Introduction
Michael Kennedy, the late son of Robert F. Kennedy, who died in a skiing accident in 1997, left behind a secret fortune that only became known to the public after his death. Michael’s net worth in 2021 is estimated to be in the millions, which has come as a surprise to many. This post aims to uncover Michael Kennedy’s secret fortune and give a glimpse into his life that was not widely known.
Who was Michael Kennedy, and how did he accumulate his wealth?
Michael Kennedy was the seventh child of Robert F. Kennedy, born in 1958. After completing his education, Michael began his career as an environmental lawyer but later shifted to business. He was the co-founder and managing director of Aspiration Partners, a private equity firm. Under his leadership, the firm invested in many successful companies, which led to Michael accumulating a considerable amount of wealth.
The Kennedy Family Fortune
The Kennedy family is known for their wealth, which was inherited from Joseph P. Kennedy, Michael’s grandfather. They made most of their fortune through investments in a wide range of businesses, including liquor, real estate, movie production, and oil. The estimated net worth of the Kennedy family as of 2021 is around $1 billion.
Michael Kennedy’s Net Worth
Michael’s net worth at the time of his death was estimated to be around $50 million. The assets that contributed to his fortune included real estate holdings, investments in various companies, and inheritance from his family. His estate included a beachfront home in Cape Cod that was sold for $6 million and a New York City condo worth $5 million.
The Controversy Surrounding Michael Kennedy’s Wealth and his Estate
Michael’s sudden demise left behind a significant legal battle for his family. The controversy surrounding his ownership of the Cape Cod beachfront home led to a legal dispute between his wife and his siblings. This dispute was settled in 2000, with his siblings agreeing to sell the house and split the proceeds with Michael’s wife.
How Does Michael Kennedy’s Net Worth Compare to Other Kennedys?
Michael’s net worth is considerably lower than that of his siblings, including Ted Kennedy Jr., who is estimated to be worth around $50 million. His net worth was also lower than some of his cousins, including Caroline Kennedy, the former US Ambassador to Japan, and Maria Shriver, a former journalist and the niece of John F. Kennedy.
FAQs
1. How did Michael Kennedy accumulate his net worth?
Michael Kennedy accumulated his net worth through investments in various companies as the co-founder and managing director of Aspiration Partners.
2. What was the cause of Michael Kennedy’s death?
Michael Kennedy died in a skiing accident in 1997.
3. How much was Michael Kennedy’s estate worth?
Michael Kennedy’s estate was estimated to be worth around $50 million.
4. What led to the controversy surrounding Michael Kennedy’s ownership of the beachfront home?
Michael Kennedy’s ownership of the beachfront home was disputed by his wife and siblings, which led to a legal battle. The dispute was settled in 2000, with the siblings agreeing to sell the house and split the proceeds with Michael’s wife.
5. How does Michael Kennedy’s net worth compare to other Kennedys?
Michael Kennedy’s net worth is considerably lower than that of his siblings and some of his cousins.
6. What was Michael Kennedy’s career?
Michael Kennedy began his career as an environmental lawyer but later transitioned to business.
7. What was the Kennedy family’s source of wealth?
The Kennedy family made most of their wealth through investments in various businesses, including liquor, real estate, movie production, and oil.
Conclusion
The late Michael Kennedy left behind a secret fortune that has come to light only after his death. His net worth of around $50 million was accumulated through investments in various companies as the co-founder and managing director of Aspiration Partners. The controversy surrounding his estate and ownership of the beachfront home has kept the public’s curiosity about Michael Kennedy’s life and wealth alive. His net worth may be lower than some of his relatives, but it is a significant amount nonetheless. Michael’s life serves as a reminder of the Kennedy family’s legacy of wealth and their contributions to business and politics in the United States.