How rich is Lloyd Blankfein?
Lloyd Blankfein Net Worth:
|Birth date:||September 15, 1954|
|Birth place:||The Bronx, New York City, New York, United States|
|Education:||Harvard Law School (1978), Harvard College (1975), Harvard University|
|Nationality:||United States of America|
|Spouse:||Laura Jacobs Blankfein (m. 1983)|
|Children:||Alex Blankfein, Rachel Blankfein, Jonathan Blankfein|
Lloyd Blankfein biography:
It’s been claimed that the complete amount of Lloyd Blankfein net worth has an approximation of 450 million dollars. Additionally, it is reported that he receives 55 million dollars as his yearly salary. Such amount of money raises the overall sum of Lloyd Blankfein net worth a lot. To people, he is largely known as a chairman of the business called “Goldman Sachs”. Along with being a chairman, he’s also called a CEO of the company.
Another source of his net worth is known to be “Donovan, Leisure, Newton and Irvin” company, where he works as a corporate tax attorney. However, his primary supply of his net worth is considered to be “Goldman Sachs”. In 1981, Lloyd Blankfein started to work in “J Aaron and Company”. In London, Lloyd Blankfein worked as a salesman of precious metals.
Moreover, his company “Goldman Sachs” can also be infamous in the public. The business was accused of hiding debts from Greece. Lloyd Blankfein was encouraged to speak for the Financial Crisis Inquiry Commission. He said that his company is regarded as a primary market maker, but not a merchandise maker. Also, he also stated the business of “Goldman Sachs” is not obliged to tell their clients and consumers that they are making stakes from the products made by the organization.
Moreover, Lloyd Blankfein is considered to be as the best earning executive on the whole Wall Street. Lloyd is receiving more than 27 million dollars in addition to his salary of 55 million dollars. Moreover, his stocks and his options additionally increase Lloyd Blankfein net worth a lot. In 2010, Lloyd Blankfein was reported to receive a compensation of more than 53 million dollars. In 2009, the businessman got two important titles for him.
The firm is also called a helping force of Democratic party, notably, it helped Barack Obama and Hilary Clinton. The business contributed into raising money for the campaign of Barack Obama which happened in 2008. Lloyd Blankfein is really proud what he does and in one interview he asserted that he is doing God’s work. Nonetheless, after this statement received a great deal of controversy, Lloyd Blankfein had to make a statement that he was just joking.
Lloyd Craig Blankfein (created September 20, 1954) is an American business executive. He could be the CEO and Chairman of Goldman Sachs. He assumed this position upon the May 2006 nomination of former CEO Henry Paulson to United States Secretary of the Treasury.
Before joining Goldman, Blankfein worked for Proskauer Rose and then Donovan, Leisure, Newton & Irvine. In 1981, he joined Goldman’s commodities trading arm, J. Aron & Co., as a precious metals salesman in its London office. He has served as Chairman and Chief Executive Officer of Goldman Sachs since 2006. He got a total of $54.4 million in 2006 as one of the highest paid executives on Wall Street. His bonus reflected the performance of Goldman Sachs, which reported record net earnings of $9.5 billion. The damages included a cash bonus of $27.3 million, with the remainder paid in stock and options. While CEO of Goldman Sachs Group in 2007, Blankfein got a total damages of $53,965,418, which included a base salary of $600,000, a cash bonus of $26,985,474, stocks allowed of $15,542,756 and options allowed of $10,453,031. In 2009, the Financial Times named Blankfein its “2009 Person of the Year”, saying, “His bank has stuck to its strengths, unashamedly taken advantage of the low interest rates and diminished competition caused by the disaster to make enormous trading profits.” Critics of Goldman Sachs and Wall Street have taken issue with those practices. Taking a different view, Forbes listed Blankfein as among “The Most Outrageous CEOs of 2009.” On January 13, 2010, Blankfein testified before the Financial Crisis Inquiry Commission which he considered Goldman Sachs’s function as mainly a market maker, not a creator of the product (i.e., subprime mortgage-related securities). He explained that Goldman Sachs had no moral or legal obligation to educate its clients it was betting against the products which they were buying from Goldman Sachs because it wasn’t acting in a fiduciary role. The company was sued on April 16, 2010, by the SEC for the deceptive selling of a synthetic CDO tied to subprime mortgages. With Blankfein in the helm, Goldman has additionally been criticized “by lawmakers and pundits for dilemmas from its pay practices to its part in helping Greece conceal the size of its debts”. In August of exactly the same year, Goldman supported that Blankfein had hired high profile defense lawyer Reid Weingarten, who had formerly represented executives including former WorldCom CEO Bernard Ebbers and former Enron accounting officer Richard Causey. Two months after, in November 2011, Blankfein was listed as #43 on Forbes Magazine’s List of The World’s Most Powerful People.