Robert Bernard Reich, an influential American figure, has made significant contributions as a professor, author, lawyer, and political commentator. With a tenure in the administrations of Gerald Ford, Jimmy Carter, and as Secretary of Labor under Bill Clinton, Reich has also been a guiding force on Barack Obama’s economic advisory board. Currently, he’s the Chancellor’s Professor of Public Policy at UC Berkeley. Recognized by Time magazine and The Wall Street Journal for his impactful work, Reich’s legacy in public policy is notable.
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Robert Reich Net Worth
Robert Reich has a net worth of $4 million. He has served in the administrations of Presidents Gerald Ford, Jimmy Carter, Bill Clinton, and Barack Obama. Over the past twenty years, Reich has increased his fees for public speaking, often receiving tens of thousands of dollars from large corporations and industry groups for his talks on income inequality.
Early Life
Born on June 24, 1946, in Scranton, Pennsylvania, Robert Reich grew up in a family led by his parents, Mildred and Edwin Reich, who owned a women’s clothing store. Diagnosed with multiple epiphyseal dysplasia, also known as Fairbank’s disease, Reich faced challenges from an early age due to his short stature and other symptoms, which often made him the target of bullying. He found a protector in Michael Schwerner, a civil rights worker who was tragically killed by the Ku Klux Klan in 1964, an event that deeply inspired Reich’s dedication to public service.
Reich’s academic journey began at John Jay High School in Cross River, New York, where he excelled, earning a National Merit Scholarship. He went on to major in history at Dartmouth College, graduating summa cum laude in 1968. His academic prowess continued as he won a Rhodes Scholarship to study Philosophy, Politics, and Economics at University College, Oxford, where he first crossed paths with Bill Clinton, a fellow Rhodes Scholar. Reich’s educational journey culminated with a J.D. from Yale Law School, where he was classmates with notable figures including Bill Clinton, Hillary Rodham, Clarence Thomas, and Richard Blumenthal. After Yale, he served as a law clerk for Judge Frank M. Coffin, the chief judge of the U.S. Court of Appeals for the First Circuit, setting the stage for his future in public service.
Career
Between 1974 and 1976, Reich was an assistant to U.S. Solicitor General Robert Bork, under whom he studied antitrust law at Yale. In 1977, he was appointed by President Jimmy Carter as the director of the Policy Planning Staff at the Federal Trade Commission. From 1980 to 1992, he taught at Harvard University’s John F. Kennedy School of Government, during which time he authored several influential books and articles, including “The Next American Frontier” and “The Work of Nations.”
Following Bill Clinton’s presidential victory in 1992, Reich was appointed to oversee economic policy during the presidential transition, later serving as Secretary of Labor. Initially, Reich was a key figure in the Clinton cabinet, advocating for increased federal investment in job training and infrastructure. He was a member of the National Economic Council, advising on various policy areas such as health care reform, education, welfare, national service, and technology. Reich also collaborated with agencies like the Federal Communications Commission to promote a labor-centric regulatory approach. Over time, however, his influence diminished as President Clinton received advice from others more focused on reducing the federal deficit and curbing government spending.
Personal Life
In 1973, Reich married British-born lawyer Clare Dalton in Cambridge, UK, and together they had two sons,Sam and Adam.Sam rose to become the CEO of Collegehumor, and Adam pursued an academic career, becoming a sociology professor at Columbia University. Following their divorce in 2012, Reich married photographer Perian Flaherty.
Where did Robert Reich teach?
Before his current role at the University of California, Berkeley, Reich held professorial positions at Harvard University’s John F. Kennedy School of Government and Brandeis University’s Heller School for Social Policy and Management.
Conclusion
Robert Reich’s journey from public service to public speaker and academic luminary is a testament to his dedication to social justice, economic policy, and education. His net worth of $4 million signifies not just financial success but also a life rich in contribution to public discourse and policy. Reich’s legacy continues to influence a broad audience, from students in lecture halls to readers worldwide.
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FAQs about Robert Reich Net Worth
- What is Robert Reich’s net worth?
- Reich’s net worth is estimated to be around $4 million.
- Where did Robert Reich go to college?
- He attended Dartmouth College, University College, Oxford as a Rhodes Scholar, and Yale Law School.
- What roles has Robert Reich held in public service?
- Reich has served as Secretary of Labor under President Bill Clinton, among other public service roles.
- Has Robert Reich authored any books?
- Yes, he has written more than a dozen books on topics including economics, politics, and public policy.
- Where does Robert Reich currently teach?
- Reich is the Chancellor’s Professor of Public Policy at the University of California, Berkeley.
