Janet Yellen Net Worth

Janet Yellen Net Worth Quick Facts

Category Information
Net Worth $16 Million
Birthdate Aug 13, 1946 (77 years old)
Birthplace Brooklyn
Gender Female
Profession Economist, Professor
Nationality United States of America

 

Janet Yellen Net Worth
Janet Yellen Net Worth

What is Janet Yellen’s Net Worth and Salary?

Janet Yellen, an American economist, served as Chair of the Federal Reserve System from 2014 to 2018.

She has a net worth of $16 million.

In November 2020, Joe Biden announced her appointment as Treasury Secretary under his administration.

According to a financial filing released ahead of her term, Janet and her husband, Nobel Prize-winning economist George Akerlof, control assets between $8 and $20 million.

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Previous Roles

Before her tenure as Chair of the Federal Reserve, Janet Yellen held various positions, including Vice Chair and member of the Federal Reserve Board of Governors.

She also chaired the Council of Economic Advisers from 1997 to 1999 under President Clinton.

Speaking Engagement Earnings

A Federal filing in December 2020 revealed that Janet earned $7 million from roughly 50 speaking engagements between 2018 and 2020.

The filing also indicated her plans to divest from stock shares in major corporations such as Pfizer, Conoco Phillips, and AT&T.

Janet Yellen Net Worth And Early Life

Janet Yellen was born on August 13, 1946, in Brooklyn, New York City.

Raised by Anna, an elementary school teacher, and Julius, a physician.

Graduated as valedictorian from Fort Hamilton High School.

Earned a BA in economics summa cum laude from Brown University in 1967.

Obtained an MA and PhD in economics from Yale University in 1971.

Janet Yellen Net Worth: Career Beginnings in Academia

Became an assistant professor of economics at Harvard University.

Joined the Federal Reserve Board of Governors as an economist.

Joined the faculty at the Haas School of Business at UC Berkeley in 1980.

Became a full professor in 1985.

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Federal Reserve and Council of Economic Advisers

Appointed as a member of the Federal Reserve Board of Governors by President Clinton in 1994.

Later chaired the Council of Economic Advisers.

Oversaw a milestone report on income disparity between men and women.

Returned to teaching at Berkeley in 1999.

Return to Federal Reserve

Became the first woman to be president of the Federal Reserve Bank of San Francisco in 2004.

Transitioned to vice chair of the Federal Reserve Board of Governors in 2010.

Nominated to succeed Ben Bernanke as chair of the Federal Reserve in 2013.

First woman to lead a central bank in the United States since Paul Volcker.

Federal Reserve increased its key interest rate during her tenure.

Imposed sanctions on Wells Fargo before leaving office in 2018.

Unemployment rate dropped significantly from 6.7% to 4.1% under her leadership.

Post-Federal Reserve

Upon leaving the Federal Reserve, Yellen joined the Brookings Institution research group as a distinguished fellow.

Between 2018 and 2020, she earned over $7 million in speaking fees from financial companies including Goldman Sachs and Citigroup.

Janet Yellen Net Worth: Secretary of the Treasury

In November 2020, President-elect Biden announced Yellen’s nomination as United States secretary of the treasury.

She was unanimously approved by the Senate Finance Committee in January 2021, becoming the first woman to hold this position and the first person to lead the Treasury, the Federal Reserve, and the Council of Economic Advisers.

Economic Philosophy

Yellen’s economic philosophy prioritizes addressing unemployment and advocates for lower Federal Reserve interest rates.

She supports raising taxes, cutting retirement spending, and eliminating the debt ceiling to prevent government default.

Yellen also backs stricter financial regulations.

Honors

Yellen has received numerous honors recognizing her contributions to academia and politics.

She holds honorary degrees from institutions like Bard College, New York University, and the University of Pennsylvania.

Yellen has been affiliated with esteemed organizations such as the National Bureau of Economic Research and the American Academy of Arts and Sciences.

Her accolades include the Wilbur Cross Medal from Yale University and the President’s Medal from Brown University.

Janet Yellen Personal Life

Yellen married economist George Akerlof in 1978, and they have a son named Robert.

The couple has collaborated on research projects, particularly focused on poverty and unemployment.

Yellen is also a philatelist, with a postage stamp collection estimated to be worth between $15,000 and $50,000.

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