Net Worth Ranker
What Is Robert Reich’s Net Worth?
Robert Reich, a prominent American political economist, professor, author, and political commentator, has an estimated net worth of $4 million. This valuation reflects his extensive career spanning academia, government service, and media contributions. Reich’s financial standing is a culmination of earnings from his professorships, book royalties, consulting engagements, and media appearances.
Robert Reich’s Career and Earnings
Reich’s career began with a strong academic foundation. He graduated summa cum laude from Dartmouth College in 1968 with an A.B. in History, securing a Rhodes Scholarship to study Philosophy, Politics, and Economics at Oxford University. His educational journey culminated in a J.D. from Yale Law School. While the exact figures from his early career as a law clerk for Judge Frank M. Coffin are not publicly available, this role marked the beginning of his professional life.
From 1974 to 1976, Reich served as an assistant to U.S. Solicitor General Robert Bork. This position provided valuable experience but specific salary details from this period are not publicly accessible. In 1977, President Jimmy Carter appointed him Director of the Policy Planning Staff at the Federal Trade Commission. The salary for this role would have been commensurate with a senior government position, though the precise amount remains undisclosed.
His academic career significantly contributed to his income. From 1980 to 1992, Reich taught at the John F. Kennedy School of Government at Harvard University. While specific professorial salaries vary, a tenured professor at Harvard could earn between $150,000 and $300,000 annually during that time. Following his time in the Clinton administration, Reich became a professor at Brandeis University. Later, in 2006, he joined the faculty of UC Berkeley’s Goldman School of Public Policy, where he currently serves as Chancellor’s Professor of Public Policy. A Chancellor’s Professor at UC Berkeley typically earns a salary in the range of $200,000 to $400,000 per year, depending on experience and academic achievements.
Robert Reich’s time as Secretary of Labor under President Bill Clinton (1993-1997) was a significant period in his career. Cabinet members’ salaries are standardized, and during his tenure, the Secretary of Labor earned approximately $148,400 per year. While the salary itself was substantial, the long-term value of this position came in the form of increased visibility, influence, and future opportunities for consulting and writing.
Reich is the author of over a dozen books, including “The Next American Frontier,” “The Work of Nations,” “Locked in the Cabinet,” “Reason: Why Liberals Will Win the Battle for America,” “Supercapitalism: The Transformation of Business, Democracy, and Everyday Life,” “Economics in Wonderland,” “The Common Good,” and “The System: Who Rigged It, How We Fix It.” While the exact royalties he earns per book vary depending on sales and publishing contracts, a successful author like Reich could earn tens of thousands to hundreds of thousands of dollars per book. For example, if each of his books generated an average of $50,000 in royalties over their lifetime, this would contribute significantly to his net worth.
Beyond his books, Reich has also been a contributing editor for “The New Republic,” “The American Prospect,” “Harvard Business Review,” “The Atlantic,” “The New York Times,” and “The Wall Street Journal.” Payments for such contributions vary widely, from a few hundred dollars for an opinion piece to several thousand for a more in-depth article. Over several decades, these earnings would accumulate to a significant sum.
Reich’s media appearances as a political commentator on television news programs also contribute to his income. While specific fees for these appearances are not public, regular commentators on major news networks can earn several hundred to several thousand dollars per appearance. Given Reich’s frequent appearances, this could be a steady source of income.
In 2015, Reich founded Inequality Media, which produces videos and interviews on Facebook. In 2017, he began producing a “Resistance Report” program, and in late January 2020, he launched a new YouTube weekly talk show called “The Common Good.” While the revenue generated by these ventures is not publicly disclosed, successful online media platforms can generate significant income through advertising, sponsorships, and donations.
His documentary “Inequality for All” (2013) and “Saving Capitalism” (a few years later) would have provided income, although specific earnings are not known.
Real Estate and Personal Life
In 2000, Robert Reich purchased a home in Berkeley, California, for $500,000. As of today, the estimated value of this property is around $2 million. This represents a substantial increase in value over the years, contributing to his overall net worth. This increase is due to the rising real estate market in the Bay Area. The specific address of the property is not publicly available.
Reich married British-born lawyer Clare Dalton in 1973, and they divorced in 2012. He subsequently married photographer Perian Flaherty. These personal life events do not directly impact his net worth, but they provide context to his life and career decisions. His two sons, Sam (CEO of CollegeHumor) and Adam (sociology professor at Columbia University), are not directly involved in his finances.
Robert Reich’s Investment and Assets
While specific details of Robert Reich’s investment portfolio are not publicly available, it is common for individuals with his level of income and assets to have a diversified portfolio that includes stocks, bonds, mutual funds, and other investment vehicles. A well-managed investment portfolio can significantly contribute to an individual’s net worth over time.
Robert Reich’s Net Worth: A Summary
In summary, Robert Reich’s $4 million net worth is a result of his multifaceted career as an academic, government official, author, and media commentator. His earnings from professorships, book royalties, media appearances, and investments have all contributed to his financial standing. The appreciation of his real estate holdings in Berkeley, California, has also played a significant role in increasing his net worth over time.
