Lawrence Henry Summers is a former World Bank Chief Economist, former vice president of development economics, former representative of the American Treasury Department under President Clinton, and former director of the American Economic Council under President Obama. Prior to this, Larry Summers was the president of Harvard University and a professor at Harvard’s Kennedy School of Government.
Larry Summers’s Biography
Larry Summers was born in the Connecticut city of New Haven. He comes from a Jewish family.
He is the son of Robert and Anita Summers, both economists.
Summers has two more nephews: Paul Samuelson (his father’s brother) and Kenneth Arrow (his mother’s brother).
They are both Nobel laureates in economics. Summers grew up in Pennsylvania’s Penn Valley.
He attended Harriton High School to further his education.
He received a Ph.D. from the Massachusetts Institute of Technology in 1982.
Facts of Larry Summers
| Celebrated Name: | Larry Summers |
| Real Name/Full Name: | Lawrence Henry Summers |
| Gender: | Male |
| Age: | 68 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 2023: | $45 Million |
Larry Summers’s Height, Weight, And Age
Larry Summers was born on November 30, 1954, thus he will be 68 years old in 2023.
He is 5 feet 9 inches tall and weighs 80 kg.
Larry Summers’s Marriage, Wife
In December 2005, Larry Summers married Elisa New, a former English professor.
He previously married Victoria Joanne.
The couple’s only children were Harry and their twin daughters Pamela and Ruth.
He and his family currently live in Brookline, Massachusetts.
While working on his Ph.D., he was diagnosed with Hodgkin’s lymphoma.
He obtained the necessary treatment and recovered from cancer.
Larry Summers’s Career
Summers began working as an economics professor at Harvard University in 1983.
He left Harvard in 1991 and worked as the World Bank’s Chief Economist from that year until 1993.
In 1993, he was appointed by the Clinton Administration as the US Treasury Department’s Undersecretary for International Affairs.
In 1995, Summers was promoted to the position of Deputy Secretary of the Treasury.
In 1999, he was named Secretary of the Treasury.
During the Mexican economic crisis of 1994, the Russian financial crisis, and the Asian financial crisis of 1997, he made substantial contributions.
Summers gave speeches at financial institutions such as JPMorgan Chase, Goldman Sachs, Merrill Lynch, Lehman Brothers, and Citigroup.
From January 2009 to November 2010, he served as the Director of the White House US National Economic Council under President Barack Obama.
Summers was widely regarded as a key figure in the Clinton administration.
He supervised President Clinton’s administration’s rejection of a Republican-proposed tax cut during his tenure as Treasury Secretary.
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Larry Summers’ Salary
Larry Summers has amassed a sizable fortune as a result of his significant contribution to the functioning of government.
His estimated net worth as of July 2023 was $45 million.
Summers was nominated for Treasury Secretary by President Clinton in 1999.
Summers’ debts were valued at $500,000, while his assets were valued at $900,000.
He was a member of President Barack Obama’s cabinet in 2009, and he assessed his net worth at the time to be between $16 and $38 million.
He amassed a significant chunk of his money by serving in prominent government posts for several years.
He was both the World Bank’s Chief Economist and the President of Harvard University.
During the Clinton administration, he was the American Treasury Department’s Undersecretary for International Affairs.
In 1995, he was named Deputy Secretary of the Treasury, and in 1999, he was named Secretary. Summers was Harvard University’s twenty-seventh president from 2001 until 2006.
He then became the managing partner of “D.E. Shaw & Co.”
He has also delivered talks for Citigroup, Goldman Sachs, Merrill Lynch, Lehman Brothers, and JPMorgan Chase.
Summers was the director of the US National Economic Council under President Barack Obama from 2009 to 2010.
