George W. Bush is a millionaire many times over. With the former president speaking at John McCain’s funeral, many are wondering what he’s done since leaving the presidency and how much wealth he’s accumulated.
George W. Bush is not the wealthiest ex-president, but he’s a rich man. Bush served as the nation’s 43rd president, earning two terms in office and presiding over the country during the traumas of Sept. 11. What is George W. Bush’s net worth?
George W. Bush’s Net Worth
The net worth of George W. Bush and his wife, Laura Bush, is generally estimated to be around $35 million.
Here’s what you need to know:
1. Some of Bush’s Wealth Derives from the Texas Rangers Baseball Team
Before he was president and before he was governor of Texas, George W. Bush was wealthy enough to partially own a Major League Baseball team, the Texas Rangers. Some of his wealth still derives from that ownership stake.
Bush “became co-owner of the Texas Rangers baseball team, making some pivotal trades. By 1989, he sold his share of the team for 17 times his initial investment,” reported Bankrate.
Bush invested $600,000 in the team in 1989 but reportedly made almost $15 million from its 1998 sale.
2. Bush Owned Companies in the Oil Industry
As is common in Texas, Bush struck it rich in the oil fields. “In 1977, he created Arbusto Energy Inc., a Texas-based oil company, renaming it Bush Exploration in 1982. The company later merged with Spectrum 7 Energy Corp.,” reports Bankrate.
Bush’s father, former President George H.W. Bush, has a net worth of around $23 million, although much of it is tied up in property. When his father passes on, Bush is in line to inherit some of that estate, although he would presumably have to divide it with his many siblings.
3. George W. Bush Commands Large Speaking Fees
Being an ex-president can be very lucrative. For Bush, speaking fees are a way to bring in money. Bush earns $150,000 per speech, according to The Richest.
According to the Richest, Bush had earned $15 million in speaking fees through 2013 alone.
4. George W. Bush Served as President & Governor
George W. Bush’s net worth is also rounded out by pensions from his time in public service. In addition to serving two terms as U.S. president, Bush has served as governor of Texas.
In 2012, Bush earned $1.3 million in pension benefits. Former presidents get about $200,000 a year in pension payouts, but they have other perks, such as office space, travel funds, and Secret Service protection, according to MSNBC.
5. Bush Owns a Ranch & Other Property
In 2008, George W. Bush’s net worth was already approaching $10 million. Part of his wealth at that time was a ranch in McLean, Texas, which was worth $3 million.
You can see a list of his assets at that time here. In addition to real estate, they included government bonds, money market accounts, mining interests, and IRA accounts.
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