Robert Reich net worth is estimated at $4 million. Known for his sharp economic commentary and public service, Reich built his wealth through academia, government roles, publishing, and media production.
Early Life and Education
Robert Reich was born on June 24, 1946, in Scranton, Pennsylvania. His parents, Mildred and Edwin Reich, raised him in a working-class family. Diagnosed with Fairbank’s disease in childhood, Robert faced bullying but developed resilience and a passion for justice.
He graduated summa cum laude from Dartmouth College in 1968, studied Philosophy, Politics, and Economics at Oxford as a Rhodes Scholar, and later earned a J.D. from Yale Law School, where he was classmates with Bill Clinton and Hillary Rodham.
Legal and Political Career
Reich began his career as a law clerk for Judge Frank M. Coffin before joining U.S. Solicitor General Robert Bork’s team in 1974. In 1977, President Carter appointed him director of policy planning at the Federal Trade Commission.
In the 1980s, Reich joined Harvard’s Kennedy School, where he wrote key policy books. After Bill Clinton’s 1992 election victory, Reich was tapped to lead the economic transition team and then became Secretary of Labor.
Secretary of Labor and Policy Influence
From 1993 to 1997, Reich served in Clinton’s Cabinet. He pushed for investment in job training, infrastructure, and health care, while advising on economic and labor-related policy. He also influenced regulatory approaches by engaging with agencies like the FCC.
Despite early influence, budget hawks in the administration eventually overshadowed Reich’s progressive economic agenda. He resigned in 1996 to focus on his family and published the memoir Locked in the Cabinet a year later.
Academic and Political Engagement
After leaving office, Reich became a professor at Brandeis University and later joined UC Berkeley’s Goldman School of Public Policy in 2006. He also serves on the board of the Blum Center for Developing Economies.
Reich ran unsuccessfully for governor of Massachusetts in 2002, becoming the first major candidate to support same-sex marriage. He later endorsed Barack Obama in 2008, Bernie Sanders in 2016, and both Sanders and Warren in 2020.
Author, Commentator, and Media Producer
Reich has authored more than a dozen books, including:
- The Work of Nations
- Supercapitalism
- The Common Good
- The System: Who Rigged It, How We Fix It
He founded Inequality Media in 2015, producing short videos and commentary on wealth inequality and U.S. policy. His shows, such as The Resistance Report and The Common Good, have gained millions of views on YouTube and Facebook.
With filmmaker Jacob Kornbluth, Reich created two documentaries: Inequality for All and Saving Capitalism.
Personal Life and Real Estate
Robert married British lawyer Clare Dalton in 1973. They had two sons—Sam, CEO of CollegeHumor, and Adam, a sociology professor. After divorcing in 2012, Robert later married photographer Perian Flaherty.
In 2000, he purchased a home in Berkeley, California, for $500,000. The property is now valued at approximately $2 million, contributing to his overall net worth.
