Lawrence Henry Summers is an American economist who was the chief economist of the World Bank, former vice president for development economics, representative of the US Department of the Treasury under President Clinton and former director of the American Economic Council under President Obama. Prior to that, he was president of Harvard University and a professor at Harvard’s Kennedy School of Government.
|Real name/Full name:
|Lawrence Henry Summers
|68 years old
|Date of birth:
|November 30, 1954
|New Haven, Connecticut, USA
|5 feet 9 inches
|Victoria Perry (m. 1984 – 2003), Elisa New (m. 2005)
|Children/children (son and daughter):
|Yes (Ruth and Pamela and Harry from first marriage)
|American academic economist
|Net worth in 2023:
|45 million dollars
Biography of Larry Summers
Larry Summers was born in New Haven, Connecticut. He comes from Jewish origins. He is the son of economist Robert Summers and Anita Summers. Both held academic positions at the University of Pennsylvania. Summers has two other nephews, Paul Samuelson (father’s brother) and Kenneth Arrow (his mother’s brother). Both are winners of the Nobel Prize in Economics. Summers grew up in Penn Valley, Pennsylvania. He went to Harriton High School to study. The Massachusetts Institute of Technology awarded him a degree (Ph.D., 1982).
Larry Summers Age, Height and Weight
Larry Summers was born on November 30, 1954, which makes him 68 years old as of 2023. He weighs 80 kilograms and is 5 feet 9 inches tall.
In 1983, Summers began working at Harvard University as a professor of economics. He left Harvard in 1991, and from that year to 1993 he worked as the chief economist of the World Bank. In 1993, he was chosen by the Clinton administration to be the undersecretary for international affairs of the US Treasury Department.
In 1995, Summers was promoted to the position of Deputy Minister of Finance. In 1999, he was appointed Minister of Finance. He made a significant contribution during the Mexican economic crisis of 1994, the Russian financial crisis and the Asian financial crisis of 1997.
At financial firms such as JPMorgan Chase, Goldman Sachs, Merrill Lynch, Lehman Brothers and Citigroup, Summers has spoken. He was the director of the US National Economic Council of the White House from January 2009 to November 2010 while President Obama was in office.
Summers was recognized as one of the main voices of the Clinton administration. During his tenure as Treasury Secretary, he oversaw the rejection of the Republican tax cuts by President Clinton’s administration.
Larry Summers Net Worth
Larry Summers has raised a significant amount of money as a result of his important contributions to government work. As of August 2023, his estimated net worth was $45 million.
President Clinton nominated Summers for Secretary of the Treasury in 1999. Summers’ debts were estimated at $500,000 and his assets were estimated at $900,000. He was a member of President Obama’s cabinet in 2009, and estimated his net worth to be between $16 million and $38 million at the time. He acquired a significant part of his wealth by spending several years in high positions in the government. He was also the chief economist of the World Bank and the president of Harvard University.
He served as Under Secretary for International Affairs of the US Treasury Department during the Clinton administration in 1993. He was appointed Deputy Secretary of the Treasury Department in 1995, and was then appointed Secretary in 1999. Between 2001 and 2006, Summers was the twenty-seventh president of Harvard University. He later rose to the position of general partner of the company “DE Shaw & Co.” In addition, he provided addresses for companies such as Citigroup, Goldman Sachs, Merrill Lynch, Lehman Brothers and JPMorgan Chase. Summers managed the US National Economic Council from 2009 to 2010 when Barack Obama was president. A renowned academic economist, Larry Summers has held key government roles and was in charge of
Wife of Larry Summers, Marriage
Larry Summers married Elisa New, a former English teacher, in December 2005. Before that, he was married to Victoria Joanne. Harry and their twin daughters Pamela and Ruth were the couple’s only children. He currently lives in Brookline, Massachusetts with his family. He was diagnosed with Hodgkin’s lymphoma while working on his Ph.D. He received the necessary care and recovered from cancer.