Herbert Sandler Net Worth
Herbert Sandler Net Worth: Herbert Sandler is an American lawyer, banker, and philanthropist who has a net worth of $800 million. Sandler graduated from New York´s City College in 1951 and then from Columbia Law School in 1954. Herbert Sandler, along with his wife Marion, operated as CO-CEO of Golden West Financial Corporation from 1963 to 2006. They acquired Golden West Savings and Loan Association which later became the World Savings Bank. Golden West Financial Corporation was a very successful company that focused on residential mortgage portfolio risk-averse to provide high quality loans. In over 40 years of operation, it had the lowest loan losses in the industry. The company was described as one of the most efficient money producing companies in the world and for ten years was included in Fortune magazine as one of United States most admired companies. Golden West was sold to Wachovia Bank in 2006 for $24 billion. The Sandler´s owned 10% percent of the company at the moment so they brought in $2.4 billion. They gave $1.3 billion to the Sandler Foundation, which is philanthropic foundation that contributes to several scientific investigations. The foundation has sponsored advanced studies for the prevention of asthma since 2000. They also contribute to the development of methods to prevent ill loans and all forms of abusive financial contracts through the "Center for Responsible Lending".