Robert Reich Net Worth

What Is Robert Reich's Net Worth?

Robert Reich is an American political economist, professor, author, and political commentator who has a net worth of $4 million. Robert Reich's career has spanned government service, academia, and public advocacy. He is widely regarded for his work on labor policy, economic inequality, and the dynamics of wealth and power in modern capitalism. Reich first gained national prominence in the 1970s and 1980s through his academic work at Harvard University and as a policy advisor during multiple presidential administrations. He served on the Federal Trade Commission's policy planning staff under President Gerald Ford, worked in the Carter administration, and became a noted voice on economic competitiveness and workforce development.

Reich's highest-profile government role came when President Bill Clinton appointed him Secretary of Labor in 1993. During his four-year tenure, he focused on raising the minimum wage, expanding access to education and job training, strengthening workplace safety rules, and promoting family-friendly labor policies. He became one of the administration's most public-facing cabinet members, known for his communication skills and his advocacy for workers during a period of rapid economic transition.

After leaving government, Reich shifted to academia and public communication. He taught at Brandeis University and later joined the Goldman School of Public Policy at the University of California, Berkeley, where he became one of the institution's most prominent faculty members. Reich also built a significant presence as a bestselling author, writing books such as "The Work of Nations," "Aftershock," "Saving Capitalism," and "The System," all of which analyze structural inequality and the concentration of economic power.

Reich expanded his influence through documentaries, digital media, and commentary platforms, becoming a leading progressive voice on economic and political issues. Through teaching, writing, and public advocacy, he has remained a central figure in American debates about inequality, corporate power, and the future of work.

Early Life

Robert Reich was born in Scranton, Pennsylvania to Mildred and Edwin Reich. His father owned a women's clothing store, and the family later moved to New York, where Reich attended John Jay High School. As a child, he was diagnosed with multiple epiphyseal dysplasia, or Fairbank's disease, a condition that results in short stature and joint complications. Reich later said the experience of being bullied as a young boy shaped his instinct to advocate for the vulnerable. He often sought protection from older friends, including civil rights worker Michael Schwerner, whose 1964 murder by the Ku Klux Klan left a lasting impact on Reich's worldview and his commitment to public service.

Reich earned a National Merit Scholarship and studied history at Dartmouth College, graduating summa cum laude in 1968. He went on to win a Rhodes Scholarship and studied Philosophy, Politics, and Economics at University College, Oxford, where he befriended fellow scholar Bill Clinton. He later attended Yale Law School, earning his J.D. and studying alongside Clinton, Hillary Rodham, Clarence Thomas, and Richard Blumenthal. After graduation, Reich clerked for Judge Frank M. Coffin, chief judge of the U.S. Court of Appeals for the First Circuit.

Early Government and Academic Career

Reich began his public career in 1974 as an assistant to U.S. Solicitor General Robert Bork, drawing on his training in constitutional and antitrust law. In 1977, President Jimmy Carter appointed him director of the Policy Planning Staff at the Federal Trade Commission, where Reich developed a reputation for analyzing the intersection of labor markets, competition, and consumer protection.

From 1980 to 1992, he taught public policy at the John F. Kennedy School of Government at Harvard University. During this period he wrote influential books such as "The Next American Frontier" and "The Work of Nations," which explored globalization, technological change, and the future of the American workforce. These writings established him as one of the nation's leading voices on labor and economic competitiveness.

Clinton Administration

After Bill Clinton won the 1992 presidential election, he selected Reich to help lead economic policy during the transition and soon appointed him Secretary of Labor. At the start of the administration, Reich became one of the most visible and influential cabinet members. He championed raising the minimum wage, expanding job training programs, investing in infrastructure, and strengthening workplace safety rules. As a member of the National Economic Council, he advised on health care, welfare reform, technology policy, and education initiatives.

Reich also urged regulatory agencies, including the Federal Communications Commission, to consider the impact of policy on workers and middle-income households. Over time, however, his influence diminished as internal debates over federal spending and deficit reduction intensified. By 1996, he stepped down from the cabinet to spend more time with his two sons.

In 1997, he published "Locked in the Cabinet," a candid memoir of his years in the administration. The book received mixed reactions, with praise for its insight into policymaking and criticism from some Clinton allies who felt Reich overstated internal disagreements.

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Later Political and Academic Work

Reich returned to academia as a professor at Brandeis University, where many of his students later staffed his 2002 campaign for Governor of Massachusetts. Though he lost the Democratic primary to Shannon O'Brien, Reich became the first major gubernatorial candidate to openly support same-sex marriage. His platform also emphasized abortion rights, universal health care, and opposition to capital punishment.

In 2006, Reich joined the faculty of the Goldman School of Public Policy at the University of California, Berkeley. He became a central figure at the school, teaching economics, public policy, and leadership while serving on the board of the Blum Center for Developing Economies.

Reich remained politically active, endorsing Barack Obama in 2008, Bernie Sanders in 2016, and both Sanders and Elizabeth Warren in 2020.

Media, Advocacy, and Publications

Reich has become a major public commentator on economic inequality, corporate power, and American democracy. In 2015, he co-founded Inequality Media, which produces short-form videos, interviews, and explainers that reach millions of viewers on social platforms. He later launched "Resistance Report," offering real-time analysis of federal policy, and in 2020 debuted a weekly YouTube series, "The Common Good."

As an author, Reich has published numerous bestsellers, including "Reason," "Supercapitalism," "Aftershock," "Saving Capitalism," "The Common Good," and "The System." His work often explores structural inequality and the influence of money on politics.

He has also written two plays and collaborated with filmmaker Jacob Kornbluth on the documentaries "Inequality for All" and "Saving Capitalism," both of which were widely acclaimed for their clarity and accessibility.

Personal Life

In 1973, Reich married British-born lawyer Clare Dalton in Cambridge, UK. They welcomed two sons together – Sam and Adam. Sam became the CEO of the comedy website CollegeHumor, while Adam became a sociology professor at Columbia University. Robert and Clare divorced in 2012. Reich subsequently married photographer Perian Flaherty.

Real Estate

In 2000, Robert paid $500,000 for a home in Berkeley, California. Today, this home is worth around $2 million.

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