What was Herman Cain's Net Worth?
Herman Cain, an American entrepreneur and politician, had a net worth of $7 million at his death in 2020. Known primarily for his bid as a Republican Presidential candidate during the 2012 election, Cain held numerous executive roles at corporations like Pillsbury, Burger King, and Godfather's Pizza. He also worked for the Federal Reserve Bank of Kansas City and ran an unsuccessful presidential campaign in 2012. Cain passed away from COVID-19 complications in 2020, after opposing masking protocols.
Early Life and Education
Born on December 13, 1945, in Memphis, Tennessee, Herman Cain was raised by his parents, Lenora, a domestic worker, and Luther, who held multiple jobs including barber, janitor, and chauffeur. Growing up in Atlanta's West Side, he attended S. H. Archer High School and the Antioch Baptist Church North. Cain graduated from Morehouse College in 1967 with a bachelor’s degree in mathematics and later earned a master’s degree in computer science from Purdue University in 1971.
Career Beginnings in Business
While at Purdue, Cain worked full-time as a ballistics analyst for the U.S. Department of the Navy. Post-graduation, he joined Coca-Cola as a computer systems analyst in Atlanta. Moving on to Pillsbury Company in Minneapolis, Cain became the director of business analysis in the restaurant and foods group. In the early 1980s, he managed 400 Burger King locations in Philadelphia, propelling him to the role of CEO at Godfather's Pizza. His leadership revived the struggling chain by closing 200 restaurants and eliminating numerous jobs.
Federal Reserve Bank
Cain served as chairman of the board for the Federal Reserve Bank of Kansas City Omaha Branch from 1989 to 1991. In 1992, he joined the board of the Federal Reserve Bank of Kansas City, eventually becoming its chairman from 1994 to 1996.
Further Business Career
After leaving Godfather's Pizza in 1996, Cain became CEO of the National Restaurant Association in Washington, D.C., using this position to lobby against progressive causes like increasing the minimum wage and smoking regulations. He also held board positions at companies such as Nabisco, Whirlpool, and Reader’s Digest.
Political Career
Cain's political involvement increased as he served as a senior economic advisor for Bob Dole's 1996 presidential campaign. He briefly ran for president in 2000 and for the U.S. Senate in Georgia in 2004 but lost in the primaries. A Tea Party activist by 2010, Cain announced his candidacy for the 2012 presidential election, promoting his controversial “9-9-9 Plan.” His campaign faced significant hurdles following multiple allegations of sexual harassment, leading to the suspension of his campaign in December 2011.
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Media Appearances
From 2008 to 2011, Cain hosted "The Herman Cain Show" on Atlanta's WSB radio station, continuing as a commentator after it ended. In early 2013, he succeeded Neal Boortz on a Westwood One Radio talk show until its termination in 2016. That same year, Cain joined Fox News as a contributor.
Personal Life and Death
In 1968, Cain married Gloria Etchison from Atlanta, with whom he had two children, Melanie and Vincent. Diagnosed with colon cancer in 2006, he underwent treatment that led to remission. However, in 2020, after attending a Trump rally maskless during the COVID-19 pandemic, Cain contracted the virus and succumbed to complications in July 2020 at age 74.
