Net Worth Ranker
What Is Jacqueline Kennedy Onassis’ Net Worth?
Jacqueline Lee “Jackie” (Bouvier) Kennedy Onassis, a prominent figure as an American First Lady and later a philanthropist, possessed a substantial net worth of $150 million at the time of her death in 1994. Adjusted for inflation, this sum is equivalent to approximately $270 million in today’s dollars. Her financial portfolio was shaped by inheritances, settlements, and astute management of assets acquired throughout her life.
Early Life and Family Background
Jacqueline Lee Bouvier was born on July 28, 1929, in Southampton, New York. Her father, John Vernou “Black Jack” Bouvier III, initially enjoyed wealth derived from an inheritance and his occupation as a stockbroker on Wall Street. However, he reportedly diminished the family’s financial standing through gambling and excessive drinking, contributing to her parents’ divorce. Following the divorce, Jackie and her sister, Caroline Lee Bouvier, later known as Lee Radziwill, divided their time between properties in Virginia, Rhode Island, and New York. Jackie’s early education included attendance at the Chapin School in New York City, from first through sixth grade.
Education and Early Career
In 1951, Jackie graduated from George Washington University in Washington, D.C., earning a Bachelor of Arts degree in French literature. During the summer of 1951, she and her sister Caroline embarked on a trip throughout Europe. Following this excursion, they co-authored a book titled “One Special Summer,” which featured Jackie’s illustrations. This early endeavor provided a glimpse into her artistic talents and entrepreneurial spirit.
Marriage to John F. Kennedy
Jacqueline’s path intertwined with that of John F. Kennedy through shared social circles. They were formally introduced at a dinner party in 1952. On September 12, 1953, they married at St. Mary’s Church in Newport, Rhode Island, and honeymooned in Acapulco, Mexico. In 1957, she gave birth to Caroline Bouvier Kennedy. In 1960, John F. Kennedy announced his candidacy for President of the United States, eventually winning the election on November 8th. At the age of 31, Jackie became the third-youngest First Lady in history. Approximately two weeks after the election, Jackie gave birth to John F. Kennedy Jr.
First Lady and White House Restoration
As First Lady, Jacqueline Kennedy Onassis focused on restoring the White House, organizing social events, and establishing herself as a fashion icon. She played a pivotal role in White House social events and restoration. She orchestrated significant changes to the White House, aiming to restore its historical integrity and showcase American art and culture. She aimed to transform the White House into a museum-quality residence, emphasizing American history and culture. The restoration efforts included establishing the White House Historical Association and creating a fine arts committee to oversee acquisitions and renovations. These initiatives involved extensive fundraising and collaboration with historians, curators, and designers, leading to a more elegant and historically accurate White House interior. She gained immense popularity among international dignitaries due to her grace and diplomatic skills. She also gave birth to Patrick Bouvier Kennedy in early 1963, who was born five weeks prematurely and died two days after birth. Tragically, on November 22, 1963, her husband, John F. Kennedy, was assassinated, leaving her a widow and a single mother of two children.
Kennedy Family Trust and Income
Upon her husband’s death, Jackie became a beneficiary of a Kennedy family trust. This trust provided her with an annual income of approximately $200,000, which is equivalent to around $1.7 million in today’s dollars. A specific stipulation of the trust stated that if she were to remarry, the income would be transferred to her two children, Caroline and John Jr. The trust was meticulously structured to ensure the financial security of the Kennedy children. This provision aimed to protect the Kennedy family’s wealth and legacy for future generations. The annual income derived from the trust allowed Jackie to maintain a comfortable lifestyle and support her children’s upbringing and education.
Marriage to Aristotle Onassis
On October 20, 1968, Jackie married Greek shipping magnate Aristotle Onassis. At the time, Aristotle Onassis owned the world’s largest shipping fleet and possessed an estimated fortune of $500 million in the late 1960s, which is equivalent to $4 billion today. As a condition of the marriage, Jackie secured a $3 million payment from Onassis to protect her income from the Kennedy trust. Additionally, she negotiated a trust that would provide her with $150,000 per year for life. During their marriage, Aristotle Onassis lavished Jackie with expensive gifts, including a 40-carat diamond ring valued at $1 million on her 40th birthday, which is equivalent to $7.5 million today. They maintained residences in multiple locations worldwide, including a 15-room apartment on Fifth Avenue in Manhattan, an apartment in Paris, and the Greek private island of Skorpios, owned outright by Onassis.
Deterioration of Marriage and Legal Concerns
The marriage between Jackie and Aristotle began to deteriorate in 1973, coinciding with Aristotle’s diagnosis of a fatal illness. Aristotle Onassis grew increasingly concerned that Jackie would be entitled to half of his estate upon his death. He reportedly lobbied for changes in Greek law to limit the amount a foreign spouse could receive in the event of divorce or death. Aristotle’s efforts to protect his estate from potential claims underscored the financial complexities and high stakes involved in their marriage.
Settlement After Aristotle Onassis’ Death
Aristotle Onassis died on March 15, 1975. Following his death, Jackie and his daughter Christina became involved in a contentious dispute over his estate. Ultimately, Jackie accepted a $26 million lump sum settlement, which is equivalent to approximately $120 million in today’s dollars. This settlement significantly enhanced Jackie’s financial standing, solidifying her position as one of the wealthiest women in America. The settlement terms were negotiated after extensive legal battles and considerations of Greek inheritance laws.
Real Estate Holdings and Personal Assets
In addition to the settlement received from the Onassis estate, Jackie’s net worth was further bolstered by her ownership of real estate and other personal assets. These holdings included the 15-room apartment on Fifth Avenue in Manhattan and a home on Martha’s Vineyard. Her real estate portfolio contributed significantly to her overall wealth and provided her with substantial financial security. The strategic management of these assets allowed her to maintain a high standard of living and preserve her net worth.
Diagnosis and Death
In 1994, Jackie was diagnosed with non-Hodgkin’s lymphoma. She passed away in her sleep on May 19, 1994. Her death marked the end of an era, leaving behind a legacy of style, grace, and philanthropic endeavors.
Estate and Inheritance
Recognizing that her children were already financially secure through separate Kennedy family trusts, Jackie bequeathed relatively modest sums of $250,000 to each of them. Additionally, JFK Jr. and Caroline inherited several real estate properties, including the 15-room NYC apartment and a home on Martha’s Vineyard. In 2003, four years after JFK Jr.’s death, Caroline sold the NYC apartment for $30 million. Jackie’s will allocated $500,000 to each of her sister’s children and established trusts to benefit a charitable foundation she created, known as the C&J Foundation (named after her children). This foundation was intended to support charitable causes and promote her philanthropic vision. Jackie’s estate planning reflected her desire to provide for her family while also contributing to the greater good.
Auction of Personal Possessions
In April 1996, JFK Jr. and Caroline organized an auction of their mother’s personal possessions. Nearly 6,000 items were sold for a total of $34.5 million. The most valuable item sold at auction was the diamond engagement ring given to her by Aristotle Onassis, which fetched $2.6 million. The auction provided a glimpse into Jackie’s personal life and style, attracting collectors and enthusiasts from around the world. The proceeds from the auction were used to further support the C&J Foundation and other charitable initiatives. The sale of her personal possessions underscored the enduring fascination with Jackie Kennedy Onassis and her lasting impact on popular culture.
