Lloyd James Austin III, the 28th U.S. Secretary of Defense since January 22, 2021, marks history as the first African American to assume this position. Notably, his career, spanning impressive military and corporate roles, has led many to inquire: “What is Lloyd Austin’s net worth in 2023?”
Lloyd James Austin III has showcased an illustrious career, distinguished by his service as a retired United States Army four-star general. His groundbreaking role as the first African American U.S. Secretary of Defense, beginning from January 22, 2021, is a testament to his unparalleled dedication and commitment.
| Date | Event | Information |
|---|---|---|
| 2021 | Lloyd Austin becomes Secretary of Defense | Net worth estimated to be between $1-2 million USD |
| 2020 | Austin’s Raytheon stock holdings | Worth roughly $500,000; Total compensation, including stock, totaled $2.7 million |
| 2013-2016 | Austin’s tenure as commander of the United States Central Command | Earned $643,000 in cash over five years |
| 2023 | Forbes’ estimation | Austin’s net worth stands at $7 million |
Over half a decade, Austin’s financial records illuminate earnings amounting to $643,000 in cash, as indicated by the Securities and Exchange Commission filings. Beyond this, Austin has also enjoyed equity awards, projected to have a value around $1.1 million.
In the corporate realm, Austin’s association with Nucor, a steel magnate, as an Independent Director is noteworthy. With a handsome compensation of $275,000, he stands among the 12 executives at Nucor benefiting from such substantial remuneration.
When delving into the financial prowess of Lloyd Austin as of 2023, estimates suggest a net worth oscillating between $1-2 million USD. This valuation derives from an amalgamation of his known remunerations and investments over the years.
Shedding light on Austin’s investment portfolio, as of October 2020, his stock holdings in Raytheon were approximated at a hefty $500,000. Inclusively, with stock considerations, his total compensation from Raytheon aggregates to a staggering $2.7 million.
Benchmarking Lloyd Austin’s net worth in the broader spectrum, Forbes has pitched an estimate at $7 million. When juxtaposed with eminent figures in the public sector, such as former Secretary of State Hillary Clinton with $120 million and former Vice President Mike Pence at $11 million, Austin’s net worth provides an interesting insight.
While Lloyd Austin’s net worth may seem relatively modest when paralleled with other luminaries, his vast contributions in both the military and U.S. government sectors remain unparalleled. His wealth, accumulated over decades of diligent service and strategic corporate affiliations, encapsulates both his fiscal astuteness and unyielding commitment to his nation.
FAQs:
Q: When did Lloyd Austin assume his role as the 28th U.S. Secretary of Defense?
A: He started serving as the 28th U.S. Secretary of Defense on January 22, 2021.
Q: How much did Austin earn while serving on the board of Raytheon Technologies?
A: Over five years, Austin earned a total of $643,000 in cash and also received equity awards estimated at $1.1 million.
Q: What is Lloyd Austin’s estimated net worth as of 2023?
A: His net worth is estimated to be between $1-2 million USD.
Q: How does Austin’s net worth compare to other notable public figures?
A: Forbes estimates Austin’s net worth at $7 million, while figures like former Secretary of State Hillary Clinton and former Vice President Mike Pence have net worths of $120 million and $11 million respectively.
