circa 1980:  Portrait of Jimmy Carter, the thirty-ninth President of the United States, who served from 1977 to 1981. Carter oversaw the Panama Treaty and the Camp David Agreement between Israel and Egypt in 1979. His administration also was faced with the Iranian hostage crisis, failing in negotiations to release the 52 American hostages.  (Photo by Hulton Archive/Getty Images)
The Tragic End To President Jimmy Carter's Family Peanut Business
By Arianna Endicott
President Jimmy Carter took over his parents' peanut farm in 1953 after his father died. Though his initial plan was to manage it just as his father had — buying and reselling seed — he decided to try his hand at actually growing the peanut seeds, and was able to expand the business and increase profits.
By the time Carter began his bid for the presidency, Carter Farms had between 2,000-3,000 acres of farmland, which he controlled 91% of. His brother, Billy Carter, managed daily operations at Carter Warehouse — a peanut warehousing business — but when Jimmy Carter became president, his farm was placed into a blind trust.
Changes in management combined with three consecutive drought years plunged the farm into financial trouble, and by the time Jimmy returned, he was over a million dollars in debt. The family tried to recover from the debt, but they couldn't continue maintaining the farm, and eventually, made the difficult decision to sell it.