The Modern Kennedy Family's Wealth and Inheritance: A Closer Look at Their Financial Legacy
From the days of Joseph P. Kennedy Sr., the Kennedy family has been one of America's most prominent and wealthy families. However, the financial status of the current generation of Kennedys is far from what one might imagine. In this article, we explore the current financial standing of the Kennedy family, breaking down their past wealth, inheritance, and the lifestyle of the current generation of Kennedys.
Joseph P. Kennedy's Rise to Fortune
Joseph P. Kennedy Sr. was one of the wealthiest men in the United States in the 1930s. In 1929, his fortune was estimated at around 4 million dollars, equivalent to approximately 59.6 million in today's currency. By 1935, his wealth skyrocketed to an astounding 180 million dollars, translating to a remarkable 3.36 billion in today's prices. This staggering increase in wealth can be attributed to his shrewd investments in real estate, particularly during the Great Depression, a period when many others saw their fortunes diminish.
The Kennedy Legacy and Inheritance
While the original fortune of Joseph P. Kennedy Sr. was vast, the current wealth of the Kennedy family is not what one might initially assume. Many of Joseph's grandchildren have had to work to support themselves, though they do receive some financial benefits from trusts set up by their ancestors. It's argued that Caroline Kennedy likely has the most financial stability within the family, while Bobby's offspring seem to have the least compared to the others.
Estimating Today's Kennedy Family Wealth
When one deducts the costs of having four family members killed by the mob or CIA, it's been estimated that the contemporary net worth of the Kennedy family could be around 3.6 billion dollars. However, given the sophisticated financial management and structures put in place by Joseph P. Kennedy Sr., it's reasonable to believe that the current wealth might be significantly higher.
Some estimates suggest that if the original investments had simply been placed into an SP index fund, the family's wealth today would equate to over 65 billion dollars. Even with the costly events that befell the family, the Kennedy legacy likely still holds considerable financial power.
Will the Kennedy Family's Wealth Last?
While the Kennedy family's wealth is undoubtedly impressive, whether it will last through future generations is an open question. Given the lifestyle of many of the current generation and the need for financial stability, it's clear that the family's resources are being carefully managed.
Quote: "First I want to tell those considering joining the family that there is no marriageable girls in the Kennedy family. If you are planning to join in asking such questions, you are wasting not only your time but also of everyone else. Revert to some useful and fruitful task and avoid spending your time counting the teeth of a dead pony."
Final Thoughts
While the current financial standing of the Kennedy family may not be as hefty as their ancestors', their legacy and the structures put in place by Joseph P. Kennedy Sr. suggest a continuing financial presence. As the family deals with the complexities of modern inheritance and wealth management, one thing is clear: the Kennedy name has a significant story to tell concerning wealth, politics, and family legacy.