Ben Bernanke Net Worth

[Arcachon]

ABOUT BEN BERNANKE

American economist Ben Bernanke is the current Chairman of the Federal Reserve of the central bank of the United States and he has an estimated net worth of $2 million with an annual salary of $180 thousand. According to Forbes, he is ranked sixth in the list of Most Powerful People in the World in 2012 while he was eighth in 2011.

In 2009, Bernanke’s personal assets were up by as much as 31% as the U.S. stocks have rebounded. His assets, along with his family’s, are currently valued at $2 million. His two largest assets include his retirement accounts listed as TIAA Traditional and CREF Stock Large Cap Blend. These are valued between $852 thousand and $1.9 million.

Ben Shalom Bernanke was born on December 13, 1953 in Augusta, Georgia and grew up in Dillon, South Carolina. His mother, Edna, was an elementary school teacher while his father, Philip, was a pharmacist and part time theater manager. He is the eldest of the three children. His brother, Seth, is a lawyer in Charlotte, North Carolina while her sister, Sharon, is a longtime administrator at Berklee College of Music in Boston.

Mr. Bernanke was once a professor at Princeton University. He was also a chairman of the Department of Economics at the university between 1996 and 2002. From 2002 to 2005, he was a member of the board of Governors of the Federal Reserve System and he has instituted the Bernanke Doctrine. He was also a spokesman at the Great Moderation where he postulated that we are in a new era where modern macroeconomic policy has decreased the volatility of the business cycle.

[Arcachon]

Ben Bernanke has earned more from one speech than he did last year at the Fed

During a 40-minute speech in Abu Dhabi yesterday, Ben Bernanke earned more money than he did last year leading the Fed, according to a report from Reuters. His talk at a conference sponsored by the National Bank of Abu Dhabi earned him “at least” $250,000, compared to his 2013 salary of $199,700. If his speaking engagements continue at this pace, which experts say is likely, Bernanke could quickly out-earn his salary for his entire eight-year stint at the Fed.
The move to the speaking circuit has a long and lucrative tradition among former chairman.
“I found that I could give a speech or two and I could earn what I had made at the Fed,” former Fed chief Paul Volcker told the New York Times (paywall). Volcker’s salary was $80,000 a year.
Bernanke’s salary was by no means low compared to the average worker in the United States. But he earned less than a member of Australia’s parliament. And he took home less than half the salary of European Central Bank Chief Mario Draghi, who made $518,264 last year. (The ECB’s Vice President and executive board members out-earned Bernanke as well.)
At the top, the private sector has always out-earned the public, but the gap is increasingly stark. Overall, CEO pay in the US rose by as much as 800% over the past 30 years, according to The Economic Policy Institute. It found that the average US CEO made $14.1 million in 2012.
Bernanke, now at the Brookings Institution, didn’t leave the Fed because of his paycheck, but these fees are incentives for many. Other options like board seats and high-paying jobs from companies looking for government access create a revolving door, particularly to lobbyists and financial firms.
Anyone who knows how difficult a job Bernanke had or saw his marathon testimony sessions in front of congressional committees won’t begrudge him these paychecks. But the fact that it took him less than an hour to earn more than an entire year as arguably the single most powerful person in the global economy makes it pretty clear he was underpaid in the first place.

[Arcachon]

Former chairman of the U.S. Federal Reserve Ben Bernanke was rejected by a bank recently when he tried to refinance his mortgage.

According to financial news agency Bloomberg, Bernanke told an investor conference in Chicago that he recently applied to refinance the mortgage on his Washington, D.C.-area home and was turned down.

"Just between the two of us,” Bloomberg quoted him as telling the audience. “I recently tried to refinance my mortgage and I was unsuccessful in doing so.”

When the comment drew laughs, he added “I’m not making that up.”

“I think it’s entirely possible” that lenders “may have gone a little bit too far on mortgage credit conditions,” he said.

Refinanced twice already

Bernanke reportedly bought his home in 2004, slightly before he was named as America's top central banker and the man with more control over lending rates than anyone else on Earth.

He held that job from 2006 until earlier this year, when he was replaced by Janet Yellen. According to public documents, his salary was $199,700 a year, which should be enough to cover the carrying costs of a mortgage on a home in any of Washington's toniest neighbourhoods. (The salary has since gone up, as Yellen makes $201,700 a year to run the Federal Reserve.)

He refinanced the home in 2009, then again in 2011. And based on his comments this week, it appears he was rejected by a bank when he tried to do so again recently.

Since leaving the Fed, Bernanke has taken a job at economic think-tank the Brookings Institution, where his compensation is not known.

But he also reportedly takes in a reported six-figure salary for speaking engagements — none of which apparently make him a worthy credit risk under tough new lending rules that U.S. banks were forced to implement under his watch.

[DC33_2008]

How can he be having only a net worth of $2million? Look at all the bankers, economist and, even US professors in good university. Local professor can already make at least $240k per year (depending on discipline) minus consultancy.

ABOUT BEN BERNANKE

American economist Ben Bernanke is the current Chairman of the Federal Reserve of the central bank of the United States and he has an estimated net worth of $2 million with an annual salary of $180 thousand. According to Forbes, he is ranked sixth in the list of Most Powerful People in the World in 2012 while he was eighth in 2011.

In 2009, Bernanke’s personal assets were up by as much as 31% as the U.S. stocks have rebounded. His assets, along with his family’s, are currently valued at $2 million. His two largest assets include his retirement accounts listed as TIAA Traditional and CREF Stock Large Cap Blend. These are valued between $852 thousand and $1.9 million.

Ben Shalom Bernanke was born on December 13, 1953 in Augusta, Georgia and grew up in Dillon, South Carolina. His mother, Edna, was an elementary school teacher while his father, Philip, was a pharmacist and part time theater manager. He is the eldest of the three children. His brother, Seth, is a lawyer in Charlotte, North Carolina while her sister, Sharon, is a longtime administrator at Berklee College of Music in Boston.

Mr. Bernanke was once a professor at Princeton University. He was also a chairman of the Department of Economics at the university between 1996 and 2002. From 2002 to 2005, he was a member of the board of Governors of the Federal Reserve System and he has instituted the Bernanke Doctrine. He was also a spokesman at the Great Moderation where he postulated that we are in a new era where modern macroeconomic policy has decreased the volatility of the business cycle.

[Arcachon]

Tax very high.