Janet Yellen Net Worth: How Rich Is the US Treasury Secretary?

Democrat Former Federal Reserve Chair Janet Yellen is now the United States Secretary of the Treasury. She holds both positions for the first time in history. The dedicated official is a former professor, public speaker and economist. Janet Yellen’s net worth was $20 million as of 2022.

The Early Life of Janet Yellen

On August 13, 1946, Janet-Louise Yellen was born. Her family is of Polish Jewish descent, and she grew up in Bay Ridge, New York City, with her brother, John. Her father, Julius, was a doctor and her mother, Anna, was a teacher.

She excelled academically and joined numerous clubs at Fort Hamilton High School, where she graduated as valedictorian. She attended Pembroke College at Brown University.

Young Janet initially studied philosophy, but later changed her major to economics, which was a wise choice. She attended Yale University after graduating summa cum laude to complete her master’s degree, and in 1971 received her Ph.D. from the same university.

How Janet Yellen started her career?

Yellen began her career in 1971 as an assistant professor of economics at Harvard University. After leaving for about six years to join the Federal Reserve Board of Governors, she was later appointed as a lecturer at the London School of Economics.

She was employed by the Haas School of Business at the University of California, Berkeley in 1980. Janet was an award-winning economist and professor during her academic career.

Her research has mainly focused on monetary policy, labor markets and global trade. Her contributions to efficient wage models and reproductive technology shocks are particularly noteworthy.

Government work

Janet took a leave of absence from Berkeley in 1994 and was subsequently selected to serve on the Federal Reserve Board of Governors. In 1997 she resigned to take over the helm of the Council of Economic Advisers. Also read Nick Cannon net worth.

In 1999, the professor returned to the classroom, but in 2004 she again joined the Federal Reserve. In 2014, she was selected as the 15th Chair of the Federal Reserve. In 2018, she resigned from the Fed to join the Brookings Institution.

President Joe Biden supported Janet Yellen for the position of U.S. Treasury Secretary in 2020. The following year, the Senate gave her approval. One of her most notable actions in the most recent post is to call for cryptocurrency regulation. Cryptocurrency, in her opinion, is “extremely dangerous” and inappropriate for most retirement savings.

Janet Yellen’s income and net worth

As of January 2021, the US Secretary of the Treasury must earn a minimum salary of $221,400. However, Yellen earns more money on her government salary because she is a well-known economist. Most of her fortune comes from speaking engagements. She earned $7.26 million speaking in 2019 and 2020.

During that time she gave more than 50 presentations to organizations such as Goldman Sachs, Barclays, Citadel and Citigroup. She also earned a respectable salary as a professor at elite universities. She currently has $20 million in assets.

Personal life of Janet Yellen

George Akerlof, a fellow economist, is Janet Yellen’s wife. He is also a distinguished professor of economics. The talented couple got married in 1978 and had a son named Robert.

Last lines

Renowned American economist Janet Yellen made history by becoming the first woman to head the Federal Reserve and the first woman to serve as Secretary of the Treasury. Her achievements culminate in a long career with the Federal Reserve.

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