Janet Yellen Net Worth 2023
Janet Yellen is estimated to have a net worth of $25 million dollars as of 2023. She has accumulated her net worth with her versatility in each field she has worked in. Her primary source of income is her career as an economist serving as the 78th United States secretary of the treasury since January 26, 2021. As she progresses in her career, her net worth is projected to rise.
Janet Yellen Salary 2023
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Janet Yellen’s salary is $900,000 every year and she gets a monthly salary of $250,000, she is an American economist serving as the 78th United States secretary of the treasury since January 26, 2021.
Janet Yellen Bio
Janet Louise Yellen is a renowned American economist who has made significant contributions to the field of economics throughout her career. Born in Bay Ridge, Brooklyn, on August 13, 1946, Yellen went on to graduate from Brown University in 1967 before earning her Ph.D. in economics from Yale University in 1971.
Yellen has a distinguished academic career and has taught economics at several prestigious universities, including Harvard and the University of California, Berkeley. She also served as a staff economist for the Federal Reserve Board from 1977 to 1978 and was a member of the Federal Reserve Board of Governors from 1994 to 1997, where she was nominated by President Bill Clinton.
In addition to her academic career, Yellen has held various important public service positions. She served as the chair of the Council of Economic Advisers under President Clinton from 1997 to 1999, and in 2004, she was appointed as the president and chief executive officer of the Federal Reserve Bank of San Francisco. President Barack Obama later appointed her as vice chair of the Federal Reserve in 2010 and then as the chair of the Federal Reserve from 2014 to 2018, making her the first woman to hold either position.
Despite her impressive achievements, Yellen’s tenure as the chair of the Federal Reserve was cut short due to political changes. President Donald Trump refused to renominate her for a second term, and she was succeeded by Jerome Powell. Following her resignation, Yellen joined the Brookings Institution as a distinguished fellow in residence from 2018 until 2020.
On November 30, 2020, then-President-elect Joe Biden nominated Yellen to serve as secretary of the treasury. The U.S. Senate confirmed her nomination on January 25, 2021, and she took office the next day, becoming the first woman to hold the position. As the 78th United States secretary of the treasury, Yellen is responsible for managing the nation’s finances and shaping economic policies that will affect the lives of millions of Americans.
Janet Yellen Age
Yellen is 76 years old as of 2022, she was born on August 13, 1946, in Brooklyn, New York City, United States. She normally celebrates her birthday with her family and close friends every year on August 13. Her zodiac sign is Leo.
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Janet Yellen Family and Education
Janet Yellen, the former Chair of the Federal Reserve and current US Treasury Secretary, was born on August 13, 1946, in Bay Ridge, Brooklyn, to a family of Polish Jewish ancestry.
Her mother, Anna Ruth, was an elementary school teacher who gave up her job to become a stay-at-home mom, while her father, Julius Yellen, was a family physician who operated his practice from the ground floor of their house.
Janet grew up in Bay Ridge alongside her older brother, John, who is a program director for archaeology at the National Science Foundation.
In a speech at the POLIN Museum of the History of Polish Jews, Yellen shared that her father’s family immigrated to the United States from Sokołów Podlaski, a small town about 50 miles outside of Warsaw.
She also revealed that many of her relatives, including nearly the entirety of the town’s Jewish population, were deported or murdered during the Holocaust.
Yellen attended Fort Hamilton High School, where she was an honor society member and participated in various extracurricular activities, including the booster club, the psychology club, and the history club.
She also served as the editor-in-chief of The Pilot, the school newspaper, which won first place in the prestigious Columbia Scholastic Press Association contest for 13 consecutive years under her leadership.
Yellen was recognized for her academic achievements with a National Merit commendation letter, and she was admitted to a selective science honors program at Columbia University, where she voluntarily studied mathematics on Saturday mornings.
She was one of 30 students to win state Regents scholarships for college and one of a select few to win the mayor’s citation for a scholarship.
She graduated in 1963 as the valedictorian of her class, and in line with school tradition, she interviewed herself in the third person for The Pilot’s valedictorian profile.
Yellen then attended Pembroke College in Brown University, where she initially intended to study philosophy but later switched to economics. She was particularly influenced by professors George Herbert Borts and Herschel Grossman.
During her freshman year, she joined the business staff of The Brown Daily Herald but soon left to focus on her studies. Yellen graduated summa cum laude and Phi Beta Kappa with a bachelor’s in economics from Brown University in 1967.
She earned her master’s and PhD in economics from Yale University in 1971, with her dissertation titled Employment, Output and Capital Accumulation in an Open Economy: A Disequilibrium Approach.
Her dissertation was supervised by James Tobin, a noted economist who later received the Nobel Memorial Prize. Yellen was the only woman among the two dozen economists who earned their doctorates from Yale in 1971.
As a teaching assistant, Yellen was meticulous in her note-taking during Tobin’s macroeconomics class, and her notes became the unofficial textbook, referred to as “Yellen Notes,” that circulated among generations of graduate students.
Her former professor and Nobel Prize in Economics laureate, Joseph Stiglitz, has called her one of his brightest and most memorable students.
Yellen later described Yale professors Tobin and William Brainard as “lifelong mentors” who laid the intellectual groundwork for her economic views.
Janet Yellen Husband and Son
Janet Yellen, the current United States Secretary of the Treasury, has been married to her husband George Akerlof since 1978.
Akerlof is also an economist and a Nobel laureate. Before marrying Yellen, Akerlof was briefly married to an architect named Kay Leong in 1974.
However, their marriage didn’t last long, and they got divorced three years later. The reason for their separation was that Akerlof didn’t get promoted to a full professorship at Berkeley.
After their divorce, Kay moved to New York and later remarried another architect.
Janet Yellen and George Akerlof met while they were both teaching at the University of California, Berkeley. They got married in 1978 and have been together ever since.
They have one child, a son named Robert, who was born in 1981. Like his parents, Robert Akerlof is also an economist. He earned his bachelor’s degree in economics and mathematics from Yale University and his PhD in economics from Harvard University. He is currently working as an associate professor of economics at the University of Warwick.
Janet Yellen and George Akerlof are both highly respected economists, and they have made significant contributions to the field.
In addition to her current role as the United States Secretary of the Treasury, Yellen has also served as the Chair of the Federal Reserve and as a professor of economics at various universities.
Akerlof, on the other hand, is best known for his work on market failures and the role of asymmetric information in the market.
He received the Nobel Memorial Prize in Economic Sciences in 2001 for his contributions to the field. Together, Yellen and Akerlof make an impressive power couple in the world of economics.