National Radio Hall of Famer Dave Ramsey is a renowned entrepreneur, bestselling author, and radio show host. He is known for hosting his nationally broadcasted The Dave Ramsey Show, which made him a leading figure in personal finance. Dave Ramsey has an estimated net worth of $200 million. He’s come a long way since filing for bankruptcy!
Early Life
David Lawrence Ramsey III was born on September 3, 1960, in Nashville, Tennessee. His parents were real estate developers who exposed him to finance from a young age. His father pushed him to start a venture when he was 12. So, he created a small lawn care business.
Ramsey completed the real estate evaluation when he was 18 and started selling property while attending The University of Tennessee, Knoxville. He studied for a degree in real estate and finance
He was earning a quarter of a million dollars every year and had a $4 million real estate portfolio when he was 26 years old. Unfortunately, he went bankrupt in 1988 and had to restart over again.
Recovery
Dave became an evangelical Christian after his downfall. A man in financial hardship approached him after church one day and inquired about how he had previously dealt with his financial challenges.
This sparked an idea in Ramsey’s head. He planned to pursue a career in financial counseling. He started when he promised to help his churchmate build a financial guide for his life.
Ramsey created The Lampo Group, now called Ramsey Solutions, a financial consulting business. His wealth management program began with 37 participants. After several years, it had expanded to more than 350 enrolled students.
Rise to Fame
Four years after filing for bankruptcy and founding The Lambo Group, he started to dive more into personal finance. He wrote his first of many books, Financial Peace, and self-published it in 1992.
In 1992, Ramsey began hosting The Money Game on local radio station WWTN/Nashville as one of three rotating presenters. The program eventually developed into what’s known today as The Dave Ramsey Show.
From 2007 through 2010, Dave’s radio program premiered on Fox Business Network. He also branched out to more modern mediums by turning his radio show into a podcast, making a website, and establishing a YouTube channel with 2.4 million subscribers.
Net Worth and Salary
The Dave Ramsey Show can be heard on over 500 stations across the US and Canada. It’s also available in podcast format on DaveRamsey.com, YouTube, and iHeartRadio. Weekly, the broadcast reaches over 16 million listeners. This is expected to give Dave an annual salary of $15 million.
Ramsey rose to prominence after stating that, by adopting his technique, investors may make a 12% yearly return on their real estate investments. Though many criticized him, he went on to build a portfolio that’s worth $150 million. This became a factor in his $200 million fortune.
Personal Life
Dave and Sharon Ramsey were married in 1982. Now, they live in a lavish home in Franklin, Tennessee. The couple has three children together: Rachel, Denise, and Daniel. Rachel is a part of the Ramsey Solutions team.
