Chuck Hagel Net Worth

What is Chuck Hagel's Net Worth?

Chuck Hagel is an American politician and businessman who has a net worth of $5 million. Chuck Hagel served as the United States secretary of defense under President Obama from 2013 to 2015, and before that he was co-chairman of the President's Intelligence Advisory Board from 2009 to 2013 and a Republican US senator from Nebraska from 1997 to 2009. Among his activities in the business world, Hagel co-founded the mobile phone carrier Vanguard Cellular Systems, served as president of the McCarthy Group investment banking firm, and was chairman and CEO of the computerized voting machine manufacturer American Information Systems.

Early Life and Education

Charles Hagel was born on October 4, 1946 in North Platte, Nebraska as the eldest of four sons of Elizabeth and Charles. His brothers are Tom and Michael; the other brother, James, was killed in a vehicular accident when he was 16. Growing up, Hagel lived in various cities across Nebraska. After graduating from St. Bonaventure High School in Columbus in 1964, he attended the private for-profit Brown Institute, where he focused on radio and television. Hagel went on to obtain a Bachelor of General Studies degree from the University of Nebraska Omaha in 1971.

Military Service

Hagel served in the United States Army infantry during the Vietnam War. He was an infantry squad leader in the 9th Infantry Division from 1967 to 1968, serving in the same squad as his brother Tom. For his service, Hagel earned two Purple Hearts, the Republic of Vietnam Gallantry Cross, the Commendation Medal, and the Combat Infantryman Badge.

Career Beginnings

Following his military discharge, Hagel worked as a radio newscaster and talk show host in Omaha from 1969 to 1971. He then worked as a staffer for Republican congressman John Y. McCollister until 1977. After that, Hagel spent four years as a lobbyist for Firestone Tire and Rubber Company. In 1980, he was an organizer for Ronald Reagan's presidential campaign, and after Reagan was elected he became deputy administrator of the Veterans Administration. Hagel ended up resigning in 1982 due to tensions with VA administrator Robert P. Nimmo.

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Business Career, 1982-1996

In 1982, after leaving the government, Hagel co-founded the mobile phone carrier Collins, Hagel, and Clarke with Bill Collins and Don Clarke. A couple of years later, the company merged with another mobile phone carrier to form Vanguard Cellular. Hagel was a Vanguard employee and served as executive vice president until 1987, building a considerable fortune in the process. Meanwhile, he served as the president and CEO of the United Service Organizations. Hagel also sat on several boards of directors and advisory committees, including those of the American Red Cross and the Ripon Society. In 1992, he returned to Nebraska and became president of the McCarthy Group investment banking firm. Hagel subsequently became chairman and CEO of the computerized voting machine manufacturer American Information Systems. He resigned from the AIS board in 1995 to run for office.

US Senator

As a Republican, Hagel ran for the US Senate in the 1996 elections, campaigning for the seat left by retired Democrat J. James Exon of Nebraska. He ended up defeating sitting Nebraska governor Ben Nelson to become the first Republican in 24 years to win a Senate seat for Nebraska. Hagel won reelection in 2002 by the largest margin of victory in any Nebraska statewide race in history. During his tenure as a senator, Hagel maintained a traditional Republican stance and voted for the Patriot Act, the Iraq Resolution, and the 2001 and 2003 tax cuts. He also voted against No Child Left Behind and McCain-Feingold. Despite his early support of Bush and Cheney's policies, Hagel eventually became a vocal critic of the administration and compared the fiasco of the Iraq War to Vietnam. Additionally, he denounced the administration's handling of the 2006 Lebanon War. Hagel decided not to run for reelection in 2008 and left the Senate after his second term.

Post-Senate

After retiring from the Senate, Hagel published the book "America: Our Next Chapter: Tough Questions, Straight Answers" and went into academia. In early 2009, he became a professor at Georgetown University's Edmund A. Walsh School of Foreign Service. Additionally, Hagel became the chairman of the think tank the Atlantic Council; co-chairman of President Obama's Intelligence Advisory Board; and a member of the boards of directors of the Washington Center and the Public Broadcasting Service. He also had many positions in the private sector, including board appointments at Chevron Corporation, Corsair Capital, and Deutsche Bank.

US Secretary of Defense

In early 2013, President Obama nominated Hagel to succeed Leon Panetta as the United States secretary of defense. His nomination was criticized in many corners due to allegations of antisemitism, homophobia, and various controversial views and policy positions. Although Hagel's nomination was approved by the Committee on Armed Services, Republicans refused to close debate on his nomination the following day and successfully filibustered him. By the end of February 2013, the Senate voted for cloture on Hagel's nomination and confirmed him. He served as the secretary of defense under Obama until 2015, when he resigned due to disagreements with the administration over policies concerning the Islamic State.

Personal Life

Hagel married his first wife, Patricia Lloyd, in 1979. They broke up in 1981 and divorced the next year. In 1985, Hagel wed his second wife, Lilibet Ziller, with whom he has two children.

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