Rahm Emanuel, born November 29, 1959, is an American politician, who is the current mayor of Chicago and former White House Chief of Staff under President Barack Obama. Emanuel was elected Mayor of Chicago in 2011 and reelected on April 7, 2015, as a member of the Democratic Party. Emanuel is the first Jewish person to hold the title of Mayor in Chicago.
Rahm Emanuel Current Net Worth: $15 Million
Rahm Emanuel, the current Mayor of Chicago who will not run for re-election in 2019, has a reported estimated net worth of anywhere from $12 to $15 million.
Early Life (1959-1981)
Emanuel was born on November 29, 1959, in Chicago, Illinois. As a child, Emanuel attended a handful of schools, such as Bernard Zell Anshe Emet Day School, Romona School, Locust Junior High School, and New Trier High School.
After high school, while he won a scholarship to the Joffrey Ballet, he turned it down to attend Sarah Lawrence College. Emanuel graduated Sarah Lawrence College with a Bachelor of Arts in Liberal Arts in 1981.
Career Beginnings (1981-1992)
In 1984, Emanuel worked for Democrat Paul Simon’s election to the U.S. Senate.
Emanuel received a Master of Arts in Speech and Communication from Northwestern University in 1985.
In 1988, Emanuel worked as the national campaign director for the Democratic Congressional Campaign Committee.
At the start of Bill Clinton’s presidential campaign, Emanuel was appointed to direct the campaign’s finance committee.
White House & Finance Career (1993-2001)
Following Bill Clinton’s presidential victory, Emanuel became a senior advisor to Clinton at the White House from 1993 to 1998.
Emanuel resigned from his position in the Clinton White House in 1998 and joined the investment banking firm Wasserstein Perella. Despite not possessing an MBA degree or prior banking experience, Emanuel became a managing director at the firm’s Chicago office in 1999 and made $16.2 million in two and a half years as a banker.
In the year 2000, President Clinton named Emanuel to the Board of Directors of Freddie Mac, earning at least $320,000 during his time there, including later stock sales.
Congress & White House Chief of Staff (2002-2011)
In 2002, Emanuel ran for the U.S. House seat in the 5th district of Illinois against Republican candidate Mark Augusti and was elected in October 2002.
In January 2003, Emanuel was named to the House Financial Services Committee.
In 2006, Emanuel assumed the position of Democratic Congressional Campaign Committee chairman.
Despite announcing his support for Hillary Clinton prior to her defeat, Emanuel accepted the position of White House Chief of Staff for President Obama on November 6, 2008.
Emanuel served as Chief of Staff until September 30, 2010, when it was announced that we would be running for Mayor of Chicago.
Congress & White House Chief of Staff (2012-Present)
Emanuel was elected as the Mayor of Chicago on February 22, 2011. He received 55% of the vote.
On April 7, 2015, Emanuel won re-election over Jesús “Chuy” García with 56% of the vote.
On September 4, 2018, it was announced that Emanuel would not be running for re-election.