How Pat Robertson Achieved a Net Worth of $100 Million
Pat Robertson is a media mogul, political commentator, televangelist, former Southern Baptist minister, and former Republican presidential candidate. His successful careers in religion, the media, and politics means that he has become a wealthy man. Although approximations of his wealth vary, some reports say that Pat Robertson’s net worth is $100 million. He is how Pat Robertson made his money.
Pat Robertson’s Early Life
Marion Gordon’ Pat’ Robertson was born in Virginia on March 22, 1930, and he was raised as apart of a prominent political family. He attended the McDonogh School in Maryland and then The McCallie School in Tennessee before gaining admission to Washington and Lee University. At the latter, he graduated magna cum laude with a B.A. in history.
After graduating, Robertson was drafted into the Marine Corps, and he completed some of his military service in North Korea and then in Japan. When he returned to the United States, he completed a law degree at Yale University, although he later failed his exam to the bar. Although he had intended to pursue a career in law, he underwent a religious conversion after meeting the Dutch missionary Cornelius Vandebreggen. In 1959, he received a Master of Divinity Degree and was ordained as a minister of the Southern Baptist Convention two years later.
Beginning His Broadcasting Career and Establishing CBN
Robertson bought a small UHF station in Portsmouth in 1960, and this enabled him to establish the Christian Broadcasting Network (CBN). However, the network was not given this name until 1977 when Robertson bought a local leased access cable TV channel. To raise awareness and gain interest in his channel, Robertson went door-to-door and canvased churches in the local area to encourage people to buy cable boxes so they could access his channel. Robertson received donations for public speaking, which allowed him to continue establishing the network.
His network has come a long way since the early days. Now, CBN is available in 180 countries, and it is broadcast in 71 languages. The success of this channel led to Robertson founding the CBN Cable Network, which was later called the CBN Family Channel, and then later the Family Channel. The Family Channel was hugely profitable, and this created an issue for Robertson, as CBN is a no-profit organization. Therefore, he could no longer keep the Family Channel under the CBN umbrella. Instead, he formed International Family Entertainment Inc. in 1990. Seven years later, he sold the Family Channel to the News Corporation, and it was then renamed the Fox Family Channel. Robertson’s program ‘The 700 Club’ continued to air twice daily as part of the conditions of the sale.
Founding a University
Robertson founded the CBN’s Virginia Beach Campus, which was later renamed Regent University in 1989. He then founded the American Center for Law & Justice in Washington, D.C. It is a major law firm that is associated with Regent University.
Robertson’s Presidential Bid
In 1986, Pat Robertson announced that he intended to run for the Republican nomination for the President of the United States if three million people volunteered for his campaign by the following year. He got the response for which he was hoping, and he received millions of dollars in campaign donations. To run in the presidential campaign, Robertson had to surrender his ministerial credentials, and this led to him handing over CBN to one of his sons. Although Robertson’s campaign got off to a good start, many people considered it a long shot as he was running against Vice President George H. W. Bush. Robertson realized before the multiple-state primaries began that his campaign was to no avail. Therefore, he ended his campaign and told his supporters they should give their votes to Bush, who eventually won. His failure in the presidential campaign led to Robertson deciding to return to religious broadcasting.
Robertson has written many books and other publications. His first was ‘Shout It from the Housetops,’ which is an autobiography that was published for the first time in 1972, then reprinted in 1995. Since then, Robertson has released a further 17 publications, most of which have a religious theme. Robertson’s 1991 publication ‘The New World Order’ became a New York Times bestseller. His most recent publication was a financial guide called ‘Right on the Money: Financial Advice for Tough Times,’ which was published in 2009.
Other Business Interests
In addition to his business interests in broadcasting, Pat Robertson also has business interests in many other fields. He has produced and marketed a weight-loss shake he created and has a deal with the General Nutrition Center. He was also part of a joint venture with the Bank of Scotland to provide financial services in the United States, but the venture was canceled following comments made by Robertson about homosexuals. Robertson has also had business ventures in various African countries, including a diamond-mining contract in Zaire and a gold-mining contract in Liberia. Another of his business interests during the 1990s was racing thoroughbred horses, and his most successful runner was a gelding called Tappat. Robertson has also had many controversial business interests that have led to him facing criticism.
Pat Robertson’s Net Worth
According to Celebrity Net Worth, Pat Robertson’s net worth is $100 million. However, there are some estimates that he has accrued even more wealth. He has made his money through his various business interests, including broadcasting. He has also made money from the sales of his various publications.
His Personal Life
Pat Robertson is married to Adelia’ Dede’ Elmer. They met while she was studying to become a nurse, and she was also a fashion model and a beauty queen in the Miss Ohio State contest. The couple married in 1954 and went on to have four children together. They now also have 14 grandchildren and seven great-grandchildren.