Mark Carney’s financial success is based on his considerable banking experience, which includes significant roles at Goldman Sachs and central banking.
Mark Carney defeated other Liberal Party frontrunners to become party leader and succeed Justin Trudeau as Canada’s prime minister. But do you realise how much he is currently worth?
The former central banker and freshly elected Prime Minister of Canada is expected to have a net worth of $6.97 million by 2025, according to The Ultimate News.
The Fort Smith native’s financial portfolio grew as a result of corporate activities, including a position at Brookfield Asset Management and head of Bloomberg L.P.’s board of directors.
How Canada’s former top banker built his empire
Carney accumulated much of his wealth during his 13-year career at Goldman Sachs. After earning his PhD at Oxford, he began his career with the investment bank, where he worked in several global offices, including Boston, London, New York, Tokyo, and Toronto.
The 59-year-old had worked as co-head of sovereign risk and managing director of investment banking, earning what he later described as “a fortune.”
He also pushed to enable post-apartheid South Africans to access the international bond market. His knowledge of private capital and currency markets was invaluable during the 1998 Russian financial crisis and subsequent economic downturns, such as the 2008 financial crisis.
“When I worked for Goldman Sachs, it wasn’t the most toxic brand in global finance, it was the best brand in world finance,” Carney told me.
Carney subsequently moved into central banking, serving as Governor of the Bank of Canada before joining the Bank of England in May 2003. He was a significant mover in Canada’s recovery from the 2007 global financial crisis, becoming the first G7 country to return to pre-crisis GDP levels. He gained greater notoriety when he was named Central Bank Governor of the Year in 2012.