As she was the hugely successful founder of Liquid Paper, many have wondered about Bette Nesmith Graham’s Net Worth.
At the time of her death, it’s estimated that Bette Nesmith Graham had a net worth of around $50 million. However, it’s difficult to confirm the exact amount. This resourceful entrepreneur founded a widely successful business that grew exponentially over 20 years. But, shortly before her death, Graham sold the business, reportedly for just under $50 million.
That said, this amount would not have accounted for her personal net worth. Therefore, this blog post will further investigate Bette Nesmith Graham’s Net Worth.
Bette Nesmith Graham’s Career
This fantastic female entrepreneur began her career as a secretary working at Texas Bank and Trust in the 1950s. But dealing with typos made when using the electric typewriter proved problematic. So, Graham produced a solution guided by her knowledge of paint as an artist.
Using water-based paint as her base, Graham worked on perfecting her solution used to eliminate typing mistakes. Ironically, her managers disapproved of her concoction, but her coworkers absolutely loved it. She would, therefore, sell the mixture to them on the quiet.
However, in 1960, one of the bosses discovered what Graham had been up to, and she was fired. But that didn’t dampen her spirits, and she went straight into working on building a company around her product.
She called the product Liquid Paper. And Graham grew the business to a point where it was manufacturing 25 million bottles of solution each year.
The Sale of Liquid Paper
Eventually, in 1979, after 20 years of success, Graham sold Liquid Paper to a large company known as the Gillette Corporation. And it’s reported that it was sold for a massive $47.5 million.
However, when a business is sold, one must take capital gains tax into account, including other potential deductions. Therefore, Graham would not have received the full $47.5 million she reportedly sold the company for.
In addition, Graham was heavily involved in charity work. Therefore, a portion of this sale amount, including her own money, would have gone to charity.
Bette Nesmith Graham’s Net Worth
A simple calculation is used when determining someone’s net worth. Essentially, you would take the value of the person’s assets and subtract the total value of their liabilities. The figure you’re left with is that person’s net worth.
In the case of Bette Nesmith Graham, there is no official record indicating the value of her assets and liabilities at the time of her death. However, her estate was divided between her son and the Betty Clair McMurray Foundation when she passed away.
It has been estimated that Graham’s estate amounted to a total of roughly $50 million. Hence, we suspect that Bette Nesmith Graham’s Net Worth was approximately $50 million at the time of her death.