Net Worth Ranker
What Was Ronald Reagan’s Net Worth?
At the time of his death in 2004, Ronald Reagan, the former actor and 40th President of the United States, had a net worth of $13 million. This figure reflects his earnings from his acting career, his political career, and other ventures. His real estate holdings also contributed to his overall net worth.
Early Career and Earnings
Ronald Reagan’s journey began in Tampico, Illinois, on February 6, 1911. After graduating from Eureka College in 1932, he initially worked as a radio announcer in Iowa, specifically covering Chicago Cubs baseball games. This role provided him with early income and valuable experience in broadcasting. In 1937, while in California with the Cubs, Reagan took a screen test that led to a seven-year contract with Warner Bros. studios. This contract marked the beginning of his acting career and a significant source of his wealth. He earned initial acting salaries which started modestly but grew as he took on larger roles.
During his time as an actor, Reagan appeared in numerous films. By the end of the 1930s, he had credits in 19 films, including “Sergeant Murphy,” “Cowboy from Brooklyn,” and “Dark Victory.” His role in “Knute Rockne, All American” in 1940 earned him the nickname “the Gipper” and further boosted his profile. In the 1940s, his role in “Kings Row” significantly increased his earning potential. Although specific salary figures from his early acting roles are not publicly available, it’s understood that successful actors during that era could command substantial fees, especially for leading roles in major studio productions. His film “Hellcats of the Navy” (1957), where he starred alongside his wife Nancy Davis, added further to his earnings as his last film was in 1964, “The Killers”.
Political Career and Income
Reagan’s transition from Hollywood to politics began with his involvement in the Screen Actors Guild (SAG). He was elected to the Board of Directors in 1941 and later served as president for multiple terms in the 1940s and 1950s. Although his SAG presidency was not a direct source of significant income, it provided a platform and network that would later benefit his political ambitions. His shift to the Republican party in the 1960s culminated in his election as the governor of California in 1966. As governor, he implemented policies such as freezing government hiring and raising taxes. His annual salary as governor was approximately $49,100.
Reagan’s successful governorship paved the way for his presidential aspirations. In 1980, he defeated incumbent Jimmy Carter to become the 40th President of the United States. During his two terms in office (1981-1989), his annual salary was $200,000. While the presidential salary contributed to his income, the real financial benefit came from investments and future opportunities arising from his political career, such as book deals and speaking engagements.
Real Estate and Personal Assets
One of the most significant components of Ronald Reagan’s net worth was his real estate holdings. In 1989, upon leaving the White House, the Reagans retired to a home in Bel Air, Los Angeles, located at 668 Saint Cloud Road. This 1.5-acre property featured a 7,200 square-foot mansion. A group of friends initially purchased the home for the Reagans in 1986 for $2.5 million (equivalent to approximately $6 million in today’s dollars). The Reagans leased the home with an option to buy it at the original purchase price, which they exercised in 1989.
After Nancy Reagan’s death in 2016, the property was acquired by their neighbor, movie producer Jerry Perenchio, for $15 million. Perenchio, who owned the adjacent Chartwell estate (famous for being featured in the “Beverly Hillbillies” television show), razed the Reagan house to expand his gardens. The Chartwell estate was later listed for $350 million and eventually sold for $150 million to Lachlan Murdoch in December 2019.
Post-Presidency and Investments
After leaving the presidency, Ronald Reagan engaged in various activities that contributed to his income. He wrote his autobiography, “An American Life,” which was published in 1990. Although the specific advance and royalties from the book are not publicly detailed, autobiographies by former presidents often command substantial sums. He also participated in speaking engagements, commanding fees that were typical for former heads of state. These engagements and other advisory roles added to his financial portfolio.
While specific details of Ronald Reagan’s investment portfolio are not widely available, it can be assumed that he invested in a mix of stocks, bonds, and other financial instruments. Prudent investment management would have allowed his wealth to grow over time, although the extent of this growth is not precisely documented. His “Reaganomics” policies focused on economic deregulation, but it’s not known whether he directly invested in deregulated industries.
Other Notable Aspects
In 1994, Ronald Reagan announced that he had been diagnosed with Alzheimer’s disease. As the disease progressed, his public appearances became less frequent. His focus shifted towards managing his health and personal affairs. The cost of his medical care and related expenses during this time would have been a factor in his overall financial considerations. Ronald Reagan passed away at his Los Angeles home in 2004 at the age of 93. His estate, valued at $13 million, was distributed according to his will, benefiting his family and charitable interests. His legacy remains a significant part of American history.
