What was Jimmy Carter's Net Worth?
Jimmy Carter was an American politician and philanthropist who had a net worth of $10 million at the time of his death. Jimmy Carter died on December 29, 2024, at the age of 100. Jimmy Carter was a naval officer, Governor of Georgia, and President of the United States, having served as the 39th President from 1977 to 1981. Prior to entering politics, Jimmy ran a successful peanut farm.
Carter's early career was in the military; he graduated from the United States Naval Academy in 1946 and served in the Navy, where he worked in the submarine program. This period was crucial in shaping his technical and leadership skills. He left the Navy in 1953 following the death of his father and took over the family peanut farming business, which he expanded successfully.
His political career began with his election to the Georgia Senate in 1962, and he became Governor of Georgia in 1971. As governor, Carter earned a reputation for progressive policies, particularly in the areas of civil rights and educational reform. In 1976, he was elected President of the United States, positioning himself as a Washington outsider and advocate for human rights.
Carter's presidency (1977-1981) was marked by several significant achievements and challenges. He brokered the historic Camp David Accords between Israel and Egypt, which was a major diplomatic success. Domestically, however, his term faced economic difficulties, including high inflation and the energy crisis. His presidency also faced international challenges, notably the Iran hostage crisis, which significantly affected his popularity.
After losing the 1980 election to Ronald Reagan, Jimmy's post-presidential life has been exceptionally active and impactful. He founded the Carter Center in 1982, which focuses on global human rights issues, election monitoring, and disease prevention. His humanitarian efforts, particularly those aimed at eradicating diseases like Guinea worm disease, have been widely praised.
Carter has also been involved in various diplomatic missions and conflict-resolution efforts around the world. He won the Nobel Peace Prize in 2002 in recognition of his work in international conflict resolution, human rights, and economic and social development.
Beyond his formal work, Jimmy is known for his commitment to his faith, teaching Sunday school for many years, and his hands-on work with Habitat for Humanity, where he actively participated in building homes for the needy.
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Early Life
Jimmy Carter was born James Earl Carter Jr. on October 1, 1924, in Plains, Georgia. The family moved around several times when Carter was an infant. His father was an investor in farmland, and his mother was a registered nurse. The family eventually settled in Archery and had three more children: Gloria, Ruth, and Billy. Jimmy was educated in the public school system, attending Plains High School at the height of the Great Depression and graduating in 1941. He attended Georgia Southwestern College for one year then transferred to the Georgia Institute of Technology. He then transferred to the Naval Academy, where he graduated with a Bachelor of Science degree in 1946. During his time at the Academy, Jimmy met and fell in love with his sister's best friend, Rosalynn Smith. Jimmy and Rosalynn were married soon after his graduation.
Naval Career
Between 1946 and 1953, Jimmy and Rosalynn lived in Hawaii, Virginia, New York, California, and Connecticut as part of his Naval deployments. During his time in the Navy, Carter worked in the nuclear submarine program. He began officers' training for submarine duty in 1948, served aboard the USS Pomfret, and was subsequently promoted to lieutenant junior in 1949. In 1952, an accident with the experimental NRX reactor at the Atomic Energy of Canada's Chalk River Laboratories caused millions of liters of radioactive water to flood the reactor's building basement. Carter was ordered to Chalk River to lead a maintenance crew to assist in the shutdown of the reactor. The process was painstaking and tedious and required each member to don protective gear in order to prevent exposure to radioactivity. Jimmy has said that his experience at Chalk River shaped his views as president on atomic energy and led him to cease the development of a neutron bomb. When his father died in 1953, he resigned his naval commission and moved back to Georgia to be with his family. Carter was awarded many honors for his time in the Navy, receiving the American Campaign Medal, the World War II Victory Medal, the China Service Medal, and the National Defense Service Medal.
Early Political Career
Back in Georgia, Rosalynn was finding it difficult to settle back into small-town life, having enjoyed settling down in New York. Jimmy took over the Carter farms and operated Carter's Warehouse, a general-purpose seed and farm supply company in Plains. He quickly became a leader in the community and caught the political bug. In 1962, he was elected to the Georgia Senate. Jimmy was then elected Governor of Georgia, a position he held from 1971 to 1975. In his inaugural speech, he declared: "The time of racial discrimination is over. … No poor, rural, weak, or black person should ever have to bear the additional burden of being deprived of the opportunity for an education, a job or simple justice." The message, against a backdrop of a southern state that was still thickly racist, was unexpected and shocked the crowd. Carter went on to fervently prioritize civil rights throughout his term as Governor.
Presidency
On December 12, 1974, Jimmy announced his candidacy for President. He won his party's nomination at the 1976 Democratic National Convention. Going into the primaries, he was considered to have no chance of winning against better-known politicians. His name recognition was only two percent. However, as the Watergate scandal of President Nixon was heating up, Carter's position as a distant outsider became his leading asset. Jimmy became the front-runner early on by winning the Iowa caucuses and the New Hampshire primary. His strategy was two-pronged: In the South, Carter was seen as one of their own–a moderate favorite "son,"–and in the North, he appealed to conservative Christians and rural voters. Jimmy chose Walter Mondale as his running mate and faced off against opponent Gerald Ford in three televised debates.
Jimmy Carter was elected President on November 2, 1976. He won the popular vote by 2 percentage points and received 297 electoral votes to Ford's 240. Carter was sworn in as president on January 20, 1977. On his second day in office, he issued Proclamation 4483, which pardoned all Vietnam War draft dodgers.
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Significant foreign policy accomplishments during his administration include the Panama Canal treaties, the Camp David Accords, the treaty of peace between Egypt and Israel, the SALT II treaty with the Soviet Union, and the establishment of US diplomatic relations with China. Carter also established the Department of Energy and the Department of Education during his term. He championed human rights all over the world and was a staunch supporter of a comprehensive energy program and major environmental protection legislation. The end of his presidential tenure was rocked by the 1979-1981 Iran hostage crisis, the 1979 energy cruises, the Three Mile Island nuclear accident, and the Soviet invasion of Afghanistan. Carter embraced the idea of a universal health care system for everyone in the country but was ultimately thwarted at each try.
Later Life
After losing his re-election campaign in a landslide to Ronald Reagan in 1982, Jimmy became a University Distinguished Professor at Emory University in Atlanta. He also founded the Carter Center, an organization that works to resolve conflict, promote democracy, protect human rights, and prevent disease across the globe. Carter serves as an honorary chair for the World Justice Project.
Jimmy has become notable for his dedication to the charity Habitat for Humanity. He has also written more than 30 books during his life, on a variety of topics.
Carter's presidency was not remembered in history by most as being particularly successful; however, he became well-known for his activism, philanthropy, and long-term teaching career post-presidency.
Salary
When he was President, Jimmy earned the then-standard $200,000 per year in salary. Thanks to inflation, this is the same as $1.4 million in today's dollars. Current Presidents earn $400,000. As a former President, he earns an annual pension of $207,800. He also has a full staff of Secret Service protection and is paid $150,000 per year for staff.
Personal Life & Death
Jimmy and Rosalynn Carter were married from 1946 until her death in November 2023 at the age of 96. They had three sons and one daughter. As of this writing, their children have produced eight grandsons, three granddaughters, and two great-grandsons. On October 1, 2019, Carter became the first living president to reach the age of 95. Jimmy Carter died on December 29, 2024, at the age of 100.
