What is Dave Ramsey’s net worth?
|Net Worth||$200 Million|
|Source of Wealth||Personal Finance Personality, Businessman, |
Author, Radio Show Host
|Date of Birth||September 3, 1960|
|Height||5’10 / 178 cm|
|Place of Birth||Antioch, Nashville, Tennessee|
|Partner||Sharon Ramsey (m.1982)|
The Usual Intro
Dave Ramsey is an American radio host, author, motivational speaker, and financial guru. He is best recognized for hosting his show, “The Dave Ramsey Show.” Ramsey has also released several New York Times Bestselling books in his career.
Ramsey is considered an authority in the world of personal finance and investment. While some of his teachings are up for contention, his $200 million net worth speaks for his ability as a businessman.
Before the Spotlight
David Lawrence Ramsey III was born on September 3, 1960, in Antioch, Nashville, to parents with a background in real estate. He studied at the local Antioch High School and completed his bachelor’s at The University of Tennessee in Knoxville. Ramsey graduated with a degree in finance and real estate.
During his teen years, Ramsey was particularly fond of Ice Hockey. He had also developed an interest in real estate due to his family background. Ramsey credits his father for developing his work ethic and introducing him to the world of business and investing.
At age 12, when Ramsey asked his father for a popsicle, his father told him he was old enough to earn it himself. Shortly after this exchange, the young Ramsey started his lawn care business.
Ramsey set foot in the real estate market at 18 and possessed an impressive $4 million portfolio in 1986. A change in banking policies in 1987 led to banks demanding that Ramsey pay back $1.2 million worth of loans he had previously acquired within 90 days. Being unable to pay the large sum in such a limited time, Ramsey filed for bankruptcy in 1998.
The Journey to Success
The massive hit in 1998 left Ramsey’s real estate portfolio somewhat paralyzed for the following few years. He decided to use his extensive knowledge in real estate to guide others looking to invest. He founded the financial counseling service “The Lampo Group” in 1998 and later renamed it “Ramsey Solutions” in 2014.
Seeing a positive public response to his efforts, Ramsey decided to cement himself as a financial advisor and mentor in 1992 by becoming a lead host in “The Money Game.” This radio broadcast later developed into the acclaimed “The Dave Ramsey Show” in 1999.
The same year, Ramsey self-published his debut book, “Financial Peace,” in which he condensed his learnings in real estate. So far, Ramsey has released five books dedicated to personal finance – three of which boast the New York Times Bestseller status. Ramsey has released some books for children as well.
In 1994, Ramsey released his personal finance course, “Financial Peace University.” The course established itself particularly well in Christian communities, perhaps because of how outspoken Ramsay is about his faith.
Today, Ramsey boasts an impressive $200 million net worth. Some estimates suggest that as much as $150 million of his net worth can be credited to his massive real estate portfolio, which he has built over decades.
The Best Moments
- Founded “The Lampo Group” in 1998.
- Joined “The Money Game” radio broadcast in 1992.
- Released his first book, “Financial Peace,” in 1992.
- Released his dedicated personal finance course, “Financial Peace University,” in 1994.
The Private Side
Ramsey is not a figure of political influence, nor does he frequently touch on political topics. While he hasn’t expressed support for any particular politician, he has stated that he leans towards conservatism.
Ramsey married actress Sharon in 1982. They have been together since and appear to have a healthy marriage. The pair have three children, and Sharon plays an integral part in the management of Ramsey Solutions. Her current official title is the “CEO of Domestic Engineer.”
While Dave Ramsey is viewed in a good light by most of his fan-followers, he has been on the receiving end of harsh criticism multiple times in the past. Some of his financial teachings, especially his advice to invest heavily in stocks, have faced strong opposition from other prominent experts in the personal finance community.
Media reports of Ramsey mocking and feuding with his employees have caused considerable harm to his reputation. He has also been sued a few times.
From 2020 to 2021, Ramsey received widespread criticism for his poor handling of the COVID-19 outbreak. Ramsey solutions remained active and hosted large meetings even though several in-house employees had tested positive for the virus. Ramsey himself publicly advocated against the use of face masks and similar equipment.
Dave Ramsey’s Related YouTube Video
How To Become A Millionaire – Dave Ramsey Rant
Famous Quotes of Dave Ramsey
The following quotes show us Dave Ramsey’s knowledge and experience in finance and investment:
- “If you’re doing something like scheduling utility payments to come through your debit card or out of your personal checking account, that’s perfectly fine. But there are much safer ways to handle situations with debt collectors. You can send a money order overnight, or wire the cash to them.”
- “The thing I have discovered about working with personal finance is that the good news is that it is not rocket science. Personal finance is about 80 percent behavior. It is only about 20 percent head knowledge.”
- “Debt collectors like to play on your emotions because they think you’ll give in and do something you can’t really afford to do. Most of them don’t care about you or your situation as long as they get some money.”
The Social World
Dave Ramsey is active on social media. Here are the links to his official accounts, along with the number of his following:
- Facebook: 5.6 million followers.
- Twitter: 948K followers.
- Instagram: 3.2 million followers.
- YouTube: 2.45 million subscribers.
Lessons for Entrepreneurs
Dave Ramsey is a financial advisor, best-selling writer, and motivational speaker. Here are some of the lessons he teaches us in speech and writing:
- Don’t fall into debt. According to Dave Ramsey, being debt-free is the first and most important step to financial freedom.
- Start young. Ramsey started business at age 12, after being inspired by his father.
- Manage expenses. Ramsey goes into detail on how households should manage their income and expenses. For example, he suggests that 15% of your income should go towards a retirement fund.
- Be persistent. Despite ending up bankrupt in 1988 because of an extravagant investment, Ramsey did not give up on real estate. He now boasts a $150 million portfolio.
The Unusual Stuff
Some interesting facts about Dave Ramsey you might not have known before:
- Dave Ramsey loves cooking and advocates for clean, budget-friendly eating.
- In 2021, Ramsey sold his custom-made home in Nashville, Tennessee for a hefty $10.2 million.
- His course, the “Financial Peace University,” has over 5 million students.
- Ramsey paid for his college fees using money he earned himself through business.
Answering Frequent Questions
What does Lampo in “The Lampo Group” mean?
Lampo, in “The Lampo Group,” draws inspiration from this verse in the Bible: Matthew 5:15 “Don’t hide your light under a bushel, but put it on a lampstand for all to see.”
How long is the Dave Ramsey course?
The “Financial Peace University” is a 9-week-long course.
Where is Dave Ramsey now?
Dave Ramsey resides in Franklin, Tennessee, along with his wife and children.
The Closing Remarks
Dave Ramsey has been making headlines lately with the results of a 2021 discrimination lawsuit. The plaintiff in this court case, Julie Anne Stamps, alleged that she had been fired from the company for coming out as a lesbian in 2020. While Ramsey Solutions initially denied the allegations, they recently settled with Anne Stamps for $76,900.