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Monday, February 16, 2004

Kerry would be Third-Richest U.S. President


Forbes.com reports that, if elected, John Kerry would place third on their list of the richest U.S. Presidents, just behind George Washington and John F. Kennedy:
Sen. Kerry, like the last JFK from Massachusetts to serve as commander in chief, is also extremely wealthy. We estimate his family fortune at $525 million, which would make him, if elected, the third-richest president ever. But the key word is "family." The Kerry money comes from his wife, Theresa Heinz Kerry, who inherited it from her late husband, Sen. John Heinz III of the Heinz food family.

This puts Kerry in a situation somewhat similar to President Kennedy's. President Kennedy's father, Joseph, and his mother, Rose, were both still alive when JFK was in office and when he was assassinated, so John never inherited even a share of the Kennedy family fortune, which we estimated to be worth $850 million at its height in 1990.
I wouldn't bother to post this except that the Democrats' rhetoric about "the rich" falls somewhat flat when you realize that they are the rich.