Lawrence Summers net worth

Lawrence Summers net worth

Net Worth: $40 Million

About Lawrence Summers

Lawrence Summers net worth

It has been announced that the overall amount of Lawrence Summers net worth is as high as 40 million dollars and it is expected that his net worth will increase even more in the upcoming years. He has earned some part of his net worth because of his successful career as an economist. Currently, he is President Emeritus and Charles W. Eliot University Professor of Harvard University.
Lawrence Summers was born in 1954 in New Haven, Connecticut. In 1983, he was appointed to be the professor of economics at Harvard University. In 1991, he left this position, because he was offered a higher one, that being as the Chief Economist at the World Bank, where he served in the period of 1991-1993. His work there has also added up to the overall estimate of Lawrence Summers net worth.
In 1993, his name became even more known when he was appointed Undersecretary for International Affairs of the United States Department of the Treasury under the Clinton Administration. Two years later, he was promoted as he became Deputy Secretary of the Treasury under Robert Rubin. In 1999, he succeeded Robert Rubin when he became the Secretary of Treasury.

When Lawrence Summers was working for the Clinton administration, he played a vital role in the American response to many events, such as the 1994 economic crisis in Mexico, the Russian financial crisis, and the 1997 Asian financial crisis.
In the period of 2001-2006, when the Clinton administration was finished, Lawrence Summers served as the 27th President of Harvard University. His work there also increased the total size of Lawrence Summers net worth by a mile. After that, Lawrence Summers served as a managing partner at the hedge fund D. E. Shaw & Co. He was also appearing as a freelance speaker at various financial companies, such as Goldman Sachs, Citigroup, Lehman Brothers, JPMorgan Chase and Merrill Lynch.
Lawrence Summers started to work in the public service again during the Obama administration. In the period of 2009-2010, he served as the Director of the White House United States National Economic Council for President Barack Obama. He played a leading part in the Obama administration’s response to the Great Recession. Thus, his contribution to the Obama’s administration has also added up to the total sum of Lawrence Summers net worth. After that, Lawrence Summers continued to work in the private sector and contributed to various financial publications.
Giving some personal details about him, Lawrence Summers was raised in a Jewish household. Both of his parents were economists working at the University of Pennsylvania. When he was 16 years old, Lawrence Summers decided to study physics at the Massachusetts Institute of Technology, but his focus soon shifted to economics. He attended the National Debate Tournament three times. He earned his PhD from Harvard University in 1982. When he was 28 years old, he became a professor at Harvard and this made him the youngest professor in the history of this university. In 1987, Lawrence Summers was a visiting professor at the London School of Economics.

Now you have an idea why Lawrence Summers net worth is this huge


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