Who Inherited John F. Kennedy’s Money?
John F. Kennedy, the 35th President of the United States, came from one of the wealthiest and most powerful families in American history. When he was assassinated in 1963, his financial assets, trust funds, and real estate holdings became a subject of great interest. Many people wonder who inherited his fortune, how much his widow Jacqueline Kennedy received, and how the Kennedy family accumulated their vast wealth in the first place.
When JFK was assassinated on November 22, 1963, his estate was primarily inherited by his wife, Jacqueline Kennedy Onassis, and their two surviving children, Caroline Kennedy and John F. Kennedy Jr.. However, unlike many wealthy individuals, JFK’s personal fortune was tied to the larger Kennedy family trust, meaning that his wealth was not as liquid as some may assume.
How Much Money Did Jackie Inherit When JFK Died?
After JFK’s death, Jacqueline Kennedy inherited a combination of assets, including money, property, and trust funds. It is estimated that she received around $10 million, which would be equivalent to approximately $90 million today, when adjusted for inflation.
Jackie also received a $200,000 per year allowance from the Kennedy family trust to support her lifestyle and her children. The Kennedys ensured that Jackie and her children were financially secure for life, as JFK’s personal wealth was intricately tied to the family’s larger fortune.
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In addition to financial assets, Jackie inherited:
- JFK’s share of real estate holdings, including property in Hyannis Port, Massachusetts.
- His personal effects, memorabilia, and historical documents.
- Income from JFK’s book sales, including royalties from Profiles in Courage and Why England Slept.
Despite this inheritance, Jackie still sought further financial stability. In 1968, she married Greek shipping tycoon Aristotle Onassis, one of the richest men in the world. This marriage significantly increased her wealth, as Onassis had an estimated net worth of $500 million at the time (equivalent to billions today).
How Did the Kennedy Family Get All Their Money?
The Kennedy family’s wealth dates back to Joseph P. Kennedy Sr., JFK’s father, who was one of the richest men in America. He built a financial empire through strategic investments in multiple industries. Here’s how the Kennedys made their fortune:
1. Stock Market and Banking Investments
Joseph Kennedy Sr. was a skilled investor who made a fortune in the stock market during the 1920s. He took advantage of insider trading (which was legal at the time) to make highly profitable investments. He also served as the first chairman of the Securities and Exchange Commission (SEC), helping regulate the very market that had made him rich.
2. Prohibition and the Liquor Business
During the Prohibition era (1920-1933), Joseph Kennedy allegedly made money by smuggling alcohol into the U.S. When Prohibition ended, he legally established a liquor import business, securing exclusive deals to import British whiskey and Scotch into the U.S. This became one of his most lucrative ventures.
3. Hollywood and Entertainment Industry
Joseph Kennedy invested in Hollywood studios and at one point owned RKO Pictures, a major movie studio. His involvement in the film industry helped him expand his wealth and influence, though he eventually sold his holdings for a massive profit.
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4. Real Estate and Corporate Investments
The Kennedys also built wealth through real estate investments, acquiring valuable properties in Massachusetts, New York, and other locations. Additionally, they invested in oil, steel, and other key industries that contributed to their growing fortune.
5. Political Influence and Family Trusts
Unlike other wealthy families that dissipate their fortunes over generations, the Kennedys structured their wealth through family trusts. Joseph Kennedy created multiple trust funds that ensured financial security for his children and grandchildren. These trusts provided ongoing wealth for generations, maintaining the family’s influence in politics and business.
JFK’s Children and Their Inheritance
Caroline Kennedy
As the only surviving child of JFK, Caroline Kennedy inherited a substantial portion of her father’s and mother’s estates. Today, she is estimated to have a net worth of $250 million. She has had a successful career as a lawyer, diplomat, and author.
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John F. Kennedy Jr.
JFK’s son, John F. Kennedy Jr., inherited a fortune, but he tragically died in a plane crash in 1999. His estate was estimated to be worth $50 million at the time.
The Kennedy Family’s Net Worth Today
Despite tragedies and losses, the Kennedy family remains one of America’s richest and most powerful dynasties. Today, the collective Kennedy family fortune is estimated to be around $1 billion. The family continues to manage its wealth through trusts, investments, and business ventures.
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Conclusion
JFK’s wealth was largely tied to the Kennedy family fortune, which was built through investments in stocks, real estate, liquor, Hollywood, and strategic business deals. After his assassination, his wife Jacqueline Kennedy inherited around $10 million, along with real estate, book royalties, and access to the Kennedy family trust. Their children, Caroline and John Jr., also inherited wealth that kept them financially secure.
The Kennedy family’s ability to preserve and grow their fortune through generations is what has kept them one of the wealthiest and most influential political families in American history.
