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Jul 8, 2014 · Joseph P. Kennedy’s choice to place his fortune in trusts is possibly the single most critical reason why the family wealth is still around today.
The inaugural list placed Joseph P. Kennedy Sr. in the $200 to $400 million range, about $1.74 billion to $3.48 billion today.
Oct 11, 2023 · A savvy businessman with a sharp eye for profitable ventures, he amassed wealth through various channels, including the stock market, entertainment industry, and real estate, with an estimated net worth of $400 million (equivalent to billions today when adjusted for inflation).
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The Kennedy patriarch amassed great wealth partly by selling alcohol, but he also made savvy deals and sales that became extremely lucrative.
Was Joseph P. Kennedy a bootlegger?
Rumors have swirled for decades that Kennedy, whose nine children included President John F. Kennedy, and U.S. Senators Robert and Edward Kennedy, made his early fortune as a bootlegger during Prohibition.
But while the patriarch of the Kennedy clan certainly had his foibles, including playing fast and loose with the pre-1929 crash stock market, trading in illicit liquor wasn’t one of them, according to David Nasaw, author of The Patriarch: The Remarkable Life and Turbulent Times of Joseph P. Kennedy. As it turns out, one of the greatest American political dynasties of the 20th century was funded only in part by alcohol.
“As his biographer, I would have loved to have discovered that he was a bootlegger,” says Nasaw. “It would have given me all sorts of great stories. I tracked down every rumor I could find and none of them panned out. It became really clear that all of the stories about his bootlegging were just farcical.”
How Prohibition Created the Mafia
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Joseph Patrick Kennedy Sr. (September 6, 1888 – November 18, 1969) was an American businessman, investor, philanthropist, and politician. He is known for his own political prominence as well as that of his children and was a patriarch of the Kennedy family , which included President John F. Kennedy , Attorney General and Senator Robert F ...
Nov 23, 2020 · Joseph P. Kennedy Sr. left about $400 million to his descendants upon his death in 1969. The amount would be worth about $2.67 billion today.
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Nov 22, 2021 · In fact, it feels like an understatement to say the Kennedy family is still wealthy: Forbes reported in 2015 that the Kennedy family members were worth $1.2 billion.
