Franklin D. Roosevelt, has a net worth of $60 million.
The 32nd President of the United States, is renowned for his leadership during the Great Depression and World War II.
However, delving into his financial standing unveils a tale of inherited wealth, familial connections, and a legacy that extends far beyond politics.
Let’s embark on a journey to uncover the net worth of Franklin D. Roosevelt and gain a deeper understanding of the man behind the presidency.
Franklin D. Roosevelt Net Worth
Franklin D. Roosevelt, a politician and lawyer, served as the 32nd president of the United States from 1933 until his passing in 1945.
His net worth, adjusted for inflation, was $60 million.
He was elected to four terms, making him a central figure in historic events like the Great Depression and World War II.
He played a key role in passing major laws such as the New Deal and the Fair Labor Standards Act.
Before his presidency, he served as a member of the New York State Senate for the 26th District from 1911 to 1913.
He then became Assistant Secretary of the Navy from 1913 to 1920. Later, from 1929 to 1932, he served as the 44th Governor of New York.
Roosevelt was President during the 1941 attack on Pearl Harbor, which he famously called “a date which will live in infamy.”
Despite criticism for actions like the internment of Japanese Americans, he’s widely seen as one of the best US presidents.
Early Life and Education
Franklin D. Roosevelt was born on January 30, 1882, in Hyde Park, New York, to James Roosevelt I and Sara Delano.
Both came from wealthy and influential families.
He had an older half-brother named James from his father’s previous marriage.
During his childhood, Roosevelt frequently traveled to Europe with his family, becoming fluent in French and German.
He spent a year attending public school in Germany but was mainly homeschooled until he turned 14.
Afterward, Roosevelt attended Groton School in Massachusetts, and later Harvard College, where he served as a cheerleader and was the editor-in-chief of the Harvard Crimson paper.
It’s worth noting that during his time in college, his fifth cousin, Theodore, became the President of the United States.
Upon graduating from Harvard with a degree in history in 1903, Roosevelt entered Columbia Law School.
However, he dropped out after passing the New York Bar Exam in 1907.
The following year, Roosevelt joined the law firm of Carter Ledyard & Milburn.
Franklin D. Roosevelt’s Political Career
In 1910, dissatisfied with his law career, Roosevelt decided to enter politics.
He won a seat in the New York State Senate, benefiting from his name recognition and the Democratic landslide in the US elections.
He was reelected in 1912 and then became the chairman of the Agriculture Committee. In this role, he successfully passed farm and labor legislation.
Because of his support for President Woodrow Wilson, Roosevelt was appointed Assistant Secretary of the Navy by Wilson in 1913.
He held this position until 1919, gaining experience in labor and naval issues, as well as wartime management.
During World War I, he helped establish the US Navy Reserve and the Council of National Defense.
In 1920, Roosevelt aimed for the vice presidential nomination and joined the Democratic ticket as the running mate of James M. Cox. However, they lost to Warren G. Harding and Calvin Coolidge.
Polio and Comeback
After losing the 1920 election, Roosevelt went back to law and assumed the role of vice president at the Fidelity and Deposit Company.
It was during this period that he contracted polio, a paralytic illness that left him paralyzed from the waist down.
In his efforts to recover, Roosevelt established a rehabilitation center in Warm Springs, Georgia.
Despite his disability, Roosevelt reentered public office in 1929 as the governor of New York.
Over his two terms until 1932, he implemented several programs to tackle the Great Depression.
This included setting up a state employment commission, founding the Temporary Emergency Relief Administration to distribute economic relief funds, and becoming the first governor to publicly support unemployment insurance.
Franklin D. Roosevelt’s First Presidential Term
In the 1932 presidential election, Roosevelt, the Democratic candidate, defeated Republican incumbent Herbert Hoover.
Taking office amidst the ongoing Great Depression, he immediately launched an unprecedented amount of federal legislation.
Within his first year, Roosevelt devised and began implementing initiatives focused on economic relief, recovery, and reform.
These efforts were collectively known as the New Deal.
Key New Deal programs included the National Recovery Administration and the Agricultural Adjustment Act.
Additionally, Roosevelt enacted significant regulatory reforms in finance, labor, and communications.
Addressing Prohibition, Roosevelt sought compromise within the Democratic Party.
In 1933, he introduced the Beer Permit Act and enforced the 21st amendment, repealing the 18th amendment’s alcohol ban.
Among other notable actions in his first term, Roosevelt utilized radio to communicate directly with the American public, pioneering “fireside chats” and becoming the first US president to be televised.
Second and Third Presidential Terms
Roosevelt quickly boosted the economy during his first term and won reelection in 1936 by a huge margin, one of the biggest in US history.
But in his second term, he faced a lot of political opposition because the conservative Supreme Court kept rejecting his New Deal laws.
However, he had better luck with other laws, like the National Labor Relations Act and the Fair Labor Standards Act.
He also set up the Securities and Exchange Commission and social security.
In 1940, Roosevelt made history by winning a third term as president, the only one to do so.
With World War II looming, he passed laws to stay neutral.
But after Japan attacked Pearl Harbor in 1941, he declared war on Japan.
This dragged the US into World War II as part of the Allies.
During the war, Roosevelt focused on gearing up the US economy for the fight, pushing the Lend-Lease program to help defeat Nazi Germany.
He also played a big part in creating the United Nations.
Thanks to his leadership during the war, the United States became a major world power.
Franklin D. Roosevelt’s Final Presidential Term
Roosevelt won his fourth term in 1944, promising to help the country recover after the war.
But just three months into his term in 1945, he died at 63 because he was very sick.
Vice President Harry S. Truman became president and led the surrender of the Axis Powers, ending World War II.