Lawrence Henry Summers is a US economist who served as the World Bank’s Chief Economist, a former vice president of development economics, a representative of the American Treasury Department under President Clinton, and a former director of the American Economic Council under President Obama. Prior to this, he served as the president of Harvard University and a professor at the Kennedy School of Government at Harvard.
Quick Facts
| Celebrated Name: | Larry Summers |
| Real Name/Full Name: | Lawrence Henry Summers |
| Gender: | Male |
| Age: | 69 years old |
| Birth Date: | November 30, 1954 |
| Birth Place: | New Haven, Connecticut, U.S. |
| Nationality: | American |
| Height: | 5 ft 9 inches |
| Weight: | 80 kg |
| Sexual Orientation: | Straight |
| Marital Status: | Married |
| Wife/Spouse (Name): | Victoria Perry (m. 1984–2003), Elisa New (m. 2005) |
| Children/Kids (Son and Daughter): | Yes (Ruth and Pamela and Harry from the first marriage) |
| Dating/Girlfriend (Name): | N/A |
| Profession: | American Academic economist |
| Salary: | NA |
| Net Worth in 2024: | $45 Million |
Larry Summers Biography
In the Connecticut city of New Haven, Larry Summers was born. He comes from a Jewish background. He is the son of economists Robert Summers and Anita Summers. Both of them have held academic positions at Pennsylvania University. Summers has two more nephews, Paul Samuelson (his father’s sibling) and Kenneth Arrow (a sibling of his mother). They are both economics Nobel laureates. In Pennsylvania’s Penn Valley, Summers grew up. 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, making him 69 years old as of 2024. He weighs 80 kilograms and stands 5 feet 9 inches tall.
Career
Summers started working at Harvard University in 1983 as an economics professor. He departed Harvard in 1991, and from that year until 1993, he served as the World Bank’s Chief Economist. He was chosen by the Clinton Administration to serve as the US Treasury Department’s Undersecretary for International Affairs in 1993.
Summers received a promotion to the position of Treasury Department’s Deputy Secretary in 1995. He was appointed Secretary of the Treasury in 1999. 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 companies like JPMorgan Chase, Goldman Sachs, Merrill Lynch, Lehman Brothers, and Citigroup, Summers spoke. He was the White House US National Economic Council’s Director from January 2009 to November 2010 while President Obama was in office.
Summers was recognized as one of the Clinton Administration’s major voices. During his tenure as Treasury Secretary, he oversaw President Clinton’s administration’s rejection of a Republican-proposed tax cut.
Larry Summers’s Net Worth
Larry Summers has accumulated a considerable sum of money as a result of his important contribution to the operation of government. As of February 2024, his estimated net worth is $45 Million.
Summers was proposed by President Clinton for the position of Treasury Secretary in 1999. Summers’ debts were valued at $500,000, and his assets were estimated to be worth $900,000. He was a member of President Obama’s cabinet in 2009, and he estimated his net worth to be between $16 and $38 million at the time. He amassed a substantial portion of his wealth by spending several years in senior positions in the government. He served as both the Chief Economist for the World Bank and President of Harvard University.
He served as the American Treasury Department’s Undersecretary for International Affairs during the Clinton administration in 1993. He was appointed Deputy Secretary of the Treasury Department in 1995, then in 1999, he was appointed Secretary. Between 2001 through 2006, Summers served as Harvard University’s twenty-seventh president. Later, he rose to the position of managing partner of “D.E. Shaw & Co.” Additionally, he has delivered addresses for companies like Citigroup, Goldman Sachs, Merrill Lynch, Lehman Brothers, and JPMorgan Chase. Summers directed the US National Economic Council from 2009 to 2010 when Barack Obama was president. An acknowledged academic economist, Larry Summers has held key government roles and was in charge of
Larry Summers Wife, Marriage
Larry Summers married Elisa New, a former English professor, in December 2005. He was previously wed to Victoria Joanne. Harry and their twin daughters Pamela and Ruth were the couple’s only children. He currently resides in Brookline, Massachusetts, with his family. He was diagnosed with Hodgkin’s lymphoma while pursuing his Ph.D. He received the required care and recovered from cancer.
