David Lawrence Ramsey III (born September 3, 1960) is an American radio personality known for offering financial advice. He is the owner and CEO of Ramsey Solutions and co-hosts the nationally syndicated radio program The Ramsey Show.
Ramsey has authored several books, including the New York Times bestseller The Total Money Makeover, and hosted a television show on Fox Business from 2007 to 2010.
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Dave Ramsey Net Worth
Dave Ramsey has a net worth of $200 million, with $150 million of it coming from his real estate portfolio. By 1986, Ramsey had built a real estate portfolio worth over $4 million. However, his wealth was short-lived as his $1.2 million in loans and credit lines were recalled in 1987 after the Competitive Equality Banking Act.
Unable to repay, he filed for bankruptcy in 1988. During his recovery, Ramsey began offering financial advice at his local church and founded The Lampo Group.
Early Life
Ramsey was born in Antioch, Tennessee, to a blue-collar family primarily involved in housing development and construction. He attended Antioch High School, where he played ice hockey.
At 18, Ramsey took the real estate exam and began selling property, working while attending the University of Tennessee, Knoxville, where he earned a Bachelor of Science degree in finance and real estate.
Career
By 1986, Dave Ramsey had built a real estate portfolio worth over $4 million, but in 1987, the Competitive Equality Banking Act led banks to call in his $1.2 million in loans, causing him to file for bankruptcy in 1988. After recovering financially, he began offering advice at his local church and founded Lampo Group in 1988.
In 1992, he wrote Financial Peace and became a radio host. His company rebranded to Ramsey Solutions in 2014, and he has written several bestselling books. He was inducted into the National Radio Hall of Fame in 2015.
Personal life
Dave Ramsey married his wife Sharon in 1982, and they have three children, including Rachel Cruze, all of whom work for Ramsey Solutions. As of 2018, his net worth was estimated at $55 million.
In 2021, he sold his custom-built home in Nashville for $10.2 million after over a decade of living there. An evangelical Christian, Ramsey describes himself as fiscally and culturally conservative. He has criticized politics for economic dependence and has expressed support for Donald Trump in the 2024 presidential election.
What is Dave Ramsey’s famous saying?
Dave Ramsey’s famous saying is: “You must gain control over your money, or the lack of it will forever control you. For your own good, for the good of your family and your future, grow a backbone.”
Conclusion
Dave Ramsey’s journey from a young real estate agent to a multi-millionaire financial advisor encapsulates the essence of American success. His teachings, while sometimes controversial, have influenced countless individuals in their financial journeys.
FAQs about Dave Ramsey
- What is Dave Ramsey’s net worth? – Approximately $280 million.
- How does Dave Ramsey earn his income? – Through his books, investments, radio show, and speaking engagements.
- What is Dave Ramsey’s investment strategy? – Focusing on debt elimination, emergency fund savings, and investing in growth stock mutual funds.
- Has Dave Ramsey faced any controversies? – Yes, including a notable incident in 2014 involving his response to former employees’ discussions about working conditions.
- What are Dave Ramsey’s views on debt and credit cards? – He strongly opposes the use of debt and credit cards, advocating for the debt snowball method and cash use
