History of Lloyd Blankfein in Timeline

Lloyd Blankfein is an American billionaire and investment banker, most notably known for his long tenure at Goldman Sachs. He served as CEO and chairman from 2006 to 2018 and then as senior chairman from 2019. Prior to his role as CEO, he was the president and COO of Goldman Sachs from 2004 to 2006, working under Henry Paulson. His career is closely linked to the success and growth of Goldman Sachs during a significant period in the financial industry.

Sections (2)

Full Timeline Career & Achievements

September 20, 1954: Lloyd Blankfein Born

On September 20, 1954, Lloyd Craig Blankfein was born. He would later become the senior chairman of Goldman Sachs.

Others born on this day/year

1971: Graduated from Thomas Jefferson High School

In 1971, Lloyd Blankfein graduated as valedictorian from Thomas Jefferson High School in New York City.

1975: Graduated from Harvard College

In 1975, Lloyd Blankfein graduated with an A.B. in history from Harvard College.

1978: Graduated from Harvard Law School

In 1978, Lloyd Blankfein received a J.D. degree from Harvard Law School.

1981: Goldman Sachs acquired J. Aron & Co.

In 1981, Goldman Sachs acquired J. Aron & Co.

1981: J. Aron & Co. Acquired

In 1981, J. Aron & Co., a small commodities trading firm, was acquired by Goldman Sachs.

1982: Joined J. Aron & Co.

In 1982, Lloyd Blankfein joined J. Aron & Co. as a precious metals salesman.

1994: Managed Currency and Commodities Divisions

From 1994 to 1997, Lloyd Blankfein managed Goldman's currency and commodities divisions.

1997: Managed Currency and Commodities Divisions

From 1994 to 1997, Lloyd Blankfein managed Goldman's currency and commodities divisions.

2004: President and COO of Goldman Sachs

In 2004, Lloyd Blankfein became the president and chief operating officer (COO) of Goldman Sachs.

2004: President and COO

In 2004, Lloyd Blankfein became the president and chief operating officer of Goldman Sachs.

May 30, 2006: Nomination of Henry Paulson

On May 30, 2006, U.S. President George W. Bush nominated Henry Paulson to serve as the 74th United States Secretary of the Treasury.

June 2006: Served as President and COO until June 2006

Lloyd Blankfein served as president and chief operating officer until June 2006.

July 2006: Chairman and CEO

In July 2006, Lloyd Blankfein was asked to serve as chairman and chief executive officer of Goldman Sachs.

2006: CEO of Goldman Sachs

In 2006, Lloyd Blankfein became the chief executive officer (CEO) of Goldman Sachs.

2006: Compensation Package in 2006

In 2006, Lloyd Blankfein's total compensation package was $54.4 million, making him the highest-paid executive on Wall Street. This included a base salary of $600,000 and a cash bonus of $27.3 million.

2007: Humbling Time for the Industry

In 2007, Lloyd Blankfein acknowledged that the period of 2007-2008 was a deeply humbling time for the financial industry and that the loss of public confidence would take years to rebuild.

2007: Donation to Hillary Clinton

In 2007, Lloyd Blankfein donated $4,600 to Democratic Party candidate Hillary Clinton.

2008: Financial Crisis

During the 2008 financial crisis, Goldman Sachs, under Lloyd Blankfein, dealt with financial products holding subprime mortgages and took advantage of low interest rates and diminished competition.

2008: Compensation Package

In 2008, Lloyd Blankfein received total compensation of $53.9 million.

April 7, 2009: Recommended Overhaul of Executive Compensation

On April 7, 2009, Lloyd Blankfein recommended guidelines to overhaul executive compensation, emphasizing the need for basic standards in the industry after the 2008 financial crisis.

2009: Financial Times Person of the Year

In 2009, Lloyd Blankfein was named Financial Times Person of the Year for his handling of Goldman Sachs during the financial crisis.

January 13, 2010: Testified Before Financial Crisis Inquiry Commission

On January 13, 2010, Lloyd Blankfein testified before the Financial Crisis Inquiry Commission, stating that Goldman Sachs was primarily a market maker, not a creator of subprime mortgage-related securities.

April 2010: Testified Before Congress

In April 2010, Lloyd Blankfein testified before a Senate subcommittee, stating that Goldman Sachs had no moral or legal obligation to inform clients they were betting against the products they were selling.

November 2011: Listed on Forbes Magazine's List of The World's Most Powerful People

In November 2011, Lloyd Blankfein was listed as #43 on Forbes Magazine's List of The World's Most Powerful People.

2011: Joined Twitter

In 2011, Lloyd Blankfein joined Twitter.

March 14, 2012: Greg Smith's Op-Ed

On March 14, 2012, Greg Smith, a former Goldman executive, published an op-ed in The New York Times titled "Why I Am Leaving Goldman Sachs", criticizing the firm's leadership and Lloyd Blankfein for prioritizing profit over client interests.

July 2012: Libor Scandal

In July 2012, the Libor scandal prompted Lloyd Blankfein to note that the general distrust of the financial world was worsened.

July 18, 2012: Aspirations to be desired

On July 18, 2012, after meeting with Barack Obama's chief of staff, Jack Lew, Lloyd Blankfein stated that he had aspirations to be desired when asked if he wanted to go into government.

2014: Salary and Bonuses

In 2014, Lloyd Blankfein earned US$24 million from Goldman Sachs.

July 2015: Estimated Net Worth

As of July 2015, Bloomberg News estimated Lloyd Blankfein's net worth to be US$1.1 billion.

2015: Donations to Republican Campaigns

In 2015, Lloyd Blankfein donated to the Senate re-election campaigns for Republicans Rob Portman and Roy Blunt.

2015: Salary and Bonuses

In 2015, Lloyd Blankfein received US$23 million in salary and bonuses.

January 2016: Corporate Greed

In January 2016, during the 2016 presidential election, presidential candidate Bernie Sanders named Lloyd Blankfein as an example of corporate greed.

2016: Estimated Earnings

According to the Financial Times, in 2016, Lloyd Blankfein earned an estimated $22.3 million.

June 1, 2017: First Tweet

On June 1, 2017, Lloyd Blankfein posted his first ever tweet, condemning President Donald Trump's withdrawal from the Paris Accord.

February 2018: New Hiring Priorities

In February 2018, Lloyd Blankfein instituted new hiring priorities at Goldman Sachs, focusing on candidates who were highly quantitative and technologically proficient.

March 9, 2018: Reported Departure

On March 9, 2018, The Wall Street Journal reported that Lloyd Blankfein would step down from leading Goldman Sachs by the end of the year.

March 15, 2018: Gender Parity Memo

On March 15, 2018, Lloyd Blankfein issued an internal memo advocating for gender parity among Goldman Sachs' workforce.

July 2018: Succession Announcement

In July 2018, it was announced that David Solomon would become CEO of Goldman Sachs on October 1, 2018, and chairman by the end of 2018, succeeding Lloyd Blankfein.

October 1, 2018: David Solomon to become CEO

It was announced in July 2018 that David Solomon would become CEO on October 1, 2018.

2018: Salary at Goldman Sachs

In 2018, Lloyd Blankfein's salary at Goldman Sachs was estimated to be $24 million.

2018: Stepped down as CEO of Goldman Sachs

Lloyd Blankfein served as CEO of Goldman Sachs until the end of 2018.

2019: Senior Chairman of Goldman Sachs

In 2019, Lloyd Blankfein assumed the role of senior chairman at Goldman Sachs.

March 2020: Coronavirus Response Measures

In March 2020, Lloyd Blankfein said that extreme measures to flatten the virus ‘curve’ were sensible ‘for a time’ but that they could crush the economy.

May 2020: Reopenings of the Economy

In May 2020, amid reopenings of the economy, Lloyd Blankfein said that the U.S. would have to suffer through a spike in coronavirus cases because the U.S. could not provide additional coronavirus-related stimulus.

April 2022: Disney's Special Status

In April 2022, Lloyd Blankfein argued that revoking Disney's special status due to the company objecting to Governor Ron DeSantis' view on Florida House Bill 1557 represents a form of government retaliation for "exercising free speech."