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Gerald Ford Net Worth

What was Gerald Ford’s Net Worth In 2024?

At the time of his death in 2006, American politician Gerald Ford had a $7 million net worth. That’s equivalent to about $11 million when adjusted for inflation in the current currency. In July 1913, Gerald Ford was born in Omaha, Nebraska. On December 26, 2006, he passed away. From 1974 until 1977, Ford presided as the 38th President of the United States. Ford held the office of 40th Vice President of the United States under President Richard Nixon from 1973 to 1974 before taking office as President. Following Spiro Agnew’s resignation, he was the first person appointed to the Vice President post under the 25th Amendment.

Ford signed the Helsinki Accords during the Cold War when he was President. He had to deal with recession and inflation in a weak economy. He controversially pardoned Richard Nixon for his part in the Watergate affair as President. During Ford’s presidency, Congress played a bigger role, and the President’s powers were limited. Jimmy Carter defeated him in a close race for reelection in 1976. Ford represented Michigan’s 5th congressional district for almost 25 years before taking office, spending eight years as the party’s minority leader.

Early Life Of Gerald Ford

On July 14, 1913, in Omaha, Nebraska, Gerald Ford was born under the name Leslie Lynch King Jr. Leslie Lynch King Sr. and Dorothy Ayer Gardner were his parents. Only sixteen days after the birth of her son, his mother and father divorced. She drove Ford to Oak Park, Illinois, where they resided with her brother-in-law and sister. After that, in December 1913, she filed for divorce from Lynch King Sr. and relocated to her parents’ home in Grand Rapids, Michigan. Two years later, Gardner wed Gerald Rudolf Ford. Ford’s mother legally changed his name to Gerald Ford Jr., even though his stepfather never officially adopted him.

Ford participated in the Boy Scouts of America as a young boy and attained the highest rank possible—Eagle Scout. He was a standout athlete and Grand Rapids South High School football team captain. Several college recruiters noticed him after he was named to the Grand Rapids City League’s All-City team in 1930. He was a football player for the University of Michigan, where he was a centre, linebacker, and long snapper. In 1935, he earned his B.A. in economics.

He accepted a coaching position at Yale University after turning down offers to play in the NFL from the Detroit Lions and Green Bay Packers. After that, he enrolled in Yale Law School, graduating in May 1941. Then, following the 1941 attack on Pearl Harbor, he enlisted in the United States Navy. He spent several years aboard the USS Monterey after applying to sea duty. In February 1946, he was honourably discharged and was awarded several military decorations.

Career Of Gerald Ford

Ford started participating in local Republican politics in 1946. Later, in 1948, he ran and won a seat in the House of Representatives. He was elected to the 5th congressional district in Michigan, a position he held from 1949 to 1973. He gained notoriety as a reconciler and negotiator during this period. He was also on the House Appropriations Subcommittee on Defense Appropriations and the House Appropriations Committee. Ford identified as a conservative when it came to fiscal policy, an internationalist when it came to foreign affairs, and a moderate when it came to domestic issues.

Ford was named to the Warren Commission, a special task committee tasked with looking into President John F. Kennedy’s killing, by President Lyndon B. Johnson in 1963. Ford worked closely with the FBI during his tenure on the Commission, and one of his assignments was to write a biography of the alleged assassin Lee Harvey Oswald.

Life Of Gerald Ford

Ford led the House of Representatives as the minority leader from 1965 until 1973. Spiro Agnew left his position as vice president in 1973. Then, when President Nixon asked Congress for recommendations on a successor, Ford was the unanimous choice. Thanks to the 25th Amendment’s clause, Ford became the first vice president to hold the position. In addition, he took over the role amid the Watergate crisis. On August 9, 1974, Ford took over as President immediately when Nixon resigned due to the scandal. He became the sole individual to become the President without first being elected to the office of vice president or President. Next, he proposed Nelson Rockefeller, the governor of New York, as vice president.

Except for William E. Simon, the secretary of the Treasury, and Henry Kissinger, the secretary of state, Ford replaced every member of the Nixon Cabinet during his brief presidency. Political observers have started to refer to his abrupt restructuring of the Cabinet as the “Halloween Massacre.” During his presidency, Ford gave the economy a lot of attention. He oversaw the worst economic situation in forty years, dating back to the Great Depression. He ratified the Helsinki Accords, signalling a shift in Cold War diplomacy toward détente. During his nine months in office, American involvement in the Vietnam War came to an end.

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Personal Life and Death Of Gerald Ford

Ford wed Elizabeth Bloomer at Grand Rapids’ Grace Episcopal Church on October 15, 1948. Their first child, a son called Michael, was born in 1950. They welcomed John, their second son, in 1952. They welcomed a daughter called Susan in 1957 after welcoming a third son, Steven, in 1956.

Ford was initiated into Freemasonry in 1949. His three younger siblings were members of the group as well. In 1962, he received the rank of 33 Scottish Rite Mason. He was unanimously chosen in April 1975 to serve as the International Supreme Council’s Honorary Guard Master. That was his position till January 1977. In addition, he belonged to the Royal Order of Jesters and the Shriners.

Ford passed away on December 26, 2006, at his Rancho Mirage, California, home from widespread arteriosclerosis and arteriosclerotic cerebrovascular illness. At 93 years and 165 days, he was the longest-serving U.S. president at the time of his passing. Ford became the eleventh president of the United States to lie in state in the Rotunda of the U.S. Capitol on December 30, 2006. On January 2, 2007, a memorial ceremony was held at the National Cathedral in Washington, D.C. He was subsequently laid to rest at Grand Rapids, Michigan’s Presidential Museum. A statue of Ford was commissioned by the State of Michigan and submitted to the National Statuary Hall Collection in 2011.

Conclusion

In conclusion, Gerald Ford’s net worth is a multifaceted story beyond numbers. His journey from a modest background to the pinnacle of political power reflects resilience and determination. Understanding the intricacies of Ford’s financial decisions enriches our appreciation of his legacy.

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