As one of the most talked-about figures, Joe Paterno has built a significant fortune. In this article, we dive deep into the assets and career highlights.

What Was Joe Paterno's Net Worth and Salary?

According to the Pennsylvania State Employee Retirement System, thanks to his 60 years of service to the University, Paterno was entitled to 100% of the average of his three highest salary years, which was equal to roughly $550,000 per year for the rest of his life. At the peak of his coaching career, Joe earned an annual salary of $568,000. During his career, he also earned millions from various endorsement deals.

In late 2011, Paterno was fired from his six-decade coaching job when he was implicated in the horrific Penn State child sexual abuse scandal. The scandal centered on his former defensive coordinator, Jerry Sandusky.

Child Sexual Abuse Scandal

Joe Paterno was an American college football coach who had a net worth of $10 million at the time of his death in 2012. Joe Paterno is best known for being the longtime football coach for the Penn State Nittany Lions. He was the head football coach from 1966 to 2011, during which time he recorded 409 wins, the most of any coach in the history of NCAA football. Paterno was fired in late 2011 in the aftermath of the Penn State child sexual abuse scandal.

Joseph Vincent Paterno was born on December 21, 1926, in Brooklyn, New York. He was the son of law clerk Angelo and homemaker Florence. As a youth, he went to Brooklyn Preparatory School, from which he graduated in 1944. Paterno was subsequently drafted into the US Army, where he spent a year before being discharged. He went on to enroll at Brown University. At Brown, Joe played with the Bears football team as a quarterback and then as a cornerback. He graduated in 1950 with a degree in English literature.

Joe's legacy was permanently tarnished by the horrific scandal, which eventually saw former coach Jerry Sandusky sentenced to 60 years; several university officials also served short sentences. What Joe knew and when continues to be the subject of debate. At the very least, it is factual that Paterno knew Sandusky was observed molesting a boy in a shower in the Penn State locker room in 2001. Joe was informed of the incident by an assistant coach. Following University protocol, Paterno informed his supervisor the next day. Police were never called, and Sandusky continued to have a key to school facilities and an office at the university for the following decade. Sandusky met his victims through a charity he founded called the "Second Mile," which served Pennsylvania's at-risk youth. Over a 15-year period between 1994 and 2009, Jerry molested boys he met through the charity. The boys were typically between 8 and 12 years old and did not have fathers. Joe Paterno died of lung cancer on January 22, 2012, at the age of 85, just 74 days after being fired.

Paterno planned to attend Boston University School of Law before he decided to become a football coach at Pennsylvania State University. In 1950, he became an assistant coach to Rip Engle; later, in 1964, he was promoted to associate coach. Two years after that, Joe became the head coach when Engle retired. He went on to lead the Penn State Nittany Lions to consecutive undefeated seasons in 1968 and 1969, with the team winning the Orange Bowl in both. Paterno had another undefeated season and Orange Bowl victory in 1973. Also during his tenure, the Nittany Lions won multiple Cotton, Fiesta, Citrus, Outback, and Alamo Bowls. The team also claimed the Liberty Bowl, Sugar Bowl, Aloha Bowl, Holiday Bowl, and Rose Bowl. Beyond his bowl wins, Joe led the Nittany Lions to two national championships in 1982 and 1986. Following Penn State's entry into the Big Ten Conference in 1993, Paterno led the Nittany Lions to three Big Ten championship titles. Overall, with his 409 wins during his tenure, Joe has the distinction of being the most victorious coach in NCAA football history.

Joe Paterno Salary History

In summary, the total wealth of Joe Paterno reflects strategic moves.

Disclaimer: All net worth figures are estimates based on public data.