Net Worth Ranker
What Is Albert Einstein’s Net Worth?
At the time of his death on April 18, 1955, Albert Einstein’s net worth was estimated to be $65,000. Adjusted for inflation, this is equivalent to approximately $634,000 in today’s dollars. While seemingly modest compared to his immense scientific contributions and lasting fame, it reflects a life dedicated more to intellectual pursuits than financial accumulation. This amount represents the total value of his estate at the time of his passing, including any assets and possessions he held.
Einstein’s Earnings and Financial Life
Einstein’s early career was marked by financial instability. After graduating from the Swiss Federal Polytechnic School in Zurich in 1900, he struggled to find employment. In fact, he was one of the few graduates, out of nearly 2,000, who did not receive a job offer immediately after graduation. To make ends meet, he even resorted to advertising his services as a math tutor in local newspapers, offering the first lesson for free. His early financial struggles were compounded by his then-girlfriend and soon-to-be-wife, Mileva Marić’s pregnancy.
From 1902 to 1909, Einstein worked at the Swiss Patent Office in Bern, evaluating patent applications. This position provided him with a stable income, albeit a relatively modest one. His annual salary was 3,500 francs, which was equivalent to approximately $675 USD per year. Adjusted for inflation, that is around $15,000 per year in today’s dollars. While this job allowed him financial stability, it was during his spare time in the patent office that he developed his groundbreaking theories that would revolutionize the field of physics.
As Einstein’s reputation grew within the scientific community, his financial situation improved. By 1908, he was recognized as a leading figure and secured professorships at the University of Bern and later at Charles University in Prague in 1911. These positions provided him with increased financial security and the opportunity to travel the world, giving lectures at prestigious universities.
In 1921, Einstein was awarded the Nobel Prize in Physics for his explanation of the photoelectric effect. The prize money was 32,000 USD, which is equivalent to approximately $468,000 today. As part of their divorce settlement in 1919, Einstein had promised to give his first wife, Mileva Marić, the entire amount of the Nobel Prize money.
In 1933, with the rise of Nazi Germany, Einstein immigrated to the United States and accepted a position at the Institute for Advanced Study in Princeton, New Jersey. Initially, he was offered a salary of $3,000 per year, roughly equivalent to $60,000 per year today. However, his second wife, Elsa, negotiated with Princeton, securing a salary of $16,000 per year for the remainder of his life. That translates to around $321,000 per year in today’s dollars. This, combined with fees from speaking engagements and modest royalties on his copyrights, provided him with a comfortable income for the first time in his life. The Nazis confiscated all of Einstein’s assets that he had left behind, including bank accounts and his home, when he departed Germany.
The Legacy of Albert Einstein’s Intellectual Property and Royalties
Although Albert Einstein’s net worth during his lifetime was relatively modest, his intellectual property and legacy continue to generate significant income. After his death, all copyrights and intellectual property royalties were bequeathed to the Hebrew University in Jerusalem. Today, the university earns millions of dollars annually from Einstein’s royalties. These royalties come from various sources, including licensing of his name and likeness for commercial purposes.
A significant portion of the royalties is generated by the “Baby Einstein” product line, which alone brings in over $10 million per year. However, it’s important to note that Einstein’s direct descendants do not benefit financially from these royalties. For example, his granddaughter, Evelyn Einstein, faced financial hardship throughout her life, despite the vast wealth generated by her grandfather’s intellectual property. She passed away impoverished in 2011 at the age of 70.
According to the terms of his will, Einstein’s surviving children were bequeathed gifts ranging from $10,000 to $20,000. His grandson Bernhard received a modest sum of money and a violin, which Einstein considered his most cherished possession. His secretary of nearly three decades, Helen Dukas, also received several thousand dollars. The remainder of his estate was bequeathed to his stepdaughter Margot, Elsa’s daughter from a previous marriage.
Einstein’s will also stipulated that Helen Dukas and Otto Nathan, a fellow professor at Princeton and one of Einstein’s closest friends, were given control over his literary estate, copyrights, publications rights, and royalties. However, the financial benefits generated by these rights were designated to go to the Hebrew University in Jerusalem.
Einstein’s Personal Life and Possessions
Einstein’s personal life offers further insight into his financial values and priorities. While he achieved international fame and recognition, he maintained a relatively simple lifestyle. He was married twice, first to Mileva Marić, with whom he had a daughter and two sons, and later to Elsa Löwenthal, his cousin.
In 1929, Einstein used his life savings to build a dream home in Caputh, a lakeside town outside of Berlin. Unfortunately, this home was confiscated by the Nazis when he fled Germany in 1933. He settled into a position at the Institute for Advanced Study in Princeton, New Jersey, where he remained for nearly the rest of his life. In 1940, he became a citizen of the United States.
Einstein was also an advocate for civil rights and a critic of capitalism and war. He was a socialist and a pacifist, and he expressed strong opinions on political and social issues. In 1939, he wrote a letter to President Roosevelt, warning of the potential for Germany to develop atomic weapons, which led to the establishment of the Manhattan Project. Later in life, he expressed reservations about his role in advocating for the development of nuclear weapons and became a proponent of nuclear disarmament.
