What was Neil Armstrong's Net Worth?
Neil Armstrong, an American astronaut, public speaker, corporate board member, aeronautical engineer, and naval aviator, had a net worth of $8 million at the time of his death in 2012 (adjusted for inflation). As the first human to walk on the moon, Armstrong earned his place in history. After resigning from NASA in 1971, he taught Aerospace Engineering at the University of Cincinnati.
Estate Value and Death Lawsuit
In July 2019, Neil's family earned $12 million auctioning off his prized possessions. The items included childhood mementos and moon landing paraphernalia.
The Armstrong family sued the hospital where Neil died for negligence. The hospital settled by paying $6 million, of which $5.2 million was shared between his two sons. The rest benefited his siblings and grandchildren. His assets, primarily in stocks, were placed in a trust for his sons.
Moon Quote
While on the moon, Neil Armstrong delivered one of history's most famous quotes:
"That's one small step for man, one giant leap for mankind."
Interestingly, the intended line was:
"That's one small step for a man, one giant leap for mankind."
The missing "a" changed the meaning slightly but was lost in transmission.
Creative Commons/Public Domain
Early Life and Education
Born in 1930 in Wapakoneta, Ohio, Neil Armstrong was the eldest of three children. His father’s job as a state auditor meant the family moved frequently, living in 16 towns. They finally settled in Wapakoneta in 1944.
Armstrong attended Blume High School and took flying lessons at the local airfield. By age 16, he had a student flight certificate. He later studied aeronautical engineering at Purdue University.
Naval Service
In 1949, Armstrong joined the Navy, becoming a naval aviator in 1950. He served in the Korean War, piloting a Grumman F9F Panther. During a mission, his plane was damaged by an anti-aircraft cable. His bravery earned him the Air Medal, two gold stars, and other service medals.
After his commission ended in 1952, Armstrong stayed in the Navy Reserve for eight years.
Postwar and Test Pilot Career
Armstrong completed his bachelor's degree in 1955 and became a test pilot at the National Advisory Committee for Aeronautics' High-Speed Flight Station at Edwards Air Force Base. He flew over 200 different aircraft models. In 1958, he joined NASA.
Via NASA/Creative Commons Public Domain
Astronaut Program
In 1960, Armstrong was part of the X-20 Dyna-Soar program and was later selected as one of seven pilot-engineers. In 1962, he applied to become an astronaut and made his first spaceflight in 1966 as command pilot of Gemini 8, performing the first docking of two spacecraft.
Apollo 11
In 1968, Armstrong became the commander of Apollo 11. On July 21, 1969, he and Buzz Aldrin landed on the Moon. Armstrong’s famous words were immortalized: "That's one small step for man, one giant leap for mankind." They returned to Earth and were celebrated worldwide. Armstrong, Aldrin, and Michael Collins received the Presidential Medal of Freedom.
NASA/Newsmakers
Post-Apollo Career
Armstrong left NASA in 1971 to teach Aerospace Engineering at the University of Cincinnati. He resigned in 1980. In 1986, Armstrong joined Ronald Reagan's Rogers Commission to investigate the Challenger disaster.
Throughout his career, Armstrong served as a spokesman for various businesses, such as Chrysler and the Bankers Association of America, and was on the board of multiple companies.
Personal Life
Armstrong met Janet Elizabeth Shannon at a college party, and they married in 1956. They had three children: Eric, Karen, and Mark. Karen passed away from pneumonia in 1962. Armstrong and Janet divorced in 1994, and he later married Carol Held Knight. They lived in Indian Hill, Ohio.
In 2012, Armstrong underwent bypass surgery but developed complications, passing away at 82. His ashes were scattered in the Atlantic Ocean from the USS Philippine Sea.
