Lifestyles of the greatest

[Tyruscobb]

Originally Posted by oldjudge

The highest salary Wagner ever had was $10,000. That was roughly 25x the average US salary. That probably means that he could live well, but not be in the mansion class. Imagine how one would live today if their salary was 25x the national average.

The purchasing power of $10,000.00 in 1908 is equivalent to approximately $286,000.00 today. Accordingly, I’m sure Wagner lived very well, but nowhere near today’s superstars.

[Mark17]

Originally Posted by Tyruscobb

The purchasing power of $10,000.00 in 1908 is equivalent to approximately $286,000.00 today. Accordingly, I’m sure Wagner lived very well, but nowhere near today’s superstars.

Don't forget, his playing days ended and his salary as a coach after that was considerably less. It's not like a businessman or investor who could sustain a high income throughout life.

[Casey2296]

Originally Posted by Mark17

Don't forget, his playing days ended and his salary as a coach after that was considerably less. It's not like a businessman or investor who could sustain a high income throughout life.

Ty Cobb took his baseball salary, invested in Real Estate, shares of Coca-Cola and GM. Started a hospital with a $100,000 donation which grew into a medical network and set up a scholarship fund so kids could go to college, both of which survive to this day. Not only one of baseballs greatest he was also an astute businessman, investor, and philanthropic superstar.

[packs]

I always feel like this exercise is looked at the wrong way. Wagner made $10,000 in 1908 at a time when you could live on less than a dollar a day. You might say his salary doesn't equate to 30 million dollars a year but he was living pretty comfortably.

[JustinD]

Some had more than most, but it was advertising dollars. Remember that well into the 70's most professionals had offseason jobs to supplement the income.

In Detroit we have many of the older homes of the players still standing due to the economy not making it as profitable to tear down during the heydays of 60's and 70's to destroy and rebuild. Most are in the Boston-Edison Neighborhoods.

Here is Cobb's home currently...not out of place in the neighborhood for that time.

[JustinD]

Here is Frank Navin's home for sale a few years back. He was the owner during Cobb's general tenure -

https://detroit.curbed.com/2017/3/27...navin-for-sale

[nat]

That Navin house is listed at $395k? Man, Detroit is _cheap_.

Anyway, star players always made good money. Not like today, obviously, but they were never hurting. Cap Anson made $3k in 1885. There are all sorts of problems with inflation calculators (mostly that prices don't inflate at the same rate), but that's in the $85k range today. So even the in early days star players were basically middle class.