Introduction
American economist Janet Louise Yellen was born on August 13, 1946. The position of US Treasury’s 78th secretary was granted to her on January 26, 2021. Also, she spent around four years working for the Democratic Party as the 15th Chair of the Federal Reserve. She is a strong role model and the owner of several firsts. The aforementioned positions have never before been held by a woman. She is the first woman to have led the Treasury Department, Federal Reserve, and Council of Economic Advisers at the White House in addition to the aforementioned positions. Let us know ‘Janet Yellen Net Worth’.
The woman was raised and born in Brooklyn. She completed her undergrad degree from Brown University and her PhD from Yale University. Her education was completed in the year 1971. She majored in economics. Then, at Harvard University, she worked as an assistant professor. Later, the Federal Reserve Board appointed her as an economist.
She collaborated with her spouse, Akerlof at the University of California. After a while, she travelled to Washington, but she soon came back. She oversaw the San Francisco Federal Reserve from 2004 until 2010. In 2010, when the economy was still reeling from the Great Recession, she was named vice chair of the Federal Reserve. In 2014, she worked as the chair of the Federal Reserve.
Janet Yellen Net Worth
Former Federal Reserve chair Janet Yellen is now the Treasury Secretary of the United States. She served in both positions and made history by being the first woman to be appointed in the positions. Along with the aforementioned positions, she worked at the Federal Reserve under amazing bureaucrats like Barack Obama and Bill Clinton. She worked at the Federal Reserve starting from 2014 to 2018. She has lectured at famous institutions like Harvard all around the world. The net worth, according to reports, is estimated at around $20 million in 2022.
Sources Of Income
Spokesperson Earnings: Following a Federal filing made public in December 2020, Janet made $7 million from about 50 speaking engagements between 2018 and 2020. According to a financial disclosure form she provided to federal ethics regulators, Yellen earned roughly $5 million in 2019 from speaking engagements. In 2020, there was an additional $2.2 million added to the pot. Yellen received over $1 million from Citibank. A Chicago-based hedge firm named Citadel invested more than $800,000. Yellen received at least $300,000 from Credit Suisse, City National Bank, and Standard Chartered Bank, respectively.
Salary: The pay of the Treasury secretary is $221,400 per year by January 2021.
Real Estate: In 2019, Yellen and Akerlof acquired up to $2.1 million in property in Washington, D.C. without taking a mortgage. Additionally, the Berkeley home they bought in 1979 is still theirs. Currently, it is thought to be worth $2.2 million.
Liquid Assets: Yellen and Akerlof had hundreds of thousands of dollars invested in bond funds, millions more in an index fund that follows the S&P 500, and at least $1.1 million in cash accounts. Additionally, they owned a few moderately sized shares in well-known corporations like DuPont, Phillips 66, Norfolk Southern, Raytheon, and Pfizer, normally costing less than $100,000. In February, Yellen divested those.
Conclusion
Award-winning economist Janet Louise Yellen made history by becoming the first woman to lead the Federal Reserve. She held the position of US Treasure’s 78th secretary on January 26, 2021. She has delivered lectures at prestigious universities all around the world, including Harvard. She is considered a prominent economist in the US. In short, the devoted public servant is a former professor, public speaker, and economist.
The treasury secretary has multimillion-dollar houses in Berkeley, California, and Washington, D.C., but the majority of her wealth is concentrated in liquid investments like diversified mutual funds. According to reports of 2022, she is around $20 million worth.
Frequently Asked Questions
Janet likes to collect stamps, how much are they worth?
Janet has a strange interest in stamps. Her collection is about $15000 worth. It is a kind of investment she does in stamps.
What does a Treasury Secretary do?
The Secretary of the Treasury is in charge of developing and recommending national and international financial, economic, and tax policies along with managing the public debt. Also, she takes part in the creation of broad fiscal policies that have an overall impact on the economy.
Who made Janet Yellen the Fed’s new chairwoman?
Joe Biden, the president of the United States, declared in 2020 that he would recommend Janet Yellen for the position of secretary of the Treasury. By a vote of 84 to 15 in January 2021, the Senate approved her nomination.
Who is Janet Yellen’s husband? What is he doing?
The idea of asymmetric information is Akerlof’s most well-known contribution to economics. He earned the Nobel Prize in Economic Sciences in 2001.
