Babe Ruth, born as George Herman Ruth Jr., was one of the most iconic figures in the history of baseball. Known for his exceptional skills on the field and larger-than-life personality, Ruth became a legendary figure in America's favorite pastime. But just how much money did he have when he passed away? In this article, we will explore the financial aspects of Babe Ruth's life, his earnings, investments, and the legacy he left behind.
Early Life and Baseball Career
Before we delve into Babe Ruth's financial situation, let's take a brief look at his life and career. Ruth was born on February 6, 1895, in Baltimore, Maryland. He began his baseball journey at a young age, eventually joining the Boston Red Sox in 1914 as a pitcher. However, it was after his trade to the New York Yankees in 1920 that Ruth's career soared to new heights.
Ruth's exceptional performance on the field, along with his charismatic personality, made him a fan favorite. He set numerous records and became the face of American baseball during the "Golden Age of Sports." Ruth's popularity and success not only earned him accolades but also significant financial rewards.
Earnings and Contracts
During his career, Babe Ruth signed several contracts that significantly boosted his earnings. In 1919, Ruth signed a three-year contract with the Boston Red Sox for $10,000 per year, making him one of the highest-paid players at the time. However, due to financial difficulties faced by the Red Sox's owner, Harry Frazee, Ruth was traded to the New York Yankees in 1920.
With the Yankees, Ruth's earning potential skyrocketed. In 1922, he signed a three-year contract with the Yankees for $52,000 per year. This was a substantial increase from his previous earnings and further solidified his position as one of the highest-paid athletes in the world.
Investments and Business Ventures
Babe Ruth's financial success was not limited to his baseball contracts alone. He was also known for his shrewd investments and business ventures. Ruth was an avid investor in real estate, particularly in New York City. He owned several properties, including a luxurious apartment on the Upper West Side.
Ruth's most notable investment was in the restaurant business. In 1921, he opened "Babe Ruth's," a popular eatery located near Times Square. The restaurant quickly became a hotspot for celebrities and sports enthusiasts, further adding to Ruth's wealth.
Endorsements and Public Appearances
Apart from his baseball career and investments, Ruth also earned a significant amount of money through endorsements and public appearances. As one of the most recognizable sports figures of his time, Ruth was in high demand for endorsements from various brands.
Ruth endorsed products ranging from tobacco and clothing to automobiles and food products. He was known for his larger-than-life persona and his ability to captivate audiences, which made him an ideal choice for advertisers.
Philanthropy and Retirement
Despite his lavish lifestyle and extravagant spending, Babe Ruth was also known for his generosity. He supported several charitable causes, including children's hospitals and orphanages. Ruth often visited hospitals to meet sick children and donated a portion of his earnings to these institutions.
After retiring from baseball in 1935, Ruth continued to be involved in the sport as a coach and ambassador. He made appearances at baseball events, signed autographs, and participated in charity games. Although his earnings decreased after retirement, he continued to enjoy a comfortable lifestyle.
The Estate of Babe Ruth
When Babe Ruth passed away on August 16, 1948, he left behind an estate valued at approximately $800,000. While this may not seem like a massive fortune compared to today's standards, it was a substantial amount during that era. Ruth's estate consisted of his investments, real estate holdings, and personal belongings.
Ruth's wife, Claire Merritt Ruth, inherited the majority of his estate. She continued to live a comfortable life after his passing, thanks to the financial security provided by Ruth's earnings and investments.
Babe Ruth was not only a legendary baseball player but also a shrewd businessman who amassed a considerable fortune during his lifetime. Through his baseball contracts, investments, endorsements, and business ventures, Ruth accumulated significant wealth. Despite his extravagant lifestyle, he also contributed to charitable causes and left a lasting legacy both on and off the field. While the exact amount of money Babe Ruth had when he died may not be comparable to today's athletes, it was undoubtedly a substantial sum at that time.
LATEST
- NEWS
- |
- ARTICLES
- |
- VIDEOS
FAN ARCH PODCAST NETWORK
