Early Life
Lloyd Craig Blankfein was born on September 20, 1954, in the Bronx, New York City. He was raised in the Linden Houses, a public housing project in Brooklyn. His father was a postal worker, and his mother worked as a receptionist. Blankfein attended Thomas Jefferson High School, where he graduated as valedictorian in 1971. He received an academic scholarship to Harvard University, earning a bachelor's degree in history in 1975 and a J.D. from Harvard Law School in 1978.
Rise to Success
Blankfein's career began as a corporate tax lawyer. In 1982, he joined J. Aron & Co., a commodities trading firm, which was acquired by Goldman Sachs in 1981. He became a partner at Goldman Sachs in 1988 and was named co-head of the J. Aron subsidiary in 1994. By 2002, he was head of all sales and trading. In 2004, Blankfein was appointed President and COO of Goldman Sachs, and in 2006, he succeeded Henry Paulson as Chairman and CEO.
Key Business Strategies
As CEO, Blankfein transformed Goldman Sachs into a bank holding company during the 2008 financial crisis, giving it access to Federal Reserve credit and regulatory oversight. He implemented new hiring priorities and advocated for gender parity. He also oversaw the firm's growth, making it one of the most successful investment banks.
Philanthropy
Blankfein, along with his wife, Laura Jacobs, has been involved in philanthropic endeavors. The Lloyd and Laura Blankfein Foundation has donated an average of $1.3 million annually to various organizations, including the UJA Federation. Blankfein also serves on the boards of the Partnership for New York City and the Weill Cornell Medical College.
