George W. Bush Net Worth 2020 | Wife (Laura Welch) & Biography

George W. Bush is an American businessman and politician, who served as the US’s 43rd president from 2001 to 2009. Bush had previously served as the 46th governor of Texas from 1995 to 2000.

Biography

He was born on July 6, 1946, in New Haven, Connecticut, USA as George Walker Bush.

His father was the 41st US president from 1989 to 1993. At the time of his birth, George H. W. Bush was attending Yale University after service in WWII.

His grandfather, Prescott Bush, was a former progressive Republican senator.

In 1969, Bush received a bachelor’s degree in history from Yale University. 

After college, he enlisted in the Air National Guard, serving in Alabama and Texas until his discharge in 1974.

In 1975, the future president earned a master’s degree in business administration from Harvard Business School.

In 1977, he started Arbusto Energy, a small oil exploration company. In 1984, Arbusto Energy merged with Spectrum 7 Energy Corp. After the merger, he became the CEO of Spectrum 7. Later, the company folded into HKN, Inc. Bush received a seat on the company’s board of directors, a job as a consultant to the company, and HKN stock.

In 1988, Bush served as a campaign advisor on his father’s campaign for the US presidency.

From 1989 to 1994, he served as managing general partner for the Texas Rangers baseball franchise.

In 1994, George W. Bush ran for the governor of Texas. His campaign focused on four themes:

  • education improvement;
  • crime reduction;
  • tort reform;
  • welfare reform.

He won the general election with 53.5% against Ann Richards’ 45.9%. In 1998, George W. Bush won re-election with a record 69% of the vote.

In June 1999, he announced his candidacy for the Presidency of the United States. The 2000 presidential campaign was formally launched on June 14, 1999.

In 2000, Bush won the presidency after defeating Democratic challenger Al Gore.

George W. Bush Net Worth
© Guliver / Getty Images

In July 2001, he visited Pope John Paul II at Castel Gandolfo.

In 2004, Bush was re-elected to the White House. He was challenged in his re-election bid by Massachusetts Democratic Senator John Kerry. Bush began his second term by outlining a major initiative to reform social security.

Time magazine named George W. Bush as its Person of the Year (2004). In early 2005, Bush named Nicolle Wallace as White House Communications Director.

After leaving the White House, he took up oil painting.

Bush delivered his first post-presidency speech in Calgary, Alberta in March 2009.

In 2010, George W. Bush published the book “Decision Points.” In about two months of release, the book sold over 2 million copies. Bush was paid $7 million for the first 1.5 million copies.

On November 11, 2014, he published a biography of his father, titled – ”41: A Portrait of My Father.”

In 2017, George W. Bush released another book, called – ”Portraits of Courage,” which includes a collection of oil paintings and stories about military veterans. The net proceeds from his book are donated to the George W. Bush Presidential Center. An exhibition of the portraits ran in 2017 for about six months at the George W. Bush Presidential Library and Museum.

Wife

In 1977, George W. Bush married Laura Welch, a schoolteacher and librarian. He later detailed his choice to marry Laura as the “best decision of [his] life.”

George W. Bush and his wife Laura Welch
© Guliver / Getty Images

In 2008, the two bought a new house in Dallas for about $2.1 million. It has a wet bar, four-and-a-half bathrooms, four bedrooms, and about 8,500 square feet.

Children

George and Laura welcomed their twin daughters, Barbara and Jenna, in 1981.

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Quotes

”I am a passionate person when it comes to freedom.”

”I’m optimistic about the future because as you mentioned democracy is self-healing.”

”I view my time in politics as a chapter, not my life.” (Texas Monthly)

”Education has got to be the cornerstone of domestic policy.”

Trivia

Shortly after his 40th birthday, George W. Bush gave up drinking alcohol. ”I realized that alcohol was beginning to crowd out my energies and could crowd, eventually, my affections for other people,” explained Bush. He credited his wife with his decision to stop drinking.

In 2002, he opened the Winter Olympics in Salt Lake City, Utah.

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George W. Bush – Net Worth

Bush earned most of his wealth from selling his shares in the Texas Rangers in 1998 for more than $15 million. Bush’s initial investment was around $800,000.

His presidential salary was $400,000 per year. In 2014, he received a pension worth over $200,000 per year. Bush also served as the governor of Texas. As the governor of Texas, George W. Bush earned $115,345 annually. 

In addition, he has made tens of millions of dollars in a book deal and speaking fees since leaving office. He has authored three books:

  • Portraits of Courage: A Commander in Chief’s Tribute to America’s Warriors;
  • 41: A Portrait of My Father;
  • Decision Points.

Bush’s deal for ”Decision Points” was valued at $7 million. Additionally, he is paid between $100,000 and $175,000 per speech. Therefore, George W. Bush has an estimated net worth of $40 million.

Featured image source – © Guliver / Getty Images.

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