Net Worth Ranker
What Is Richard Bruce Cheney’s Net Worth?
Richard Bruce “Dick” Cheney, a prominent figure in American politics and business, has accumulated a significant net worth estimated at $150 million. This wealth stems from his extensive career in both the public and private sectors, with a notable portion attributed to his tenure as the CEO of Halliburton, a major energy services company.
Halliburton Earnings and Compensation
Cheney’s financial disclosures from 2000 reveal that he earned a total compensation of $72.5 million during his time as CEO of Halliburton (1995-2000). This included a $12.5 million base salary, $20 million in retirement benefits, and $40 million in stock options. These figures highlight the significant financial rewards associated with leading a major corporation in the energy sector. Furthermore, during his time in office as Vice President, Dick Cheney earned several million in deferred compensation, retirement benefits, and bonuses from Halliburton.
The impact of Cheney’s leadership on Halliburton’s position as a military contractor is also noteworthy. Before he became Vice President, Halliburton ranked as the 22nd-largest military contractor in the US. By 2003, the company had risen to the 7th position, indicating a substantial increase in government contracts and revenue.
Net Worth Disclosures and Comparisons
Dick Cheney’s 2008 wealth disclosure estimated his net worth to range between $20 million and $100 million. While this range provides a general idea of his financial standing at the time, the wide gap suggests the potential for fluctuations in asset values and investment performance. For comparison, President George W. Bush’s net worth was estimated to be between $7 million and $20 million during the same period.
Early Life and Education
Born on January 30, 1941, in Lincoln, Nebraska, Richard Bruce Cheney spent his formative years in Casper, Wyoming. His father, Richard, worked for the U.S. Department of Agriculture as a soil conservation agent, while his mother, Marjorie, had been a successful softball player in the 1930s. Dick attended College View Elementary School (now called Calvert Elementary School) in Lincoln and Natrona County High School in Casper, where he served as senior class president and captain of the football team.
Cheney’s early academic pursuits included attending Yale University, although he dropped out after less than two years due to poor grades. He later attended Caspar College and eventually earned a Bachelor of Arts and a Master of Arts in political science from the University of Wyoming. Before entering politics, he started studying for a doctorate at the University of Wisconsin–Madison but dropped out in 1966 to become a staff aide to Governor Warren Knowles.
Political Career
Cheney’s political career began in 1968 when he was awarded an American Political Science Association congressional fellowship. This fellowship led him to Washington, DC, where he worked as an intern for Congressman William Steiger. From 1969 to 1970, Cheney served under Donald Rumsfeld in the Office of Economic Opportunity, later becoming a White House Staff Assistant and Assistant Director of the Cost of Living Council. He then worked as Deputy Assistant to the President and White House Chief of Staff during Gerald Ford’s administration. He also took on the role of campaign manager for Ford’s 1976 presidential campaign.
In 1978, Cheney was elected to the U.S. House of Representatives, representing Wyoming. He was re-elected five times, serving as Chairman of the House Republican Policy Committee from 1981 to 1987. He was elected House Minority Whip in 1988 before leaving the House in 1989 to serve as George H.W. Bush’s Secretary of Defense until 1993. During his time as Secretary of Defense, Cheney oversaw military campaigns such as Operation Just Cause and Operation Desert Storm. In recognition of his service, he was awarded the Presidential Medal of Freedom and the U.S. Senator John Heinz Award for Greatest Public Service by an Elected or Appointed Official.
Private Sector Career
After leaving the Department of Defense in 1993, Cheney joined the American Enterprise Institute and served his second term as a director of the Council on Foreign Relations from 1993 to 1995 (he served his first term from 1987 to 1989). He then served as CEO and Chairman of the Board for Halliburton from 1995 to 2000 and reportedly received a $20 million retirement package when he resigned to join George W. Bush’s administration.
Halliburton’s subsequent legal challenges, including a shareholder class-action lawsuit alleging securities fraud (settled for $100 million in 2016) and corruption charges filed by the Nigerian government (resolved with a $250 million settlement in 2010), underscore the complexities and potential financial risks associated with leading a large multinational corporation.
Vice Presidency
As Vice President under George W. Bush from 2001 to 2009, Cheney played a significant role in shaping White House policy, particularly regarding foreign policy, environmental policy, and the treatment of prisoners of war. His influence was especially pronounced in the administration’s response to the “War on Terror,” where he advocated for the existence of weapons of mass destruction in Iraq and its ties to Al Qaeda.
Cheney twice assumed the role of acting president while Bush underwent minor medical procedures requiring sedation. The first instance occurred on June 29, 2002, from 11:09 a.m. to 1:24 p.m., and the second on July 21, 2007, from 7:16 a.m. to 9:21 a.m. These brief periods highlight the constitutional protocols in place for presidential incapacitation.
On February 27, 2007, while Cheney was visiting Bagram Airfield in Afghanistan, a suicide bombing occurred outside the front gate, resulting in 23 fatalities and 20 injuries. The Taliban claimed responsibility, asserting that Osama Bin Laden had authorized the attack and that Cheney was the intended target. This event underscored the security risks associated with high-profile political figures in conflict zones.
Cheney’s support for the administration’s “enhanced interrogation program,” involving waterboarding, drew considerable criticism, contributing to a low approval rating of 13% at the end of his vice presidency. This highlights the controversial nature of certain policies implemented during his time in office.
Post-Vice Presidency
After leaving public office, Cheney co-authored two books with his daughter Liz: “In My Time: A Personal and Political Memoir” (2011) and “Exceptional: Why the World Needs a Powerful America” (2015). These publications provided insights into his political views and experiences during his career. He underwent a heart transplant on March 24, 2012, two years after experiencing his fifth heart attack, highlighting the health challenges he faced.
Real Estate Holdings
Cheney’s real estate portfolio includes several properties. On January 12, 2000, he purchased a lot in McLean, Virginia, for $1.35 million, where he later constructed a 12,765-square-foot home in 2008. In 2005, he acquired a waterfront estate in Saint Michaels, Maryland, for $2.67 million, which he sold for $2.1 million in 2019. He also owns a home in Wyoming. These real estate investments represent a significant component of his overall wealth.
Personal Life
Cheney married Lynne Vincent, his high school sweetheart, in 1964. They have two daughters: Elizabeth, born on July 28, 1966, and Mary, born on March 14, 1969. Liz followed in her father’s footsteps and took over his former congressional seat in 2017, while Mary served as the Director of Vice Presidential Operations for Bush and Cheney’s re-election campaign. Liz is married to Philip J. Perry and has five children, and Mary and her wife, Heather Poe, have two children.
Cheney publicly supported same-sex marriage after leaving office, encouraging Maryland lawmakers to legalize it in 2012. This stance reflected a shift in his views on social issues over time.
On February 11, 2006, Cheney was involved in a hunting accident in Kenedy County, Texas, where he accidentally shot acquaintance Harry Whittington while quail hunting. Whittington sustained birdshot wounds to his chest, neck, and right cheek and experienced a heart attack and atrial fibrillation due to a pellet’s proximity to his heart. Despite the severity of the incident, Whittington survived, and Cheney was cleared of criminal wrongdoing by the Kenedy County Sheriff’s Office.
