How rich is Lloyd Blankfein?
Lloyd Blankfein Net Worth:
Lloyd Blankfein Net Worth:
Lloyd Blankfein Net Worth $450 Million
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 place upon the May 2006 nomination of former CEO Henry Paulson to United States Secretary of the Treasury.
He’s served as Chairman and Chief Executive Officer of Goldman Sachs since 2006. His bonus represented the performance of Goldman Sachs, which reported record net earnings of $9.5 billion. The settlement comprised a cash bonus of $27.3 million, with the remainder paid in stock and options. While CEO of Goldman Sachs Group in 2007, Blankfein brought in a total settlement of $53,965,418, which contained 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 rates of interest and diminished competition caused by the disaster to make large trading gains.” Critics of Goldman Sachs and Wall Street have taken issue with those practices. Taking another perspective, Forbes recorded Blankfein as among “The Most Crazy CEOs of 2009.” On January 13, 2010, Blankfein testified before the Financial Crisis Inquiry Commission he considered Goldman Sachs’s function as mainly a market maker, not a creator of the merchandise (i.e., subprime mortgage-related securities). He explained that Goldman Sachs had no moral or legal duty to notify its customers it was wagering against the products which they were purchasing from Goldman Sachs because it had not been acting in a fiduciary function. The organization 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 problems from its pay practices to its part in helping Greece hide the size of its own debts”. In August of the exact same year, Goldman verified that Blankfein had hired high profile defense lawyer Reid Weingarten, who’d formerly represented executives including former WorldCom CEO Bernard Ebbers and former Enron accounting officer Richard Causey. Two months after, in November 2011, Blankfein was recorded as #43 on Forbes Magazine’s List of The Planet ‘s Most Powerful People.
|Birth date:||September 15, 1954 age 60|
|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|