Early Life and Education
Lloyd Craig Blankfein was born on September 20, 1954, in the Bronx, New York, to a family of modest means. His father worked as a clerk for the U.S. Postal Service, and his mother was a receptionist. Blankfein grew up in the Linden Houses, a public housing project in Brooklyn. He excelled academically, graduating as valedictorian from Thomas Jefferson High School in 1971. He then attended Harvard College, earning a Bachelor of Arts in history in 1975, followed by a Juris Doctor degree from Harvard Law School in 1978.
Rise to Success
After graduating from law school, Blankfein worked briefly as a corporate tax lawyer. In 1982, he joined J. Aron & Co. as a precious metals salesman, which was later acquired by Goldman Sachs. Blankfein's career at Goldman Sachs advanced rapidly. He became a partner in 1988 and played a key role in developing the firm's foreign exchange business. He headed the currency and commodities divisions from 1994 to 1997. He was named president and chief operating officer in 2004 and succeeded Henry Paulson as chairman and CEO in July 2006.
Key Business Strategies
As CEO of Goldman Sachs, Blankfein oversaw the firm during the 2008 financial crisis. During his tenure, Blankfein focused on client service and risk management. He helped the firm secure a critical $5 billion investment from Warren Buffett during the crisis, which helped stabilize the firm. Blankfein also launched initiatives such as "10,000 Women" (2008) and "10,000 Small Businesses" (2010) to support economic opportunities.
Philanthropy
Blankfein has been involved in philanthropy throughout his career, alongside his wife, Laura Jacobs, and their three children. He served on the board of directors for the Partnership for New York City and the board of overseers of the Weill Cornell Medical College. From 2000 to 2009, he personally donated $11 million to charitable organizations. The Lloyd and Laura Blankfein Foundation has supported Harvard Law School, the Ethical Culture Fieldston School, and the Robin Hood Foundation, among others.
