Blankfein biography
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Goldman Sachs' newly minted billionaire CEO Lloyd Blankfein grew up in the projects of Brooklyn
Goldman Sachs' CEO Lloyd Blankfein is officially a billionaire.
The bank CEO now has an estimated $1.1 billion net worth thanks to the rise in Goldman's stock price. (About $500 million of his worth is in Goldman's shares, Bloomberg calculated).
What's really remarkable about Blankfein, though, is that he's someone who comes from humble beginnings. He's the epitome of the "American dream."
Blankfein was born in the Bronx. He grew up in Brooklyn in the Linden Housing projects. He shared a small apartment with his extended family, including his grandmother, his sister, and his nephew.
His father sorted mail for the post office. He worked the night shift because it paid about 10 percent more than the day shift. His mother worked as a receptionist at a burglar alarm company. Blankfein later joked that it was "one of the few growth industries" in the neighborhood.
To earn extra money, Blankfein began working as a lifeguard. He also served concessions at Yankee stadium, according to Fortune magazine.
Blankfein was a good student. He attended Thomas Jefferson high school, which no longer exists as a high school
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Lloyd Blankfein and the American Dream
When speaking to the 2013 graduates of LaGuardia College, Lloyd Blankfein asked them “What are the chances of a kid from the public housing projects in Brooklyn running one of the largest financial institutions in the world” – and he himself replied: “You never know. This unpredictability is what’s great about life!”
Lloyd Blankfein is the realization of the “American Dream”. The Jewish boy who grew up in Brooklyn, in the New York projects, and sold peanuts and hot dogs at Yankee Stadium, became the Chief Executive Officer, the CEO of the Goldman Sachs Group, one of the most prestigious positions in the financial world. When, in 2006, Henry Paulson, then CEO of Goldman Sachs, was appointed to the position of Treasury Secretary in the George W. Bush administration, Lloyd Blankfein took his place. Paulson said at the time that there was no one better suited to take on such a role. In 2014 Blankfein oversaw about $915 billion in investment funds and 32.900 employees. According to Fortune magazine, at the time he was the highest-paid CEO on Wall Street and Forbes named him the 27th most powerful individual in the world, right after Prime Minister Binyamin Netanyahu. In 2015, he joined the list of billionaires in the world.
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Lloyd Blankfein
Born
(1954-09-20) Sep 20, 1954 (age 70)Education Harvard University (BA, JD) Occupation(s) Senior Head, Goldman Sachs Years active 1982–2018 Political party Democratic Spouse Children 3