Janet Yellen Net Worth: Who is Janet Yellen?
Janet Yellen is a prominent economist who has broken many glass ceilings in her career.
is the first woman to serve as the U.S. treasury secretary, the first woman to chair the Federal Reserve, and the first person to have held both positions.
She is also a former chair of the Council of Economic Advisers and a professor emeritus at the University of California, Berkeley
But how much is she worth, and how did she earn her wealth? Here’s a look at Janet Yellen’s net worth and career.
Husband: George Akerlof
Janet Yellen is married to George Akerlof, a Nobel Prize-winning economist and professor emeritus at the University of California, Berkeley.
They met in 1977 when they were both working as economists at the Federal Reserve Board in Washington, D.C.
married in 1978 and have one son, Robert Akerlof, who is also an economist and teaches at the University of Warwick in England1.
Caption: Janet Yellen and George Akerlof (source: Wikimedia Commons)
Yellen and Akerlof have collaborated on several academic papers, including one on the causes and consequences of out-of-wedlock births.
Both share similar views on economics and are both advocates of Keynesian policies that favor government intervention to stabilize the economy.
Children: Robert Akerlof
Janet Yellen has one child, Robert Akerlof, who was born in 1981.
Followed his parent’s footsteps and became an economist.
Earned his bachelor’s degree from Yale University in 2003 and his Ph.D. from Harvard University in 2010.
He is currently an associate professor of economics at the University of Warwick in England.
Caption: Robert Akerlof (source: University of Warwick)
Robert Akerlof has published several papers on topics such as social norms, identity, and leadership
He has also co-authored a book with his father, George Akerlof, titled Phishing for Phools: The Economics of Manipulation and Deception, which explores how markets exploit human weaknesses.
Nationality: American
Janet Yellen was born on August 13, 1946, in Brooklyn, New York City.
She is an American citizen by birth.
Her parents were Anna Ruth (née Blumenthal) and Julius Yellen, who were both Jewish immigrants from Poland.
Her father was a family doctor who had a small practice in their home, while her mother was a homemaker who also helped with the business.
Caption: Janet Yellen’s childhood home in Brooklyn (source: Wikimedia Commons)
Yellen grew up in Bay Ridge, a middle-class neighborhood in Brooklyn. She attended Fort Hamilton High School, where she excelled academically and was editor-in-chief of the school newspaper.
She graduated as valedictorian of her class in 19634.
Net Worth and Salary: $20 Million
According to Forbes, Janet Yellen has an estimated net worth of $20 million as of June 2021.
She earned most of her wealth from her long career in academia and government, as well as from her lucrative speaking engagements after leaving the Federal Reserve.
Yellen’s salary as the treasury secretary is $221,400 per year, which is slightly lower than her salary as the Fed chair, which was $201,700 per year.
However, she also receives a pension from the Federal Reserve System, which was worth $1.9 million as of 2018.
Yellen’s biggest source of income in recent years has been her speeches to various corporations, banks, universities, and other organizations.
According to her financial disclosure, she earned more than $7 million from speaking fees between October 2018 and October 2020.
Some of her clients included Citigroup, Goldman Sachs, Google, Salesforce, Barclays, Credit Suisse, UBS, and Standard Chartered.
Yellen also has substantial investments in mutual funds, bonds, annuities, and real estate.
According to her disclosure, she owns between $4 million and $13 million worth of mutual funds, between $1 million and $5 million worth of bonds, between $500k and $1 million worth of annuities, and between $100k and $250k worth of real estate.
Wikipedia: Janet Yellen
Janet Yellen has a Wikipedia page that provides detailed information about her life and career.
page was created on February 18, 1997, and has been edited more than 5,000 times by over 2,000 users.
The page has been viewed more than 3.6 million times in the past year, with a peak of over 300k views on January 26, 2021, the day she was confirmed as the treasury secretary.
Caption: Janet Yellen’s Wikipedia page (source: Wikipedia)
The page covers Yellen’s education, academic career, government service, awards and honors, personal life, publications, and references.
It also has sections on her views on monetary policy, fiscal policy, financial regulation, income inequality, and climate change.
Is well-sourced and updated regularly.
Parents: Anna Ruth and Julius Yellen
Janet Yellen’s parents were Anna Ruth (née Blumenthal) and Julius Yellen, who were both Jewish immigrants from Poland.
They came to the United States in the early 20th century and settled in Brooklyn.
Had two children, Janet and John.
Caption: Janet Yellen’s parents (source: Wikimedia Commons)
Yellen’s father was a family doctor who had a small practice in their home.
He died of a heart attack in 1975 at the age of 66. Yellen’s mother was a homemaker who also helped with the business.
She died of cancer in 1986 at the age of 71.
Conclusion
Janet Yellen is a respected economist who has achieved many milestones in her career.
She is the first woman to serve as the U.S. treasury secretary, the first woman to chair the Federal Reserve, and the first person to have held both positions.
Yellen is also a former chair of the Council of Economic Advisers and a professor emeritus at the University of California, Berkeley.
has an estimated net worth of $20 million as of June 2021.
If you found this article impressive follow for more on our blog as sampled below:
