Net Worth Ranker
What Is Jesse Owens’ Net Worth?
At the time of his death in 1980, Jesse Owens, the celebrated American track and field athlete, had a net worth estimated at $150,000. Adjusted for inflation, this amount is equivalent to approximately $550,000 in today’s dollars. While this figure provides a snapshot of his financial status at the end of his life, it’s important to understand the factors that influenced his wealth and financial stability throughout his career.
Early Life and Collegiate Career
Born James Cleveland Owens on September 12, 1913, in Oakville, Alabama, Jesse was the tenth and youngest child of Henry and Mary Owens, who worked as sharecroppers. The family relocated to Cleveland, Ohio, when Jesse was nine years old. His athletic talent became evident during his time at East Technical High School, where he set a national high school record in the long jump. He also achieved the remarkable feat of running the 100-yard dash in under ten seconds. These early achievements set the stage for his future in track and field, despite facing racial discrimination that often meant competing in segregated events. It’s important to note that at this stage, Jesse’s focus was primarily on developing his athletic prowess rather than accruing financial wealth, typical for aspiring athletes of that era.
Owens continued to excel at Ohio State University, solidifying his reputation as a top athlete. In 1935, he achieved a legendary performance at the Big Ten Championships, where he set three world records and tied another within a span of just 45 minutes. Although his athletic achievements were outstanding, it is essential to remember that collegiate athletes at that time were not paid. His participation in track and field at Ohio State provided him with opportunities to hone his skills and gain national recognition, but it did not translate into immediate financial gains. The amateur status of athletes during this period meant that Owens primarily focused on athletic achievement rather than financial compensation.
The 1936 Berlin Olympics
The 1936 Berlin Olympics was a pivotal moment in Jesse Owens’ career. He won four gold medals in the 100-meter dash (setting an Olympic record of 10.3 seconds), the 200-meter dash (setting another Olympic record of 20.7 seconds), the long jump (with a jump of 8.06 meters, setting an Olympic record that stood for many years), and the 4×100-meter relay (setting a world record of 39.8 seconds). These victories not only defied Adolf Hitler’s propaganda about Aryan supremacy but also established Owens as an international icon. However, the strict amateur rules of the time prevented him from capitalizing financially on his Olympic success. It is reported that upon returning to the United States, Owens was not given any significant financial rewards or endorsements commensurate with his achievements. The lack of immediate financial benefit was a common issue for Olympic athletes of that era due to the amateurism rules.
After the Olympics, Owens faced significant challenges in securing stable employment or endorsements. Despite his international fame, racial discrimination in the United States limited his opportunities. He was stripped of his amateur status when he sought to earn money from paid endorsements, effectively ending his track career at the age of 23. The specific amount he attempted to earn from these endorsements is not precisely documented, but it was enough to disqualify him from amateur competitions. This decision had a significant impact on his potential earnings during his prime athletic years, contributing to his financial struggles in the years following his Olympic triumphs.
Later Career and Financial Difficulties
In the years following his Olympic glory, Jesse Owens took on a variety of jobs to support his family. These included working as a gas station attendant, managing a dry-cleaning business, and participating in exhibition races where he competed against horses. The financial details of these ventures are not extensively documented, but it is clear that Owens had to engage in various activities to make ends meet. He also attempted several business ventures, such as launching a baseball league and opening a public relations firm. These ventures, however, were not successful, and Owens faced increasing financial difficulties. The exact financial losses from these failed ventures are not specified, but they significantly contributed to his economic hardships.
By 1939, just three years after his Olympic success, Jesse Owens declared bankruptcy due to mounting debts. The specific amount of debt that led to his bankruptcy is not explicitly stated in historical records, but it reflected the severity of his financial situation. In 1966, he faced further legal trouble for tax evasion, highlighting his ongoing financial instability. The details of the tax evasion case, including the amount of unpaid taxes, are not widely publicized, but the incident underscored the challenges he faced in managing his finances. It is important to note that these financial struggles were partly a consequence of the limited opportunities available to Black athletes at the time, as well as the challenges of transitioning from a successful athletic career to the business world.
Later Career and Financial Recovery
In the later years of his life, Jesse Owens experienced some financial relief. He was appointed as a U.S. goodwill ambassador, a role that provided him with a stable income. As a goodwill ambassador, Owens traveled extensively, promoting fitness and American ideals abroad. While the exact salary he received for this position is not publicly disclosed, it was a significant source of income that helped stabilize his financial situation. In the 1970s, Owens secured endorsement deals from major companies, including a notable partnership with Adidas. The specific terms and financial details of these endorsement deals are not widely publicized, but they provided him with additional income and enhanced his public profile. He also became a sought-after speaker, commanding fees for his appearances at various events. While the exact amount he earned per speaking engagement is not specified, it contributed to his improved financial standing.
In the 1970s, Jesse Owens finally began to receive the recognition and financial stability that had eluded him for much of his post-Olympic life. He received national honors, including the Presidential Medal of Freedom in 1976 and the Living Legend Award in 1979. These awards not only honored his athletic achievements and contributions to civil rights but also helped restore his legacy and increase his visibility, leading to further opportunities for endorsements and speaking engagements. While the financial impact of these awards was indirect, they played a crucial role in improving his public image and opening doors to new sources of income. It is essential to understand that Owens’ financial recovery was closely tied to his recognition as an American icon and his ability to leverage his legacy for economic gain.
Personal Life and Legacy
In 1935, Jesse Owens married Minnie Ruth Solomon, and they had three daughters together: Gloria, Marlene, and Beverly. While Jesse was a devoted family man, he faced challenges in his personal life, including financial instability and health problems. He struggled with chronic lung disease, which eventually led to his death. Owens passed away on March 31, 1980, at the age of 66, from lung cancer. Specific details about his assets at the time of his death, other than the estimated net worth of $150,000, are not widely available. The focus of his later life was primarily on promoting his legacy and advocating for civil rights rather than accumulating significant wealth.
Jesse Owens’ legacy transcends his financial net worth. His impact on sports and civil rights is immeasurable. He inspired generations of Black athletes to pursue their dreams and to fight against discrimination. In recognition of his achievements, the Jesse Owens Award is given to the year’s best track and field athlete. His triumph at the 1936 Olympics remains a testament to the power of perseverance and determination in the face of adversity. Jesse Owens is remembered as a true American hero, whose legacy continues to inspire people around the world.
