How Ex-Presidents and Prime Ministers Make their Money

Getty Images
Getty Images

Upon taking up residency in the White House, a president also assumes a tidy salary of $400,000 a year, plus extra cash for expenses. That's certainly not the kind of change you'd find under most couch cushions, but it's not such a princely sum that the president will be set for life when leaving office. While many leaders are either independently rich enough or old enough that they just retire after leaving office, others are desperate to make a buck or a pound. So how do ex-presidents and other former world leaders support themselves as they while away the autumn of their years?

The Very Broke Harry Truman:

When Truman's presidency ended in 1953, he headed home to Independence, Missouri, but there was a nagging problem: he didn't have any money.  His business interests from prior to his political life hadn't generated any sort of savings for him, and he thought that taken a corporate position or endorsing products would cheapen the presidency. His only income was a $112-a-month army pension, so he did what former presidents now do without thinking:  he sold his memoirs. Truman received a $670,000 deal for the two-volume memoirs, but after taxes and paying his assistants, he only netted a few thousand dollars on the project. Things got so dire that Congress passed the Former Presidents Act in 1958, which gave retired commanders in chief pensions of $25,000 a year.  At least his health insurance was eventually covered; when Lyndon Johnson signed Medicare into law in 1965, he presented President Truman and his wife, Bess, with the first two Medicare cards.

Jimmy Carter:

Carter famously rose to the presidency from humble roots as a Georgia peanut farmer, but when he assumed office he placed his business and farming issues in a blind trust to avoid any potential conflicts of interest. It was a noble act, but it didn't play out so well for Carter; when he resumed control of his assets, he was a million dollars in debt. He needed dough, so he started writing. And writing. Although he's known for his work with Habitat for Humanity and his willingness to go on global diplomatic missions, Carter is a shockingly prolific author of over 20 books. Some of his tomes are standard memoirs and political texts, but Carter's also penned children's books, a volume of poetry, a historical novel, and Bible-study guides.

Bill Clinton:

Bill Clinton pulls in $250,000 to give a speech, which has been a fairly lucrative racket for him. A 2007 report in the British newspaper The Independent estimated Clinton's earnings from speeches alone at somewhere in the neighborhood of $40 million since he left office six years earlier. Clinton also sold his memoir My Life to Knopf for $15 million, and he serves as an advisor for the private equity firm Yucaipa Companies, a post that has pulled in at least $12.6 million. When the Clintons released their tax data in April 2008 as part of Hillary's campaign disclosures, they showed income of $109 million since leaving the White House.

Margaret Thatcher:

Although declining health has slowed her down lately, Thatcher was fairly busy after stepping down as Prime Minister in 1990. She remained in the House of Commons until 1992. She received the title Baroness Thatcher that year, which got her a spot in the House of Lords. Thatcher also penned a two-volume memoir, The Path to Power and The Downing Street Years, which hit the New York Times' best-seller lists in 1993 and 1994. On top of that, she served as Chancellor of the College of William and Mary from 1993 to 2000 and penned the international relations text Statecraft:  Strategies for a Changing World in 2002. All of this work must have left Thatcher pretty set; after all, she has given Cambridge two million pounds to endow a chair in her name.

John Major:

Thatcher's successor as Prime Minister has had a decidedly more low-key life since leaving the post in 1997. As an avid cricket fan, he served as the president of the Surrey County Cricket Club from 2000 to 2001 and has been on the Committee of the Marylebone Cricket Club since 2005. He also joined the private equity firm the Carlyle Group's European Advisory Board in 1998 and supposedly rakes in 25,000 pounds for each speech he gives on the lecture circuit.

Tony Blair:

Like Bill Clinton, Blair got a book advance that ensured he wouldn't have to hit up any of his friends for a pound or two from time to time. In October 2007 the New York Times reported that Random House purchased Blair's memoir for a staggering $9 million. Or rather, they purchased the rights to the memoir once it's written; despite receiving the gigantic advance, Blair's spokesman admitted that the former Prime Minister hadn't gotten a chance to "put pen to paper" when he signed the deal. On top of the sweet advance, Blair's also pulling in cash as an advisor on climate change for Zurich Insurance and as a senior advisor for JPMorgan, both of which have been reported as six-figure-a-year jobs. He's also making 500,000 pounds for a series of speeches and will teach a course on faith and globalization at Yale this year.

When Theodore Roosevelt’s Son Snuck a Christmas Tree into the White House

George Varian, Ladies Home Journal // Public Domain, Courtesy of HathiTrust
George Varian, Ladies Home Journal // Public Domain, Courtesy of HathiTrust

Mental Floss has a new podcast with iHeartRadio called History Vs., about how your favorite historical figures faced off against their greatest foes. Our first season is all about President Theodore Roosevelt. Subscribe on Apple Podcasts here, and for more TR content, visit the History Vs. site.

On Christmas morning 1902, the children of Theodore and Edith Roosevelt woke up early, got dressed, and began banging on the door of their parents’ White House bedroom. It was there, Roosevelt explained the next day in a letter to James Garfield, grandson of former president James A. Garfield, that “six stockings, all bulging out with queer angles and rotundities, were hanging from the fireplace.”

The six members of the Roosevelt brood were not the only ones to receive gifts that day. Archie, the president’s second-youngest child, had a surprise for his parents, too: a little Christmas tree, which he had hidden in a closet and “rigged up with the help of one of the carpenters.” Hanging from the tree were gifts for the family and some of the Roosevelt’s veritable menagerie of pets: “Jack the dog, Tom Quartz the kitten, and Algonquin the pony, whom Archie would no more think of neglecting [than] I would neglect his brothers and sisters,” Roosevelt wrote.

Christmas trees laden with glittering decorations are now a central part of the White House holiday tradition. The official White House tree is formally welcomed by the First Lady and installed in the Blue Room—a custom that began in 1912. Some first families have opted to deck the White House halls with dozens of Christmas trees. But if Archie Roosevelt hadn’t ferreted his secret gift into the official residence in 1902, there may not have been a Christmas tree in the White House that year, the second of Roosevelt’s presidency.

"There will be no Christmas tree at the White House"

Newspaper reports from the time remarked with interest that the president’s family would not celebrate the holiday with a tree. The New York Sun, for instance, published an article in late December 1902 noting that while the Roosevelts would spend the morning exchanging gifts, “there will be no Christmas tree at the White House.”

White House Christmas decorations
A Christmas tree was set up in the East Room of the White House in 1936 at the end of President Franklin Roosevelt's first term.
Harris & Ewing, Library of Congress // No Known Restrictions on Publications

Rumors soon began to spread as to why a twinkling evergreen was not part of the family’s planned Christmas decor. A now-ubiquitous anecdote emerged: The president, a staunch conservationist, had imposed a ban on Christmas trees in the White House. And 8-year-old Archie found a way to circumvent the rule, bringing an extra dash of holiday cheer to the residence.

It wasn’t an outlandish theory. Roosevelt was indeed a leading figure of America’s conservation movement, which arose in response to the heavy exploitation of natural resources in the mid- to late-19th century. Though an avid hunter, Roosevelt was troubled by the mass slaughter of big game species like bison and elk. He recognized that the country’s natural resources were finite, its environment vulnerable and in need of protection. During his presidency, Roosevelt created the United States Forest Service and established 150 national forests, 51 federal bird reserves, four national game preserves, five national parks, and, with the signing of the 1906 American Antiquities Act, 18 national monuments.

“We have become great because of the lavish use of our resources,” Roosevelt once wrote. “But the time has come to inquire seriously what will happen when our forests are gone, when the coal, the iron, the oil, and the gas are exhausted, when the soils have still further impoverished and washed into the streams, polluting the rivers, denuding the fields and obstructing navigation.”

"The Forestry Fad"

Some environmental advocates in Roosevelt’s day opposed harvesting evergreens for use as Christmas trees. In late December 1899, the Chicago Daily Tribune reported that Roosevelt’s predecessor, President William McKinley, had received “many letters … begging Mr. McKinley to refuse to have a Christmas tree.” The writers had “taken up the forestry fad,” decrying the “Christmas tree habit” as “an immense and lamentable destruction of young firs and spruces,” according to the publication.

But Jamie Lewis, historian at the Forest History Society, says he has not found evidence that the 26th president ever took a similar stance on the Christmas tree quandary. In fact, Gifford Pinchot, head of the U.S. Forest Service who collaborated closely with Roosevelt on conservation matters, did not believe forests would be harmed by cutting down evergreens at Christmas time.

“Ultimately,” Lewis tells Mental Floss, “[Roosevelt] had no ban on Christmas trees.”

Lewis thinks there is a simpler explanation as to why the president decided to forgo this particular holiday symbol: “As far as I know, it was family tradition that they just didn't have a tree.”

Christmas trees at the White House
Workers put Christmas decorations on the front of the White House in 1939, during President Franklin Roosevelt's second term.
Harris & Ewing, Library of Congress // No Known Restrictions on Publication

The Baltimore Sun reported as much in a December 1901 article, which explained that “[t]here will be no Christmas tree [in the White House], as a tree has never been part of the celebration of Christmas in the Roosevelt family.” In an earlier article, the same publication suggested that with six children and multiple guests traipsing through the White House, there simply wasn’t enough room for a tree.

“In the private part of the house conditions are such that Mrs. Roosevelt finds she cannot devote a single room to a tree and therefore it has been decided by the President and herself that the children must have their tree at the home of their uncle and aunt,” the Sun reported.

Robert Lincoln O’Brien, a journalist who served as the White House executive clerk during the Cleveland administration, echoes this sentiment in his account of Archie’s surprise Christmas tree, which appeared in Ladies Home Journal in 1903. “The main motive of Mr. and Mrs. Roosevelt … is to enjoy Christmas as simply as possible,” O’Brien writes. “Almost every room of the White House at the holiday season, in a family of so many children, is overloaded with things; trees upon which to display them would only add so much more.”

"Pagan Symbols"

Today, this might seem like a rather Grinch-like attitude. But at the turn of the 20th century, not every home in America where Christmas was celebrated would have a bedecked evergreen. In fact, Christmas trees had only recently become a widely accepted feature of the holiday season. As late as the 1840s, many Americans, influenced by the country’s Puritan roots, saw Christmas trees as pagan symbols. Immigrants from Germany, where it was common practice to honor the holiday with a decorated tree, helped usher in a fondness for the custom. Even then, however, Christmas trees were typically reserved for households with children; presents would be stored under, or hung from, the evergreen.

Christmas tree at the White House
The White House Christmas tree was arranged in the Blue Room in 1961, during John F. Kennedy's first year in office.
Robert L. Knudsen, John F. Kennedy Presidential Library // Public Domain

The same was true of the America’s first families. “Presidents Grant and Cleveland both had Christmas trees in the White House only because they had young children,” Lewis writes on the Forest History Society website, “while presidents without young children had no tree.”

Roosevelt, of course, had multiple little ones living with him at the White House, which is perhaps why the family’s tree-less Christmas was remarked upon in contemporary newspaper reports.

“They were a dynamic, fascinating family that the press loved covering,” Lewis explains, adding that journalists may have been particularly eager for content as Christmas approached.

“Congress would have adjourned weeks before,” he says. “They weren't working right up until the week before Christmas. So [the media is] desperate for copy, and here we have this fascinating family. I think some of the myth and legend is born out of boredom, frankly.”

The tale of clever Archie flouting a presidential ban in 1902 certainly made for a good story—even if it wasn’t an entirely accurate one. In subsequent years, Lewis writes, newspaper articles not only remarked that the Roosevelts would once again not have a Christmas tree, but also speculated whether Archie would “pull a fast one” on his father.

“An Ideal Christmas”

If there was no ban, it seems more likely that Archie’s intention was simply to present his parents with a nice gift. In his letter to Garfield, Roosevelt describes the tree as a “surprise,” and doesn’t seem cross about the gesture.

“[A]ll the children came into our bed and there they opened their stockings,” he wrote. “Afterwards we got ready and took breakfast, and then all went into the library where each child had a table set for his bigger presents.”

Christmas tree at the White House
Lyndon Johnson set up a modest Christmas tree in the White House in 1963.
White House Photo Office, LBJ Presidential Library // Public Domain

Archie’s tree also may have planted the seeds for a new family custom. In late December 1906, Roosevelt noted in a letter to his sister that “Archie and [his younger brother] Quentin have gradually worked [up] a variant on what is otherwise a strictly inherited form of our celebration, for they fix up (or at least Archie fixes up) a special Christmas tree in Archie’s room.”

That year, the Roosevelt children decorated a second tree for their parents—perhaps to surprise them, now that Archie’s “variant” had become part of the Christmas tradition. While Roosevelt and his wife, Edith, were busy admiring Archie’s tree, “two of the children had [slipped] out,” the president explains, “and when we got back to our own room there was a small lighted Christmas tree with two huge stockings for Edith and myself.”

It was, Roosevelt writes, “an ideal Christmas.”

Scientists Just Created 3D Digital Replicas of John F. Kennedy’s Assassination Bullets

NIST
NIST

Part of the National Archives and Record Administration’s duty is to provide the public with access to its billions of pages of texts, maps, photos, film, and other artifacts of American history—but some of them aren’t so easy to view. The bullets from John F. Kennedy's assassination, for example, have long been considered too fragile for anything but sitting in a climate-controlled vault in Washington, D.C.

However, they recently took a field trip to the National Institute of Standards and Technology (NIST) in Gaithersburg, Maryland, where the ballistics team there used advanced microscopic imaging techniques to create breathtakingly accurate 3D digital replicas.

jfk bullet 3D replica
NIST

According to a press release from NIST, the collection includes two fragments from the bullet that killed Kennedy, the so-called “stretcher bullet” that hit both Kennedy and then-governor of Texas, John Connally; two bullets from a test-fire of the assassin's rifle, and a bullet from an earlier unsuccessful assassination attempt on Army Major General Edwin Walker that might have come from the same rifle.

As you can probably imagine, the two fragments from Kennedy’s fatal bullet are the most affecting pieces of the collection. They also give you a pretty good understanding of how difficult it must have been to recreate them—the bits of metal are twisted into gnarled, asymmetrical shapes that look different from every angle.

jfk bullet 3D replicas
NIST

To replicate each miniscule mark, ridge, and divot, NIST physical scientists Thomas Brian Renegar and Mike Stocker spent hours rotating the artifacts beneath the microscope, capturing images from all perspectives, and then combining parts of the images to create full 3D versions of them.

“It was like solving a super-complicated 3D puzzle,” Renegar said in the release. “I’ve stared at them so much I can draw them from memory.”

Kennedy’s assassination on November 22, 1963, has generated no small number of conspiracy theories over the years, but NIST and the National Archives made it clear that the project to replicate the bullets was “strictly a matter of historic preservation,” and not in any way a reopening of the case. But once the complete 3D scans are made available in the National Archives’ online catalog in early 2020, members of the public are free to analyze them however they like.

“The virtual artifacts are as close as possible to the real things,” Martha Murphy, the National Archives’ deputy director of government information services, said in the release. “In some respects, they are better than the originals in that you can zoom in to see microscopic details.”

And while Kennedy’s case is closed, the cutting-edge technology used on his bullets will be used in the future.

“The techniques we developed to image those artifacts will be useful in criminal cases that involve similarly challenging evidence,” NIST forensic firearms expert Robert Thompson said in the release.

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