Lawrence H. Summers: Biography, Career, and Business Insights

Larry Summers’s Profile Summary

Company	https://x.com/LHSummers
Position	Lawrence H. Summers is the Charles W. Eliot University Professor and President Emeritus at Harvard University.
Source of wealth	Academic positions, government service, consulting and speaking engagements, board memberships, investments.
Also known as	Former U.S. Treasury Secretary, President Emeritus of Harvard University, Economic Advisor.
Age	71
Education	Massachusetts Institute of Technology – Bachelor of Science, Harvard University – Ph.D. in Economics.
Citizenship	United States
Residence	Brookline, Massachusetts, USA
Family	Married to Elisa New; has three children from his first marriage and three stepdaughters. Married to Elisa New; six children.
Website, Social Media	https://x.com/LHSummers

Biography

Lawrence H. Summers, born on November 30, 1954, in New Haven, Connecticut, is a distinguished American economist and academic. He earned his Bachelor of Science degree from the Massachusetts Institute of Technology in 1975 and his Ph.D. in Economics from Harvard University in 1982. At the age of 28, he became one of the youngest tenured professors in Harvard's history. Summers served as Chief Economist of the World Bank from 1991 to 1993, and subsequently held several key positions in the U.S. government, including Under Secretary for International Affairs, Deputy Secretary, and ultimately the 71st Secretary of the Treasury under President Bill Clinton from 1999 to 2001. He was instrumental in addressing financial crises in Mexico, Brazil, Russia, and Asian emerging markets during the 1990s. From 2001 to 2006, Summers served as the 27th President of Harvard University, focusing on expanding financial aid and enhancing the university's commitment to the sciences. He returned to public service as Director of the National Economic Council for President Barack Obama from 2009 to 2010, playing a pivotal role in shaping the U.S. response to the 2008 financial crisis. Currently, he is the Charles W. Eliot University Professor and directs the Mossavar-Rahmani Center for Business and Government at Harvard's Kennedy School.

Holds the Harvard titles of Charles W. Eliot University Professor and President Emeritus; serves as Weil Director of the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School.

How did Larry Summers make money?

Larry Summers makes money in the following areas:

Academic positions, government service, consulting and speaking engagements, board memberships, investments.
What is Larry Summers net worth?

As of 2026, Larry Summers’s net worth is estimated to be $40M.

What is Larry Summers also known as?

Lawrence Summers is recognized for his contributions as an economic advisor, providing insights on fiscal policy and global economics. He has served on various corporate boards, including Block Inc. and Lending Club, and has been a sought-after speaker at financial institutions and global forums. Summers has also authored numerous articles and opinion pieces on economic policy, influencing public discourse on financial and economic matters.

Prominent achievements

Recipient of the John Bates Clark Medal in 1993, awarded the Alan T. Waterman Award by the National Science Foundation in 1987, served as the 71st U.S. Secretary of the Treasury, directed the National Economic Council, became one of the youngest tenured professors at Harvard University, elected to the National Academy of Sciences in 2002, recognized as one of Time magazine's "100 Most Influential People in the World" in 2009.

What are Larry Summers’s key insights?

Lawrence Summers advocates for a balanced approach to economic policy, emphasizing the importance of market efficiency alongside proactive government intervention during economic downturns. He believes in the necessity of robust fiscal policies to stimulate growth and mitigate crises, while also upholding the significance of education and innovation as drivers of long-term economic prosperity

Personal life

Lawrence Summers was first married to Victoria Perry in 1984, with whom he has a son, Harry, and twin daughters, Pamela and Ruth. They divorced in 2003. In 2005, he married Elisa New, a professor of English at Harvard University, who has three daughters from a previous marriage: Orli, Yael, and Maya.

Spouse Elisa New is the host and director of PBS's Poetry in America.