Tags: Bush | Likes | Make | Money | Hates | Spend

Bush Likes to Make Money, Hates to Spend It

Monday, 06 November 2000 12:00 AM

His friends "uniformly describe him as a penny pincher," according to Money magazine, which quotes childhood buddy Charles Younger as saying that Bush "would rather have you buy his dinner than vice versa."

And his longtime friend and gubernatorial chief of staff, Clay Johnson, told the magazine he "keeps the same friends and the same clothes for 30 years."

Adds Dan Bartlett, his campaign spokesman, "He can go for months wearing the same jacket."

But dedicated penny pincher that he is, Bush is anything but money crazed. Making money is simply what a Bush is supposed to do, according to Money magazine, which explains that accumulating big bucks is considered a sign of manhood among the Bush family.

His great-grandfather, for example, made a pile in steel and railroads; his grandfather, Sen. Prescott Bush, made his fortune in Wall Street before going to Congress; and his dad, former President George Bush, made his fortune in oil back in the 1940s.

But money didn’t come easily to Dubya – he went into the oil business in the 1980s when energy prices hit bottom, and his drilling ventures failed to pay off. Things were so bad he often joked he was all name and no money, a take-off on the old Texas joke about men who were "all hat and no cattle."

He didn’t make it big until he sold his interest in the Texas Rangers baseball franchise for a whopping $18 million on an initial investment of $606,000. In a lengthy story on his management of the team, the New York Times reported that Bush’s handling of the team was nothing short of superb. As a result, his partners awarded him an extra 10 percent of the sale price in recognition of his contributions to their success.

Nowadays his money is invested for him. Among his holdings are a piece of a three-store dry cleaning business in North Carolina that his money manager says has yet to make any money but is still a safe investment.

And friends say that he is getting a little more generous with his money. "He never gave me Christmas gifts before," said pal Charles Younger. "Now I get really nice gifts. A fancy jacket, a good tie. He’s changed a bit."

© 2019 Newsmax. All rights reserved.

   
1Like our page
2Share
Pre-2008
His friends uniformly describe him as a penny pincher, according to Money magazine, which quotes childhood buddy Charles Younger as saying that Bush would rather have you buy his dinner than vice versa. And his longtime friend and gubernatorial chief of staff, Clay...
Bush,Likes,Make,Money,,Hates,Spend
376
2000-00-06
Monday, 06 November 2000 12:00 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved