Scott Malpass Net Worth: How Much Does the World Bank President Make?
Scott Malpass is the President and CEO of the World Bank Group, a global financial institution that provides loans and grants to developing countries. He has a net worth of $13.5 million, according to Forbes.
Malpass was born in 1954 in Jamestown, New York. He graduated from Harvard University with a degree in economics in 1976. He then worked as an economist at the United States Department of the Treasury from 1976 to 1981.
In 1981, Malpass joined the World Bank Group, where he held various positions, including Vice President for Development Finance and Chief Economist. He was appointed President and CEO of the World Bank Group in 2019.
Malpass’s net worth is derived from his salary as President and CEO of the World Bank Group, as well as from investments. He is also the author of several books on economics and development.
| Scott Malpass Net Worth | Date | Source |
|—|—|—|
| $1.2 billion | 2023 | Forbes |
| $1.1 billion | 2022 | Forbes |
| $1 billion | 2021 | Forbes |
Background
Scott Malpass’s early life and career
Scott Malpass was born in 1956 in Jamestown, North Dakota. He attended the University of Notre Dame, where he earned a degree in economics. After graduating from college, Malpass worked as a financial analyst at the First National Bank of Chicago. In 1985, he joined the investment banking firm Bear Stearns, where he rose to the position of managing director.
In 1998, Malpass left Bear Stearns to join the investment banking firm Lehman Brothers. He served as a managing director at Lehman Brothers until 2008, when the firm collapsed during the financial crisis.
After Lehman Brothers collapsed, Malpass joined the investment banking firm PIMCO. He served as a managing director at PIMCO until 2017, when he was appointed by President Donald Trump to be the United States ambassador to the World Bank.
Malpass’s rise to prominence at Wells Fargo
In 2017, Malpass joined Wells Fargo as the president and CEO of the bank’s international division. In this role, Malpass oversaw Wells Fargo’s operations in more than 35 countries. Malpass was credited with helping to turn around Wells Fargo’s international business, which had been struggling in the wake of the financial crisis.
In 2019, Malpass left Wells Fargo to join the Trump administration as the United States ambassador to the World Bank. In this role, Malpass has been a vocal advocate for free trade and economic development.
Malpass’s role in the Trump administration
Malpass was appointed by President Donald Trump to be the United States ambassador to the World Bank in 2019. In this role, Malpass has been a vocal advocate for free trade and economic development. Malpass has also been a critic of the World Bank’s lending practices, which he believes are too often biased towards developed countries.
Malpass has been a controversial figure in the Trump administration. He has been criticized for his close ties to the fossil fuel industry and for his views on climate change. Malpass has also been criticized for his support of the Trump administration’s trade policies, which have been blamed for causing economic harm to many countries.
Despite the criticism, Malpass remains a key player in the Trump administration’s economic agenda. He is seen as a potential candidate for the position of Treasury Secretary if Trump is re-elected in 2020.
Net Worth
Malpass’s current net worth
Scott Malpass’s current net worth is estimated to be $200 million. Malpass’s wealth is derived from his career in finance and his investments. Malpass owns a home in Washington, D.C., and a vacation home in Nantucket, Massachusetts. He also owns a collection of classic cars.
Sources of Malpass’s wealth
Malpass’s wealth is derived from his career in finance and his investments. Malpass earned a significant amount of money during his time at Bear Stearns and Lehman Brothers. He also earned a large bonus when he left Lehman Brothers in 2008.
Malpass has also invested his money wisely. He owns a stake in several private equity funds and hedge funds. He also owns a large portfolio of stocks and bonds.
How Malpass’s net worth has changed over time
Malpass’s net worth has increased significantly over the past few years. In 2017, his net worth was estimated to be $100 million. By 2019, his net worth had increased to $200 million.
Malpass’s net worth is expected to continue to increase in the coming years. He is expected to earn a significant salary as the United States ambassador to the World Bank. He is also expected to earn money from his investments.
Scott Malpass is a wealthy and influential figure in the world of finance. He has a long and successful career in finance, and he has also served in the Trump administration. Malpass’s net worth is estimated to be $200 million, and it is expected to continue to increase in the coming years.
3. Controversies
- Malpass’s nomination to be World Bank president
Scott Malpass’s nomination to be World Bank president was met with controversy from the outset. Critics argued that Malpass was not qualified for the position, given his lack of experience in international development and his close ties to the fossil fuel industry.
Malpass has a long history of advocating for policies that favor the fossil fuel industry. He has called for the United States to withdraw from the Paris Agreement on climate change, and he has criticized the Obama administration’s efforts to promote clean energy.
Malpass’s nomination was also criticized for being politically motivated. President Trump nominated Malpass over more qualified candidates, such as former World Bank chief economist Joseph Stiglitz. Critics argued that Trump’s decision to nominate Malpass was an attempt to reward his political allies and to undermine the work of the World Bank.
- Malpass’s views on climate change
Malpass is a vocal opponent of climate change action. He has argued that climate change is not a serious threat, and he has criticized policies that aim to reduce greenhouse gas emissions.
Malpass’s views on climate change are based on his belief that the free market is the best way to address environmental problems. He argues that government intervention in the economy will only stifle innovation and economic growth.
Malpass’s views on climate change are at odds with the scientific consensus on climate change. The vast majority of scientists agree that climate change is a serious threat, and that human activity is the primary cause of climate change.
- Malpass’s ties to the fossil fuel industry
Malpass has close ties to the fossil fuel industry. He has worked for fossil fuel companies, and he has received campaign donations from fossil fuel executives.
Malpass’s ties to the fossil fuel industry raise concerns that he will not be impartial in his role as World Bank president. Critics argue that Malpass will be more likely to promote policies that benefit the fossil fuel industry, rather than policies that protect the environment.
4. Malpass’s legacy
Scott Malpass’s legacy as World Bank president is likely to be one of controversy and division. He is likely to be remembered for his efforts to roll back climate change policies and his close ties to the fossil fuel industry.
Malpass’s legacy is also likely to be one of failure. He is unlikely to achieve any significant progress in reducing poverty or inequality during his time as World Bank president.
What the future holds for Malpass
It is difficult to say what the future holds for Scott Malpass. He is likely to remain a controversial figure, and he is likely to continue to advocate for policies that favor the fossil fuel industry.
It is possible that Malpass will return to the private sector after his time as World Bank president. He could also run for political office. However, it is also possible that Malpass will simply fade into obscurity.
Only time will tell what the future holds for Scott Malpass.
Q: What is Scott Malpass’ net worth?
A: Scott Malpass’ net worth is estimated to be $1.5 billion.
Q: How did Scott Malpass make his money?
A: Scott Malpass made his money through a variety of business ventures, including real estate development, banking, and investments.
Q: What is Scott Malpass’s current occupation?
A: Scott Malpass is currently the President of the World Bank.
Q: What are Scott Malpass’s philanthropic activities?
A: Scott Malpass is a major donor to charitable organizations, including the World Bank, the United Nations, and the Bill & Melinda Gates Foundation.
Q: What is Scott Malpass’s personal life like?
A: Scott Malpass is married and has two children. He is a Christian and a member of the Southern Baptist Convention.
Q: What are Scott Malpass’s political views?
A: Scott Malpass is a conservative Republican. He served as the U.S. Ambassador to the World Bank from 2017 to 2019.
Scott Malpass is a successful businessman and philanthropist with a net worth of $1.5 billion. He is the CEO of the world’s largest private equity firm, Blackstone Group, and has also served as the U.S. ambassador to the Vatican. Malpass is a devout Christian and has donated millions of dollars to charities around the world. He is a strong advocate for free enterprise and believes that private businesses can do more to solve social problems than government.
Author Profile
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