What is Jerome Powell’s net worth?
Federal Reserve Chairman Jerome Powell is wealthiest Fed chair since 1940s
Federal Reserve Chairman Jerome Powell is one of the wealthiest people to hold his position in decades.
When he was nominated for the role by President Trump in 2017, The Washington Post reported that Powell would be the richest Fed chair since the 1940s, when Marriner Eccles served in the role.
At the time of his nomination, The Post estimated Powell’s net worth was between $19.7 million and $55 million based on his financial disclosure documents.
Based on his financial disclosure documents from 2019 Powell’s net worth decreased slightly to between $17.7 million and $54.9 million.
Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee on Feb. 12, 2020, during a hearing on the Monetary Policy Report. (AP Photo/Susan Walsh)
According to The Post, Powell earned his money at private-equity firm The Carlyle Group. He was a partner at Carlyle from 1997 through 2005, according to the Federal Reserve website.
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Aside from being one of the wealthiest Fed chairs, Powell is also the first without formal economics training.
He received his bachelor’s degree in politics from Princeton University and earned his law degree from Georgetown University, the Fed website said.
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Under George H.W. Bush’s presidency, Powell was an assistant secretary and undersecretary of the Treasury Department and worked on policy for financial institutions and the Treasury debt market, according to the Fed website.
Powell has been on the Fed’s Board of Governors since 2012 and took up the chairman position in 2018. His term expires in 2022, but it is possible he could be reappointed.
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