Net Worth Ranker
What Is Dan Rather’s Net Worth?
Dan Rather, a prominent journalist and former national news anchor renowned for his extensive reporting career spanning five decades, has accumulated a net worth of $70 million. His career highlights include covering the Kennedy assassination in Dallas, which propelled him to CBS News, where he served as the White House correspondent. Subsequently, he anchored CBS Evening News for 24 years until the Killian documents controversy in 2005.
Early Life and Career Beginnings
Born in Wharton, Texas, on October 31, 1931, Dan Rather’s early life was shaped by his parents, Byrl Veda Page and Daniel Irvin Rather Sr., a ditch digger and pipe layer. His family relocated to Houston, where he attended Lovett Elementary School, Hamilton Middle School, and John H. Reagan High School. Rather pursued higher education at Sam Houston State Teachers College in Huntsville, earning a BA in journalism. During his college years, he gained experience by calling local football games for KSAM-FM radio. After graduating, he briefly studied at South Texas College of Law. Rather’s journalism journey began in 1950 as an Associated Press reporter. He further honed his skills at United Press and the Houston Chronicle, and various Texas radio stations. In the late 1950s, he served as the play-by-play announcer for the University of Houston football team for four seasons. His transition to television began with a reporting role at KTRK-TV, the ABC Houston affiliate, followed by a promotion to news director at KHOU-TV, the CBS Houston affiliate.
Hurricane Carla and Rise to Prominence
Rather’s career gained significant momentum in September 1961 when he covered Hurricane Carla for KHOU-TV, marking his first national broadcast. His reporting included television’s first radar image of a hurricane, which played a crucial role in convincing over 350,000 people to evacuate the area. This evacuation, the largest known at the time, saved countless lives and established Rather’s national reputation.
CBS News Career
In 1962, Rather joined CBS in New York City. Following a trial initiation, he was appointed chief of CBS’s Southwest bureau in Dallas. Later, he became chief of the Southern bureau in New Orleans. In November 1963, Rather was in Dallas during the Kennedy assassination and reported from the city during the national mourning period. Impressed by his work, CBS News management appointed Rather as the network’s White House correspondent in 1964. Over the next two years, he served as a foreign correspondent in London and Vietnam before returning to the United States to cover Nixon’s presidency. In the early 1970s, he reported on the Watergate scandal, the impeachment proceedings, and Nixon’s eventual resignation.
Further Career at CBS and CBS Evening News
Following Nixon’s resignation, Rather became chief correspondent for “CBS Reports,” and the following year, he was appointed as a correspondent for “60 Minutes.” Due to his success, Rather was promoted to managing editor of “CBS Evening News,” replacing Walter Cronkite as anchor in March 1981. During his tenure, ratings for “Evening News” fluctuated as alternative television news sources emerged. After falling to second place, Rather regained the top position from 1985 to 1989. In 1988, Rather became the host of the newly created “48 Hours.” From 1993 to 1995, he co-anchored “Evening News” with Connie Chung. Later, in 1999, he joined “60 Minutes II” as a correspondent. Over his CBS career, Rather covered major stories, including the Space Shuttle Challenger disaster, the Soviet-Afghan War, the Iran-Contra affair, and the 2003 invasion of Iraq. Shortly before the latter, Rather interviewed Iraqi dictator Saddam Hussein.
Killian Documents Scandal and CBS Departure
In September 2004, on “60 Minutes II,” Rather presented four documents criticizing George W. Bush’s 1972-73 service record in the Texas Air National Guard, less than two months before the presidential election. These documents, presented as factual memos from 1973, were later found to be unauthenticated. Typography experts concluded they were forgeries. Initially, CBS and Rather defended the story, claiming the memos were authenticated. However, CBS retracted the story shortly after. An investigation led to the firing of story producer Mary Mapes.
Salary and Contracts
Toward the end of his career, Dan Rather was earning an annual salary of $6 million from CBS. In 2005, Rather retired as anchorman and managing editor of “CBS Evening News” but remained with the network. However, in 2006, CBS announced it would not renew Rather’s contract and terminated his employment. In 2007, Rather filed a $70 million lawsuit against CBS, accusing the network and its ownership of scapegoating him in the Killian scandal. In 2009, a New York state appeals court dismissed Rather’s lawsuit. The lawsuit alleged that CBS breached his contract and damaged his reputation, seeking damages to compensate for lost earnings and professional standing. The details of Rather’s contracts with CBS, including specific clauses related to termination and severance, were central to the legal dispute. While the exact financial terms of his initial contracts are not publicly available, it is understood that his salary progressively increased throughout his tenure, reflecting his prominence and contribution to the network’s news division.
Post-CBS Career
After leaving CBS, Rather joined Mark Cuban’s cable network AXS TV, where he hosted and produced “Dan Rather Reports,” a weekly show, for seven years, until 2013. Following this, he began hosting and producing “The Big Interview with Dan Rather,” featuring in-depth interviews with entertainment figures. Additionally, Rather has a 30-minute newscast on “The Young Turks” YouTube news show and appears on programs like “The Rachel Maddow Show” and “The Last Word with Lawrence O’Donnell.”
Personal Life and Accolades
In 1957, Rather married Jean Goebel, and they have two children: daughter Robin, an environmentalist and activist in Austin, Texas, and son Dan, an assistant district attorney in Manhattan. Rather has received numerous Peabody Awards and a lifetime achievement award at the Emmys. In 2007, he received an honorary Doctor of Humane Letters from Siena College in New York.
Real Estate Assets
While specific details on Dan Rather’s real estate holdings are not widely publicized, it is common for individuals with a high net worth to invest in property. However, without concrete details, it’s impossible to provide addresses or specific property names.
Personal Investments
Specific details about Dan Rather’s investment portfolio are not publicly available. High-net-worth individuals like Rather typically diversify their investments across various asset classes, including stocks, bonds, mutual funds, and possibly private equity or venture capital. However, the exact names of companies or funds he may have invested in remain private.
