Introduction:
John McCain was a politician who served as a US Senator from Arizona for over three decades. He was also a former presidential candidate, a military man, an author, and a philanthropist. McCain’s net worth was a topic of discussion several times during his political career. However, despite several estimates, the exact value of his wealth was never disclosed. In this blog post, we will explore details about John McCain’s wealth, including his assets, incomes, and sources of wealth.
Assets:
John McCain owned several assets during his lifetime. One of his most valuable assets was his primary residence in Phoenix, Arizona. McCain’s house was worth an estimated $2.3 million. Additionally, he owned several investment properties, including a condo located in La Jolla, California, which was valued at $1.7 million. McCain also had an interest in a ranch located in Sedona, Arizona, valued at 1.5 million dollars.
Investments:
John McCain had multiple investments, both inside and outside of the stock market. One of his investments was in Anheuser-Busch, which was valued at around $500,000. Additionally, McCain invested in several companies, including Coca-Cola, Amazon, Microsoft, and Chevron.
Salaries and Pensions:
Besides investments, John McCain earned significant sums during his lifetime as a salary and pension. According to publicly available tax records, his Senate salary rose from $81,000 in 1992 to $174,000 in 2017, when he retired. Besides, John McCain would also have qualified for an annual Senate pension of over $54,000. John McCain’s military pension would have amounted to about $60,000 annually.
Books and Speaking Engagements:
John McCain was an author and a public speaker who frequently delivered speeches at conferences, universities, and organizations. His book “Faith of My Fathers” was a bestseller, and according to some reports, he earned $1.5 million in advance royalties. He also wrote several other books, including “The Restless Wave” and “Worth Fighting For.” McCain also made money through speaking engagements, where he was known to charge $50,000 per appearance.
Philanthropy:
John McCain was also a philanthropist, donating substantial sums to various charitable organizations. He donated to causes like human rights organizations, veterans’ charities, environmental causes, education, among others. Some records show that he donated more than $2 million to charity, including to the McCain Institute Foundation.
Other Financial Gains:
John McCain also earned money from several other sources, including his wife’s business interests and tax refunds. McCain’s wife, Cindy McCain, is an accomplished businesswoman with numerous interests in liquor companies. McCain also received substantial tax refund checks from the government, with some reports estimating these to be around $260,000.
Criticism:
John McCain received criticism for his wealthy lifestyle and fortune, particularly during his presidential campaign. In 2008, he was labeled a “Man of the People” hypocrite after he admitted to not knowing how many houses he owned. However, some pointed out that, unlike many politicians who earn much from lobbying and political favors, McCain had earned his wealth from investing, speaking, writing, and other legitimate business ventures.
Conclusion:
John McCain may be gone, but his impact remains significant. He was a man of means who had a significant influence on American politics during his lifetime. Despite his status as a wealthy man, it was evident that he used his wealth for the greater good. His philanthropic causes and military service show that he was committed to making the world a better place.
FAQs:
Q1. What was John McCain’s net worth?
A1. The exact value of John McCain’s net worth was never disclosed, but various estimates put it between $20 and $100 million.
Q2. What were John McCain’s most valuable assets?
A2. John McCain’s most valuable assets included his primary residence in Phoenix, Arizona, a condo in La Jolla, California, and a ranch in Sedona, Arizona.
Q3. What were John McCain’s sources of income?
A3. John McCain’s sources of income included his Senate salary, military pension, book royalties, speaking fees, investments, and tax refunds.
Q4. What charitable causes did John McCain support?
A4. John McCain supported various charitable causes, primarily human rights organizations, veterans’ charities, environmental causes, and education.
Q5. Did John McCain receive criticism for his wealth?
A5. Yes, John McCain received criticism for his wealthy lifestyle, particularly during his presidential campaign in 2008. However, it was evident that he used his wealth for philanthropic endeavors.