Doug Coe was an American associate director of the Christian Organization “The Fellowship”. He was a prominent evangelical Christian figure of the 20th century. Doug Coe net worth before his death was $3 million.
Doug was born on October 20, 1928, in Medford, Oregon. He was the son of Milton Evans and Loda Helene. His father was a public school teacher. His paternal grandfather, Curtis Pearre Coe, was a Baptist minister and missionary.
He went to Willamette University in Salem where he earned a Bachelor of Science degree from Willamette University. During his time as a college student, he became involved with ‘Young Life’, a campus youth ministry in Oregon and went on to start a chapter of InterVaristy Christian Fellowship with Roy Cook.
In 1958, at the age of 30, Coe was employed by Vereide at the International Christian Leadership on Dupoint Circle in Washington D.C. and five years later he became an assistant director of International Christian Leadership. Coe was trained and mentored by Jim Rayburn, Lorne Sanny, and Billy Graham.
Regarding his political influence, President George H.W. Bush praised him for his quiet diplomacy. In 1978, he worked with President Jimmy Carter to issue a worldwide call to prayer with Israeli Prime Minister Menachem Begin and Egyptian President Anwar Sadat. In 2001, Coe’s ‘The Fellowship’ helped arrange a private meeting at Cedars between two warring leaders, Democratic Republic of Congo President Joseph Kabila and Rwandan President Paul Kagame.
Coe is now a subject of Netflix original documentary series titled “The Family” which features him as the central figure of what it describes as “an enigmatic conservative Christian group”. The series is based on the book “The Family: The Secret Fundamentalism at the Heart of American Power” by Jeff Sharlet.
Regarding his personal life, he was married to Janice Coe. Together they had six children including Jonathan Coe, Timothy Stewart Coe, Pamela Kay Corder, and David Mark Evans Coe. They also had 21 grandchildren together. On February 21, 2017, Coe died in Maryland from complications of a heart attack at the age of 88.
Doug Coe Net Worth: $3 million
What does Net Worth Mean?
What is a Net Worth?
It is a quantitative concept which measures the value of an entity. It is applicable ranging from an individual to companies, organizations, sectors and a country as a whole. To put it simply, it is the difference between assets and liabilities. A positive net worth means assets are greater than liabilities, whereas negative net worth mean liabilities are greater than assets.
Net Worth = Assets – Liabilities
A little more into Net Worth Concept:
Net worth conveys the financial health of any entity. Asset is anything that is owned and has a monetary value to it while liabilities is a commitment that deplete resources. Assets can be liquid or which can turn into liquid ( example: bank check ). They are non-liquid when they take time to turn into cash (like for example Home). Whereas liability is an obligation that has to be repaid ( example: home loan, car loan etc.,)
Any financial institution or 3rd party look at your assets and liabilities to understand the financial position. Positive net worth or increasing asset base indicates good financial health while negative net worth or increasing liabilities means a bad financial health condition.
It is always a good habit for any entity to maintain a reduce liabilities and increase or maintain a balanced asset base.
What does a Net Worth Mean to a person?
In simple terms, it means the value that is left after subtracting liabilities from assets. Few Examples of liabilities include car loans, student loans, home loans, credit card bills, and other mortgages etc., whereas an individual’s assets are amount in the savings account, home, vehicle, bonds, stocks and other material that has value.
In other words, whatever is left after paying off all the personal debt from asset base is net worth. It is important to understand that value of net worth varies as per the market value of assets and current debt costs.
Consider a case of Ramu Johnson. His assets include a house valued at $350000, shares worth $150000 and a car worth $35000. His liabilities include a mortgage balance of
$150000 and an outstanding car loan $15000 to be paid.
Now Ramu Johnson’s Net Worth = ($350000+$150000+$35000) – ($150000+$15000)
= ($535000 ) – ($165000)
Assuming Ramu Johnson’s financial position after five years as follows –
House value at $350000, Shares value at $180000, savings $ 40000 and car value $25000. While mortgage loan $120000, car loan $0 (paid off).
The Net worth after 5 years would = ($350000+$180000+$ 40000 + $25000 ) – ($120000)
= $595000 – $120000
Here it is understood that, although the fact that the value of a house and car decrease, the net worth have increased to $475000. It is because a decline in house loan is less than the overall asset base and decrease in liabilities.
Note that, an individual’s net worth can be negative if his asset base is less than liabilities.
What does net worth mean for celebrities?
Most often celebrities fall under High Net worth Individuals. And what does HNWI mean?
People with considerable net worth as called as HNWI.
Independent Charted Accounts, wealth managers and investment counsellors stay close to them making them as prime markets.
As per Securities and Exchange Commission( SEC), investors more than 1Million are considered as accredited investors to invite them to invest in unrequested securities.
Is 401k part of net worth?
As per the definition, 401K is also a part of net worth if it is calculated in terms of assets and liabilities. But, in this case, 401K have no specifics as in, therefore it cannot be measured.
What is the average American net worth?
Like any entities net worth a countries net worth can be calculated as below. It is a sum of net worth of all individuals (citizens), companies and organizations reside in America, plus countries net worth. In America, this measure is referred to as financial position.
As on quarter 1 2014, America’s financial position =
Assets ( $269.6 trillion) – liabilities ($145.8 trillion ) = $123.8 trillion.
What is a good net worth by age?
|Age of Household||Median Net Worth|
|Under 35 years||$6,900|
|35 to 44 years||$45,740|
|45 to 54 years||$100,404|
|55 – 64 years||$164,498|
|65 – 69 years||$193,833|
|70 – 74 years||$225,390|
|65 – 75 Years||$202,950|
|75 + Years||$197,758|
What is the net worth of the top 1%, 5%, 10%?
As in America, wealth distribution is as follows
Richest 1% of the population owned 35% of the country’s total wealth
Richest 5% of the population owned 11% of the country’s total wealth
Richest 10% of the population owned 12% of the country’s total wealth