Tim Geithner gets on the road to riches

The former Treasury secretary hits the lecture circuit, where he picked up $400,000 for just 3 speeches.

By Aimee Picchi Jul 9, 2013 12:04PM

U.S. Secretary of the Treasury Timothy Geithner testifies during a hearing on ''The Annual Report of the Financial Stability Oversight Council'' before the House Financial Services Committee (© Alex Wong/Getty Images)How does one follow up a career that includes serving as the U.S. Treasury secretary and the president of the Federal Reserve Bank of New York? If you're Tim Geithner, you go on the lucrative public-speaking circuit. 


Last month, he earned $200,000 for a speech at a Deutsche Bank (DB) conference after netting about $200,000 for two speaking engagements in April and May, the Financial Times reports. That $400,000 in earnings for just three speaking engagements gains him entry into the highest echelon of public speakers. 


So what are clients paying for? Geithner -- who made $191,300 during his first year as the Treasury secretary -- is imparting words of wisdom about Federal Reserve policy and his view on the world, the FT notes. A spokesman for Geithner declined to comment to the publication. 


Last month, Geithner joined former French President Nicolas Sarkozy and former Italian Prime Minister Mario Monti at the Deutsche Bank annual conference in Britain, the piece adds. 


Geithner's transition to public speaker follows a path trod by other former public officials like former President Bill Clinton. They've been able to leap from their well-paying but not spectacularly lucrative government jobs into the realm of the superrich. (Clinton is considered one of the highest-earning public speakers, bringing in $13.4 million in 2011 for such work, with his highest-paying client shelling out $750,000.)


Geithner was one of the least wealthy Treasury secretaries in recent history, and he took a 50% pay cut to join the department, Bloomberg notes. But his pre-Treasury annual earnings of $411,200 have been almost surpassed by just those three speaking gigs, suggesting that, like Clinton, he'll soon be reeling in a small fortune from giving speeches.


His predecessor at the Treasury, Henry Paulson, had banked a $500 million fortune from his career at Goldman Sachs Group (GS), while two previous Treasury secretaries, John Snow and Paul O'Neill, each had assets of more than $75 million. Geithner will have to do a whole lot of speaking to get anywhere near those guys.


Follow Aimee Picchi on Twitter at @aimeepicchi.


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9Comments
Jul 9, 2013 12:43PM
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With all this new income, I wonder if he's paying his fair share of taxes, or continuing to cheat.  Not that he'd ever be audited anyway with the current administration in power  - the IRS currently has their hands full causing pain for anyone on Obama's "enemies list".
Jul 9, 2013 12:46PM
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he is a known tax dodger.  he will probably not pay taxes on thi either.

 

irs wont go after him though.  they will go after conservatives instead

Jul 9, 2013 1:10PM
Jul 9, 2013 1:41PM
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TG has endeared himself to the Wall Street Greed mongers.   He will never want for the rest of his life.  Too bad he will be viewed by history as one of the criminals in the destruction of the American Dream.  The actions of this administration in the handling of the crisis was only beneficial to the select 1%.  For those that wonder the 1% vote and give their dollars to the Demo not as is suggested by the media to the Repub.   Look it up and sure there are exceptions but look at the group as a whole it is lopsided to the Demo another reason the Repub have a hard time capturing National positions which are so dependent on money.
Jul 9, 2013 3:36PM
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Isn't he a democrat???????????????
Jul 9, 2013 1:50PM
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Obama will be doing the same when he leaves, rake in the cash and getting himself a nice young hot white women.
Jul 10, 2013 6:56AM
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If you think this is Big $ $ $ - - just wait and see what the First Black President will command once he leaves office. It will be truly amazing. Even I would pay a couple bucks to know where he was ''HIDING'' the night four brave Americans were left ''BEHIND'' to DIE- - while he prepared for a ''fundraiser''!  What a disgrace- - what a coward! 
Jul 10, 2013 8:33AM
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Typical Democrat has-been....Rape the American, wherever the money is!
Jul 9, 2013 12:48PM
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Memory problems again, Brutus?
Dont you recall it was the "turbo tax" programs giving him grief?

On the other hand, why does anyone choose to go into public service,
if not to 'publicly service' themselves after they depart the job.

Nice going, GYT !!  Get those gigs wherever you can,
because that is the capitalist way...

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