Goldman Sachs Net Worth

February 20, 2023
1 min read

The Goldman Sachs Group, Inc was founded in 1869 by Marcus Goldman and Samuel Sachs in New York City, and is a banking company that focuses on investment banking, investment management and other financial services.

Have you ever wondered how much Goldman Sachs is worth, as of late 2017? According to authoritative sources it has been estimated that the Goldman Sachs` net worth is now over $50 billion, an amount acquired over the years, thanks largely to their successful management.

Goldman Sachs Net Worth $50 Billion

Founded by Marcus Goldman in 1869 who hired his son-in-law Samuel Sachs in 1882, and three years later, Marcus` son Henry joined the firm and his son-in-law Ludwig Dreyfuss. After that the name of the firm was adapted to Goldman Sachs & Company.

In the beginning, the company built its value on commercial paper, however, after the stock market crash in 1929, company officials had to change their business focus, and became involved in investment banking.

Throughout the years, the company has had its ups and downs; some of their successful ventures have included the acquisition of J. Aron & Company, Hull Trading Company, GE Capital Bank and many other successful firms, all of which increased the worth of Goldman Sachs.

However, in 2008, Goldman Sachs suffered a huge loss when the financial market crashed, largely because of the company’s over-exposure to sub-prime mortgage lending, however, thanks to the help of the USA government, in a short time, they were back on their feet.

The current CEO of the firm is Lloyd Blankfein, while the President and COO is Gary Cohn; the list of notable people who have worked for Goldman Sachs is long, including many who have been co-opted into governmental or bureaucratic positions; those who gained fame and fortune through Goldman Sachs in relatively recent times number former US Secretaries of the Treasury Robert Rubin and Henry Paulson, former Bank of Canada Governor and current Governor of the Bank of England Mark Carney, and European Central Bank President Mario Draghi.

An indication of the current prosperity of Goldman Sachs can be seen from assets approaching $900 billion with 10% equity, and an employee roster which runs at well over 10,000 personnel.

Daniel Wanburg

As the Managing Editor at Net Worth Post, I lead a talented team in delivering compelling content on the lives and achievements of influential figures. With a keen eye for detail and a passion for storytelling, I oversee the production of insightful biographies that resonate with our audience. My role involves not only managing the editorial process but also conducting research, crafting engaging narratives, and ensuring the accuracy and quality of our publications.

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