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Here's what it was like to be George Washington, who will soon be dethroned as the richest president in US history

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In a matter of weeks, Donald Trump will be inaugurated as the president of the United States.

As Brett LoGiurato previously reported for Business Insider, the real estate mogul released a report in July claiming to be worth around $8.7 billion. However, Forbes estimates his net worth is closer to $3.7 billion

Since the president-elect hasn't released his tax returns, his financial situation is still somewhat unclear.

However, it looks like the US will appoint its first billionaire to the presidency.

Until now, the wealthiest president in US history also happened to be the first: George Washington.

The soldier, farmer, brewer, entrepreneur, and statesman is thought to have had an estimated net worth of $525 million in today's dollars. He not only earned more than other presidents — his salary was twice the total US budget in 1789, 24/7 Wall Street reports — but he owned over 50,000 acres of land.

Read on to learn more about the first, and richest, US president:

This is an updated version of a post by Kathleen Elkins.

SEE ALSO: The 9 weirdest jobs of America's Founding Fathers

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Washington was born at Pope's Creek in Westmoreland County, Virginia, in 1732. He was the oldest of Augustine Washington and Mary Ball's six children and also had three half-siblings. When Washington was 11 years old, Augustine died, leaving the future founding father with a great deal of responsibility managing the family's plantation.

Source: mountvernon.org



Not much else is known about his childhood. His formal education ended around age 15. In 1749, he received his surveying license from the College of William and Mary before getting involved in the military.

Sources: mountvernon.org



In 1759 he married Martha Dandridge Custis, a young widow with two children and a great deal of wealth. When Washington was elected president — first in 1789 and again in 1792 — his family didn't live in the White House. It wasn't completed until after his death, and he's the only president never to have stayed there.

Source: mountvernon.org 



See the rest of the story at Business Insider

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