Janet Yellen Net Worth: How Rich is Treasury Secretary Actually?

Janet Yellen is an American economist. She has been serving as the U. S. Treasury Secretary under Joe Biden’s administration since January 26, 2021. Yellen is the first woman who worked as the Treasury Secretary and Chair of the Federal Reserve. She is also the first person who led the White House Council of Economic Advisers. As of 2023, Janet Yellen net worth is roughly $20 million.

Early life

Janet Yellen was born on August 13 in the year 1946 in Brooklyn, New York City. She was born to Julius Yellen and Anna Ruth. Her father was a physician and her mom was an elementary teacher. She has an elder brother named John who serves at the National Science Foundation as a program director for archaeology.

Yellen’s family was actually from Sokolow Podlaski who immigrated to the United States. Most of her relatives were murdered or deported during the Holocaust. Janet completed her high school education while studying at the local Fort Hamilton High School. While in high school, she took part in many clubs and had been the editor-in-chief of the school newspaper.

Yellen later attended Columbia University where she studied voluntarily studied mathematics on Saturday mornings. She became a University graduate in 1963. Then, she attended Pembroke College at Brown University. Then she attended Yale University and received her Master’s and Ph.D. in economics in 1971.

Janet Yellen Net Worth & Career

Janet started working as a professor of economics at Harvard University in 1971. She worked as an assistant professor until 1976. The next year, she started serving on the Federal Reserve’s Board of Governors. After that, she worked as a staff economist for the Board of Governors and then as a junior professor.

After marrying George Akerlof, she left her job at the Fed to accompany her husband. Janet studied at the Haas School of Business in 1980 where she conducted macroeconomics research and taught MBA and undergraduate students for over two decades.

Yellen’s nomination to the Federal Reserve Board of Governors was confirmed in the U. S. Senate. In August 1994, she assumed the seat of Federal Reserve and eventually became the 4th woman-installed governor. She served at the Federal Reserve until February 1997 and became the chair of the Council of Economic Advisers.

Janet worked as a chair of President Bill Clinton’s Council of Economic Advisers in December 1996. She stepped down from the CEA in June 1999 due to personal reasons. Then, she served as the president of the Federal Reserve Bank of San Francisco from June 2004 to October 2010. She was nominated by then-President Barack Obama as the vice-chair of the Federal Reserve in April 2010.

Yellen was mentioned as a possible secretary of the treasury during the 2020 presidential election in the incoming Biden administration. Biden made an announcement in November 2020 that he would be nominating her as a Treasury Secretary in his Cabinet. Her candidacy was unanimously approved by the Senate Finance Committee on January 22, 2021. She eventually became the first female treasury of the U. S. after her appointment.

Janet Yellen’s Husband & Personal Life

Janet Yellen is married to an economist, George Akerlof. Her husband serves as a University Professor at Georgetown University and the University of California, Berkeley. They share a son together named Robert. Yellen has collaborated with George on the research on several topics like unemployment and poverty. She has stated that George has been her biggest intellectual influence.

Janet Yellen Net Worth

Janet Yellen’s personal wealth is estimated to be around $20 million as of 2023. As a United States treasury secretary, she earns a total salary of $221,400. In addition, she is a philatelist who has a postage stamp collection that is reportedly worth between $15,000 to $50,000.