George Washington was a billionaire

An interesting article about the United State’s first president and a topic not often discussed, his finances. Basically, Washington (and other founding fathers of America) was incredibly wealthy due to land speculation. As much as he was a leader of the revolution, he was also a leader in the real estate sector. The link is below but I took an excerpt in case the link breaks.

“What was the president’s financial position relative to the size of the economy?” At the time of his death, Washington’s $780,000 estate was equivalent in value to almost one-fifth of 1 percent—0.19 percent—of the $411 million GDP. If Washington had lived two centuries later, and boasted a fortune worth 0.19 per cent of the nation’s approximately $15 trillion 2011 GDP, he would have been worth $25.9 billion, taking fourth place in the Forbes list of seriously wealthy Americans. Bill Gates is in first place at $59 billion, Warren Buffett in second at $39 billion, and Larry Ellison of Oracle fame gets the bronze medal with a $36 billion stash. Washington’s $25.9 billion sneaks him in just ahead of Christy Walton of the Wal-Mart chain. The first president is in rich company.

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