Goldman Wealth Datapoint of the Day

By Reuters Staff
March 17, 2009

Truly the recession is biting:

One former Goldman partner estimated that a quarter of the bank’s roughly 100 partners are now worth $5 million or less because of losses on their company stock and other investments.

The good news is that Goldman is letting them borrow money against their future income, which is going to be substantial, even if it doesn’t ever regain the giddy heights of the past few years. But still, less than $5 million? There are lawyers who are worth more than that!

Reprinted from Portfolio.com

More From Felix Salmon
Post Felix
The Piketty pessimist
The most expensive lottery ticket in the world
The problems of HFT, Joe Stiglitz edition
Private equity math, Nuveen edition
Five explanations for Greece’s bond yield
Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/