What is Jerome Powell Net Worth?

0

federal reserve chairman Jerome Powell is one of the richest people to have held office in decades.

When he was nominated for the role of President Trump in 2017, The Washington Post reported that Powell would be the richest Fed Chairman since the 1940s when Marriner Eccles served in that role.

At the time of his nomination, The Post estimated Powell’s net worth at between $19.7 million and $55 million based on his Financial Disclosure Documents.

WHO IS JEROME POWELL?

Based on his financial disclosure Documents from 2019 Powell’s net worth decreased slightly to between $17.7 million and $54.9 million.

Federal Reserve Chairman Jerome Powell testifies during a monetary policy report hearing before the Senate Banking Committee on February 12, 2020. (AP Photo/Susan Walsh)

According to The Post, Powell made his money at private equity firm The Carlyle Group. According to the Federal Reserve, he was a partner at Carlyle from 1997 to 2005 website.

FED CHAIRMAN POWELL CONDEMNS RACISM AT NATIONWIDE PROTESTS

Aside from being one of the wealthiest Fed Chairmen, Powell is, too initially without any formal economic training.

He earned his bachelor’s degree in politics from Princeton University and his law degree from Georgetown University, according to the Fed’s website.

GET FOX BUSINESS ON THE GO BY CLICK HERE

Under George HW Bush’s presidency, Powell was assistant secretary and undersecretary of the Treasury Department and worked on policy for financial institutions and the Treasury market, according to the Fed’s website.

Powell has been on the Fed’s board of governors since 2012, and took over as chairman in 2018. His term expires in 2022, but it is possible that he will be reappointed.

CLICK HERE TO READ MORE ABOUT FOX BUSINESS

Share.

About Author

Comments are closed.