John Major’s Net Worth: How the Former British Prime Minister Made $50 Million.
What is John Major’s net worth?
John Major is a British conservative politician with an estimated net worth of $50 million. He served as Prime Minister of the United Kingdom from 1990 to 1997. Prior to his premiership, Major represented Huntingdon as an MP and held important positions such as Foreign Secretary and Chancellor of the Exchequer during the latter part of Margaret Thatcher’s administration. .
During his tenure as Prime Minister, Major introduced the Citizen’s Charter, deployed British forces in the Gulf War, and implemented various criminal justice and education reforms, among other initiatives. In 1999 he was awarded the title of Companion of Honor of the Queen and retired from Parliament in 2001. On St George’s Day in 2005 he was made a Knight Companion of the Most Noble Order of the Garter by Queen Elizabeth II.
Early life
John Major was born on March 29, 1943 in St Helier, Surrey, England, to Gwen and Tom, a former music hall performer. He had two older siblings, Terry and Pat. Following German bombing of their Surrey neighborhood during the Second World War, the family moved to Saham Toney in Norfolk. Major began his education at Cheam Common School in 1948, where he developed a passion for reading as well as football and cricket.
He then attended Rutlish School. The family’s financial situation deteriorated in the 1950s when Major’s father fell ill and a recalled business loan forced them to move into a small flat in south London. Additionally, Major left school just before his 16th birthday in 1959.
Early career
After completing his studies, Major took a position as a clerk at the insurance brokerage firm Price Forbes; however, he soon resigned. He then worked with his brother in the family garden ornament business for several years and became a member of the Brixton Young Conservatives. In late 1962, Major began work at the London Electricity Board.
Throughout the 1960s he became increasingly involved in politics, supporting local Conservative candidates Kenneth Payne and Piers Dixon in their respective general election campaigns. Eventually Major left the London Electricity Board to join the District Bank, and a year later moved to Standard Bank. In 1968 he took on his first public political role when he was elected as a Conservative councilor on Lambeth London Borough Council. A few years later, he was named chairman of the housing committee.
MP
In the 1979 general election, Major won the Conservative Parliamentary seat for Huntingdon as the Conservative Party returned to power under the leadership of Margaret Thatcher, who became the new Prime Minister. During the early years of Thatcher’s administration, Major held several junior government posts, such as parliamentary private secretary and deputy whip. After the 1987 election, he moved into Thatcher’s cabinet, taking on the role of Chief Secretary to the Treasury. Subsequently, he was elevated to the position of Foreign Minister and then appointed Chancellor of the Exchequer.
Prime Minister
In the late 1990s, Major became Prime Minister of the United Kingdom following Thatcher’s resignation. Two years later, he successfully led the Conservative Party to another electoral triumph, receiving more than 14 million votes, a record for a British political party. Major remained in power until 1997, when the Labor Party, led by Tony Blair, decisively defeated the Conservatives to regain governance.
During his seven-year tenure, Major was responsible for several notable initiatives. He introduced the Citizen’s Charter at the start of his premiership, aimed at improving public services across the UK. He abolished the poll tax, replacing it with the council tax, and played a central role in negotiating the Maastricht Treaty for the European Union. Additionally, he launched the Northern Ireland peace process.
On the international front, Major deployed British forces during the Gulf War and managed the peaceful transfer of Hong Kong to China. However, his “Back to Basics” campaign, which sought to promote traditional family values, came under heavy criticism. Other notable actions during his administration included education and criminal justice reforms, as well as the privatization of the railroads and coal industry.
In mid-1995, a series of scandals and internal divisions within the Conservative Party prompted Major to resign as party leader; nevertheless, he sought and won re-election. Despite this, public perception of his leadership remained unfavorable, and by the end of 1996 his government had lost its majority in the House of Commons. This ultimately led to a substantial Labor Party victory in the 1997 election, marking the end of 18 years of Conservative rule. Following Tony Blair’s accession to the post of Prime Minister, Major resigned as leader of the Conservative Party.
Post-political activities
After retiring as an MP in 2001, Major engaged in a wide range of activities encompassing sport, philanthropy and business. In 2005 he was elected to the Marylebone Cricket Club committee, and two years later he published a book detailing the history of cricket. Charitably, he has taken on the role of Chairman of Asthma UK and has become a patron of organizations including Sightsavers UK, Mercy Ships and the Prostate Cancer Charity.
In the business sector, Major has accepted positions as Senior Advisor of Credit Suisse, Chairman of the Board of Senior Advisors of Global Infrastructure Partners, and Chairman of the International Advisory Board of the National Bank of Kuwait. He also participated in various think tanks.
Personal life
In 1970, Major married Norma Johnson, who was also a member of the Young Conservatives. The couple have two children, Elizabeth and James. In 2002, it emerged that Major had had a four-year extramarital affair with Conservative politician Edwina Currie, from 1984 to 1988.
John Major’s career is a testament to his resilience, adaptability and dedication to public service. As prime minister, he navigated a tumultuous political landscape, overseeing significant reforms in education, criminal justice and the economy.
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His leadership in international affairs, such as the Gulf War and the peaceful handover of Hong Kong, cemented his legacy on the world stage. After politics, Major continued to contribute through his philanthropic work, business roles and writing. With a net worth of $50 million, Major’s life reflects a successful blend of political success, personal integrity, and continued influence in various industries.