Fed Chairman Jerome Powell has an estimated net worth of $20 million to $55 million. An attorney and investment banker, Powell assumed the position of the 16th chair of the US Federal Reserve in 2018.
| Full Name | Jerome Hayden Powell |
|---|---|
| Net Worth | $20 million – $55 million |
| Occupation | Federal Reserve Chairman |
| Date of Birth | February 4, 1953 (age 70) |
| Place of Birth | Washington, D.C., U.S. |
Who is Jerome Powell?
Before becoming the chair of the Federal Reserve, Powell worked as an investment banker. Source: New York Magazine
Born in 1953, Jerome Powell is currently serving as the 16th chair of the Federal Reserve. Powell earned a degree in politics from Princeton University in 1975. He continued his studies until 1979 when he received a Juris Doctor from the Georgetown University Law Center.
Shortly after finishing his studies, Powell moved to investment banking, having worked as a partner at the Carlyle Group until 2005. After his tenure at the Carlyle Group, Powell founded Severn Capital Partners, a private equity firm that specializes in litigation finance, acquisitions, debt investment, foreclosures and formal liquidations, and more.
Powell first got notably involved in politics in 1992, serving under the Secretary of the Treasury for domestic finance during the George H.W. Bush administration. In 2012, he was appointed as one of the members of the Federal Reserve Board of Governors. In 2018, Powell was appointed as the Fed Chairman by President Donald Trump, and later renominated to the position by President Joe Biden.
What is Jerome Powell’s net worth in 2023?
According to a Washington Post report, Jerome Powell’s net worth ranges between $19.7 million and $55 million. The estimated net worth figures are based on Powell’s financial disclosures.
It is worth noting that the Post reported that Powell is the richest Fed Chair since 1948. Given his Ivy League education, work as an investment banker, and a founder of a private equity firm, that is not exactly surprising.
With that in mind, let’s look at Powell’s most notable business and political ventures.
The Carlyle Group
Powell started working at the Carlyle Group, one of the largest private equity firms in the world, in the late 1990s. It is not publicly known how much Powell earned during his time as a partner at the Carlyle Group. As of 2023, Carlyle has $376 billion in assets under management (AUM).
Severn Capital Partners
After leaving Carlyle, Powell founded Severn Capital Partners in 2005. Severn Capital Partners is a private investment firm that deals in several areas of financial disciplines, including litigation finance, litigation management, product rationalization, and more.
“Severn Partners is a different kind of Private Equity partner. We take an active role in our investments. We seek to add value through hands on participation, direction, and at times – full control. We believe that there is such a thing as “dumb money”, and we work hard to be more than just a financial partner;” the Severn Capital Partner team described their mission on the their website.
The bottom line: Powell is one of the richest Fed chairs in the US history
With an estimated net worth of up to $55 million, Powell is one of the wealthiest chairmans of the Federal Reserve in the country’s history. While politically aligned as a Republican, Powell has earned the trust of Democratic President Joe Biden, which speaks to Powell’s expertise as a financial expert.
If you want to learn more about the net worth of other prominent individuals, check out our articles about Elon Musk and Vitalik Buterin.
Source: https://coincodex.com/article/27166/jerome-powell-net-worth/