Rahm Emanuel Net Worth 2022 – Salary, Income, Earnings

Rahm Emanuel Net Worth 

Rahm Emanuel has an estimated net worth of $14 million. Politician Rahm Emanuel was White House Chief of Staff to President Barack Obama and served as Mayor of Chicago from 2011 to 2019. He earns most of his income from his political career.

Rahm Emanuel is a politician from the United States. He worked on David Robinson’s Chicago congressional campaign, earning a reputation for tenacious fundraising, and went on to hold several other political positions, including U.S. representative and White House Chief of Staff for President Barack Obama. Emanuel was elected mayor of Chicago in 2011, succeeding Richard Daley. He served two terms before retiring in May 2019.

To calculate the net worth of Rahm Emanuel, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: Rahm Emanuel
Net Worth: $14 Million
Monthly Salary: $50 Thousand
Annual Income: $2 Million
Source of Wealth: Politician, Strategist

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Early Life

Rahm Israel Emanuel was born on November 29, 1959, in Chicago, Illinois, to Benjamin Emanuel, an Israeli pediatrician, and Martha Smulevitz, a Jewish-American x-ray technician. In his youth, Benjamin worked as a code breaker for the Irgun, a militant Zionist group seeking Israeli independence. Martha was involved in the Civil Rights Movement and once owned a rock ‘n’ roll club in Chicago. In 1933, the family adopted the surname Emanuel as a tribute to uncle Emanuel Auerbach, who was killed in a skirmish with Arabs in Jerusalem.

Emanuel was the second of four brothers and sisters. Ezekiel, his older brother, is now an oncologist and nationally recognized medical ethicist at Harvard. Ariel, his younger brother, is a Hollywood television agent and the inspiration for Ari Gold on the hit television series Entourage. Emanuel is said to have inspired the character Josh Lyman on The West Wing. Shoshana, Emanuel’s younger sister, was adopted after a doctor’s visit revealed that she had suffered a brain hemorrhage at birth.

Emanuel and his siblings went on field trips to art museums and civil rights rallies as children. According to his mother, the children were expected to not only help prepare dinner but also to be well-versed in current events. During family meals, they were frequently quizzed on current events. At their mother’s insistence, the boys also took ballet lessons. Rahm excelled in dance and received a scholarship to Joffrey Ballet, Chicago’s Premiere Ballet Company, while attending New Trier West High School.

Interest in Politics

Emanuel passed up the opportunity to attend Sarah Lawrence College in Bronxville, New York, which has a strong dance program. While still a student at Sarah Lawrence, he worked on David Robinson’s Chicago congressional campaign in 1980. “Someone would put up $500. ‘Thank you very much… we need $1,000,’ he’d call back “Former Democratic National Committee Chairman David Wilhelm recalled Emanuel at the time. Emanuel’s reputation as a tenacious fundraiser would stick with him throughout his career.

Emanuel attended Northwestern University in Chicago after graduating with a bachelor’s degree in 1981. During his studies, he also worked in local and national politics, including a stint on Democrat Paul Simon’s 1984 U.S. Senate campaign. Emanuel earned a master’s degree in speech and communication from Northwestern in 1985. His first job after graduation was with the consumer advocacy organization Illinois Public Action.

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Democratic Party Prodigy

In 1988, Emanuel served as the Democratic Congressional Campaign Committee’s national campaign director, and in 1989, he became the senior advisor and chief fundraiser for Richard Daley’s mayoral campaign in Chicago. During this time, he raised a record-breaking $7 million for Daley.

During the first Gulf War in 1991, Emanuel reportedly served as a civilian volunteer in the Israel Defense Forces. He was allegedly stationed at one of Israel’s northern bases, where he rusted brakes.

In 1992, Emanuel’s fundraising skills helped him land a job as director of finance for Bill Clinton’s presidential campaign. Following the campaign, Emanuel worked as a senior advisor in the Clinton White House, where he was in charge of organizing the 1993 meeting between Israeli Prime Minister Yitzhak Rabin and Palestinian leader Yasser Arafat. He was also a key strategist in the 1994 failed push for universal healthcare.

Emanuel left the White House in 1998 to become the managing director of Dresdner Kleinwort Wasserstein, a Chicago-based investment banking firm. President Clinton appointed Emanuel to the board of directors of the Federal Home Loan Mortgage Corporation, better known as Freddie Mac, in 2000. It is estimated that Emanuel earned more than $18 million during this time period. During his successful run for a seat in the United States House of Representatives in 2001, Emanuel resigned from the board.

Obama’s Chief of Staff

Emanuel was elected chair of the Democratic Caucus by the new Democratic majority in January 2007, making him the fourth-highest ranking member of House Democratic leadership.

Emanuel accepted the position of White House Chief of Staff for newly elected President Barack Obama on November 6, 2008. While The New York Times called him “perhaps the most influential chief of staff of a generation,” Emanuel quickly earned a reputation for his abusive, disparaging tirades, particularly against the Democratic Party. In one instance, Emanuel made an inflammatory remark about conservative Democrats who opposed President Obama’s new health-care initiative, which was leaked to the press. He later apologized publicly for his inappropriate language.

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Chicago Mayor

On September 30, 2010, Emanuel resigned as chief of staff to run for mayor of Chicago. In the interim, he was replaced by political consultant Peter Rouse. Emanuel was elected mayor of Chicago on February 22, 2011.

Following claims by the Chicago Teachers Union that the mayor was withholding resources from Chicago Public Schools, Emanuel was the subject of several Chicago news reports in 2012. Emanuel also faced criticism for leaving Chicago in the midst of a Chicago-wide teachers’ strike to speak at the Democratic National Convention.

On September 4, 2018, Emanuel made the shocking announcement that he would not run for re-election the following year.

“This has been a job of a lifetime,” the mayor said, “but it is not a job for a lifetime.” He left office in May 2019, after Democrat Lori Lightfoot was elected.

Personal Life

Amy Rule, whom Emanuel met on a blind date, is his wife. The couple has three children: Zachariah, a son, and Ilana and Leah, daughters.

Further Reading

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