Burton Malkiel is a renowned economist, author, and investment advisor. With his expertise in the field of finance, Malkiel has amassed a significant net worth through his various endeavors. In this article, we will delve into his background, career achievements, and Burton Malkiel Net Worth.
Quick Facts
| Fact | Information |
|---|---|
| Full Name | Burton Gordon Malkiel |
| Popular Name | Burton Malkiel |
| Gender | Male |
| Birth Date | August 28, 1932 |
| Age | 90 years old |
| Parents | N/A |
| Siblings | N/A |
| Birth Place | Boston, Massachusetts, USA |
| Nationality | American |
| Ethnicity | N/A |
| Education | Boston Public Latin School, Harvard College, Harvard Graduate School of Business |
| Marital Status | Married |
| Sexual Orientation | Straight |
| Wife/Spouse | Judith Atherton Malkiel (deceased), Nancy Weiss Malkiel |
| Children | Jonathan Malkiel |
| Dating | N/A |
| Net Worth | $808.41K (estimated) |
| Source of Wealth | Investments, writing |
| Height | N/A |
| Weight | N/A |
What is Burton Malkiel’s Net Worth and Salary in 2023?
As of 2023, Burton Malkiel’s estimated net worth is approximately $808.41K. He accumulated wealth through his successful career as an economist, financial executive, and writer. Malkiel has made significant contributions to the field of finance and has also been involved in various investment ventures.
Citation: https://www.benzinga.com/sec/insider-trades/tbph/burton-malkiel
Why is Burton Malkiel Famous?
Burton Malkiel gained fame through his classic finance book, “A Random Walk Down Wall Street,” which was first published in 1973 and is now in its 13th edition as of 2023.
In this book, Malkiel argues against trying to time or beat the market and instead advocates for buying and holding a broad index fund. His book has become a staple in the finance industry and has influenced countless investors with its insights and strategies.
Burton Malkiel Biography
Early Life
Burton Gordon Malkiel was born on August 28, 1932, in Boston, Massachusetts. Unfortunately, information about his parents and siblings is not available. Growing up, Malkiel attended the Boston Public Latin School, where he laid the foundation for his future academic pursuits and career in finance.
Education
Malkiel pursued higher education at Harvard College, obtaining his bachelor’s degree in 1953. He then attended the Harvard Graduate School of Business, earning his MBA in 1955. After completing his studies, Malkiel served as a first lieutenant in the United States Army Finance Corps for three years.
Career and Awards
He is most recognized for his classic finance book “A Random Walk Down Wall Street,” first published in 1973 and now in its 13th edition as of 2023. The book popularized the random walk hypothesis, which suggests that past stock market prices cannot be used to predict future trends.
Significant contributions to economics and finance have marked Malkiel’s career. He served as the Chemical Bank Chairman’s Professor of Economics at Princeton University, where he was a beloved teacher for generations of students.
Malkiel’s career also includes serving as a member of the Council of Economic Advisers from 1975 to 1977, president of the American Finance Association in 1978, and dean of the Yale School of Management from 1981 to 1988.
He spent 28 years as a director of the Vanguard Group and currently serves as Chief Investment Officer to software-based financial advisor Wealthfront Inc.
His influence extends beyond academia and into the corporate world, with board memberships at Prudential Financial, the American Stock Exchange, and the Vanguard Group.
In recognition of his significant contributions, Malkiel has received several honorific prizes and lifetime achievement awards from professional investment organizations. He was elected to the American Philosophical Society in 2001.
His work has not only revolutionized the field of investment management but also influenced countless individuals to pursue careers in academia and the financial community.
Despite his numerous achievements, Malkiel remains an active contributor to the field, continuing to shape the understanding of financial markets and investment strategies.
Personal Life
Burton Malkiel married his first wife, Judith Atherton Malkiel, in 1954, and they had one son named Jonathan. Sadly, Judith passed away in 1987.
In 1988, Malkiel married his second wife, Nancy Weiss Malkiel, who served as the Dean of the College at Princeton University from 1987 to 2011. Malkiel is passionate about mathematical and statistical analysis, which he applies to casino games and horse race betting.
Read more: Myron Scholes Net Worth
Social Media Accounts
Burton Malkiel is not known to have active social media accounts. He prefers to focus on his academic and professional endeavors rather than engaging in online platforms.
FAQs about Burton Malkiel
What is Burton Malkiel’s most famous book?
Burton Malkiel’s most famous book is “A Random Walk Down Wall Street,” which offers insights into investment strategies and challenges traditional approaches to stock market analysis.
What is Burton Malkiel’s net worth in 2023?
As of 2023, Burton Malkiel’s estimated net worth is approximately $808.41K.
Conclusion
Burton Malkiel is a highly respected economist, financial executive, and writer who has significantly contributed to finance. Through his classic book, “A Random Walk Down Wall Street,” he has influenced countless investors and challenged conventional wisdom in the stock market.
With his extensive knowledge and expertise, Malkiel remains a prominent figure in the finance industry, providing valuable insights and advice to investors worldwide.
