George Walker Bush was the 43rd president of the United States. He is also a shrewd businessman with an estimated net worth of $50 million. Also known as Bush Junior, George W. Bush made profitable investments before and after his presidency.
Discover the financial perspective on George W. Bush’s net worth and the factors contributing to his wealth.
Biography of George W Bush
Early Life
George W Bush was the first of six children of George H.W. Bush and Barbara Bush. He comes from a prominent political family with a long history of notable impact in American politics. His father was the 41st president, serving between 1989 and 1993.
His grandfather, Prescott Bush, was a U.S Senator from Connecticut between 1952 and 1963. His brother, Jeb Bush, was the 43rd governor of Florida.
George Bush grew up in Texas. He attended the same school as his father, Philips Academy, in Massachusetts. He enrolled at Yale University, the same school his father, Bush Senior, attended. His grandfather graduated from Yale University too.
He graduated with a bachelor’s degree in history. At the University, George Bush was the President of his fraternity and a member of the Skull and Bones. Skull and Bones is a secret society joined by senior students at Yale University, New Haven. Three former U.S. Presidents, Willian Howard Taft, and the two Bushes, were members of this society.
In 1968, shortly before his graduation, George Bush applied to join the Texas Air National Guard as a pilot trainee. Pilots were less likely to go into active combat than regular soldiers. In 1968, Bush was commissioned as a second lieutenant; by 1970, he was already a certified fighter pilot.
In 1970, George W Bush applied to the University of Texas School of Law but was not accepted. In 1973, he was granted an early honorable discharge from the army to start Harvard Business School. He graduated from Harvard in 1975 with an M.B.A. and returned to Midland, Texas. He worked for a family friend, an oil and gas attorney.
Bush started his oil and gas company, Arbusto Energy, in 1977. Although he received many notable investors, the firm struggled through the 1980s. In 1984, Arbusto Energy merged with Spectrum 7 Energy Corp. When oil prices collapsed in 1986, George W. Bush sold Spectrum 7 to Harken Energy Corporation. Bush served as a consultant to Harken Energy Corp and a member of the board of directors.
Personal Life
George W. Bush met and married Laura Welch in 1977. She was a reserved teacher and librarian. The couple brought forth girl twins in 1981 and named them Jenna and Barbara Bush.
The girls were in college during George Bush Junior’s tenure. Jenna Bush went to the Univerity of Texas, while Barbara enrolled at Yale University. The two worked at their father’s presidential reelection bid in 2004.
Political Career
Presidency
Being the son of former president George Herbert Walker Bush, Bush Junior knew he was a future politician, possibly a future president. he was the American President from 2001 to 2009. President Barack Obama took over office on January 20, 2009.
In 2001, President W. Bush capitalized on the strength of the Republican party and proposed a tax-cut bill worth $1.6 trillion. In June 2001, Congress passed a $1.35 billion compromise amidst resistance from the Democrats.
When Sen. James Jeffords left the Republican party, President Bush lost control of the Senate. Most of his initiatives faced stiff resistance in the Senate.
George Bush had perfect and ambitious plans for U.S. domestic policy. After the September 11 terror attacks, these plans crumbled. Soon the Iraq and Afghanistan wars followed, becoming the primary focus of the Republican President’s tenure.
The wars proved helpful in the Bush Junior’s successful re-election campaign. George Bush had rough presidential terms. The terror attacks and the wars reduced his approval rates. The 2007-2008 financial crisis was the final nail in the coffin.
Take a Look at George W. Bush – The United States’ 43rd President | Mini Bio | Biography:
Controversy
To the eye, George W. Bush was a perfect president. Many believe he was offered leniency in the military because of his father, George H.W. Bush. His military service has holes, and he was never called to fight in Vietnam. These issues raise the eyebrows of many American People.
Bush Junior has a history of alcohol abuse. He was once issued with a DUI with a fine. His presidential win was highly questioned as he did not win the popular vote. There were questions about a vote recount in Florida.
Quick Facts about George W. Bush
| Name: | George W. Bush |
| Date of Birth: | July 6, 1946 |
| Gender: | Male |
| Marital Status: | Married to Laura Bush |
| Children: | Twin Girls, Jenna and Barbara Bush |
| Profession: | Businessman, Politician, Former U.S President |
| Nationality: | American |
| Net worth: | Approximately $50 million |
How Much Is George W. Bush’s Net Worth?
Former U.S. President George Bush made savvy business investments before and after his presidential terms. The former President has an estimated net worth of $50 million.
Assets & Investments
After the 1988 presidential elections, George W. Bush returned to Dallas to invest in a baseball club, the Texas Rangers. He mobilized a group of investors to buy the club. Although his financial investment was small, his club management made him a popular businessman.
Before serving two consecutive terms in the White House, George W. Bush was a politician for over forty years. Such a long political career must come with many assets and investments. Bush Junior’s investments span from real estate, luxury cars, and yachts, and over $25 million in bank deposits and government bonds.
Real Estate
The primary residence of George W. Bush and his wife, Laura Bush, is in the Preston Hollow neighborhood of North Dallas. The couple also has another luxury home near Crawford, a 1500-acre ranch.
How George Bush Made His Millions?
The first major business venture of the former President was the launch of the oil and gas company in 1977. After the 1984 merger with Spectrum, Bush Junior became the CEO of the new firm with a yearly salary of $75,000. He held $1.1 million in shares of the company. In 1986, Harken Energy acquired Spectrum 7.
He left for D.C., where he was a presidential campaign advisor to his father, George Herbert Walker Bush. One of his most profitable business investments was the purchase of the Texas Rangers. He invested $500,000 in 1988 and sold his shares for $15 million ten years later.
Who Inherited George Bush’s Fortune?
Bush Senior was a wealthy politician. When he died in 2018, he left George W. Bush with a $35 million fortune.
When George W. Bush dies, his fortune will go to his two daughters, Jenna and Barbara. 20 percent of his net worth will go to a charitable trust fund that Bush Junior’s brother, Jeb Bush, manages.
FAQs
Who is The Number 1 Richest Person in the World?
Bernard Arnault of LVMH is the world’s richest man, with an estimated net worth of $207.1 billion.
Had George Bush’s Economy Been Successful?
George W. Bush faced tough economic and budgetary times with two major recessions.
How Many Bills Did George Bush Pass?
President Bush Junior signed 56 legislations.
Conclusion
Former President George W. Bush is a wealthy American politician with decades of experience. He comes from a prominent political family. Besides politics, Bush Junior is a savvy businessman with investments spanning different industries. With a net worth of around $50 million, George W. Bush is among the wealthiest politicians in the United States.
