Here's what it was like to be George Washington, who will soon be dethroned as the richest president in US history

As Brett LoGiurato previously reported for Business Insider, the real estate mogul released a report in July claiming to be worth around $8.7 billion. However, Forbes estimates his net worth is closer to $3.7 billion.

Since the president-elect hasn't released his tax returns, his financial situation is still somewhat unclear.

However, it looks like the US will appoint its first billionaire to the presidency.

Until now, the wealthiest president in US history also happened to be the first: George Washington.

The soldier, farmer, brewer, entrepreneur, and statesman is thought to have had an estimated net worth of $525 million in today's dollars. He not only earned more than other presidents - his salary was twice the total US budget in 1789, 24/7 Wall Street reports - but he owned over 50,000 acres of land.

Read on to learn more about the first, and richest, US president:

This is an updated version of a post by Kathleen Elkins.