Armand Hammer, born in 1898, began his career in the oil industry at a young age. After graduating from Columbia University, he joined his father’s company, the Union Oil Company of California, in the 1920s. Here, he honed his business acumen and developed a keen eye for opportunity.

In the 1930s, Hammer struck out on his own, founding the Occidental Petroleum Corporation. This company would become his lifelong passion and the vehicle through which he would amass his fortune and achieve fame. Under his leadership, Occidental grew from a small, regional player into a multinational corporation, with operations spanning the globe.

Armand Hammer’s Current Net Worth

As of 2025, Armand Hammer’s current net worth is estimated to be around $200 million. This figure is based on the most recent available information and takes into account his various business ventures and investments.

Career

Armand Hammer began his career in the oil industry, founding the Occidental Petroleum Corporation in 1920. He served as the company’s chairman and CEO for over five decades, growing it into a multinational corporation. Hammer was also a prominent art collector and philanthropist, donating numerous works to museums worldwide.

Other Ventures

In addition to Occidental Petroleum, Hammer has been involved in various other ventures. He was a founding partner of the Armand Hammer United World College, a residential high school that brings together students from around the world. He also founded the Armand Hammer Foundation, which supports educational, cultural, and scientific programs.

Assets

Hammer’s assets include a significant stake in Occidental Petroleum, as well as real estate holdings, including the Armand Hammer Museum of Art and Culture Center in Los Angeles. He also owned a vast collection of art, which was valued at over $100 million at the time of his death in 1990.

Annual Income

Hammer’s annual income varied throughout his career, but at the peak of his business success, he was earning tens of millions of dollars per year. In his later years, his income was primarily derived from dividends and investments, with an estimated annual income of around $5 million.

Frequently Asked Questions about  Armand Hammer

Armand Hammer Net Worth FAQs

1. What was Armand Hammer’s net worth?

Armand Hammer’s net worth was estimated to be around $200 million.

2. How did Armand Hammer make his fortune?

Armand Hammer made his fortune through his business ventures, primarily in the oil industry. He was the CEO of Occidental Petroleum, a company he inherited from his father.

3. Was Armand Hammer a philanthropist?

Yes, Armand Hammer was a philanthropist. He was a major donor to various arts and cultural institutions, including the Los Angeles County Museum of Art and the Hermitage Museum in St. Petersburg, Russia.

4. What was Armand Hammer’s political affiliation?

Armand Hammer was a Democrat and a major donor to Democratic political campaigns.

5. Did Armand Hammer have any children?

Yes, Armand Hammer had two children, a son named Michael and a daughter named Olivia.

6. What was Armand Hammer’s educational background?

Armand Hammer graduated from Columbia University with a degree in chemical engineering.

7. Was Armand Hammer involved in any controversies?

Yes, Armand Hammer was involved in several controversies throughout his life, including allegations of improper business dealings and political influence peddling.

8. What was Armand Hammer’s relationship with the Soviet Union?

Armand Hammer had a long-standing relationship with the Soviet Union, which he maintained throughout his life. He was a major advocate for U.S.-Soviet trade and was involved in several business ventures with Soviet entities.

9. When did Armand Hammer pass away?

Armand Hammer passed away on December 10, 1990.

10. What was Armand Hammer’s legacy?

Armand Hammer’s legacy is complex and multifaceted. He was a prominent businessman, philanthropist, and political figure who left a lasting impact on various industries and institutions. Despite his controversial aspects, he is remembered for his significant contributions to the arts, culture, and U.S.-Soviet relations.