Dave Ramsey is an entrepreneur, author, and radio host whose financial advice has helped millions. Known for hosting The Dave Ramsey Show, he has risen to become a leading voice in the personal finance space. Dave Ramsey has an estimated net worth of $200 million and has come a long way since filing for bankruptcy!
Early Life
David Lawrence Ramsey III’s journey to financial success began in Tennessee, where his parents were real estate developers. They introduced him to finance at a young age, fostering his entrepreneurial spirit.
By 12, Ramsey started a small lawn care business, demonstrating early signs of his business acumen. At 18, he got his real estate license and began selling property while studying Finance and Real Estate at The University of Tennessee, Knoxville.
Ramsey amassed a real estate portfolio worth over $4 million, making him a millionaire at 26 years old. Unfortunately, changes in banking legislation led to his loans being recalled, and he was unable to pay them back, resulting in bankruptcy in 1988.
Recovery
Despite this setback, Ramsey turned his financial misfortune into an opportunity to help others navigate their financial lives. His recovery inspired him to offer financial advice to couples at his local church, eventually leading to the creation of The Lampo Group, a financial counseling service, in 1988.
Rise to Fame
Ramsey’s breakthrough came in 1992 after self-publishing his first book, Financial Peace. That same year, he began co-hosting The Money Game, a radio show in Nashville, which eventually evolved into The Dave Ramsey Show.
The program became a cornerstone of his brand and a nationally syndicated daily three-hour call-in show. Further solidifying his reputation, Ramsey debuted his nine-lesson video-based personal finance course, Financial Peace University, in 1994.
The Dave Ramsey Show also aired on Fox Business Network from 2007 to 2010, and later expanded to podcasts and YouTube, reaching a wider audience. In 2014, The Lampo Group rebranded to Ramsey Solutions, with a new 47-acre campus opened in Franklin, Tennessee in 2019.
Net Worth and Salary
Ramsey’s financial success can be attributed to his diversified business ventures, from his radio show, now broadcast on over 500 stations across the U.S. and Canada, to his best-selling books and financial counseling services. His show reaches over 16 million listeners and gives Dave an annual salary of $10 million.
Ramsey rose to prominence after stating that, by adopting his strategy, investors may make a 12% annual return on their real estate investments. Although many criticized him, he went on to build a portfolio that’s worth $150 million. This became a driving factor in his $200 million fortune.
Personal Life
Ramsey married Sharon Ramsey in 1982, and they have three children: Denise, Rachel, and Daniel, all of whom work for him. The family resides in Franklin, Tennessee, in a lavish home built after selling their previous home in 2021 for $10.2 million. An evangelical Christian, Ramsey has expressed conservative fiscal viewpoints, and believes in minimal government intervention in the economy.
