Larry Summers Net Worth: The Wealth Of Hedge Fund Manager And Harvard Professor

Larry Summers Net Worth Quick Facts

Category Information
Net Worth $40 Million
Birthdate Nov 30, 1954 (69 years old)
Birthplace New Haven
Gender Male
Profession Scientist, Politician, Economist, Professor
Nationality United States of America
Larry Summers Net Worth.
Larry Summers Net Worth.

Larry Summer Net Worth

Larry Summers, an American economist, boasts a net worth of $40 million.

Lawrence Summers served as the US secretary of the treasury from 1999 to 2001 and as director of the National Economic Council from 2009 to 2010.

He held various positions in the Clinton administration and later served as the president of Harvard University from 2001 to 2006.

Afterward, Summers engaged in work at several financial institutions and began writing columns for major newspapers, including the Washington Post.

Larry Summers Early Life and Education

Lawrence Summers, born on November 30, 1954, in New Haven, Connecticut, to Jewish parents Anita and Robert, both economists and professors at the University of Pennsylvania.

He was raised in the Philadelphia suburb of Penn Valley and attended Harriton High School.

At the age of 16, Summers enrolled at MIT, graduating in 1975 with a degree in economics.

Subsequently, he pursued graduate studies at Harvard University, earning his PhD in 1982.

Career Beginnings in Academia

Summers embarked on his career in academia, teaching at Harvard, his alma mater, in 1983.

At the age of 28, he became one of the youngest tenured professors in the school’s history.

As an academic economist, Summers specializes in areas such as public finance, labor economics, and macroeconomics.

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Chief Economist of the World Bank

In 1991, Summers left Harvard to become the Chief Economist of the World Bank.

During his two years in that role, he played a crucial role in devising strategies to assist developing nations.

Summers also led the Bank’s research operations and guided external training programs.

Clinton Administration

After departing the World Bank in 1993, Summers was appointed Under Secretary for International Affairs in the Clinton administration.

He later served as Deputy Secretary of the Treasury and then as Secretary of the Treasury from 1999 to 2001.

During his tenure, he played a pivotal role in the American response to financial crises in Mexico, Asia, and Russia.

Harvard President

Summers assumed the presidency of Harvard University in 2001.

But attracted controversy during his tenure for various incidents, including controversial comments and questions regarding financial conflict of interest.

Following a faculty no-confidence vote, he resigned in 2006.

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Larry Summers Net Worth: Financial Sector Work

After leaving Harvard, Summers engaged in financial sector work, serving as a part-time managing director of the hedge fund D. E. Shaw & Co.

And undertaking speaking engagements at various financial institutions.

Obama Administration

In 2009, Summers was appointed director of the National Economic Council by President Obama, where he played a key role in economic decision-making during the Great Recession.

Larry Summers Net Worth: Board Appointments

Summers took on several board appointments after leaving the Obama administration, including roles at Square, Lending Club, and Premise Data.

Personal Life

Summers was married to Victoria Perry from 1984 to 2003 and later wed professor Elisa New.

He has children from both marriages and resides in Brookline, Massachusetts.

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