BRIEF BIOGRAPHIES OF FORTY-SEVEN CAPITALIST CLASS CFR DIRECTORS WITH DATES OF SERVICE
Chapter One of Wall Street’s Think Tank: The Council on Foreign Relations and the Empire of Neoliberal Geopolitics 1976-2014 discusses the CFR’s top leadership. Below are brief biographies of other members of the capitalist class who also served as directors of the Council. This illustrates that much of the lower level leadership of the Council is also dominated by members of the capitalist class.
Peter Ackerman 2005-Present
Dr. Peter Ackerman (he earned a Ph.D. from the Fletcher School of Law and Diplomacy), began his financial career working with Michael Milken in the firm of Drexel Burnham Lambert. Ackerman was the Director of International Capital Markets, and became wealthy while at Drexel. Now he is managing director of Rockport Capital, a private venture capital firm specializing in “clean”/“green” tech investments. He is also a key organizer of Americans Elect, a “non-partisan” political organization hosting the first online presidential primary in U.S. history. Americans Elect considered fielding a ticket for the 2012 presidential election based on this internet nomination process, but failed to find a prominent candidate. Ackerman is a main fundraiser for this organization, reportedly donating $5 million of his own money to it. Not surprisingly, CFR leaders like Carla A. Hills, Christine Todd Whitman and Richard Salomon were on the leadership list for Americans Elect issued in December, 2011, a list which also includes a number of other CFR members. The existence of Americans Elect and its prominent supporters, indicates some level of dissatisfaction by some elements of the capitalist class with the candidates and program put forward by the two main capitalist parties, a discomfort still too weak to result in a major break with these two parties, but worth watching.
Madeleine K. Albright 2004-Present
Dr. Albright was Secretary of State during the latter part of the Clinton Administration. She is the daughter of a Czechoslovakian diplomat and also gained privilege and wealth through marriage. She began her career as a journalist, later marrying Joseph Albright, the scion of the Medill-Patterson-McCormick newspaper dynasty, once key owners of the New York Daily News, Newsday and the Chicago Tribune. Despite having three children, she had the time and resources to go to graduate school, eventually earning a PhD. She then worked in the Carter Administration, became a Council member and helped Bill Clinton become a CFR member as well. She worked on the foreign policy teams for the losing campaigns of both Walter Mondale (1984) and Michael Dukakis (1988), and the winning campaign of Clinton. Clinton chose her as his first U.N. delegate, then as his second Secretary of State, the first woman to ever hold that position.
As of 2014, Albright was chair of the Albright Stonebridge Group, a global strategy firm she founded with fellow CFR members Samuel Burger, (a former National Security Adviser) and Warren Rudman (a former Senator). Like other similar CFR linked organizations, such as Hills and Company and Kissinger and Associates, Stonebridge trades on the extensive contacts of its three principals and offices worldwide to convince corporations to hire them to help penetrate foreign markets, especially in the rapidly developing BRIC nations, as well as in Africa and Southern Europe.
Robert O. Anderson 1974-1980
Anderson graduated from the University of Chicago, then borrowing money from his banker father to purchase an oil refinery in New Mexico. He went on to build a pipeline system and began to speculate in oil field property and small oil companies in the U.S. southwest. He eventually merged his holdings into Atlantic Refining Company that then joined with Richfield to form ARCO. Anderson, a large stockholder in the corporation, soon became chair of ARCO. He also purchased vast tracts of ranch and other land in Texas and New Mexico (over 2000 square miles), becoming one of the largest landowners in the U.S. As early as 1987 his wealth was already estimated to be about $200 million (Allen 1987:311).
Michael Blumenthal 1972-1977 and 1979-1984
Blumenthal was educated at the University of California Berkeley and Princeton University, where he received his Ph.D. He served in the State Department under Presidents Kennedy and Johnson for most of the 1960s. Entering the corporate world, he became president and chair of Bendix International Corporation from 1967-1977. President Carter appointed him as his first Secretary of Treasury in 1977. Once out of the government, Blumenthal became chair of first Burroughs Corporation, then, following a merger, of Unisys Corporation until his retirement in 1990.
Tom Brokaw 2005-Present
For over twenty years Brokaw was managing editor and anchor for the NBC Nightly News, prior to that he anchored the Today program. He remains a special correspondent for NBC News. He is an author (The Greatest Generation) and has received numerous awards for his journalistic work. Brokaw’s salary as an evening news anchor has allowed him to accumulate an estimated $70 million.
John E. Bryson 1992-2002
Bryson received his B.A. from Stanford, and law degree from Yale. He became chair, CEO and president of Edison International, the parent company of Southern California Edison Co. He was also a director of Boeing, The Walt Disney Co., Keck Foundation and Western Asset Management. He was a trustee of Stanford, Cal Tech and co-chair of CFR’s west coast affiliate, the Pacific Council on International Policy. In 2011 he was appointed by President Obama to be Secretary of Commerce.
Sylvia Mathews Burwell 2007-2013
Educated at Harvard and as a Rhodes scholar at Oxford, she worked for McKinsey, the management-consulting firm, then served in the Clinton administration in various positions, including deputy director of the Office of Management and Budget, assistant to the president, and chief of staff to Secretary of the Treasury Robert E. Rubin. She joined the Bill and Melinda Gates Foundation in 2001, serving as chief operating officer and executive director from 2002 to 2006, when she became president of the foundation’s global development program. She left the foundation to become president of the Walmart Foundation. She was also on the board of directors of MetLife. In 2013 she became President Obama’s Director of the Office of Management and Budget, then in 2014 the president appointed her as the Secretary of Health and Human Services.
George H.W. Bush 1977-1979
On both his mother’s and father’s side, George Herbert Walker Bush is a descendent of wealthy finance capitalists, his father, Prescott was a partner in Brown Brothers Harriman and his grandfather, George Herbert Walker, had his own investment company, G.H. Walker & Co., and was also the director of almost a dozen other corporations. His father, elected to the U.S. Senate from Connecticut in the early 1950s, was a director of CBS, Dresser Industries and Union Banking Corporation, and had at least five homes, including at Kennebunkport, Maine, and one on a 10,000 acre plantation in South Carolina. George went to Phillips Academy and Yale, where he was a member of the secret society Skull and Bones.
Born into wealth, Bush had the capital to found his own Texas oil company, Zapata Petroleum, making millions prior to entering electoral politics. He was defeated in a race for the U.S. Senate, but was elected to Congress. Presidents Nixon and Ford named him Ambassador to the United Nations, envoy to China and Director of the CIA. An early member of the CFR, he quit his role as a Council director to run for president. Elected vice president to President Reagan, Bush served eight years, then was elected president in his own right in 1988, serving until his defeat by Bill Clinton in the 1992 election.
Frank J. Caufield 2006-2010
Caufield is a co-founder of the California based venture capital firm Kleiner Perkins Caufield & Byers. He has an MBA from Harvard and has served on the boards of Time-Warner and other corporations. He is a major donor to Democratic Party causes.
Richard B. Cheney 1987-1989 and 1993-1995
Cheney attended Yale but flunked out, eventually receiving his B.A. as well as an M.A. in political science from home university, the University of Wyoming. When Richard Nixon was elected president, Cheney went to Washington, D.C., and was able to get a position as a staffer, meeting and making alliances with people like Donald Rumsfeld, and serving in a variety of positions in the Nixon and Ford Administrations. He rose to chief of staff for Ford and was also manager of Ford’s losing 1976 presidential campaign. He was then elected to Congress from his home state of Wyoming, and served over ten years, quitting to serve as George H. W. Bush’s Secretary of Defense from 1989-1993. He was then brought into Halliburton as chair and CEO, serving from 1995-2000. Upon his retirement for this job to run for vice president The New York Times (August 12, 2000) reported that he received a $20 million retirement package from the firm. As George W. Bush’s vice president from 2001-2009, Cheney was often said to be the one actually in charge, the real wielder of power. Whatever the full truth, it appears clear that Cheney was the most active and powerful vice president in recent times, perhaps in all of American history.
William S. Cohen 1989-1997
Educated at Bowdoin College and Boston College, Cohen was elected to the House and Senate from Maine, serving a total of 24 years in the legislature. After Cohen left the Senate, Bill Clinton nominated him to be Secretary of Defense, a position Cohen served in until 2001. In that same year Cohen formed The Cohen Group, a business consulting and lobbying firm, which works for top military-industrial complex corporations, providing access and advise to help them prosper in the competitive world of government contracting. He also joined CBS as a director, receiving $295,534 in salary and stock options from that firm in 2013 alone.
William J. Crowe Jr. 1990-1993
An expert in geopolitics, Crowe was a U.S. Admiral who served as the chair of the Joint Chiefs of Staff under Reagan and Bush I. He earned an MA and Ph.D. in political science from Princeton, and was appointed U.S. Ambassador to the U.K. by Bill Clinton. He sat on the boards of Texaco, Merrill Lynch, General Dynamics, Pfizer and Norfolk Southern.
Lloyd N. Cutler 1977-1979
A Yale educated lawyer, Cutler began his legal career at the Wall Street firm of Cravath, Swaine and Moore. In 1962 he helped found his own firm of Wilmer, Cutler and Pickering. His firm eventually employed over 500 lawyers lobbying for some of the world’s most powerful corporations and interest groups, IBM, ABC, CBS, Cigna as well as the Automobile Manufacturers Association, and the Pharmaceutical Research and Manufacturers of America. A Democrat, he took leave from his law career to serve as Counselor to the President to both Carter and Clinton.
Peggy Dulany 1995-2003
Dulany is one of David Rockefeller’s daughters. Her career has been in philanthropy, a family specialty. Her presence among these other CFR capitalist class leaders as a director of the CFR indicates that the long time tendency to appoint directors with close ties to the top leadership continues, except that the “old boys network” has expanded to include women.
Laurence D. Fink 2013-Present
Fink is the founder and chief executive of BlackRock, the world’s largest money-management firm, with $4.3 trillion under management. The Financial Times stated in April 2014 that Fink is “…arguably the most respected figure in U.S. finance today and BlackRock is the largest investor in many public companies” (Financial Times April 7, 2014:1). Fink is reported to be increasingly in demand in China, Europe and the Middle East for his insight into global financial matters. Fink was paid $23.6 million by BlackRock in 2010 alone (The Wall Street Journal May 8, 2011).
Steven Friedman 2007-Present
A retired chair of both Goldman-Sachs (he still remains on the board of directors of that company), and the Federal Reserve Bank of New York, Friedman is currently chair of the investment firm Stone Point Capital. He was the director of the National Economic Council and an assistant to the president during the first administration of George W. Bush. He is a trustee of Aspen Institute and a former director of Wal-Mart and Fannie Mae. He has headed up the finance and budget committee of the CFR board.
Ann M. Fudge 2006-Present
A Harvard Business School grad, Fudge went on to become first the President of a major unit of Kraft Foods, then chair and CEO of Young & Rubicam Brands, part of a global network of advertising/communication companies. She also serves on the board of directors of General Electric, Novartis and Unilever. She is vice chair of the Harvard Board of Overseers, and on the advisory board or a trustee of The Gates Foundation, the Rockefeller Foundation and the Brookings Institution.
Richard L. Gelb 1979-1988
Gelb was the son of a chemical manufacturer and went to Phillips Academy. He became a director of Bristol-Myers Squibb Corporation beginning in 1960, moving up to President (1967), CEO (1972) and Chair (1976). He was also a director of New York Life Insurance, The New York Times Company and the Federal Reserve Bank of New York.
Louis V. Gerstner Jr. 1995-2005
Gerstner was a Dartmouth College graduate who went on to earn an MBA at Harvard. He spent a decade at American Express, then became Chair and CEO at RJR Nabisco. His next top corporate position was as Chair and CEO at IBM from 1993-2002. Following his retirement from that company, he became Chair of the Carlyle Group, private equity investments. In 2002 Forbes estimated his wealth at $630 million.
Alan Greenspan 1982-1988
Greenspan is another case, like Henry Kissinger (see below) of an intellectual (he has a Ph.D. from New York University) who worked at a high level in the federal government, operated his own consulting business, and also served on the boards of directors of numerous leading corporations. For over thirty years, Greenspan was chair and president of Townsend-Greenspan & Co. an economic consulting firm. His work for his firm was interrupted first during 1974-1977 when he was chair of the Council of Economic Advisers in the Ford Administration, then from 1987-2006 when he chaired the Federal Reserve Board. He was serving on the CFR board when he was tapped to head the Fed. In this latter role especially, he had an important influence in the rise of neoliberalism. After leaving the Fed, he again headed his own company, Greenspan Associates LLC. During his career he has served on the board of directors of the following corporations: Alcoa, Automatic Data Processing, Capital Cities/ABC, General Foods, J.P. Morgan, Morgan Guaranty Trust, Mobil and The Pittston Co. Beginning in 2008 he has had an exclusive contract to advise the billionaire hedge fund run by CFR member John Paulson.
Peter B. Henry 2012-Present
Born in Jamaica, Henry became U.S. citizen in 1986, was a Rhodes Scholar at Oxford, England and earned his Ph.D. in economics from MIT in 1997. As a Stanford University professor, he was also a National Fellow at the Hoover Institution in 2000-2001. He applied for and was elected to CFR membership in 2008. He is now the dean of New York University’s Stern School of Business and also a professor of economics and finance at that institution. A supporter of Barack Obama, he has served in several roles in Obama’s presidential campaigns and government. In 2011 Dr. Henry was asked to join the board of directors of Kraft Foods. Kraft’s CEO stated that he was tapped due to “his expertise in emerging markets and understanding their role in driving growth in the global economy.” Part of that expertise has been used by Caribbean governments, and Henry helped establish the foundations for the first stock market in the Eastern Caribbean.
J.Tomilson Hill 2008-Present
Hill’s entire career has been as a finance capitalist, with First Boston, Smith Barney, Lehman Brothers and, since 1993, with the Blackstone Group, where he is now a board member and vice chair. Hill is the CEO of Blackstone’s alternative asset management sector and its funds of hedge funds unit, building up Blackstone’s hedge fund business (Financial Times February 25/26, 2012:10). Blackstone had $166 billion assets under management as of the end of 2011. Hill has also served on the finance and budget committee of the CFR board. His wife, Janine Hill, is also a CFR member and works for the organization, serving in the studies program as director of fellowship affairs and studies strategic planning (CFR 2013:78).
James R. Houghton 1992-1996
Houghton’s family made its fortune in the glass business, and James R. Houghton was a long time chairman and CEO of the family owned company, Corning Glass Works. Listed in the Social Register, he has been a board member of ExxonMobil and MetLife, both corporations considered close to the Rockefeller empire. A 1987 study estimates the family fortune at over $450 million (Allen 1987:342).
Helene L. Kaplan 1994-1996
A corporate lawyer, she became a director of a number of leading corporations, including Mobil Oil, Exxon Mobil, Bell Atlantic, J.P. Morgan Chase, Metropolitan Life, Verison, and May Department Stores.
Nicholas deB. Katzenbach 1975-1986
Katzenbach attended Phillips Exeter Academy and Princeton, then Yale Law School and Oxford University as a Rhodes Scholar. He married Lydia King Phelps Stokes, whose father had been President Hoover’s Secretary. A Democrat, he served first in Kennedy’s Justice Department, before becoming President Lyndon Johnson’s Attorney General and Under Secretary of State. After JFK’s assassination, Katzenbach was involved, with J. Edgar Hoover of the FBI, in setting up the Warren Commission to investigate the murder of the president, arguing that the task was to “… convince the public that Oswald is the real assassin.” After leaving the government he became a vice president and general counsel for IBM, serving from 1969-1985 in that role. He was later chair of the Bank of Credit and Commerce International and also chair of MCI Communications.
Muhtar Kent 2012-Present
Kent began his career with Coca-Cola in 1978. After holding a variety of positions developing Coke’s business abroad, including as Senior Vice President of Coca-Cola International and as President for the North Africa, Eurasia and Middle East Group, he became Chair and CEO in 2009. He was paid $19.2 million in 2010 alone, the same year he was voted in as a CFR member.
Henry Kissinger 1977-1981
Kissinger was not rich or well-born, he began his career as a professional, useful to the capitalist class due to his intellect and willingness to serve the powerful. He worked at the CFR in the late 1950s and made key connections at that time. Then he was a university professor (Harvard Ph.D., and a professor at that institution), and government official (a key U.S. foreign policy figure from 1969-1977). Since 1982 his main activity has been building Kissinger Associates, a high level consulting business. By all indications, he has done very well at this business, and has likely accumulated many millions of dollars of assets. Estimates of his net worth range from $10 to $185 million. Kissinger Associates, known from 1999-2008 as Kissinger-McLarty Associates (Mack McLarty, Clinton’s White House Chief of Staff, joined the firm in 1999, but quit in 2008), assists corporate and wealthy clients by locating and implementing both investment opportunities and strategic partners. It also advises clients on government relations worldwide. The firm is known for its secrecy and it refuses to reveal its client list. It is known, however, that Kissinger/Kissinger-McLarty Associates have had strategic partnerships with the Blackstone Group (private equity), the corporate law firm Covington & Burling, APCO Worldwide (communications), and Hakluyt (a British strategic intelligence firm). Kissinger himself has been a director of these top corporations: American Express (finance), American International Group (insurance), Freeport-McMoRan (mining) and Hollinger (media). He has also served as the chair of Chase Manhattan Bank’s International Advisory Committee.
Henry Kravis 2006-2012
Kravis is co-CEO and Co-Chair of Kohlberg Kravis Roberts and Co., a private equity firm that pioneered the management buyout. He was a partner at Bear Stearns when he and his two partners formed KKR. A billionaire, he also took home $94 million in 2011 as his share of dividend payments and share of investment profits, according to the Financial Times (February 28, 2012:15). Kravis has also served on a number of corporate boards, including RJR Nabisco, Safeway, Gillette, Borden and Owens-Illinois. His non-profit boards include Rockefeller University, Columbia Graduate School of Business, Public Television and the Metropolitan Museum of Art.
Peter McColough 1978-1987
Founder, chair and CEO of Xerox Co., he also served on the board of directors of the Bank of New York, Citibank, Wachovia and the New York Stock Exchange.
Ronald L. Olson 2001-2010
Olson is a partner in the prominent Los Angeles law firm of Munger, Tolles & Olson. He chairs the board of trustees of the RAND Corporation and is a director of Berkshire Hathaway, Edison International City National Corporation and Washington Post Company. He was educated at Drake University, University of Michigan and Oxford University.
James W. Owens 2006-Present
Owens graduated with a Ph.D. in economics from North Carolina State University in 1973, immediately joining Caterpillar as an economist. He held numerous management positions on his way to becoming chair of the company in 2004, a position he still holds as this is written in late 2012. He is chair of the Business Council, a director of IBM, Alcoa, the Peterson Institute for International Economics and a member of Obama’s Economic Recovery Advisory Board. Forbes reported that he was paid $43.18 million for the five-year period 2005-2010, and owns at least $22.2 million worth of stock in Caterpillar.
Colin M. Powell 2006-Present
A military officer most of his life, rising to a four star U.S. Army General, Powell was educated at the City College of N.Y. with an MBA from George Washington University. During the U.S. war in Vietnam, Powell was a “gung ho” young officer. Part of the team investigating the My Lai Massacre, Powell was accused of a cover up, since he argued that relations between U.S. soldiers and the Vietnamese people were “excellent.” A Republican, he became Reagan’s National Security Adviser, head of the Joint Chiefs of Staff for Bush I and Secretary of State for Bush II. In the latter capacity, Powell helped build the case for the U.S. invasion of Iraq. After he left the Bush II Administration, he joined the Silicon Valley venture capital firm of Keiner, Perkins, Caufield and Byers as a “strategic limited partner.” In early 2001, The New York Times reported that Powell had a net worth of over $28 million, mainly from speaking engagements (The New York Times January 18, 2001). In 2014 he became a director of Salesforce.com.
Penny Pritzker 2009-2013
Pritzker is a Chicago based billionaire, (her net worth was estimated at $1.4 billion by Forbes in 2010), whose wealth comes mainly from the Hyatt Hotel chain, which her extended family controls. She is President and CEO of Pritzker Reality Group, sits on the board of Hyatt Hotels, and serves on President Obama’s Economic Recovery Advisory Board. During the 2008 campaign, she was Obama’s chief fundraiser, chairing his fundraising committee. She was elected a CFR director the next year. She gives mostly to Democrats, but also contributed to George W. Bush in 2003 and John McCain in 2000. In September of 2011 her Hyatt Hotel was called “the most abusive employer in the industry” by a Local 2 hotel union spokesperson in San Francisco, citing injuries to employees and attempts to outsource jobs to new workers at minimum wage and no benefits (The San Francisco Examiner September 9, 2011:5). There is now a worldwide boycott by unionized hotel workers of Hyatt, which is rapidly expanding abroad. In 2013 she was installed as Obama’s Secretary of Commerce, likely at least partly as a payoff for her fundraising for Obama.
John S. Reed 1989-1992
A listee in the Social Register, Reed made his career in finance as chair and CEO of Citicorp, Citibank, Citigroup and as chair of the New York Stock Exchange.
Alice Rivlin 1989-1992
She received her Ph.D. at Harvard’s Radcliffe College. Most of her career has been as a budget specialist with the Brookings Institution, with periods in government as director of the Congressional Budget Office and Office of Management and Budget. She has also served as a governor and is now vice chair of the Federal Reserve. She has also been off and on a number of corporate boards, including Bearing Point, The Washington Post Company, the New York Stock Exchange, Union Carbide, Unisys, and Ryder.
William D. Rogers 1980-1990
Educated at Princeton and Yale Law School, he served in the Department of State during the Ford Administration. As associate of Henry Kissinger, he was a founding member of Kissinger Associates in 1982 and served as Vice Chair from 2004 until his death from a heart attack while on a fox-hunt in 2007. He was also part of the corporate law firm of Arnold, Fortas and Porter.
Robert Roosa 1966-1981
Roosa became a partner of the “old money” Wall Street investment firm of Brown Brothers Harriman beginning in 1965 (until 1991), after serving in John F. Kennedy’s Treasury Department. He was also a trustee of the Rockefeller Foundation, Chairman of the Brookings Institution, and a member of the Trilateral Commission.
Diane Sawyer 1998-1999
Sawyer, the daughter of a Kentucky Republican politician and judge, was educated at Wellesley College. She began her career in the Nixon Administration in 1970, reportedly becoming a close personal friend of the president. After he left office in disgrace, she spent four years (1974-1978), working with Nixon, helping him write his memoirs. In 1978 she was hired by CBS as a political correspondent, working on CBS Morning News and 60 Minutes. She moved to ABC in 1989, co-anchoring Good Morning America and, since 2009, the ABC World News. In 2006 Forbes reported that Sawyer’s annual salary was $12 million, illustrating that rapid mobility into the capitalist class frequently takes place at the higher levels of some professions.
Brent Scowcroft 1983-1989
Scowcroft earned an MA and a Ph.D. in international relations at Columbia, and was a Lt. General in the Air Force. He was an assistant to Kissinger during the Nixon Administration, and was National Security Adviser to President Ford. In 1982 he helped form Kissinger Associates, serving as vice chair. George H.W. Bush brought him back into the government as his National Security Adviser, and he was the chair of the Foreign Intelligence Advisory Board during the Bush II years. He supported the Afghanistan invasion, but was a critic of the U.S. invasion of Iraq. Besides the CFR, he is active in an unusual number of private policy planning groups, among them the Atlantic Council, the Aspen Strategy Group, the Trilateral Commission, and the Center for Strategic and International Studies. He is on the board of Qualcomm, a top 500 corporation. In 2014 it was reported that he sold stock worth $3.8 million during one recent three year period.
George Pratt Shultz 1980-1982
Shultz’s father Birl was the founder and director of the New York Stock Exchange Institute. George Pratt Shultz was a graduate of the Loomis Chaffee School, a leading private preparatory boarding school. He went on to Princeton, then on to MIT, earning a Ph.D. Following work as an economics professor and Dean of the Chicago Graduate School of Business, he was Nixon’s Secretary of Labor and Secretary of the Treasury. Later he was one of Reagan’s Secretaries of State. His business career included service as President and a director of the Bechtel Group, Chair of J.P.Morgan Chase’s International Advisory Board, and on the board of Charles Schwab Co. He is also a fellow at the Hoover Institute at Stanford. In 1997 he married Charlotte Smith Mailliard Swig, a prominent San Francisco socialite and heiress in the San Francisco Bay Area’s “wedding of the year.”
Theodore C. Sorensen 1993-2004
Sorensen’s main claim to fame is his long time service to John F. Kennedy as an aide and speechwriter. After he left the government in 1965, he had an even longer career as a lawyer and partner at the major law firm of Paul, Weiss, Rifkind, Wharton and Garrison, where he was “of counsel.” He wrote the book Kennedy and stayed involved in Democratic Party politics.
George Soros 1995-2004
Soros is known as the “man who broke the bank of England” due to his success in speculating on the devaluation of the British pound in September of 1992. He made over $1 billion on this one bet and his hedge fund, Soros Fund Management has been in the first rank of hedge funds world wide ever since. Since then Soros and his “investment” funds have continued to be very successful, and his personal net worth was estimated to be $22 billion by Forbes in 2011. Critics of the negative effects of hedge fund investing include Princeton University Professor Paul Krugman, who states “… there really are investors who not only move money in anticipation of a currency crisis, but actually do their best to trigger that crisis for fun and profit. These new actors on the scene do not yet have a standard name; my proposed term is ‘Soroi’” (Krugman 1998:160).
Soros has been a very generous donor to anti-communist as well as liberal, Democratic Party linked causes like Moveon.org and the Center for American Progress think tank. He became a Council member in 1988 and has at least two close relatives that are also members.
Laura D’Andrea Tyson 1997-2007
Tyson has followed a three-part career: academic, in the federal government, and service on a number of corporate boards. She was educated at Smith College and earned her Ph.D. in economics at MIT. She has been a professor at the Haas School of Business at the University of California, Berkeley and a Dean at that school. She was chair of the Council of Economic Advisers for Bill Clinton. She has been a senior adviser for McKinsey and served on a number of corporate boards, including ATT, Morgan Stanley, Eastman Kodak, Silver Spring Networks and CB Richard Ellis. Forbes reported that her earnings from just the first three of these corporations for only the 2006-2010 period amounted to almost $3 million.
Margaret G. Warner 2012-Present
Warner grew up in the wealthy suburb of Chevy Chase, Maryland. His father is a partner in a Washington law firm and one of her great grandfathers founded Washington Loan and Trust. She graduated from the exclusive private Holton-Arms School, whose alums include Brooke Astor and Jacqueline Kennedy Onassis. After graduating from Yale University, Warner began her journalist career as a reporter for The Wall Street Journal and other print media. She spent a decade (1983-1993) at Newsweek, and was their chief diplomatic correspondent, reporting from Europe, Asia and the Middle East. She joined the Public Broadcasting Service’s NewsHour in 1993, specializing in foreign reporting. She applied for and was accepted as a CFR member in 2003. She also became a member of the governing board of Yale University in 2006.
Christine Todd Whitman 2006-Present
One of Whitman’s grandfathers was vice president at the Rockefeller controlled Chase Bank. She attended the Chapin School in Manhattan, and graduated from Wheaton College with a political science major. Once out of college, she worked in Nelson Rockefeller’s 1968 presidential campaign. She is married to John R. Whitman, a venture capitalist investor and president of Sycamore Ventures. A graduate of Yale and Harvard, he has been a vice president of Citicorp and an adviser to Ford Motor, ATT and Prudential Securities.
She ran for public office, at first unsuccessfully, but was eventually elected Governor of New Jersey, serving two terms, 1994-2001. A “moderate” Republican, she was selected to head the EPA by George W. Bush, holding office for the period 2001-2003. She reportedly resigned after Vice President Cheney ordered her to relax air quality standards so big polluters could avoid installing air pollution controls, thereby allowing corporate profits to increase. At first she cited family reasons for leaving, but years later admitted the truth in an interview. After leaving the EPA, she formed her own energy and environmental consulting company, the Whitman Strategy Group, and was asked to join the boards of two major corporations, Texas Instruments and United Technologies. Forbes reports that she was paid at least $1.96 million by these two companies during the 2005-2010 years alone. She also serves on the board of Americans Elect.
Walter B. Wriston 1981-1987
Wriston was chair and CEO of Citicorp 1967-1984. He was widely regarded as one of the most influential commercial bankers of his time. He was offered the job of Secretary of the Treasury twice, by both Presidents Nixon and Ford, but declined both times, preferring his corporate position. He had an important role in the rise of neoliberalism, discussed in Chapter 5.
Robert B. Zoellick 1994-2001
A graduate of Harvard Law School, Zoelick’s career has been with the Treasury and State Departments where he served both Bushes, as well as with quasi-government bodies like Fannie Mae. A Republican neo-conservative, he was also U.S. trade representative before George W. Bush appointed him as head of the World Bank. While his main career has been with government, he also worked in the financial private sector as managing director, and vice chairman international at Goldman-Sachs as well as on the international advisory board of the Rolls-Royce Group. Zoellick was a member of the far-right Project for the New American Century and signed that group’s 1998 letter to President Clinton advocating for a war on Iraq. He was one of Mitt Romney’s key foreign policy advisers. In 2014 he became chairman of Goldman-Sachs international advisers.
BRIEF BIOGRAPHIES OF SEVENTEEN PROFESSIONAL CLASS CFR DIRECTORS WITH DATES OF SERVICE
Most of these professionals are academics, a few are journalists or think tank officials. Together, they illustrate the importance of intellectuals to the work of the CFR. In the future, some many be invited to join a top corporate board and begin to receive the high pay that will allow them to move into the ranks of the capitalist class.
John P. Abizaid 2010-Present
Abizaid is a West Point graduate who went on to become a four star general before retiring after 34 years of service in 2007. He was commander of the U.S. Central Command, overseeing operations in a 27-nation region, including much of the Middle East. He also earned a M.A. degree at Harvard and was Commandant of the U.S. Military Academy at West Point. After he retired he was employed as a fellow at the Hoover Institute at Stanford University.
Fouad Ajami 2002-2012
Born in Lebanon, Ajami arrived in the U.S. just before turning 18. He earned a Ph.D. in international relations and politics from the University of Washington. He has been a professor at Princeton and continues to teach at John Hopkins. A strong supporter of the U.S. invasion of Iraq, he was an adviser to Condoleezza Rice and his views were often quoted favorably by Vice President Richard Cheney during the war and occupation years. He has written a number of books, including The Foreigner’s Gift (2006) about the U.S. in Iraq. He also sits on the Board of Advisers for Foreign Affairs.
Graham T. Allison Jr. 1979-1988
Allison is a Harvard political scientist, who earned his degrees at Harvard and Oxford. He is an expert on bureaucratic decision-making, as well as U.S. national security issues. He has been a consultant at the Defense Department. He is perhaps best known for his book Essence of Decision (1971), on the Cuban Missile Crisis.
Alan Blinder 2008-Present
Considered “one of the great economic minds of his generation,” Blinder is a Princeton professor who has served in the government– on Clinton’s Council of Economic Advisers and as vice chairman of the Federal Reserve. A strong proponent of free trade, he has written a number of books, as well as journalistic pieces for mainstream newspapers like The New York Times, Washington Post and The Wall Street Journal. In 2015 he became a key economic adviser to Hillary Clinton in her run for the White House.
Harold Brown 1983-1992
Brown earned his Ph.D. in physics at Columbia, going on to do weapons research at the University of California, Berkeley’s Lawrence Livermore Labs. He went into the “Defense” Department to continue such work from 1961-1969. He then served as President of the California Institute of Technology (1969-1977). President Jimmy Carter appointed him to be Secretary of Defense, and he served in that post 1977-1981. He was then a professor at Johns Hopkins University.
Pamela Brooks Gann 2010-Present
Educated at the University of North Carolina, with a law degree at Duke, She taught international economic law and international trade at Duke. She was a Dean at that university when offered her current post as President of Claremont McKenna College in Southern California.
Nicholas Burns 2013-Present
Burns has been a diplomat, having served as both the U.S. representative to NATO and as undersecretary of state during the Bush II administration, as well as an academic at Harvard’s Kennedy School of Government. He has also been active in both the non-profit world as a member of the Trilateral Commission and the Aspen Strategy Group, and the profit making sector as a strategic advisor working with The Cohen Group.
Stanley Hoffmann 1983-1992
Born in Austria, Hoffman immigrated to the U.S. from France in 1955, when he began teaching at Harvard. He became the head of Harvard’s Center for European Studies. He is the author of many works on foreign policy and international relations, including Gulliver’s Troubles (1968); World Disorders (1998, 2000) and Gullivar Unbound (2004).
Jeane J. Kirkpatrick 1985-1994
Kirkpatrick was a professor of government tapped by President Reagan to serve as Ambassador to the United Nations. A neo-conservative, she also became a fellow of the American Enterprise Institute after leaving the government. In 1995 she expressed her appreciation of the Council by saying that it was “… unique in its scope and the level of expertise and experience that members share … the Council tends to be liberal. I think that it’s less so than it used to be and less so than a lot of people think” (CFR 1995:54).
Joseph S. Nye Jr. 2004-Present
Considered one of the most influential scholars in the field of international relations, Nye was educated at Princeton and a Rhodes Scholar at Oxford, and received his Ph.D. in Political Science at Harvard. He was hired as a Harvard professor and became Dean of the John F. Kennedy School of government. He is the author of numerous works, including Soft Power (2004) and The Future of Power (2001). He has also served on the editorial board of Foreign Affairs.
Lucian W. Pye 1966-1982
Born in China to Congregational missionaries, Pye was educated at Carleton College and Yale. He became a political science professor at MIT specializing in China. He was an early proponent of the U.S. war in Vietnam. Wrote Asian Power and Politics (1985) with his wife Mary.
Charles McC. Mathias Jr. 1986-1992
Educated at Yale and University of Maryland Law School, McC. Mathias was a liberal Republican member of the House of Representatives and U.S. Senate representing Maryland. He served twenty-six years in the House and Senate.
Robert A. Scalapino 1982-1989
Scalapino was a University of California and Harvard trained political scientist who was a long time professor at the University of California, Berkeley. During the U.S. war in Vietnam, Scalapino, whose expertise was in East Asian affairs, was a strong defender of the war against the anti-war U.S. peoples movements so active during this era. The volume of his scholarly work was impressive, 39 books and monographs and no less than 540 articles. He also edited a scholarly journal, Asian Survey, and was a founder and the first chair of the National Committee on U.S.-China Relations.
Anne Marie Slaughter 2003-2009
Slaughter was head of policy planning at Obama’s Department of State 2009-2011. She was educated in law and politics at Princeton, Harvard and Oxford. She supported the Iraq war, arguing that is was “legitimate.” She was a Dean of Woodrow Wilson School at Princeton, then moved on to become a professor of politics and international affairs at that university.
Strobe Talbot 1988-1993
Talbot attended Hochkiss School and Yale, becoming a Rhodes Scholar at Oxford, where he met Bill Clinton. He became TIME’s principal correspondent on Soviet-U.S. relations in the 1980’s. Long active in Democratic Party politics, when his friend Clinton became president, Talbott was brought in a Deputy Secretary of State. Once out of office, he was the director of a globalization program at Yale, then became President of The Brookings Institution in 2002, a position he still holds. He is also the author of several books.
Vin Weber 2001-Present
Weber attended the University of Minnasota, but apparently did not graduate. He was elected to the House of Representatives as a “moderate” Republican and served for 12 years (1981-1993) in that body. More recently, he has been the managing partner of Clark and Weinstock, a Washington, DC lobbying firm. He has been involved in the Aspen Institute and was an adviser to Mitt Romney. He is a partner at Mercury, a public strategy firm.
Fareed Zakaria 2004-Present
Zakaria, a naturalized U.S. citizen, is originally from India, where his father was a prominent scholar, lawyer and politician who was once deputy leader of the Congress Party. His mother was a journalist who edited the Sunday Times of India. Zakaria, who earned a BA at Yale and a Ph.D. at Harvard, began his journalistic career as managing editor of Foreign Affairs. He has gone on to be a host on CNN, an editor at large of TIME, an editor of Newsweek International and an author of several books. He reportedly now demands $75,000 to give a speech, so although his net worth is now estimated at $4 million, it is likely to grow rapidly, perhaps putting him into the capitalist class in a few years.
Capitalist Class Members of CFR as of 2011-2012 (Partial List)
Beyond the leadership of the Council, there are many capitalist class members in the CFR. Due to the large number of members, only the most prominent names, a total of 128 individuals, from the 2011 and 2012 Annual Reports have been selected here for listing, together with additional information (CFR 2011:31-52; 2012:33-54). Due to the fact that capitalist class family members often have different last names, and that often multiple family members are able, due to connections, to get into the organization, this list is only indicative, and not at all definitive. To cite but one example, Peggy Dulany, David Rockefeller’s daughter, is a member of the Council, and was a CFR director. The Rockefeller family has at least six family members in the Council. Other ruling capitalist class families also have multiple members in the Council. This further indicates that capitalist class connections remain key for a substantial part of the organization’s membership. A full list of all such connections would require a lengthy study. Data for this list was also compiled from the Forbes website, the Financial Times, The Wall Street Journal, The New York Times, the New York Daily News, the San Francisco Chronicle, Allen (1987) and Lundberg (1946).
Richard C. Adkerson — CEO of Freeport-McMoRan Copper and Gold, he received $30.6 million in direct compensation from this corporation in 2010 alone.
Roger C. Altman — CEO of Evercore Partners, Forbes states that he received stock options worth nearly $8 million, 2008-2010
Robert A. Belfer — chair of Belfer Management, a family investment firm. Had a long career with Belco Petroleum, another family firm. Belco merged with another company to form Enron Corporation and Belfer became a major holder of Enron stock. He and the family reportedly lost nearly a billion dollars in the Enron collapse, but still had substantial other holdings, and later donated $100 million to a medical collage at Cornell University (The New York Times December 5, 2001; Forbes) He also endowed the Belfer Center at Harvard University
Mark R. Benioff — chair and CEO of Salesforce, Forbes estimates his wealth at $1.9 billion
Nicholas Berggruen — Forbes estimates his net worth at $2.3 billion from investments
Jeffery L. Bewkes — CEO of Time Warner, Forbes states that he received $48.47 in compensation during one five year period
George C. Biddle — part of a long wealthy Philadelphia family, intermarried with the Dukes and Drexels. Lundberg’s America’s Sixty Families (1946: 12, 237, 277) discusses the Biddles and their connections
Leon Black — a leverage buyout expert, his firm is Apollo Global Management. Forbes estimates his wealth level at $3.2 billion
Shirley Temple Black — became very wealthy through acting and endorsements prior to her retirement from filmmaking in 1950. Later married Charles Alden Black, one of the richest young men in California. Following government service with Reagan, she was invited to join a number of corporate boards, including The Walt Disney Co., Del Monte, Bank of America, Fireman’s Fund Insurance and Bancal.
Lloyd C. Blankfein — chair and CEO of Goldman-Sachs, he was paid over $50 million in 2007 alone (Financial Times April 14/15, 2012:10)
Michael Bloomberg — this mayor of New York city is worth $19.5 billion from his media empire says Forbes
Richard C. Blum — owner of Blum Capital Partners, as well as a major owner (15%) and chair of CB Richard Ellis, widely considered the world’s largest real estate firm. Blum’s stake in this latter firm alone makes him a billionaire, but his total wealth is much more extensive. He has large holdings in many corporations and with his wife, Senator Dianne Feinstein, also a CFR member, Blum owns a San Francisco hotel and six other homes around the country, as well as a Gulfstream G650 private jet (see my article in Z Magazine January 2012: 33-38).
Richard S. Braddock — was President of Citicorp, then an executive with Priceline. Forbes lists his net worth at $1.2 billion
Glenn A. Britt — CEO of Time Warner cable, received $33.7 million in compensation in one recent five year period according to Forbes
Edger M. Bronfman Sr. and Jr. — this father and son are key owners and operators of Seagrams, but also have had large investments in the entertainment field. Forbes estimated Edger Sr. wealth at $2.6 billion in 2011, and one author labeled the family “the Rothschilds of the New World” (Newman 1978)
Frank J. Caufield – co-founder of venture capital firm Kleiner Perkins Caufield & Byers.
Anne Cox Chambers — a main owner of Cox Enterprises, estimated to be worth $12.5 billion by Forbes in 2012
Kenneth I. Chenault — chair of American Express, according to Forbes, he was paid $42 million in 2008 and $50 million in 2009
William J. Clinton — estimated net worth of between $38 and $80 million from speaking engagements and book deals according to the web sites the richest.com and nbcnews.com/10richestpresidents
Adriana Cisneros — the daughter of billionaire Gustavo A. Cisneros from Venezuela, she is vice chair and director of strategy for the Cisneros group of companies
Katherine Couric — a television journalist who has worked for ABC, NBC and CBS, she received a $14 million salary in just one year
Lester Crown — a main owner of General Dynamics and other corporations, Forbes estimated his net worth at $ 4 billion
William H. Danforth — the grandson of the founder of Ralston-Purina, he shares in that fortune
Thomas R. Donahue — the President and CEO of the U.S. Chamber of Commerce, his pay from the Chamber for one year’s work (2008) was $3.7 million
Immaculada de Hapsburgo — her father is of the House of Hapsburg and a Carlist claimant to the throne of Spain
Lynn F. de Rothschild — she is the widow of Sir Evelen de Rothschild, a member of the British branch of this very wealthy family
Barry Diller — media executive, worth $1.6 billion according to Forbes
Jamie Dimon — chair of JP Morgan Chase, Forbes states that he owns $226 million in J.P. Morgan Chase stock and was paid $110 million during the years 2005-2010
Robin Duke — a member of the Duke tobacco family, one of the richest in the nation, mentioned in Lundberg’s America’s Sixty Families (1946:26)
Gregory J. Fleming — was co-president of Merrill Lynch. Joined Morgan Stanley as a vice president in early 2010 and received a total compensation package of $13.3 million for that year alone (Forbes)
Ted Forstmann — he is chairman of IMG (sports management) and worth $1.8 billion according to Forbes
Kenneth C. Frazier — president of Merck, Forbes says he received a compensation package of $9.4 million for 2010 alone
Stephen C. Freidheim – CIO of Cyrus Capital Partners
William H. Frist — a Senator from Tennessee, Frist is a major stockholder in the family owned Hospital Corporation of America. His 2005 financial disclosure statement lists trusts worth between $15 and $45 million.
Victor Fung — he and his family has wealth estimated at $2.8 billion from their retail business says Forbes
Joseph T. Gorman — was CEO of TRW, Forbes states he received $31 million in compensation in one 5 year period
Robert D. and Mimi Haas — part of the Levi Strauss clothing family, a family reportedly worth about $600 million in 1987 (Allen 1987:337)
Jane Harmon — This former member of Congress has an estimated net worth of over $200 million
William B. Harrison — he is retired chair of JP Morgan Chase
Joshua J. Harris — a co-founder of Apollo Global Management, he is worth $1.45 billion according to Forbes
Rita E. Hauser — a lawyer, Hauser is President of Hauser Foundation. She and her husband donated $40 million to Harvard University in 2011. She donated between $1 million and $5 million to the CFR in 2007 (CFR 2007: 71)
Charles A. Heimbold Jr. — was CEO of Bristol Myers Squibb. Forbes documents that he received $117 million in compensation during the 5 year period 1996-2000
Roger Hertoz – Alliance Capital Management, American Enterprise Institute
John B. and Marlene Hess — brother and sister, Forbes estimates that John alone owns $734 million worth of Hess Oil stock
Swanee Hunt — a daughter of oil tycoon H.L. Hunt, she has been a fund-raiser for Democratic Party candidates and was then appointed by President Clinton to be Ambassador to Austria
Robert J. Hurst — was vice chair of Goldman Sachs, he spent $27 million just to tear down property in Aspen, Colorado in 2004
James A. Johnson — a Democratic Party operative, Johnson was also managing director of Lehman Brothers prior to becoming CEO of Fannie Mae (the Federal National Mortgage Association) in 1991. By 1998 Johnson had been paid $28 million by Fannie Mae (Financial Times November 17-18, 2012: Life & Arts:18).
Robert W. Johnson IV — heir to the Johnson and Johnson medical fortune
Shelia C. Johnson — once married to TV billionaire Robert L. Johnson, Forbes lists her net worth at $400 million
Angelina Jolie — Forbes estimates her annual earnings from movies alone were $27 million in 2010 and $30 million in 2011
Caroline B. and Edward Kennedy Jr. — these cousins are heirs to the Kennedy fortune, the New York Daily News estimated Caroline’s fortune at over $100 million
John Forbes Kerry — John Kerry and his wife, Teresa Heinz-Kerry, are near billionaires, heirs to the Heinz food fortune. They are reportedly worth about $750 million. John Forbes Kerry and his relatives are part of the Forbes and Winthrop families, descendents of a long line of upper class Boston Brahmins, who made their initial fortunes as 19th century China traders, including the opium trade. They also have close ties to France, with a joint Winthrop-Forbes family estate in Brittany. John’s brother Cameron, his sister Peggy and daughter Vanessa are all also CFR members, making at least five family members in the Council
Seth Klarman — leading hedge fund manager, his hedge fund, Baupost, estimated by the Financial Times (February 29, 2012:1) to have made $16 billion from its inception to the end of 2011
Richard J. Kogan — CEO of Schering-Plough, Forbes reported his compensation for one five year period to be $115.3 million
Bruce S. Kovner — his net worth is $4.3 billion from hedge funds according to Forbes
Jessie J. Knight — chair and CEO of Sempra Energy, San Diego, California
Lansing Lamont — a grandson of Thomas W. Lamont, former chair of J.P. Morgan and part of the Morgan “inner group” (Lundberg 1946:26-37)
Robert W. Lane — CEO of Deere, Forbes reported that his compensation for one five year period to be $142.4 million
Leonard and Ronald Lauder — Forbes reports that these two are worth $9.6 billion total from Estee Lauder
George Cabot Lodge — this retired Harvard Business School professor is a heir to both Cabots and Lodges of Boston. The Cabot family alone was estimated to be worth over $350 million in 1987 (Allen 1987: 318)
Stephen F. Mandel Jr. — Forbes estimates that he is worth $1.5 billion from hedge funds. He is the manager of the Lone Pine hedge fund, with 23.4 billion under management at the end of 2012 (Financial Times, March 6, 2013:20)
Donald Marron — CEO of Paine Webber, Forbes reports his net worth to be $1 billion
Craig McCaw — Forbes estimates he is worth $1.6 billion from telecom investments
Robert B. McKeon – founder, Chair and President of Veritas Capital, also Chair of Integrated Defense Technologies
Steven F. Mandel — a Dartmouth and Harvard grad, he is the founder of the Lone Pine Capital hedge fund, and has an estimate net worth of 1.8 billion
Dana G. Mead — chair and CEO of Tenneco, on board of Pfizer, Cummins, Zurich Financial Services, and International Paper. Also chair of both Business Roundtable and National Association of Manufacturers
Craig Mundie — Chief Technical Officer at Microsoft, Forbes reports that he has realized $17.3 million from stock options
Rupert Murdock — a naturalized U.S. citizen, Forbes estimates that this media mogul is worth $8.3 billion
Marc B. Nathanson — An executive with Falcon TV, Forbes reported his net worth to be $1.1 billion in 2008
Robert Nederlander Jr. — One of the heirs to the Nederlander fortune, based on the Nederlander Organization, one of the nation’s largest live theater owners and producers, with cable TV and film operations as well as minority ownership in the N.Y. Yankees
Stanley O’Neal — was chair and CEO of Merrill Lynch, left the company with a $161.5 million golden parachute compensation package in 2007, but Forbes stated that his fortune later dropped below $100 million
Samuel J. Palmisano — was president and CEO of IBM, and was also on the board of directors of Exxon-Mobil. His total compensation from IBM alone was $21 million in 2009
Alan Patricof — Executive with Apax Partners and Patricof Ventures, he is reported to have a net worth of $250 million
Henry Paulson — former Treasury Secretary, was head of Goldman-Sachs, Forbes reports that he owns $632 million of Goldman-Sachs stock
John Paulson — leading hedge fund manager, reported to be worth $26 billion in 2011.
Charles M. Pigott — grandson of the founder and president of the family business, Pacific Car and Foundry (PACCAR). His family’s wealth reported to be at least $250 million in 1987 (Allen 1987:371)
Thomas Pritzker — an owner, with other relatives, of the Hyatt hotel chain, personally had a net worth of $1.8 billion in 2009 according to Forbes
Lee Raymond — CEO of Exxon Mobil, Forbes reports that he owns $151.8 million of Exxon Mobil stock and was paid $123.6 million in compensation in one five year period
Ogden Reid — a member of the owning family of the New York Herald Tribune
James D. Robinson III — CEO of American Express; chair of Bristol-Myers-Squibb; director of Coka-Cola and Norvell, the last three of these companies paid him $4.1 million over one six year period
Steven, John D. IV and David Rockefeller Jr. — All these cousins are great grandsons of John D. Rockefeller and have large family trust funds
James E. Rogers — CEO of Duke Energy, Forbes reports that he received $33.2 million in compensation during one five year period
Theodore Roosevelt IV — Great grandson of President Theodore Roosevelt, he was managing director of Lehman Brothers and more recently of Barclays Capital. His family wealth comes partly from land holdings in and around New York City
Nina Rosenwald — daughter of Julius Rosenwald, once the principal stockholder of Sears Robuck & Co. Family wealth estimated at $400 million in 1987 (Allen 1987:377)
Arthur F. Ryan — CEO of Prudential, Forbes reports that he received compensation amounting to $59.4 million during one five year period
Patrick G. Ryan Jr. — he made $1.1 billion from insurance (Forbes)
Henry B. Schacht — Was CEO of Cummings, was paid $922,000 in one year
Sheryl K. Sandberg — A Facebook executive, she received an estimated $30 million worth of Facebook shares in 2011
Eric Schmidt — this Google executive is estimated to be worth $6.2 billion by Forbes
Bernard L. Schwartz — Was CEO of Loral, Forbes reported that he received a compensation package of $62.6 million during one five year period
Stephen Schwartzman — Peter Peterson’s partner in founding and developing Blackstone, The Economist called him “the new king of Wall Street” due to his firm’s ability to secure financing and do record breaking deals. He got into trouble by comparing the Obama administration’s supposed “war” on business to Hitler’s 1939 invasion of Poland (The Economist August 21, 2010:63). He was a major backer of Mitt Romney for President. Forbes estimates that he is now worth $4.7 billion
David E. Shaw — leading hedge fund manager, Forbes estimated that he made $580 million in 2011 alone, and is now worth $2.1 billion
Frederick W. Smith — he is worth $1.7 billion from FEDEX
Jerry I. Speyer — this real estate investor is worth $1.8 billion according to Forbes
Lesley R. Stahl — a CBS news journalist from the early 1970s to the present, she was making $2.3 million a year by 2007, when she was forced to take a pay cut to $1.8 million a year
George Stephanopoulos — this ABC News correspondent is reportedly paid $8 million a year
David Joel Stern — Commissioner of the NBA, his yearly salary was $8 million in 2004
Robert J. Stevens — CEO of Lockheed Martin, Forbes reports he received $120.8 million in compensation during one five year period
Randall L. Stephenson — CEO of ATT, he was paid $20.2 million in 2010 alone
Lawrence H. Summers — Harvard professor, former Treasury Secretary and Obama economic adviser, reported to be worth $20 million (San Francisco Chronicle August 29, 2013:C4)
William H. Taft IV — the great grandson of President William Howard Taft, the family is wealthy from real estate (Lundberg 1946: 27)
Maurice Tempelsman — this diamond broker is reported to have over $12 million is only one of his equity holdings
John L. Thornton — retired co-COO of Goldman Sachs and a director of Ford, Intel and other corporations, reportedly worth about $300 million (Carroll 2012:
Andrew and James Tisch — members of the Tisch family that owns LOEWS. The family is worth at least $4.2 billion according to Forbes
William J. and Katrina vanden Heuvel — Key owners of the Nation Magazine, William’s wife and Katrina’s mother was the daughter of the founder of Music Corporation of America
Barbara Walters — this ABC News correspondent was reportedly paid $12 million is 2007 alone
Sanford I Weill — this former Citicorp executive is estimated to be worth $1.5 billion by Forbes
Cora Weiss — daughter of Samuel Rubin, who sold Faberge for $25 million in 1963
John C. Whitehead — spent 38 years with Goldman-Sachs, retired as co-chair and co-senior partner. Long associated with the Rockefeller family, held positions with the Asia Society and Rockefeller University as well as serving on the Trust Committee overseeing the family fortune
Brian D. Williams — this anchor of NBC Nightly News reportedly is paid $10 million a year
Frederick B. Wittemore — this former partner in Morgan Stanley became a director of Chesapeake Energy in 1993, Forbes reports that he received $2.3 million in compensation from this firm in one five year period
James D. Wolfensohn — known as the long time head of the World Bank, his earlier career was in banking, where he reportedly accumulated a fortune of $100 million
Janet Yellen — vice chair of the FED has, with her husband, assets reportedly valued at $13.2 million (San Francisco Chronicle August 29, 2013:C4)
Mortimer Zuckerman — a real estate and media mogul, Forbes estimated his net worth at $2.2 billion