Theodore Roosevelt Net Worth – How Did He Make Money? Exposed!

Theodore Roosevelt Net Worth 

Theodore Roosevelt had an estimated net worth of $125 million. A New York governor who became the 26th U.S. president, Theodore Roosevelt is remembered for his foreign policy, corporate reforms, and ecological preservation. Most of his wealth came from the fortune he inherited from his father. 

Cornelius, Theodore’s grandfather, inherited the Oyster Bay fortune from his father and grew it by becoming the first director at Chemical Bank of New York, which has become known today as JPMorgan Chase & Co. Metropolitan Museum of Art, American Museum of Natural History, and a number of children’s health businesses were founded by his father.

Before becoming Vice President of the United States, Theodore Roosevelt served as Governor of New York. After President William McKinley was assassinated in 1901, Roosevelt became the country’s youngest president at the age of 42. He was re-elected in 1904. Roosevelt, known for his anti-monopoly policies and environmental conservationism, was awarded the Nobel Peace Prize for his role in ending the Russo-Japanese War.

To calculate the net worth of Theodore Roosevelt, 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: Theodore Roosevelt
Net Worth: $125 Million
Monthly Salary: $20 Thousand
Annual Income: $5 Million
Source of Wealth: Inheritance

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Early Life

Roosevelt was born in New York City on October 27, 1858, to Theodore “Thee” Roosevelt Sr., of Dutch ancestry, and Martha “Mittie” Bulloch, a Southern belle rumored to be a prototype for Scarlett O’Hara in Gone with the Wind. His family ran a successful plate-glass import company.

Roosevelt, or “Teedie” to his family members (he disliked the nickname “Teddy”), spent a lot of time as a young boy inside his family’s handsome brownstone, homeschooled due to his illnesses and asthma. This allowed him to nurture his love of animals, but by his teens, with the encouragement of his father, whom he admired, Roosevelt had developed a rigorous physical regimen that included weightlifting and boxing.

When Roosevelt’s father died during his second year at Harvard, he channeled his grief into working even harder. He enrolled at Columbia Law School after graduating magna cum laude in 1880 and married Alice Hathaway Lee of Massachusetts.

Political Life

Roosevelt did not attend law school for long, instead choosing to join the New York State Assembly as a representative from New York City, becoming the youngest person to hold that position. Roosevelt quickly rose through the ranks of public service, including captain of the National Guard and minority leader of the New York Assembly.

However, the tragic deaths of Roosevelt’s mother and wife on the same day (February 14, 1884) forced Roosevelt to flee to the Dakota Territory for two years. He worked as a cowboy and cattle rancher there, leaving his infant daughter with his elder sister.

When Roosevelt returned to politics in 1886, he was defeated for mayor of New York City. Around the same time, he married Edith Kermit Carow, whom he had known as a child (they had watched Abraham Lincoln’s funeral procession from a window in his grandfather’s house on Union Square in New York City). Roosevelt quickly resumed his career as a civil service commissioner, then as a New York City police commissioner and Assistant United States Navy Secretary under President McKinley.

Roosevelt left his government position to organize a volunteer cavalry known as the Rough Riders, which he led in a daring charge up San Juan Hill in the Battle of San Juan Heights in 1898. Roosevelt, a war hero who was nominated for the Medal of Honor, was elected governor of New York in 1898.

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U.S. Presidency

Roosevelt’s progressive policies in New York enraged his own party, so Republican Party leaders plotted to silence him by naming him as McKinley’s vice president. However, President McKinley was assassinated shortly after his re-election in 1901. Roosevelt became the youngest president of the United States at the age of 42.

Roosevelt’s presidency is notable for his commitment to pursuing monopolies under the Sherman Antitrust Act. Out of this commitment grew the “Square Deal,” a domestic program that embraced workplace reform, government regulation of industry, and consumer protection, with the overall goal of helping all classes of people. Roosevelt’s charismatic personality, as well as his impassioned combination of pounding fists and emphatic rhetoric, undoubtedly aided in the advancement of his agenda.

Roosevelt walked his niece, Eleanor Roosevelt, down the aisle during the wedding ceremony for Eleanor and her fifth cousin once removed, Franklin D. Roosevelt, in 1905 (Theodore’s brother, Elliott, had died in 1894)

Around the same time, Roosevelt launched a massive public relations campaign, believing that America needed to reclaim its rightful place on the world stage. Using his unofficial policy of “Speak softly and carry a big stick,” Roosevelt bolstered the United States Navy and created the “Great White Fleet,” sending it on a world tour as a testament to American military power.

He also aided the Panama Canal’s completion by providing tacit approval of the Panama revolution with funds and a naval blockade that prevented Colombian troops from landing in Panama. In 1906, President Roosevelt received the Nobel Peace Prize for his role in negotiating the end of the Russo-Japanese War. Roosevelt believed that if Japan had destroyed Russia, it would create a power imbalance in the Pacific, which the US would eventually have to realign, but at a high cost.

The Roosevelt Corollary to the Monroe Doctrine, which claims the right to intervene in cases of wrongdoing by a Latin American or any other nation, was inspired by Roosevelt’s international stance, though some critics argue that the doctrine designates the United States as the “policeman” of the western world.

While Roosevelt supported desegregation and women’s suffrage, his administration’s approach to improving civil rights was often passive and contradictory. He defended Minnie Cox, a postmaster who faced racial discrimination in the South, and he strongly supported a woman’s right to vote in 1912. Roosevelt was also the first president to host an African American as a guest at the White House, Booker T. Washington. The political fallout from the event, however, was so severe that he never invited Washington back again.

One of Roosevelt’s less admirable civil rights actions occurred in 1906. The War Department Inspector General had looked into an incident in Brownsville, Texas, involving Black troops accused of going on a shooting rampage that killed one white person and injured another.

According to the Inspector General’s report, the president should fire the soldiers because none of them would confess. Roosevelt dismissed all 167 Black soldiers from the service after the November elections, after hundreds of thousands of Black people voted for Republican candidates across the North. Nobody would get their pensions.

Roosevelt is also known as the nation’s first environmentalist president. In 1906, he signed the National Monuments Act, which preserved the Grand Canyon and numerous wildlife refuges, national forests, and federal game reserves. He also advanced the nation’s infrastructure by initiating 21 federal irrigation projects.

When Roosevelt had the name “White House” emblazoned on his stationery, the presidential mansion became known as the White House.

McKim Mead and White, the most illustrious architects of the time, were hired to renovate the dilapidated mansion.

The White House served as a lively playground for the Roosevelts’ six children during his presidency; thanks in part to the president’s passion for sports and books, each room of the house was enlivened with activity, from crawl space to library. According to memoirs published in 1934 by Ike Hoover, the White House’s chief usher, “giving the pony a ride in the elevator was but one of many stunts” of the Roosevelt White House.

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Travel and Post-Presidency Politics

Roosevelt felt confident that he was leaving the country in capable hands when he left office in 1909; Roosevelt’s successor was his friend, former Secretary of War William Howard Taft. After traveling through Europe and the Middle East with his family as a child, as well as two years as a rancher in the Dakotas and numerous hunting trips, it seems only natural that Roosevelt’s next step would be to go on an African safari.

After two years of collecting specimens, speaking engagements, and traveling — including as special ambassador to England for King Edward VII’s funeral — Roosevelt became dissatisfied with Taft’s lax enforcement of progressive policies and decided to run for president again. To do so, however, Taft would have to launch a third-party campaign, as he was running on the Republican Party ticket.

As a result, Roosevelt established the Progressive Party, also known as the “Bull Moose Party,” and began campaigning for the 1912 presidential election. Roosevelt was shot in the chest during a campaign speech on the campaign trail in Milwaukee, Wisconsin, by John Nepomuk Schrank. He shockingly continued his speech for 90 minutes before seeing a doctor, later attributing the incident to the risks of the job.

In the 1912 election, Roosevelt was defeated by Woodrow Wilson in a close popular vote. He considered running again in 1916, winning the Progressive Party nomination, but lost to Republican Party nominee Charles Evans Hughes.

His political ambitions, on the other hand, would be far from over. When war broke out in Europe in 1914, Roosevelt became dissatisfied with Wilson’s stance on neutrality and repeatedly criticized the president’s policy. When the United States finally declared war, Roosevelt requested permission to command a volunteer division for service in France during World War I, but Wilson had the Secretary of War refuse him.

Roosevelt was proud that all four of his sons served in WWI, but he was heartbroken when his youngest son, Quentin, was shot and killed in Germany.

Death and Legacy

Doctors discovered Roosevelt had a weak heart when he was a young boy and advised him to get a desk job and not strain himself. He did, however, lead a more active life than most. Outside of politics, Roosevelt wrote more than 25 books on a variety of topics, including history, biology, geography, and philosophy. He also wrote a biography and an autobiography, The Winning of the West, which was published in four volumes.

Roosevelt died of a coronary embolism in his sleep on January 6, 1919, at his Long Island estate, Sagamore Hill. He was sixty years old. He was laid to rest in New York’s Youngs Memorial Cemetery.

Despite being denied the Medal of Honor for the Battle of San Juan Heights, Roosevelt received the honor — the highest award for military service in the United States — posthumously more than 100 years later, on January 16, 2001, Roosevelt was the first president to receive the Medal of Honor, conferred by President Bill Clinton.

Roosevelt’s zealous vision aided the country’s transition into the twenty-first century. His vision resulted in nearly 200 million acres of national forest and parkland, some of which can be seen from atop Mount Rushmore, where Roosevelt’s face is carved in memorial.

Further Reading

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