How Much Money Is John Mccain Worth?
A look at the life and fortune of John McCain, who had a sprawling real estate portfolio and donated $1.7 million in book sales to charity
Updated
2019-08-25T18:21:00Z
- August 15, 2019, marks the one-year anniversary of Senator John McCain's death, who passed away at age 81 due to complications stemming from brain cancer.
- McCain's memoir, "The Restless Wave," was released in May.
- He and wife Cindy McCain quietly sat on a fortune of more than $200 million, largely due to Cindy's stake in one of the largest Anheuser-Busch distributors.
- Visit Business Insider's homepage for more stories.
August 25, 2019, marks the one-year anniversary of Senator John McCain's death.
He passed away on August 25, 2018, at age 81, shortly after his family announced he would no longer continue receiving medical treatment for brain cancer. He had reportedly been spending time at his ranch home in Sedona, Arizona, where he was receiving a flood of visitors as he battled glioblastoma, reported Town & Country.
In honor of his death a year later, his daughter, Meghan, took to Twitter to express her grief and his wife Cindy encouraged others to perform acts of civility. In a statement, Democratic presidential candidate Joe Biden also encouraged others to engage in civility acts, calling McCain "a political giant" and "a genuine American hero."
McCain's new memoir, "The Restless Wave," was released in May 2018. You may know McCain as the 2008 Republican presidential nominee, a Vietnam war vet, or an advocate for more civil politics.
What you may not know is that McCain and his wife Cindy sat on a private, but hefty fortune.
He was reportedly worth $16 million, according to Celebritynetworth.com. But that's only a fraction of what was his wealth — the rest came from his wife, who is an heiress to Hensley & Co., one of the largest Anheuser-Busch distributors.
She reportedly inherited a major stake in the company and became its chairman when her father, the company's founder, passed away. She currently has a net worth around $200 million.
A prenuptial agreement dictates that the McCains' money is in Cindy McCains' name, reports the New York Times.
Take a look inside their fortune.
John McCain's money came from multiple sources: his government salary and pension, a sprawling real estate portfolio, and private wealth largely held by his wife.
Sources: GOBankingRates, US Senate Financial Disclosures
John and Cindy McCain had a sizable real estate portfolio — not even the senator knew how many houses they owned when asked by a reporter in 2008. In Sedona, Arizona, they own a 15-acre ranch valued at more than $1 million.
Source: The Washington Post
But his primary residence was a condo in a 12-story glass building in downtown Phoenix. The McCains reportedly spent $4.67 million on a high-floor apartment in 2006 and bought the unit below for $830,000 almost a year later, combining them into a crib deluxe.
Source Zillow, Washington Post
In 2007, the McCains paid $700,000 in cash for a loft at Biltmore Lofts in Phoenix for their daughter, Meghan. They eventually put it on the market for $730,000.
Source: Zillow
Adding to the beachfront properties are two condos in the same building in Coronado. Cindy reportedly bought the second when she tired of the kids using the first so frequently. The first was purchased in 2004 for $2.6 million and the second for $2.1 million a few years later, which they offloaded in 2014.
Source:Zillow, Washington Post
And then there's Cindy McCain's childhood home in Phoenix, which the couple sold to an investor in 2006 for $3.2 million. It came back on the market at $12 million in 2008 and finally sold for $1.8 million in 2011. It has sold two more times since then.
Source: Forbes, Zillow
During the 2008 election, it was reported that the McCains owned 13 cars, including a 2004 Cadillac CTS, the senator's personal ride; a 2005 Volkswagen; 2001 Honda sedan; a 2007 Ford truck; a 1960 Willys Jeep; a 2008 Jeep Wrangler; a 2000 Lincoln; a 2001 GMC SUV; and three NEV Gem electric vehicles. That's not to mention a Toyota Prius for Meghan McCain and Cindy McCain's Lexus, which is registered to Budweiser.
Source: Telegraph
Cindy is known to favor suits made by German designer Escada, which typically retail for $3,000.
Source: CBS News
Between 2001 and 2006, McCain contributed about $950,000 to the John and Cindy McCain Foundation, which made contributions of about $1.6 million. More than $500,000 went to their childrens' private schools, $210,000 went to the US Naval Academy Foundation in both 2001 and 2002, and large amounts have been donated to various medical causes with a focus on craniofacial research and the HALO Trust, a landmine-clearing organization.
Sources: Harper's Magazine
The foundation has also donated smaller amounts, such as $200 to the Valley Youth Theatre in Phoenix, $500 to Cool Our Troops, $350 to the Child Crisis Center in Phoenix, and $50 to the American Cancer Society's Neighborhood Cancer Program.
Sources: Harper's Magazine
Nearly $9 million in leftover presidential campaign funds from 2008 were transferred to the McCain Institute Foundation, which was used to establish the McCain Institute for International Leadership at Arizona State University.
Source: The Washington Times, ASU
Hillary Hoffower
Correspondent, Millennial Wealth
Hillary reports on the intersection of youth culture and wealth, looking at the business, lifestyle, and financial behaviors of millennials. She covers trends in how high-net-worth millennials are living and spending, profiles millennial entrepreneurs, and examines how the economic environment millennials grew up in shaped them and their money habits. She also dives into the luxury landscape. She's investigated the French Riviera's pandemic party problem, explored Israel's luxury real estate market, and looked at how the ultrarich are reeling in flashiness in the name of safety. Here's a sampling of her work: — The world's youngest self-made billionaire hopes to power every future self-driving car with a technology that Elon Musk says is 'doomed' — Tiffany and the Trumps: Insiders describe how the president's younger daughter has charted what they say is a distant relationship with her father and come to terms with having America's most divisive last name — Yachting insiders detail the rampant sexual harassment aboard million-dollar ships, where crew members are promised a glamorous lifestyle and can instead find themselves trapped at sea with no one to turn to — Millennials came limping out of the Great Recession with massive student debt and crippled finances. Here's what the generation is up against if the coronavirus triggers another recession. — Class of 2020: A look at Gen Z as it graduates into chaos — How the American millennial is overcoming debt, the dollar, and the economy they were handed — College is more expensive than it's ever been, and the 5 reasons why suggest it's only going to get worse Hillary joined Business Insider in 2018 reporting on personal finance. Let her know what millennials are doing with their money by reaching her at hhoffower@businessinsider.com. Follow her on Twitter @hillary_tweets.
We are so sorry! We bumped into a system failure and couldn't take your email this time.
For you
How Much Money Is John Mccain Worth?
Source: https://www.businessinsider.com/john-mccain-net-worth-real-estate-charity-2018-5
Posted by: backlundyouggedge.blogspot.com
0 Response to "How Much Money Is John Mccain Worth?"
Post a Comment