Net Worth Ranker
What Is Elizabeth Dole’s Net Worth?
Elizabeth Dole, a prominent figure in American politics, boasts a net worth of approximately $40 million. This substantial financial standing is a result of her extensive career in public service and strategic financial management over the years. While specific details about the composition of her assets are not publicly itemized like a musician’s royalties or a company’s balance sheet, her financial disclosures during her time in office provide some insights.
Financial Disclosures and Earnings
In 1996, during her husband Bob Dole’s presidential campaign, the couple estimated their combined net worth to be between $2.3 million and $7.7 million. Adjusted for inflation, that range would be approximately $4 million to $13 million in today’s dollars. At that time, Bob Dole earned a Senator’s salary of $148,000 per year, along with $10,000 annually from speaking fees and $18,660 in military retirement benefits. Elizabeth, on the other hand, earned significantly from speaking engagements, exceeding $100,000 per year. Specifically, she made around $900,000 from speaking fees in a three-year period spanning from 1991 to 1994. It is worth noting that Elizabeth frequently donated a significant portion of her speaking earnings to the Red Cross, reflecting her commitment to philanthropic causes.
A later financial disclosure in 2007, during Elizabeth’s tenure as a Senator, indicated a notable increase in the Doles’ estimated net worth. The disclosure placed their combined assets between a minimum of $14 million and a maximum of $49 million. This considerable range highlights the potential fluctuations in asset values and the complexities of tracking exact figures for individuals with diverse investments and financial holdings. Without detailed breakdowns of specific investments or assets, these figures offer a general overview of the Doles’ financial standing during that period.
Early Life and Education
Born Mary Elizabeth Alexander Hanford on July 29, 1936, in Salisbury, North Carolina, Elizabeth Dole’s early life laid the foundation for her future success. After completing high school, she attended Duke University, where she pursued a degree in political science. Her academic achievements were evident through her membership in Phi Beta Kappa, a prestigious academic honor society. She was actively involved in campus life, participating in the chapel choir and serving as president of the women’s student government association. These early experiences cultivated her leadership skills and fostered her interest in public service.
Following her graduation from Duke, Dole furthered her education with postgraduate work at Oxford in 1959. Subsequently, she spent a year as a student teacher at Melrose High School in Massachusetts, gaining practical experience in education. Driven by a desire to expand her knowledge and expertise, she enrolled in a master’s degree program in education at Harvard University, followed by the law program. In 1965, she earned a J.D. from Harvard, a remarkable accomplishment considering she was one of only 24 women in a class of 550 students. This rigorous academic background equipped her with the intellectual tools and legal acumen necessary for her future endeavors in politics and public policy.
Career Highlights and Milestones
Elizabeth Dole’s career is marked by numerous significant milestones and contributions to American politics and public service. Her involvement in politics began early, as she campaigned for the Kennedy-Johnson presidential ticket in 1960. In 1967, she started working as a staff assistant to the Secretary of Health, Education, and Welfare in the Lyndon B. Johnson administration, gaining valuable experience in government operations. When Richard Nixon succeeded Johnson as president, Dole continued her service as deputy assistant to President Nixon for consumer affairs from 1969 to 1973, advocating for consumer rights and protections.
In 1973, Dole was appointed to a seven-year term on the Federal Trade Commission (FTC), where she played a crucial role in regulating commerce and protecting consumers from unfair business practices. She later resigned from the FTC to support her husband, Bob Dole, in his 1980 presidential campaign. In 1981, she served as the director of the White House Office of Public Liaison until 1983, facilitating communication and collaboration between the White House and various public groups. From 1983 to 1987, she held the position of United States Secretary of Transportation under President Ronald Reagan, where she focused on improving transportation infrastructure and safety. She was also tasked with chairing various committees that sought to reform federal and state laws to ensure equal rights for women, demonstrating her commitment to gender equality.
From 1989 to 1990, Dole served as the United States Secretary of Labor under President George H. W. Bush, becoming the first woman to hold Cabinet positions in two different presidential administrations. Her tenure in both roles centered on enhancing public safety and promoting workplace safety and health. In 1991, Dole assumed the presidency of the American Red Cross, a position she held until 1999. As only the second woman to lead the organization since its founding by Clara Barton in 1881, she restructured the Red Cross and transformed the way it collects, tests, and distributes half of the nation’s blood supply. These accomplishments underscore her exceptional leadership abilities and her dedication to humanitarian causes.
In 1999, Dole launched a campaign for the Republican nomination in the 2000 United States presidential election. Although she ultimately withdrew from the race before the primaries due to inadequate fundraising, she was considered by George W. Bush as a potential vice presidential nominee, though he eventually chose Dick Cheney. In late 2001, Dole moved from Washington, D.C., to Salisbury, North Carolina, to pursue election to the U.S. Senate following Senator Jesse Helms’ retirement. She won the Republican primary with 80% of the vote and then defeated her Democratic opponent in the general election to secure the Senate seat. In 2004, she became chairman of the National Republican Senatorial Committee (NRSC), making her the first woman to chair the NRSC. During her time as a Senator, she served on several committees, including the U.S. Senate Committee on Armed Services, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, the U.S. Senate Committee on Aging, and the U.S. Senate Committee on Small Business and Entrepreneurship.
Senate Career and Post-Political Activities
As a Senator, Elizabeth Dole was generally regarded as conservative in her political views, which was reflected in her voting record. In 2004, she took on the role of chairman of the National Republican Senatorial Committee (NRSC), marking her as the first woman to hold this position. Her tenure in the Senate saw her participate in various committees, including the U.S. Senate Committee on Armed Services, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, the U.S. Senate Committee on Aging, and the U.S. Senate Committee on Small Business and Entrepreneurship.
In 2008, Dole faced a challenging reelection campaign against Democratic opponent Kay Hagan. Despite being initially considered a favorite, an attack ad against Hagan led to a decline in her popularity, resulting in her loss in the election by a larger-than-expected margin. She officially vacated her Senate seat in 2009. Following her departure from political office, Dole established the Elizabeth Dole Foundation in 2012. The organization focuses on providing resources and support to the caregivers of wounded military members. It selects military and veteran caregivers from each state to serve a two-year Fellowship with the Foundation. In 2022, the Foundation began collaborating with civil rights icon and veteran Bobby Grier, and actor Tom Hanks joined the Foundation’s Hidden Heroes Campaign to raise awareness about the challenges faced by military caregivers. These initiatives highlight Dole’s ongoing commitment to supporting those who serve and care for our nation’s heroes.
Literary Works and Personal Life
Elizabeth Dole has authored two books, “The Doles: Unlimited Partners” and “Hearts Touched by Fire: My 500 Inspirational Quotations,” showcasing her diverse interests and experiences. Additionally, she has been the subject of two biographies, “Elizabeth Dole: A Leader in Washington” and “Elizabeth Hanford Dole: Speaking from the Heart,” which provide insights into her life and career.
Dole’s personal life is marked by her marriage to Bob Dole, whom she met in the spring of 1972 and married in December 1975 at the Washington National Cathedral. While they had no children together, Dole is the stepmother to her husband’s daughter, Robin, from his first marriage. She is a regular church-goer and has attended the National Presbyterian Church in D.C. since 1996, reflecting her strong faith and values.
