Ronald Reagan Net Worth
Ronald Reagan had an estimated net worth of $13 million at death. President Ronald Reagan helped redefine the purpose of government and pressured the Soviet Union to end the Cold War. He solidified the conservative agenda for decades after his presidency. He earned most of his income from his acting and political career.
Ronald Reagan began his career in show business, appearing in over 50 films. He met his future wife, Nancy (Davis) Reagan, while working as president of the Screen Actors Guild in Hollywood. He later served as governor of California for two terms.
Originally a liberal Democrat, Reagan ran for President of the United States as a Republican and won two terms beginning in 1980, eventually becoming a conservative icon over the years. Reagan died on June 5, 2004, after suffering from Alzheimer’s disease in his later years.
To calculate the net worth of Ronald Reagan, 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:
|Net Worth:||$13 Million|
|Monthly Income:||$30 Thousand|
|Annual Salary:||$400 Thousand|
|Source of Wealth:||Politician, Actor, Spokesperson, Radio Personality|
Early Life and Education
Ronald Wilson Reagan was born in Tampico, Illinois, on February 6, 1911, to John Edward “Jack” Reagan and Nellie Wilson Reagan. His father dubbed him “Dutch,” describing him as “a fat little Dutchman.”
Reagan’s family moved around during his childhood, eventually settling in Dixon, Illinois, in 1920, where Jack opened a shoe store. Reagan graduated from Dixon High School in 1928, where he was an athlete, student body president, and actor in school plays. During the summer, he worked as a lifeguard in Dixon.
Reagan majored in economics and sociology while attending Eureka College in Illinois on an athletic scholarship. There, he played football, ran track, captained the swim team, was president of the student council, and appeared in school plays. He found work as a radio sports announcer in Iowa after graduating in 1932.
Hollywood Career and Marriages
Reagan signed a seven-year contract with the film studio Warner Bros. in 1937. He appeared in over 50 films over the next three decades. One of his most well-known roles was as Notre Dame football star George Gipp in the 1940 biopic Knute Rockne, All American. Another notable performance was in the 1942 film Kings Row, in which Reagan played an accident victim who wakes up to find his legs amputated.
Reagan married actress Jane Wyman in 1940, and they had a daughter, Maureen, and adopted a son, Michael. In 1948, the couple divorced. Reagan was disqualified from combat duty during WWII due to poor eyesight and spent his time in the Army making training films. He left the military with the rank of captain.
Reagan was president of the Screen Actors Guild from 1947 to 1952. During this time, he met actress Nancy Davis, who had sought his assistance after being mistakenly listed on the Hollywood blacklist as a possible communist sympathizer.
Both were instantly attracted to each other, but Reagan was hesitant to marry again because of his painful divorce from Wyman. Nancy became his kindred spirit over time, and they married in 1952. Patricia Ann and Ronald were the couple’s two children.
In 1954, as Reagan’s film career began to wane, he landed a position as host of the weekly television drama series The General Electric Theater. As the host, he was responsible for touring the United States as a GE public relations representative.
During this time, his political views shifted from liberal to conservative; he led pro-business discussions, speaking out against excessive government regulation and wasteful spending — themes that would become central to his future political career.
Governorship and Presidential Bid
Reagan rose to national prominence in 1964, when he delivered a well-received televised speech for Republican presidential candidate and prominent conservative Barry Goldwater. Reagan won the California governorship two years later in his first race for public office, defeating Democratic incumbent Edmund “Pat” Brown Sr. by nearly one million votes. In 1970, he was re-elected for a second term.
Reagan received the Republican presidential nomination for the first time in 1980, after unsuccessful bids in 1968 and 1976. He defeated Democrat incumbent President Jimmy Carter in the general election that year, winning the electoral college (489 to 49) and nearly 51 percent of the popular vote. Reagan was the oldest person elected to the presidency of the United States at the time, at the age of 69.
1981 Inauguration and Assassination Attempt
Reagan declared rhetorically in his inaugural address on January 20, 1981, that “government is not the solution to our problems; government is the problem.” He advocated for a period of national renewal, hoping that America would once again serve as “a beacon of hope for those who do not have freedom.” He and Nancy Reagan also usher in a new era of White House glitz, with designer fashions and a contentious redecoration of the executive mansion.
Shots rang out as President Reagan exited the Washington Hilton Hotel with several of his advisers on March 30, 1981, and quick-thinking Secret Service agents threw the president into his limousine. When he was in the car, aides discovered he had been hit.
John Hinckley Jr., his would-be assassin, also shot three other people, none of whom were killed. Doctors determined at the hospital that the gunman’s bullet pierced one of the president’s lungs and narrowly missed his heart. Reagan, who is known for his sense of humour, later told his wife, “Honey, I forgot to duck.” Reagan was back at work within a few weeks of the shooting.
1984 Reelection and Gorbachev
Reagan was re-elected in a landslide in November 1984, defeating Democratic challenger Walter Mondale. Reagan won 49 of the 50 states in the election and 525 of 538 electoral votes, the most ever won by an American presidential candidate.
His second term, however, was marred by the Iran-Contra scandal, a convoluted “arms-for-hostages” agreement with Iran to funnel money to anti-communist insurgencies in Central America. Though he initially denied knowledge of it, Reagan later admitted that it was a mistake made in part at the request of the first lady.
During his second term, Reagan also established diplomatic ties with the Soviet Union’s reformist leader, Mikhail Gorbachev. The United States and the Soviet Union signed a historic agreement in 1987 to eliminate intermediate-range nuclear missiles.
That same year, Reagan addressed the Berlin Wall, a symbol of communism in Germany, and famously challenged Gorbachev to tear it down. More than two years later, Gorbachev allowed Berliners to demolish the wall, effectively ending Soviet dominance over East Germany. Reagan returned to Germany in September 1990, just weeks before the country was officially reunified, and took several symbolic swings at a remaining section of the wall with a hammer.
Later Years and Death
Reagan and Nancy returned to their home in Los Angeles, California, after leaving the White House in January 1989. In Simi Valley, California, the Ronald W. Reagan Presidential Library and Center for Public Affairs opened in 1991.
Reagan revealed in a handwritten letter to the American people in November 1994 that he had recently been diagnosed with Alzheimer’s disease. On June 5, 2004, he died at his Los Angeles home at the age of 93, making him the country’s longest-living president at the time.
Reagan was given a state funeral in Washington, D.C., and was later buried on the grounds of his presidential library in California. Nancy, his wife, died of heart failure in 2016 at the age of 94 and was buried at The Ronald Reagan Presidential Library and Center for Public Affairs.
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