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Robert Rubin Net Worth, Biography & Wiki 2017
Robert Edward Rubin was born on 29 August 1938, in New York City, USA, of part-Jewish descent. Robert is a lawyer, retired banking executive, and former cabinet member, perhaps best known to have served as the 70th United States Secretary of the Treasury under the Clinton administration. All of his efforts have helped put his net worth to where it is today.
How rich is Robert Rubin? As of early-2017, sources inform us of a net worth that is at $100 million, mostly earned through a successful career in banking and politics which began in the mid-1960s. He spent 26 years with Goldman Sachs and was a former director of Citigroup., but all of his achievements have ensured the position of his wealth.
Robert Rubin Net Worth $100 million
Robert was born into a wealthy family; he attended Miami Beach High School, and after matriculating, he then went to Harvard College, graduating with a degree in economics as summa cum laude. He then went to Harvard Law School for three years before leaving to travel the world, later attended the London School of Economics and Yale Law School from where he obtained an LL.B.
Rubin began his career with the firm Cleary, Gottlieb, Steen & Hamilton as an attorney. In 1966, he joined Goldman Sachs as part of the risk arbitrage department, and five years later he would become a general partner, and in 1980 he became part of the management committee. Seven years later, he would become the Vice Chairman and Co-Chief Operating Officer alongside Jon Corzine, serving in the position for three years before becoming the Co-Chairman and Co-Senior Partner with Stephen Friedman. During his time with Goldman Sachs, his net worth increased significantly.
In 1993, Robert became the Assistant to the President for Economic Policy, and directed the National Economic Council which Bill Clinton created, helping the NEC succeed and would be of significance during the 1990s global financial crisis. He had a hand in providing $20 billion US loan guarantees to the Mexican Government, and also worked with the International Monetary Fund to help with crisis in various financial markets around the world. In 1998, he received the US Senator John Heinz Award for Greatest Public Service by an Elected or Appointed Official.
After leaving the Clinton Administration, he became the chairman of the Local Initiatives Support Corporation (LISC), and joined Citigroup as a board member. The move proved controversial as shareholders lost more than 70 percent since he was encouraging changes that would apparently risk the firm; investors later filed a lawsuit but it was proven that it was without merit. He was also criticized for the collapse of Enron Corp which was a client of Citigroup. Regardless, in 2001 he was awarded the Presidential Citizens Medal and the following year, became a member of the Harvard Corporation. During the Obama administration Rubin became one of the president’s economic advisors, so in 2009 he resigned from Citigroup, having gained significant personal compensation which increased his net worth further.
In 2013, Robert became a member of the Africa Progress Panel (APP) and three years later, found publicity once again when he called on the United Kingdom to remain as a member of the European Union.
For his personal life, it is known that Rubin is married to Judith Leah Oxenberg Rubin, and the couple has two sons. They were long time members of Temple Beth Shalom on Miami Beach.