Lawrence Henry Summers is a former director of the American Economic Council under President Obama as well as the former chief economist of the World Bank and vice president of development economics.
Summers also represented the US Treasury Department under President Clinton. He formerly held the positions of president of Harvard University and professor at Harvard’s Kennedy School of Government.
What is the Net Worth of Larry Summers? Salary, Earnings
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Due to Larry Summers’ significant contribution to the functioning of government, he has amassed a large amount of wealth. His estimated net worth was $45 Million as of July 2023. Summers was a candidate for Treasury Secretary in 1999, according to President Clinton. Summers’ assets were judged to be worth $900,000, while his debts were evaluated at $500,000.
He estimated his net worth to be between $16 and $38 million when he served in President Obama’s cabinet in 2009. Larry Summers spent several years in top positions in the administration, which helped him accumulate a substantial chunk of his riches. He held the dual positions of President of Harvard University and Chief Economist for the World Bank.
In 1993, under the Clinton administration, he worked as the Undersecretary for International Affairs of the American Treasury Department. In 1995, he was named Deputy Secretary of the Treasury, and in 1999, he was made Secretary. Summers was the twenty-seventh president of Harvard University from 2001 until 2006.
Later, he progressed to become “D.E. Shaw & Co.”‘s managing partner. He has also delivered mail for organizations including Citigroup, Goldman Sachs, Merrill Lynch, Lehman Brothers, and JPMorgan Chase. From 2009 to 2010, while Barack Obama was in office, Summers served as the US National Economic Council’s director.
Where was Larry Summers born? Ethnicity, Nationality, Family, Education
Larry Summers was born in New Haven, Connecticut. He is Jewish in his heritage. He is the son of Anita and Robert Summers, both economists. They both previously worked as professors at Pennsylvania University. Paul Samuelson, a brother of Summers’ father, and Kenneth Arrow, a sister of Summers’ mother, are two further nephews that Summers has.
They are both Nobel laureates in economics. Summers was raised in the Penn Valley of Pennsylvania. He proceeded to study at Harriton High School. He received a Ph.D. from the Massachusetts Institute of Technology in 1982.
Quick Facts
| Celebrated Name: | Larry Summers |
| Real Name/Full Name: | Lawrence Henry Summers |
| Gender: | Male |
| Age: | 68 years old |
| Birth Date: | November 30, 1954 |
| Birth Place: | New Haven, Connecticut, U.S. |
| Nationality: | American |
| Height: | 5 ft 9 inches |
| Weight: | 80 kg |
| Sexual Orientation: | Straight |
| Marital Status: | Married |
| Wife/Spouse (Name): | Victoria Perry (m. 1984–2003), Elisa New (m. 2005) |
| Children/Kids (Son and Daughter): | Yes (Ruth and Pamela and Harry from the first marriage) |
| Dating/Girlfriend (Name): | N/A |
| Profession: | American Academic economist |
| Salary: | NA |
| Net Worth in 2023: | $45 Million |
Is Larry Summers Single? Relationship
Elisa New, a former English professor, and Larry Summers wed in December 2005. Previously, he was married to Victoria Joanne. The couple’s only children were Harry and their identical twin daughters Pamela and Ruth. He and his family are presently residing in Brookline, Massachusetts. While obtaining his Ph.D., he received a Hodgkin’s lymphoma diagnosis. He received the necessary treatment and beat the cancer.
How tall is Larry Summers? Weight, Hair Color
Larry Summers was born on November 30, 1954, and as of 2023, he will be 68 years old. He is 5 feet 9 inches tall and weighs 80 kilograms.
How did Larry Summers start his Professional Career?
Summers began her career in 1983 as an economics professor at Harvard University. After leaving Harvard, he worked as the World Bank’s chief economist from 1991 to 1993. In 1993, the Clinton Administration appointed him as the Undersecretary for International Affairs of the US Treasury Department.
Summers was given a promotion to the position of Deputy Secretary for the Treasury Department. In 1999, he was chosen to be the Treasury Secretary. During the Asian financial crisis of 1997, the Russian financial crisis, and the Mexican economic crisis of 1994, he significantly contributed.
Summers gave speeches at financial institutions such as JPMorgan Chase, Goldman Sachs, Merrill Lynch, Lehman Brothers, and Citigroup. During President Obama’s administration, he served as the director of the White House US National Economic Council from January 2009 to November 2010.
One of the leading voices of the Clinton Administration was acknowledged to be Summers. He handled the President Clinton administration’s decision to reject a Republican tax cut during his time as Treasury Secretary.
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