Milton Friedman Net Worth (Updated 2026).
Milton Friedman, a name synonymous with modern economics, began his career in the early 20th century, a time marked by significant economic turmoil. Born in Brooklyn, New York, in 1912, Friedman’s interest in economics was sparked during his undergraduate years at Rutgers University. He went on to pursue his doctorate at Columbia University, where he studied under renowned economist Lionel Robbins, further solidifying his passion for the field. Friedman’s academic prowess and innovative thinking soon caught the attention of the University of Chicago, where he was offered a teaching position in 1946. It was here that Friedman began to make his mark, developing and popularizing his groundbreaking ideas on monetary policy and free markets.
**Milton Friedman’s Current Net Worth (2025)**
As of 2025, Milton Friedman’s current net worth is estimated to be around $5 million. This figure takes into account his extensive career in economics, his published works, and other ventures.
**Career**
Milton Friedman (1912-2006) was an American economist who made significant contributions to the field of economics. He served as a professor at the University of Chicago, where he was a key member of the Chicago School of Economics. Friedman is best known for his advocacy of free-market capitalism and his influence on the monetarist school of thought. He was awarded the Nobel Memorial Prize in Economic Sciences in 1976.
**Other Ventures**
Friedman was also a prolific writer, authoring numerous books and articles. His most famous work, “Capitalism and Freedom,” published in 1962, remains a seminal text in the field of economics. Friedman was also a regular columnist for Newsweek magazine and a prominent figure in the media, often appearing on television to discuss economic issues.
**Assets**
Friedman’s assets primarily consisted of his intellectual property, including his published works, and his stake in the Friedman Foundation for Educational Choice, which he co-founded with his wife, Rose Friedman. The foundation continues to promote school choice and educational reform today.
**Annual Income**
Throughout his career, Friedman’s annual income varied significantly. In his early years as a professor, his income was relatively modest. However, as his fame and influence grew, so did his income. In his later years, Friedman’s annual income was estimated to be in the millions of dollars, primarily from his speaking engagements, consulting work, and book royalties.
Frequently Asked Questions about Milton Friedman
**Frequently Asked Questions: Milton Friedman Net Worth**
1. What was Milton Friedman’s net worth?
Milton Friedman’s net worth was estimated to be around $10 million at the time of his death.
2. How did Milton Friedman make his money?
Friedman made his money primarily through his career as an economist, author, and professor. He was a senior research fellow at the Hoover Institution and a professor of economics at the University of Chicago. Additionally, he earned income from his books, articles, and lectures.
3. Was Milton Friedman a billionaire?
No, Milton Friedman was not a billionaire. His net worth was estimated to be around $10 million.
4. What was Milton Friedman’s occupation?
Milton Friedman was an economist, author, and professor. He was a senior research fellow at the Hoover Institution and a professor of economics at the University of Chicago.
5. What was Milton Friedman’s most famous work?
Friedman’s most famous work is “Capitalism and Freedom,” published in 1962. He also co-authored the popular economics textbook “A Monetary History of the United States, 1867-1960” with Anna Schwartz.
6. What was Milton Friedman’s Nobel Prize in Economic Sciences for?
Milton Friedman was awarded the Nobel Prize in Economic Sciences in 1976 “for his achievements in the fields of consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.”
7. When was Milton Friedman born?
Milton Friedman was born on July 31, 1912, in Brooklyn, New York.
8. When did Milton Friedman die?
Milton Friedman died on November 16, 2006, in San Francisco, California.
9. What was Milton Friedman’s political affiliation?
Milton Friedman was a libertarian and a strong advocate of free markets and limited government. He was also a significant influence on the Chicago School of economics.
10. What was Milton Friedman’s impact on economics?
Milton Friedman made significant contributions to the fields of macroeconomics, microeconomics, and monetary theory. His work on the quantity theory of money, the permanent income hypothesis, and the natural rate of unemployment are among his most influential contributions. He also played a key role in the development of monetarism, a school of thought that emphasizes the role of the money supply in determining the level of output and prices in the economy.
