- Name: Burton Malkiel
- Current Age: 89
- Occupation(s): Economist, Author, Investment Advisor
- Date of Birth: August 28, 1932
- Place of Birth: Boston, Massachusetts, USA
- Nationality: American
- Parents: Samuel Malkiel, Lillian Malkiel
- Spouse: Judith Malkiel
- Children: 2
- Net Worth: Estimated at $10 million (2024)
- Source of Wealth: Books, Investments, Advisory Services
- Ventures: None
- Ethnicity: Jewish
- Height: 5’10"
- Weight: 160 lbs
- Notable Works: "A Random Walk Down Wall Street"
Early Life and Education:
Burton Malkiel was born on August 28, 1932, in Boston, Massachusetts, to Samuel and Lillian Malkiel. Growing up in a Jewish household, Malkiel was instilled with a strong work ethic and a passion for learning. He excelled academically and went on to pursue higher education at Harvard University, where he earned his Bachelor’s degree in Economics. He later obtained his MBA and Ph.D. from Princeton University.
Career Beginning:
Malkiel began his career in academia, teaching economics at various prestigious universities, including Princeton and Yale. His expertise in finance and investment led him to become a leading voice in the field of investment management. He also served on the Council of Economic Advisers under President Gerald Ford.
Breakthrough and Career Achievements:
Malkiel gained widespread recognition with the publication of his seminal book, "A Random Walk Down Wall Street," in 1973. The book revolutionized the way people approached investing by advocating for a passive investment strategy based on the efficient market hypothesis. It became a bestseller and a staple in the world of finance.
Throughout his career, Malkiel has continued to influence investors and financial professionals through his writings, lectures, and advisory work. He has served on the boards of several financial institutions and is a sought-after speaker at conferences and events.
Financial Insights:
As of 2024, Burton Malkiel’s net worth is estimated to be around $10 million. His primary sources of income include royalties from his books, fees from advisory services, and income from investments. Malkiel’s wealth is attributed to his successful career as an economist, author, and investment advisor.
Malkiel’s financial success can be attributed to his early adoption of passive investing strategies, which have proven to be effective in generating long-term wealth. His reputation as a thought leader in finance has also contributed to lucrative speaking engagements and advisory roles.
Expert Opinions and Citations:
According to financial experts, Burton Malkiel’s advocacy for passive investing and his contributions to the field of finance have had a lasting impact on the way individuals approach investing. His insights continue to shape the investment strategies of both novice and seasoned investors.
In conclusion, Burton Malkiel’s journey from academia to becoming a renowned financial guru exemplifies the power of knowledge, innovation, and perseverance in achieving financial success. His legacy as an influential figure in the world of finance is sure to endure for generations to come.
