George Bush is an American politician, author and businessman who served as the 45th president of the United States and the 46th governor of Texas. Since leaving office in 2009, Bush has been focused on public speaking, and writing while painting at his spare time. Hailing from a family of elites, Bush’s success story is quite devoid of hurdles. His net worth is estimated at $40 million.
George Bush Net Worth: Brief History
George Walker Bush was born on July 6, 1946 in New Haven, Connecticut into a highly political family. His father George Herbert Walker Bush served as the 41st President of the United States while his grand father Prescott Bush was a US Senator from Connecticut. George’s brother Jeb Bush served as the 43rd governor of Florida from 1999 to 2007 and ran for president in the 2016 presidential elections.
Bush grew up in Midlands and Houston, Texas. He attended an all male boarding high school Phillips Academy where he played in the baseball team. After graduation, Bush proceeded to study History at Yale University. In college, Bush played in the rugby team and was the president of the Delta Kappa Epsilon fraternity. He was also part of the Skull and Bones secret society of which both his father and grandfather were also members. He graduated in 1968 and enlisted in the Texas Air National Guard. He was honorably discharged from the Air Force Reserve on November 21, 1974.
George Bush Net Worth: Business Success
Shortly after Guard duty, Bush enrolled at Harvard Business School and earned an MBA in 1975. Bush’s first interest was in the oil business. After graduating Harvard, he returned to his hometown of Texas and began working for a family friend’s oil business.
Subsequently, Bush founded his own oil and gas business called Bush Exploration and soon made a fortune from it. However, in 1986 when his firm began struggling, he sold it to Harken Energy Corporation in exchange for a stock as well as a seat on its board of directors. On June 22, 1990, Bush made $848,560 from selling his 212,140 shares at $4 per share.
In 1989, Bush alongside a group of investors bought the Texas Rangers baseball team with Bush investing about $800,000. Bush successfully served as the managing general partner of the franchise for 5 years and was actively involved in its projects. Fast forward 9 years later in 1998, Bush sold his shares in the team for over $15 million making 17 times more than his initial investment.
See Also: Donald Trump Net Worth
George Bush Net Worth: Political Career
While managing his oil firm, Bush unsuccessfully ran for House of Representatives. In pursuit of a political career, Bush in 1988 moved his family to Washington DC and served on the campaign team of his father who was bidding for the White House. A couple of years after his father lost his re-election to Bill Clinton, Bush ran for governor of Texas in 1995. He easily won the Republican nomination and later defeated incumbent Democrat Ann Richards to become the first child of a US President to be elected governor.
George Bush won his re-election in 1998 to become the first Texas governor to be elected into two consecutive four-year tenures.
Bush entered the US presidential race in 1999 and emerged as the Republican nominee. He proceeded to win the highly controversial presidential elections against Al Gore.
Despite criticisms surrounding his first term in office including the 9/11 attacks in 2001, Bush won his re-election in 2004 against Democratic Massachusetts Senator John Kerry. Bush had a rocky final year in office in 2008 as a result of the two foreign wars which left the country in huge financial crisis and debt.
Throughout his 8 year tenure, Bush earned about $3.6 million in salary. He also earned an extra $900,000 in travel allowance.
George Bush Net Worth: Post White House
George Bush left the White House in January 2009 and was succeeded by Barack Obama. Between 2009 and 2011, Bush made $11 million, most of which came from speaking engagement charged at $150,000 each.
Bush and wife Laura settled in Dallas, Texas, from where he began penning books. His memoir “Decision Points” published in November 2010 debuted at #1 on the New York Times bestseller list and sold over 2 million copies after barely two months.
Mr Bush continues to make sporadic public appearances. In 2013, he opened his presidential library, The George W. Bush Presidential Center which is situated inside the Southern Methodist University campus in University Park, Texas.