What was Lyndon B. Johnson's net worth?
Lyndon B. Johnson was an American politician who had a net worth of $15 million at the time of his death in 1973. That's the same as around $100 million today after adjusting for inflation. Lyndon B. Johnson served as the 36th president of the United States from 1963 to 1969, after John F. Kennedy was assassinated. He had previously served as Kennedy's vice president, and before that served terms in both the US House and Senate. During his presidency, Johnson helped pass many landmark laws improving civil rights, education, and health care, but was also criticized for his handling of race relations and his role in escalating the Vietnam War.
Early Life and Education
Lyndon B. Johnson was born on August 27, 1908 in a farmhouse in Stonewall, Texas to a local political family. He was the eldest of five children of Rebekah and Samuel, with his siblings being Sam, Rebekah, Josefa, and Lucia. Johnson grew up impoverished, as his father had fallen on hard times. He was educated at Johnson City High School, where he was involved in public speaking and debate and played baseball. Pressured by his parents to go to college after graduating, Johnson attended Southwest Texas State Teachers College in the summer of 1924. However, just weeks after his arrival, he dropped out and moved to Southern California. After performing a variety of odd jobs there, Johnson returned to Texas and reenrolled at SWTSTC. There, he participated in debate and edited the school newspaper. Johnson graduated in 1930 with a degree in history. He went on to teach at Pearsall High School and Sam Houston High School. Johnson attended Georgetown University Law Center but left after his first semester in 1934.
Start of Political Career
Johnson formally entered politics in 1931 when he was appointed the legislative secretary of newly elected US representative Richard M. Kleberg from Texas. Because Kleberg was uninterested in performing the day-to-day duties of his job, Johnson did them in his stead. He was soon elected speaker of the "Little Congress," a group of congressional aides. In 1935, Johnson was appointed head of the Texas National Youth Administration, a position he held for two years. He was known to be a tough, demanding boss, and was described by many as being motivated by a lust for power.
US House of Representatives
Following the death of longtime congressman James P. Buchanan, Johnson successfully campaigned in a special election for Texas's 10th congressional district in 1937. He went on to serve in the US House of Representatives until 1949. During his tenure, Johnson served on the Naval Affairs Committee and worked to improve rural areas in the 10th district through electrification.
Keystone/ Hulton Archive
US Senate
In 1941, a special election was held after incumbent Texas senator Morris Shepard passed away. Johnson just narrowly lost the race to Governor W. Lee O'Daniel. However, O'Daniel was highly unpopular during his time in the Senate, and chose not to run for reelection in 1948. Johnson swooped in to take advantage of the situation, and won the Democratic primary by just 87 votes over former governor Coke Stevenson. The result was very controversial, as it was based on 200 fraudulent ballots that were reported six days after the election in Jim Wells County. However, Johnson prevailed after he was taken to court. He subsequently won the general election against Jack Porter.
During his early years in the US Senate, Johnson conducted investigations of defense costs and efficiency. In 1951, he was chosen as Senate Majority Whip, and in 1953 became the Democratic Minority Leader. After being reelected to the Senate in 1954, Johnson became the Majority Leader. In that role, he became renowned for his proficiency in gathering intelligence and exerting control over other senators. Notably, Johnson helped in the passage of the Civil Rights Acts of 1957 and 1960, the first civil rights bills to pass Congress since Reconstruction in the late 1800s. He won a third Senate term in 1960, but had to resign after being chosen as John F. Kennedy's vice president.
Via Getty
Military Service
While serving in the US House, Johnson was called to active military duty three days after the Pearl Harbor attack in late 1941. Following his training, he was sent to inspect shipyard facilities in Texas and on the West Coast. Later, Johnson reported to General Douglas MacArthur in Australia, and was sent with two US Army officers to the 22nd Bomb Group base to observe airstrikes on a Japanese airbase in New Guinea. For his efforts, he received the Silver Star and the American Campaign Medal, among other honors. Johnson was released from active duty in the summer of 1942, but remained in the Navy Reserve until 1964.
US Vice President
After making a late entry into the US presidential race in 1960, Johnson lost the nomination to John F. Kennedy. He ended up becoming Kennedy's vice president instead. In that role, Johnson was widely despised by members of the White House due to his brusque behavior. Kennedy made sure to keep him busy, appointing him head of the President's Committee on Equal Employment Opportunities and chairman of the National Aeronautics and Space Council.
US President
Johnson was sworn in as the 36th president of the United States a little over two hours after the assassination of John F. Kennedy in Dallas, Texas on November 22, 1963. He delivered his "Let Us Continue" speech five days later, and after that established the Warren Commission to investigate events surrounding Kennedy's assassination. Although he had serious concerns about his ability to be elected president in his own right, Johnson went on to win the 1964 presidential election in a landslide over Barry Goldwater, receiving the largest share of the popular vote won by any presidential candidate since 1820. During his presidency, Johnson had a robust domestic policy plan focused on expanding civil rights, education, health care, and public services. He coined the term the "Great Society" in reference to these domestic programs. One of Johnson's greatest accomplishments was the passing of the Civil Rights Act of 1964, which outlawed discrimination based on race, color, sex, religion, and national origin, and ended racial segregation in schools and public accommodations. Johnson later signed the Voting Rights Act of 1965 to outlaw discrimination in voting, and the Civil Rights Act of 1968 to expand on previous civil rights.
Among his other notable achievements as president, Johnson signed the Social Security Amendments of 1965, which led to the creation of Medicare and Medicaid. That year, he also signed the Immigration and Nationality Act of 1965 and enacted the Higher Education Act of 1965, which focused on funding for lower-income students. Additionally, Johnson was integral in supporting NASA and the Apollo program, public broadcasting, and the arts. Despite ushering in a new era of modern liberalism in the US, however, Johnson became increasingly less popular throughout the 1960s as he struggled to contain racial unrest at home and escalated the Vietnam War abroad. He was criticized for the Gulf of Tonkin Resolution, which allowed him to launch a full-scale military intervention in South East Asia. Johnson earned further pushback for boosting military operations in Laos. Although he initially sought to run for reelection, he ended up pulling out of the race in 1968 following his disappointing results in the New Hampshire primary. Johnson was succeeded by Republican Richard Nixon, who defeated Johnson's vice president Hubert Humphrey in the election.
Post-Presidency
After leaving the White House in 1969, Johnson returned to his ranch in Stonewall, Texas and began working on his memoirs. His first book was "The Choices We Face," which was followed by "The Vantage Point: Perspectives of the Presidency 1963-1969." During this time, Johnson kept a low profile. His ranch later became part of the Lyndon B. Johnson National Historical Park.
Personal Life and Death
In late 1934, Johnson married Claudia Taylor, known by her sobriquet Lady Bird. Together, they had two daughters named Lynda and Luci. While married, Johnson had several affairs with other women, notably Alice Marsh.
A chronic smoker, Johnson had a near-fatal heart attack in the summer of 1955. He subsequently gave up smoking immediately. After his presidency, Johnson resumed smoking, and suffered angina. In 1972, he had another heart attack, and had to use a portable oxygen tank afterward. Johnson's condition deteriorated quickly, and in early 1973 he died from a third heart attack. He was honored with a state funeral, and was then buried in his family's private cemetery.
