Rumors Swirled For Years About Joseph P. Kennedy’s Money, But The Secret To His Wealth Is Surprising

Even with sons as revered and world-famous as John F. Kennedy and Robert Kennedy, Joseph P. Kennedy spent many of his 81 years away from the limelight. But a life lived in the shadows doesn’t necessarily have to be an unsuccessful one, as the Kennedy family patriarch definitively proved. In fact, over the decades, Joseph Sr. managed to build a substantial empire – and he did so by putting his money in a few surprising places.

What’s more, Joseph Sr. became extremely rich at a time when many others suffered greatly – during the Wall Street Crash of 1929 and the subsequent Great Depression. And from there, he began to invest his cash wisely – and perhaps illegally. Some say, for instance, that Joseph Sr. used Prohibition as an opportunity to make serious cash from bootlegging.

But the truth of the matter is a little more complex than that. After his time at Harvard, you see, Joseph Sr. set about making money in earnest, scooping up and selling stocks at just the right moments to profit handsomely. Even so, at that point, the head of the Kennedy family had a long way to go – and many more methods to try – before amassing a fortune that would see him join the ranks of the very wealthiest Americans.

How did Joseph Sr. start off on his journey to millions? Well, naturally, it all began with his birth in 1888 to Patrick Joseph “P.J.” Kennedy and his wife, Mary. Both P.J. and Mary had Irish immigrant parents, and this meant the American-born Kennedys were barred from mixing with high society in their hometown of Boston. Instead, P.J. and other Irish Catholics got involved in politics – more specifically, by working to promote the Democratic Party.

In any other world, though, the Kennedys would have easily slotted in with members of the upper crust. P.J. had investments and a thriving saloon, you see, as well as his place in the local political scene. And owing to that success, he provided a cushy life for Joseph Sr. and his younger sisters, Mary and Margaret. Ultimately, then, the eldest son of the family went to the prestigious Boston Latin School and then on to Harvard.