in politics.

Thatcher was quickly proven wrong. While the Conservative Party lost power in 1974, Thatcher emerged as a dominant force within her party. She was elected Conservative Party leader in 1975, defeating Heath for the position.

With this victory, Thatcher became the first woman to serve as the House of Commons opposition leader. England was in economic and political turmoil, with the government on the verge of bankruptcy, unemployment on the rise, and clashes with labor unions. This insecurity aided the Conservatives’ return to power in 1979. Thatcher made history as the party’s leader in May 1979, when she was appointed Britain’s first female prime minister.

Conservative Leadership

Thatcher battled the country’s recession as prime minister by initially raising interest rates to control inflation. She was best known for destroying Britain’s traditional industries by attacking labor unions such as the miner’s union, as well as for massive privatization of social housing and public transportation. US President Ronald Reagan, a fellow conservative, was one of her staunchest supporters. Both shared right-wing, pro-corporate political ideologies.

During her first term, Thatcher faced a military challenge. Argentina invaded the Falkland Islands in April 1982. Because the islands are located off the coast of Argentina, this British territory has long been a source of contention between the two countries. Thatcher acted quickly, sending British troops to the territory to retake the islands in what became known as the Falklands War. Argentina formally surrendered in June 1982.

Thatcher handled a number of conflicts and crises during her second term, from 1983 to 1987, the most jarring of which may have been an assassination attempt against her in 1984. She was supposed to be killed by a bomb planted at the Conservative Conference in Brighton in October as part of an Irish Republic Army plot. Undaunted and unharmed, Thatcher insisted on continuing the conference and delivered a speech the next day.

In terms of foreign policy, Thatcher met with Soviet leader Mikhail Gorbachev in 1984. That same year, she signed an agreement with the Chinese government regarding Hong Kong’s future.

Thatcher publicly supported Reagan’s air raids on Libya in 1986, allowing US forces to use British bases to help carry out the attack.

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Resignation

Returning for a third term in 1987, Thatcher sought to implement a national educational curriculum and reform the country’s socialized medical system. Her efforts to implement a fixed rate local tax—dubbed a poll tax by many because she sought to disenfranchise those who did not pay it—lost her a lot of support. This policy was extremely unpopular, resulting in public protests and internal party strife.

Thatcher initially pushed for party leadership in 1990, but eventually succumbed to pressure from party members and announced her resignation on November 22, 1990.

She stated in a statement, “After extensive consultation with colleagues, I have concluded that the Party’s unity and chances of victory in a General Election would be better served if I stepped down to allow Cabinet colleagues to run for the leadership. I’d like to thank everyone in Cabinet and outside who has given me such unwavering support.” Thatcher left 10 Downing Street, the prime minister’s official residence, for the final time on November 28, 1990.

Life After Politics

Thatcher was appointed to the House of Lords as Baroness Thatcher of Kesteven in 1992, not long after leaving office. In two books, The Downing Street Years (1993) and The Path to Power (1997), she wrote about her experiences as a world leader and a trailblazing woman in politics (1995). She published her book Statecraft in 2002, in which she discussed international politics.

Thatcher suffered a series of minor strokes around this time. Her husband of more than 50 years, Denis, died in 2003, causing her great personal loss. Thatcher had to say goodbye to an old friend and ally, Ronald Reagan, the following year.

In failing health, Thatcher delivered a video-link eulogy at Reagan’s funeral, praising Reagan as a man who “sought to mend America’s wounded spirit, restore the strength of the free world, and free the slaves of communism.”

Thatcher celebrated her 80th birthday in 2005. Queen Elizabeth II, Tony Blair, and nearly 600 other friends, family members, and former colleagues attended a large event in her honor. A sculpture of the strong conservative leader was unveiled in the House of Commons two years later.

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Final Years and Death

Thatcher’s health made headlines in 2010, when she skipped David Cameron’s 85th birthday celebration at 10 Downing Street. Thatcher later spent two weeks in the hospital in November 2010 for a condition that was later revealed to cause painful muscle inflammation.

She missed a number of major events in 2011, including Prince William’s wedding in April and the unveiling of the Ronald Reagan sculpture in London in July. Furthermore, Thatcher’s office in the House of Lords was permanently closed in July 2011. Some consider the closure to be the end of her public life.

Thatcher retreated from the spotlight in her later years, living in near seclusion at her home in London’s Belgravia neighborhood, battling memory problems caused by her strokes.

Thatcher died at the age of 87 on April 8, 2013. Her two children, daughter Carol and son Sir Mark, survived her.

Legacy, Movie and ‘The Crown’

Thatcher’s policies and actions are still being debated by detractors and supporters alike, demonstrating the indelible mark she has left on Britain and nations around the world.

The biopic The Iron Lady, starring Meryl Streep, was released in 2011. Season 4 of The Crown starred Gillian Anderson as the former Prime Minister.

Further Reading

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