When Menzies returned as prime minister in 1949, Fadden became Treasurer for a second time, holding office until his retirement from politics in 1958. Only Peter Costello has served in the position for longer. Fadden enjoyed one of the most rapid rises in Australian political history, moving from private citizen to the prime ministership in just 11 years. He was the first prime minister born in Queensland, and the first and only member of the Country Party to become prime minister with his own mandate (rather than just serving as a caretaker after the death of a predecessor).