Goldman Sachs Net Worth is$45.59 Billion
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Nicknames: Goldman Sachs Group, Inc., Goldman Sachs Group, Goldman Sachs Group Inc
What is Goldman Sachs net worth? Goldman Sachs net worth is $45.59 billion. Goldman Sachs has launched the careers of more than one high level economic official, including former Secretary of the Treasury, Robert Rubin, and Mario Draghi, the Governor of the European Central Bank. Marcus Goldman, a businessman originally from Germany, founded the company in the late 1860s. After hiring his son-in-law, Samuel Sachs, and then his son, and another son-in-law, the company was renamed Goldman Sachs & Company. The company is now known as The Goldman Sachs Group, Inc. The company built its success on commercial paper. Commercial paper is an unsecured promissory note that matures in less than a year. These papers became instrumental in the launch of multiple businesses. Goldman Sachs joined the New York Stock Exchange in the late 1890s, helped establish the first IPO, and was flying high until the stock market crash of 1929. In an effort to get themselves back on its feet, Goldman Sachs shifted its focus to investment banking and, except for a major issue surrounding the bankruptcy of the Penn Central Transportation Company in 1970, the company appeared to be on solid ground. The 80s and 90s saw ups and downs for the company, including opening additional offices around the world, and their involvement in the Mexican financial crisis in 1994. They went public in 1999. During the early months of the housing crisis, Goldman Sachs was the only company to turn a profit, and was held up as an example of how to handle the crisis. However, their triumph was relatively short-lived, and they have since closed some of their divisions, including their largest hedge fund, in an effort to cut losses. While their business practices have occasionally come under fire, they have been consistently praised for their philanthropic work, and their support of small business. Goldman Sachs currently employs just over 31,000 people around the world.
The Goldman Sachs Group, Inc. (NYSE: GS) is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients. Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in the Lower Manhattan area of New York City, with additional offices in international financial centers. The firm provides mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clients, which include corporations, governments and individuals. The firm also engages in market making and private equity deals, and is a primary dealer in the United States Treasury security market. It is recognized as one of the most prestigious investment banks in the world.
Former employees include Robert Rubin and Henry Paulson who served as United States Secretary of the Treasury under Presidents Bill Clinton and George W. Bush, respectively, as well as Mark Carney, the governor of the Bank of Canada since 2008, Mario Draghi, governor of the European Central Bank and Mario Monti, the Italian Prime Minister.
Goldman Sachs was founded in New York in 1869 by the German-born Marcus Goldman. In 1882, Goldman's son-in-law Samuel Sachs joined the firm. In 1885, Goldman took his son Henry and his son-in-law Ludwig Dreyfuss into the business and the firm adopted its present name, Goldman Sachs & Co. The company made a name for itself pioneering the use of commercial paper for entrepreneurs and was invited to join the New York Stock Exchange (NYSE) in 1896.
In the early 20th century, Goldman was a player in establishing the initial public offering (IPO) market. It managed one of the largest IPOs to date, that of Sears, Roebuck and Company in 1906. It also became one of the first companies to heavily recruit those with MBA degrees from leading business schools, a practice that still continues today.[c

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Goldman Sachs Latest News

Goldman: There is a ‘50% chance’ of a government shutdown

Goldman Sachs says there is a "50% chance of a brief government shutdown" due to President Donald Trump's declining poll ratings. "We assume that any shutdown would be brief," economist Alec Phillips wrote. The economist also said the tax reform agenda is ...
Posted: August 18, 2017, 10:44 pm

Will Goldman Sachs Alum Gary Cohn Take Over the Fed Next Year?

Rumored to be Trump's choice to replace Janet Yellen, he might opt to return to Wall Street. Central Bank, est. 1913, seeks new Chair, to assume duties Feb. 5, 2018: Applicants will be considered even if they have graduate training in economics, although a ...
Posted: August 19, 2017, 7:20 am

Goldman Sachs Banker Files Race Discrimination Lawsuit

Rebecca Allen, a 32-year-old wealth manager at Goldman Sachs Group Inc., sued the bank and one of its managers, claiming she was discriminated against because she is black and Jewish. A vice president in the private wealth-management division, Allen says ...
Posted: August 17, 2017, 8:41 am

Pensions Accuse Morgan Stanley, Goldman Sachs Et Al Of Being Just A Little Too Tight With Each Other

In this day and age, it’s not shocking to see allegations of anti-competitive practices among the handful of banks in the Big Enough To Actually Matter tier of high finance. Antitrust investigations, lawsuits and and settlements have arisen around ...
Posted: August 19, 2017, 6:46 am

Black-Jewish staffer files suit against Goldman Sachs alleging racial discrimination

A black and Jewish Goldman Sachs staffer has filed a racial discrimination lawsuit against the bank, claiming a boss there purposely gave her fewer and less valuable clients. Rebecca Allen, 32, says she lost out on more than $300,000 a year in pay because ...
Posted: August 16, 2017, 9:43 pm
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