Gillian Tett Net Worth

Gillian Tett Net Worth: Unpacking the Fortune of a Financial Times Powerhouse

Introduction:

Gillian Tett, a prominent figure in the world of finance and journalism, has carved a remarkable career for herself at the Financial Times. Her insightful reporting, particularly on the global financial crisis and the rise of China, has cemented her status as one of the most influential voices in the industry. But what's the story behind her success? This comprehensive article delves deep into the question many are asking: What is Gillian Tett's net worth? While precise figures remain elusive, we'll explore the various factors contributing to her considerable wealth, analyzing her career trajectory, book sales, speaking engagements, and other potential income streams. Get ready to unravel the financial landscape surrounding this influential journalist.

Understanding the Challenges in Determining Net Worth:

Before we dive into estimations, it's crucial to acknowledge the inherent difficulty in pinpointing a celebrity's exact net worth. Public figures rarely disclose their complete financial details, and accurate information often relies on estimations based on publicly available data and informed speculation. Therefore, any figures presented should be treated as educated approximations rather than definitive statements.

Gillian Tett's Career: A Foundation of Success:

Gillian Tett's impressive career at the Financial Times forms the bedrock of her financial success. Her journey spans decades, marked by consistent achievement and a remarkable ability to navigate complex financial narratives.

Early Career and Rise to Prominence: Her early reporting laid the groundwork for her future successes. Her focus on emerging markets, particularly China, proved prescient and allowed her to build an impressive reputation within the financial journalism world.
Coverage of the Global Financial Crisis: Tett's insightful coverage of the 2008 financial crisis solidified her position as a leading financial journalist. Her ability to connect complex financial concepts with clear, engaging writing resonated with a broad audience. Her work during this period significantly enhanced her reputation and earning potential.
Authorship and Book Sales: The success of her books, particularly "Fool's Gold" and "The Silo Effect," has contributed significantly to her wealth. These books have become essential reading for anyone interested in understanding the intricacies of the global financial system. Royalties from these best-selling publications represent a substantial portion of her income.
Speaking Engagements and Consultations: Gillian Tett is a highly sought-after speaker, commanding significant fees for appearances at conferences, universities, and corporate events worldwide. This additional income stream complements her earnings from journalism and book sales.

Estimating Gillian Tett's Net Worth:

Given the aforementioned challenges, providing a precise figure for Gillian Tett's net worth is impossible. However, considering her decades-long career at the Financial Times, successful book sales, numerous speaking engagements, and potential investments, a reasonable estimate would place her net worth in the high millions of US dollars. This estimation is a broad approximation, and the actual figure could be higher or lower.

Factors Influencing Net Worth Estimates:

Several factors influence the accuracy (or lack thereof) in estimating Gillian Tett's net worth:

Salary at the Financial Times: While the exact salary of FT journalists isn't public, senior editors and columnists like Tett likely command substantial salaries.
Book Royalties: The success of "Fool's Gold" and "The Silo Effect," along with any subsequent publications, significantly contributes to her overall wealth. Ongoing sales continue to generate revenue.
Speaking Fees: The demand for her expertise means her speaking engagements likely generate considerable income.
Investments and Other Income Streams: Like many successful professionals, she likely has diversified investments that contribute to her overall net worth. These are impossible to quantify without private information.

Conclusion:

Gillian Tett's remarkable career and insightful contributions to financial journalism have undoubtedly led to substantial wealth. While an exact net worth remains elusive, a figure in the high millions of US dollars is a plausible estimation based on available information. Her success underscores the value of expertise, insightful reporting, and the ability to translate complex financial concepts for a wider audience.

Article Outline:

Introduction: Hooking the reader and setting the context.
Challenges in Determining Net Worth: Addressing the limitations of accurate estimation.
Gillian Tett's Career: A detailed examination of her career trajectory and key achievements.
Estimating Gillian Tett's Net Worth: Providing a reasoned estimation and explaining the rationale.
Factors Influencing Net Worth Estimates: Discussing the various contributing factors.
Conclusion: Summarizing the key findings and reiterating the complexities involved.

FAQs:

1. What is Gillian Tett's primary source of income? Her primary sources of income are likely a combination of her salary at the Financial Times, book royalties, and speaking fees.

2. Has Gillian Tett disclosed her net worth publicly? No, Gillian Tett, like most high-profile individuals, has not publicly disclosed her net worth.

3. How does Gillian Tett's net worth compare to other financial journalists? It's difficult to make direct comparisons without precise figures, but she's likely among the highest-earning financial journalists.

4. What is the significance of Gillian Tett's book, "Fool's Gold"? "Fool's Gold" is considered a seminal work on the 2008 financial crisis, significantly contributing to her reputation and book sales.

5. Does Gillian Tett have any other significant investments besides her career? This information is private and unavailable for public knowledge.

6. How much does Gillian Tett earn from speaking engagements? The exact amount varies depending on the event and duration, but it's a significant source of income.

7. What is the impact of Gillian Tett's journalism on the financial world? Her insightful reporting has influenced understanding and shaped the conversation around major financial events.

8. What are some of the awards and recognition Gillian Tett has received? She has received numerous awards and recognition for her journalism, including several prestigious awards in the field. A full list would require further research.

9. Where can I find more information about Gillian Tett's work? Her work can be found on the Financial Times website, and her books are widely available.

Related Articles:

1. Top 10 Highest-Earning Financial Journalists: A comparison of income among leading figures in the field.
2. The Impact of the 2008 Financial Crisis on Journalism: Exploring the role of financial journalists during the crisis.
3. Analyzing the Success of Gillian Tett's "Fool's Gold": A deeper look at the book's impact and influence.
4. The Rise of China and its Impact on Global Finance: A broader examination of the economic rise of China.
5. Careers in Financial Journalism: A Guide: A resource for individuals interested in pursuing a similar path.
6. How to Write a Best-Selling Non-Fiction Book: Advice for aspiring authors in the business and finance genres.
7. The Importance of Emerging Market Reporting: The relevance of understanding and reporting on developing economies.
8. Networking and Building Connections in the Finance Industry: Strategies for professional advancement in the finance sector.
9. The Future of Financial Journalism in the Digital Age: How the industry is adapting to changing media landscapes.

gillian tett net worth: Mobile Lives Anthony Elliott, John Urry, 2010-06-10 How should we understand the personal and social impacts of complex mobility systems? Can lifestyles based around intensive travel, transport and tourism be maintained in the 21st century? What possibility post-carbon lifestyles? In this provocative study of life on the move, Anthony Elliott and John Urry explore how complex mobility systems are transforming everyday, ordinary lives. The authors develop their arguments through an analysis of various sectors of mobile lives: networks, new digital technologies, consumerism, the lifestyles of ‘globals’, and intimate relationships at-a-distance. Elliott and Urry introduce a range of new concepts – miniaturized mobilities, affect storage, network capital, meetingness, neighbourhood lives, portable personhood, ambient place, globals – to capture the specific ways in which mobility systems intersect with mobile lives. This book represents a novel approach in post-carbon social theory. It will be essential reading for advanced undergraduate students, postgraduates and teachers in sociology, social theory, politics, geography, international relations, cultural studies, and economics and business studies.
gillian tett net worth: Multinationals and the Constitutionalization of the World Power System Jean-Philippe Robe, Antoine Lyon-Caen, Stéphane Vernac, 2016-06-03 This collection offers a powerful and coherent study of the transformation of the multinational enterprise as both an object and subject of law within and beyond States. The study develops an analysis of the large firm as being a system of organization exercising vast powers through various instruments of private law, such as property rights, contracts and corporations. The volume focuses on the firm as the operational unit of governance within emerging systems of globalization, whilst exploring in-depth the forms within which the firm might be regulated as against the inhibiting parameters of national law. It connects, through the ordering concept of the firm in globalization, the distinct regimes of constitutionalization, national and international law. The study will be of interest to students and academics in globalization and the regulation of multinational corporations, as well as law, economics and politics on a global scale. It will also interest government leaders and NGOs working in the areas of MNE regulations.
gillian tett net worth: Invest for Good Mark Mobius, Carlos von Hardenberg, Greg Konieczny, 2019-06-13 Investors are placing increased emphasis on capital allocation methods to achieve their desired social, environmental and financial objectives, and are targeting investments that not only facilitate economic growth in countries around the world but also do good in terms of aiding human development - from cleaner environments to safer products and better employment practices. At the same time, there is considerable evidence that if companies adhere to ESG (Environment, Social, Governance) standards, they will outperform companies who do not. But how do individuals - rather than institutional investors - invest using ESG criteria? And just how complex are the procedures? This new book, written by investment guru Mark Mobius and his expert team, is full of entertaining and informative anecdotes from the authors' day-to-day experiences in the world of sustainable investment. Readers will gain a clearer understanding of what sustainable investment actually means, the positive effects it can have on businesses and societies, what to look for in order to identify sound and sustainable investment opportunities, and how to balance sustainable investing with good returns.
gillian tett net worth: Wall Street Revalued Andrew Smithers, 2009-10-09 In 2000 one of the world’s foremost economists, Andrew Smithers, showed that the US stock market was widely over-priced at its peak and correctly advised investors to sell. He also argued that central bankers should adjust their policies not only in light of expected inflation but also if stock prices reach excessive levels. At the time, few economists agreed with him, today it is hard to find those who would disagree. In the past central bankers have denied that markets can be valued and that it did not matter if they fell. These two intellectual mistakes are the fundamentals cause of the current financial market crisis. In addition, a lack of understanding by investors as to how to value the market has also resulted in widespread losses. It is clearly of great importance to everyone that neither these losses nor the current financial chaos should be repeated and thus that the principle of asset valuation should be widely understood. In this timely and thought-provoking sequel to the hugely successful Valuing Wall Street Andrew Smithers puts forward a coherent and testable economic theory in order to influence investors, pension consultants and central bankers policy decisions so that thy may prevent history repeating itself. Backed by theory and substantial evidence Andrew shows that assets can be valued, as financial markets are neither perfectly efficient nor absurd casinos.
gillian tett net worth: Money and Banks in the American Political System Kathryn C. Lavelle, 2013-01-14 Lavelle argues that the political sources of instability in finance derive from the intersection of market innovation and regulatory arbitrage.
gillian tett net worth: Buying at the Point of Maximum Pessimism Scott Phillips, Lauren Templeton, 2010-05-05 “Sir John’s ability to comprehend complex concepts and distill these into money-making ideas for his investors was legendary. With this book, Scott Phillips extends Sir John Templeton’s crystal clear vision to some of tomorrow’s most interesting and powerful money-making opportunities. All readers should be prepared to learn–and profit!” –Jeffrey Everett, Founding Partner, Everkey Global Partners “The brilliant global investing strategy of Sir John Templeton finds new life in Scott Phillips’ Buying at the Point of Maximum Pessimism. With the U.S. in trouble, savvy international investing is a must, and this book shows you the best places to put your money for serious profits ahead.” –Christopher Ruddy, CEO, Newsmax Media, Inc. “In Buying at the Point of Maximum Pessimism, Scott Phillips delivers a road map to investment success traveled by the very few but guaranteed to lead you to enormous profits. The book offers a delightful, common sense approach to investing that unfortunately is not so common.” –Robert P. Miles, author, The Warren Buffett CEO If you want to mitigate your risks while leveraging your long-term sources for growth, read every page of this book and invest accordingly. In ten or twenty years you will look back and be thankful you did.” –Theodore Roosevelt Malloch, Ph.D., Research Professor, Yale University and CEO, The Roosevelt Group Value Investing for the 2010s! Earn Consistent Long-Term Profits in a Radically New Market Environment Legendary value investor Sir John Templeton knew the secret of earning consistent profits: In times of maximum pessimism, recognize what your long-term opportunities are–and be ready to pounce. This book shows you where today’s long-term opportunities are, so you can earn outsized profits when the “herd” is running away in terror. Lauren Templeton Capital Management’s Scott Phillips identifies six powerful value investing themes for the 2010s: areas of long-term growth that become even more compelling in volatile or bear markets. This is value investing for the 2010s: a set of emerging opportunities you can profit from, while other investors are selling in fear!
gillian tett net worth: Pharmocracy Kaushik Sunder Rajan, 2017-03-02 Continuing his pioneering theoretical explorations into the relationships among biosciences, the market, and political economy, Kaushik Sunder Rajan introduces the concept of pharmocracy to explain the structure and operation of the global hegemony of the multinational pharmaceutical industry. He reveals pharmocracy's logic in two case studies from contemporary India: the controversial introduction of an HPV vaccine in 2010, and the Indian Patent Office's denial of a patent for an anticancer drug in 2006 and ensuing legal battles. In each instance health was appropriated by capital and transformed from an embodied state of well-being into an abstract category made subject to capital's interests. These cases demonstrate the precarious situation in which pharmocracy places democracy, as India's accommodation of global pharmaceutical regulatory frameworks pits the interests of its citizens against those of international capital. Sunder Rajan's insights into this dynamic make clear the high stakes of pharmocracy's intersection with health, politics, and democracy.
gillian tett net worth: Whose Crisis, Whose Future? Susan George, 2013-09-04 Crisis? Whose crisis? Today we are in the midst of a multifaceted crisis which touches the lives of everyone on the planet. Whether it's growing poverty and inequality or shrinking access to food and water, the collapse of global financial markets or the dire effects of climate change, every aspect of this crisis can be traced to a transnational neoliberal elite that has steadily eroded our rights and stripped us of power. And yet our world has never been so wealthy, and we have, right now, all the knowledge, tools and skills we need to build a greener, fairer, richer world. Such a breakthrough is not some far-fetched utopia, but an immediate, concrete possibility. Our future is in our hands.
gillian tett net worth: Investing Strategies for Alternative Global Markets (Collection) Vishaal B. Bhuyan, Scott Phillips, Jeffrey Towson, 2011-08-18 3 breakthrough books deliver innovative global investing strategies for today’s radically new market environment Yesterday’s investment strategies won’t cut it any more! This Collection brings together innovative new approaches from three of this generation’s most successful investors: strategies you simply won’t find elsewhere! In Buying at the Point of Maximum Pessimism: Six Value Investing Trends from China to Oil to Agriculture, Lauren Templeton Capital Management’s D. Scott Phillipsreveals today’s secret for earning consistently outsized profits: In times of maximum pessimism, recognize your long-term opportunities, and pounce! Phillips identifies six powerful value investing themes for the 2010s: emerging areas of long-term growth that become even more compelling in volatile or bear markets. In What Would Ben Graham Do Now?: A New Value Investing Playbook for a Global Age, Jeffrey Towson modernizes value investing for high-growth emerging markets, introducing techniques he mastered working for Prince Alwaleed, the “Arabian Warren Buffet.” Building on Ben Graham’s classic focus on price and quality, he integrates crucial values of political access, reputation, and capabilities that are indispensable for modern global investing. Next, he presents practical investment “playbooks” designed to help you profitably navigate tomorrow’s titanic market collisions. Finally, in The Esoteric Investor: Alternative Investments for Global Macro Investors, Vishaal B. Bhuyanreveals immense new investment opportunities hidden in the coming age wave, pension crisis, and today's massive demographic, economic, and regulatory shifts. Discover how to profit from reverse equity transactions, surprising commodities, and longevity risk markets—the $24 trillion market you've never heard of! From world-renowned leaders in alternative global investment, including D. Scott Phillips, Vishaal B. Bhuyan,and Jeffrey Towson
gillian tett net worth: America the Possible James Gustave Speth, 2012-09-25 In this third volume of his award-winning American Crisis series, James Gustave Speth makes his boldest and most ambitious contribution yet. He looks unsparingly at the sea of troubles in which the United States now finds itself, charts a course through the discouragement and despair commonly felt today, and envisions what he calls America the Possible, an attractive and plausible future that we can still realize. The book identifies a dozen features of the American political economy--the country's basic operating system--where transformative change is essential. It spells out the specific changes that are needed to move toward a new political economy--one in which the true priority is to sustain people and planet. Supported by a compelling theory of change that explains how system change can come to America, the book also presents a vision of political, social, and economic life in a renewed America. Speth envisions a future that will be well worth fighting for. In short, this is a book about the American future and the strong possibility that we yet have it in ourselves to use our freedom and our democracy in powerful ways to create something fine, a reborn America, for our children and grandchildren.
gillian tett net worth: Anthro-Vision Gillian Tett, 2021-06-08 While today’s business world is dominated by technology and data analysis, award-winning financial journalist and anthropology PhD Gillian Tett advocates thinking like an anthropologist to better understand consumer behavior, markets, and organizations to address some of society’s most urgent challenges. Amid severe digital disruption, economic upheaval, and political flux, how can we make sense of the world? Leaders today typically look for answers in economic models, Big Data, or artificial intelligence platforms. Gillian Tett points to anthropology—the study of human culture. Anthropologists learn to get inside the minds of other people, helping them not only to understand other cultures but also to appraise their own environment with fresh perspective as an insider-outsider, gaining lateral vision. Today, anthropologists are more likely to study Amazon warehouses than remote Amazon tribes; they have done research into institutions and companies such as General Motors, Nestlé, Intel, and more, shedding light on practical questions such as how internet users really define themselves; why corporate projects fail; why bank traders miscalculate losses; how companies sell products like pet food and pensions; why pandemic policies succeed (or not). Anthropology makes the familiar seem unfamiliar and vice versa, giving us badly needed three-dimensional perspective in a world where many executives are plagued by tunnel vision, especially in fields like finance and technology. “Fascinating and surprising” (Fareed Zararia, CNN), Anthro-Vision offers a revolutionary new way for understanding the behavior of organizations, individuals, and markets in today’s ever-evolving world.
gillian tett net worth: Fool's Gold Gillian Tett, 2009-05-12 From award-winning Financial Times journalist Gillian Tett, who enraged Wall Street leaders with her news-breaking warnings of a crisis more than a year ahead of the curve, Fool’s Gold tells the astonishing unknown story at the heart of the 2008 meltdown. Drawing on exclusive access to J.P. Morgan CEO Jamie Dimon and a tightly bonded team of bankers known on Wall Street as the “Morgan Mafia,” as well as in-depth interviews with dozens of other key players, including Treasury Secretary Timothy Geithner, Gillian Tett brings to life in gripping detail how the Morgan team’s bold ideas for a whole new kind of financial alchemy helped to ignite a revolution in banking, and how that revolution escalated wildly out of control. The story begins with the intense Morgan brainstorming session in 1994 beside a pool in Boca Raton, where the team cooked up a dazzling new idea for the exotic financial product known as credit derivatives. That idea would rip around the banking world, catapult Morgan to the top of the turbocharged derivatives trade, and fuel an extraordinary banking boom that seemed to have unleashed banks from ages-old constraints of risk. But when the Morgan team’s derivatives dream collided with the housing boom—and was perverted through hubris, delusion, and sheer greed by titans of banking that included Citigroup, UBS, Deutsche Bank, and Merrill Lynch—catastrophe followed. Tett’s access to Dimon and the J.P. Morgan leaders who so skillfully steered their bank away from the wild excesses of others sheds invaluable light not only on the untold story of how they engineered their bank’s escape from carnage, but also on how possible it was for the larger banking world, regulators, and rating agencies to have spotted, and heeded, the terrible risks of a meltdown. A tale of blistering brilliance and willfully blind ambition, Fool’s Gold is both a rare journey deep inside the arcane and wildly competitive world of high finance and a vital contribution to understanding how the worst economic crisis since the Great Depression was perpetrated.
gillian tett net worth: Releasing the Commons Ash Amin, Philip Howell, 2016-04-28 This book moves beyond seeing the commons in the past tense, an entity passed over from the public into the private, to reimagine the commons as a process, a contest of force, a reconstitution, and a site of convening practices. It highlights new spaces of gathering opening up, such as the digital commons, and new practices of being in common, such as community economies and solidarity networks. The commons is seen as a contested domain of the collective and as a changing way of being in common, with the balance poised in the tensile play between political economy and social innovation. The book focuses on the possibility of recovering a future in which more can be held by the many, focusing on three concepts: nation and nature as a commons, publics and rights, and bodies, concerning the management of lives and livelihoods. Across these three passage points, the book finds evidence of a commons under attack but also defended in fragile though promising ways. With contributions from leading scholars, this thought provoking book will be of great interest to students and scholars in geography, environmental studies, politics, anthropology, and cultural studies.
gillian tett net worth: The Number That Killed Us Pablo Triana, 2011-11-01 A critical look at the risk measurement tool that has repeatedly hurt the financial world The Number That Killed Us finally tells the greatest story never told: how a mysterious financial risk measurement model has ruled the world for the past two decades and how it has repeatedly, and severely, caused market, economic, and social turmoil. This model was the key factor behind the unleashing of the cataclysmic credit crisis that erupted in 2007 and which the effects are still being felt around the world. The Number That Killed Us is the first and only book to thoroughly explain this hitherto-uncovered phenomenon, making it the key reference for truly understanding why the malaise took place. The very number financial institutions and regulators use to measure risk (Vale at Risk/VaR) has masked it, allowing firms to leverage up their speculative bets to unimaginable levels. VaR sanctioned and allowed the monstrously geared toxic punts that sank Wall Street, and the world, during the latest crisis. We can confidently say that VaR was the culprit. In The Number That Killed Us, derivatives expert Pablo Triana takes you through the development of VaR and shows how its inevitable structural flaws allowed banks to take on even greater risks. The precise role of VaR in igniting the latest crisis is thoroughly covered, including in-depth analysis of how and why regulators, by falling in love with the tool, condemned us to chaos. Uncritically embraced worldwide for way too long, VaR is, in the face of such destruction, just starting to be examined as problematic, and in this book Triana (long an open critic of the tool's role in encouraging mayhem) uncovers exactly why it makes our financial world a more dangerous place. If we care for our safety, we should let VaR go. Contains controversial analysis of the hotly debated risk metric Value at Risk (VaR) and its central role in the credit crisis Denounces the role of regulators and academics in forcing the presence of the inevitably malfunctioning in financeland Describes how bonus-hungry traders can use VaR as an alibi to take on the most reckless of bets Reveals how the most recent financial crisis will simply repeat itself if the problems behind VaR are not unmasked Pablo Triana is also the author of Lecturing Birds on Flying The very risk measurement tool that was intended to contain risk allowed financial firms to blindly take on more. The model that was supposed to save us condemned us to misery. The Number That Killed Us reveals how this has happened and what needs to be done to correct the situation.
gillian tett net worth: Professional Investor , 2008
gillian tett net worth: Counterrevolution Melinda Cooper, 2024-03-12 A thorough investigation of the current combination of austerity and extravagance that characterizes government spending and central bank monetary policy At the close of the 1970s, government treasuries and central banks took a vow of perpetual self-restraint. To this day, fiscal authorities fret over soaring public debt burdens, while central bankers wring their hands at the slightest sign of rising wages. As the brief reprieve of coronavirus spending made clear, no departure from government austerity will be tolerated without a corresponding act of penance. Yet we misunderstand the scope of neoliberal public finance if we assume austerity to be its sole setting. Beyond the zero-sum game of direct claims on state budgets lies a realm of indirect government spending that escapes the naked eye. Capital gains are multiply subsidized by a tax system that reserves its greatest rewards for financial asset holders. And for all its airs of haughty asceticism, the Federal Reserve has become adept at facilitating the inflation of asset values while ruthlessly suppressing wages. Neoliberalism is as extravagant as it is austere, and this paradox needs to be grasped if we are to challenge its core modus operandi. Melinda Cooper examines the major schools of thought that have shaped neoliberal common sense around public finance. Focusing, in particular, on Virginia school public choice theory and supply-side economics, she shows how these currents produced distinct but ultimately complementary responses to the capitalist crisis of the 1970s. With its intellectual roots in the conservative Southern Democratic tradition, Virginia school public choice theory espoused an austere doctrine of budget balance. The supply-side movement, by contrast, advocated tax cuts without spending restraint and debt issuance without guilt, in an apparent repudiation of austerity. Yet, for all their differences, the two schools converged around the need to rein in the redistributive uses of public spending. Together, they drove a counterrevolution in public finance that deepened the divide between rich and poor and revived the fortunes of dynastic wealth. Far-reaching as the neoliberal counterrevolution has been, Cooper still identifies a counterfactual history of unrealized possibilities in the capitalist crisis of the 1970s. She concludes by inviting us to rethink the concept of revolution and raises the question: Is another politics of extravagance possible?
gillian tett net worth: The Silo Effect Gillian Tett, 2016-09-27 An award-winning columnist and journalist describes how businesses that structure their teams into functional departments, or silos, actually hinder work, cripple innovation, restrict thinking and force normally smart people to ignore risks and opportunities. --
gillian tett net worth: LexisNexis Corporate Affiliations , 2008
gillian tett net worth: Saving The Sun Gillian Tett, 2011-12-31 For more than a decade, Japan's dismal economy - which has bounced from deflationary collapse to fitful recovery and back to collapse - has been the biggest obstacle to economic growth. Why has the world's second largest economy been unable to save itself? Why has a country, whose financial might in the 1980s was the most feared force on the globe, become the sick man of the world economy? Saving the Sun answers these questions and more in the riveting and remarkable story of Long Term Credit Bank, one of the world's most respected financial institutions, and its attempts to transform itself into a Western-style bank and reconcile the cultural gulf that still exists between Japan and the international banking community.'Smart and engaging-it's a riveting tale with important insights into Japan's culture and its sclerotic system.' BusinessWeek'Saving the Sun is not simply about the fate of one Japanese bank. It is about the clash of two visions of finance-and how hard it is to reconcile them.' The Wall Street Journal Europe
gillian tett net worth: The Levelling Michael O'Sullivan, 2019-05-28 A brilliant analysis of the transition in world economics, finance, and power as the era of globalization ends and gives way to new power centers and institutions. The world is at a turning point similar to the fall of communism. Then, many focused on the collapse itself, and failed to see that a bigger trend, globalization, was about to take hold. The benefits of globalization--through the freer flow of money, people, ideas, and trade--have been many. But rather than a world that is flat, what has emerged is one of jagged peaks and rough, deep valleys characterized by wealth inequality, indebtedness, political recession, and imbalances across the world's economies. These peaks and valleys are undergoing what Michael O'Sullivan calls the levelling--a major transition in world economics, finance, and power. What's next is a levelling-out of wealth between poor and rich countries, of power between nations and regions, of political accountability from elites to the people, and of institutional power away from central banks and defunct twentieth-century institutions such as the WTO and the IMF. O'Sullivan then moves to ways we can develop new, pragmatic solutions to such critical problems as political discontent, stunted economic growth, the productive functioning of finance, and political-economic structures that serve broader needs. The Levelling comes at a crucial time in the rise and fall of nations. It has special importance for the US as its place in the world undergoes radical change--the ebbing of influence, profound questions over its economic model, societal decay, and the turmoil of public life.
gillian tett net worth: The Sum of Us Heather McGhee, 2022-02-08 NEW YORK TIMES BESTSELLER • LONGLISTED FOR THE NATIONAL BOOK AWARD • One of today’s most insightful and influential thinkers offers a powerful exploration of inequality and the lesson that generations of Americans have failed to learn: Racism has a cost for everyone—not just for people of color. WINNER OF THE PORCHLIGHT BUSINESS BOOK AWARD • ONE OF THE BEST BOOKS OF THE YEAR: Time, The Washington Post, St. Louis Post-Dispatch, Ms. magazine, BookRiot, Library Journal “This is the book I’ve been waiting for.”—Ibram X. Kendi, #1 New York Times bestselling author of How to Be an Antiracist Look for the author’s podcast, The Sum of Us, based on this book! Heather McGhee’s specialty is the American economy—and the mystery of why it so often fails the American public. From the financial crisis of 2008 to rising student debt to collapsing public infrastructure, she found a root problem: racism in our politics and policymaking. But not just in the most obvious indignities for people of color. Racism has costs for white people, too. It is the common denominator of our most vexing public problems, the core dysfunction of our democracy and constitutive of the spiritual and moral crises that grip us all. But how did this happen? And is there a way out? McGhee embarks on a deeply personal journey across the country from Maine to Mississippi to California, tallying what we lose when we buy into the zero-sum paradigm—the idea that progress for some of us must come at the expense of others. Along the way, she meets white people who confide in her about losing their homes, their dreams, and their shot at better jobs to the toxic mix of American racism and greed. This is the story of how public goods in this country—from parks and pools to functioning schools—have become private luxuries; of how unions collapsed, wages stagnated, and inequality increased; and of how this country, unique among the world’s advanced economies, has thwarted universal healthcare. But in unlikely places of worship and work, McGhee finds proof of what she calls the Solidarity Dividend: the benefits we gain when people come together across race to accomplish what we simply can’t do on our own. The Sum of Us is not only a brilliant analysis of how we arrived here but also a heartfelt message, delivered with startling empathy, from a black woman to a multiracial America. It leaves us with a new vision for a future in which we finally realize that life can be more than a zero-sum game. LONGLISTED FOR THE ANDREW CARNEGIE MEDAL
gillian tett net worth: Banks, Exchanges, and Regulators Ranald C. Michie, 2021-01-26 Never have financial markets been subjected to a period of change as rapid and extensive as took place from the 1970s onwards. Ranald C. Michie provides an authoritative account of this upheaval based on a careful reading of the Financial Times over the last four decades.
gillian tett net worth: The Routledge Companion to Banking Regulation and Reform Ismail Ertürk, Daniela Gabor, 2016-10-04 The Routledge Companion to Banking Regulation and Reform provides a prestigious cutting edge international reference work offering students, researchers and policy makers a comprehensive guide to the paradigm shift in banking studies since the historic financial crisis in 2007. The transformation in banking over the last two decades has not been authoritatively and critically analysed by the mainstream academic literature. This unique collection brings together a multi-disciplinary group of leading authorities in the field to analyse and investigate post-crisis regulation and reform. Representing the wide spectrum of non-mainstream economics and finance, topics range widely from financial innovation to misconduct in banking, varieties of Eurozone banking to reforming dysfunctional global banking as well as topical issues such as off-shore financial centres, Libor fixing, corporate governance and the Dodd-Frank Act. Bringing together an authoritative range of international experts and perspectives, this invaluable body of heterodox research work provides a comprehensive compendium for researchers and academics of banking and finance as well as regulators and policy makers concerned with the global impact of financial institutions.
gillian tett net worth: After the Great Complacence Ewald Engelen, Ismail Ertürk, Julie Froud, Sukhdev Johal, Adam Leaver, Mick Moran, Adriana Nilsson, Karel Williams, 2011-09-29 Argues that social scientists, governments and citizens need now to re-engage with the political dimensions of financial markets. - cover.
gillian tett net worth: Mission Economy Mariana Mazzucato, 2021-03-23 Longlisted for the 2021 Porchlight Business Book Awards, Big Ideas & New Perspectives “She offers something both broad and scarce: a compelling new story about how to create a desirable future.”—New York Times An award-winning author and leading international economist delivers a hard-hitting and much needed critique of modern capitalism in which she argues that, to solve the massive crises facing us, we must be innovative—we must use collaborative, mission-oriented thinking while also bringing a stakeholder view of public private partnerships which means not only taking risks together but also sharing the rewards. Capitalism is in crisis. The rich have gotten richer—the 1 percent, those with more than $1 million, own 44 percent of the world's wealth—while climate change is transforming—and in some cases wiping out—life on the planet. We are plagued by crises threatening our lives, and this situation is unsustainable. But how do we fix these problems decades in the making? Mission Economy looks at the grand challenges facing us in a radically new way. Global warming, pollution, dementia, obesity, gun violence, mobility—these environmental, health, and social dilemmas are huge, complex, and have no simple solutions. Mariana Mazzucato argues we need to think bigger and mobilize our resources in a way that is as bold as inspirational as the moon landing—this time to the most ‘wicked’ social problems of our time.. We can only begin to find answers if we fundamentally restructure capitalism to make it inclusive, sustainable, and driven by innovation that tackles concrete problems from the digital divide, to health pandemics, to our polluted cities. That means changing government tools and culture, creating new markers of corporate governance, and ensuring that corporations, society, and the government coalesce to share a common goal. We did it to go to the moon. We can do it again to fix our problems and improve the lives of every one of us. We simply can no longer afford not to.
gillian tett net worth: Regulating Wall Street New York University Stern School of Business, 2010-10-28 Experts from NYU Stern School of Business analyze new financial regulations and what they mean for the economy The NYU Stern School of Business is one of the top business schools in the world thanks to the leading academics, researchers, and provocative thinkers who call it home. In Regulating Wall Street: The New Architecture of Global Finance, an impressive group of the Stern school’s top authorities on finance combine their expertise in capital markets, risk management, banking, and derivatives to assess the strengths and weaknesses of new regulations in response to the recent global financial crisis. Summarizes key issues that regulatory reform should address Evaluates the key components of regulatory reform Provides analysis of how the reforms will affect financial firms and markets, as well as the real economy The U.S. Congress is on track to complete the most significant changes in financial regulation since the 1930s. Regulating Wall Street: The New Architecture of Global Finance discusses the impact these news laws will have on the U.S. and global financial architecture.
gillian tett net worth: Makers and Takers Rana Foroohar, 2017-09-12 Is Wall Street bad for Main Street America? A well-told exploration of why our current economy is leaving too many behind. —The New York Times In looking at the forces that shaped the 2016 presidential election, one thing is clear: much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum. A key reason, says Financial Times columnist Rana Foroohar, is the fact that Wall Street is no longer supporting Main Street businesses that create the jobs for the middle and working class. She draws on in-depth reporting and interviews at the highest rungs of business and government to show how the “financialization of America”—the phenomenon by which finance and its way of thinking have come to dominate every corner of business—is threatening the American Dream. Now updated with new material explaining how our corrupted financial system propelled Donald Trump to power, Makers and Takers explores the confluence of forces that has led American businesses to favor balance-sheet engineering over the actual kind, greed over growth, and short-term profits over putting people to work. From the cozy relationship between Wall Street and Washington, to a tax code designed to benefit wealthy individuals and corporations, to forty years of bad policy decisions, she shows why so many Americans have lost trust in the system, and why it matters urgently to us all. Through colorful stories of both “Takers,” those stifling job creation while lining their own pockets, and “Makers,” businesses serving the real economy, Foroohar shows how we can reverse these trends for a better path forward.
gillian tett net worth: The Occupy Handbook Janet Byrne, 2012-04-17 Analyzing the movement's deep-seated origins in questions that the country has sought too long to ignore, some of the greatest economic minds and most incisive cultural commentators - from Paul Krugman, Robin Wells, Michael Lewis, Robert Reich, Amy Goodman, Barbara Ehrenreich, Gillian Tett, Scott Turow, Bethany McLean, Brandon Adams, and Tyler Cowen to prominent labor leaders and young, cutting-edge economists and financial writers whose work is not yet widely known - capture the Occupy Wall Street phenomenon in all its ragged glory, giving readers an on-the-scene feel for the movement as it unfolds while exploring the heady growth of the protests, considering the lasting changes wrought, and recommending reform. A guide to the occupation, The Occupy Handbook is a talked-about source for understanding why 1% of the people in America take almost a quarter of the nation's income and the long-term effects of a protest movement that even the objects of its attack can find little fault with.
gillian tett net worth: Fool's Gold Gillian Tett, 2010 Award-winning journalist and social anthropologist Gillian Tett takes us inside the shadowy world of complex finance and derivatives and explains how the business of slicing and dicing debt led us to the devastating global credit crunch.
gillian tett net worth: Liquidated Karen Ho, 2009-07-13 Financial collapses—whether of the junk bond market, the Internet bubble, or the highly leveraged housing market—are often explained as the inevitable result of market cycles: What goes up must come down. In Liquidated, Karen Ho punctures the aura of the abstract, all-powerful market to show how financial markets, and particularly booms and busts, are constructed. Through an in-depth investigation into the everyday experiences and ideologies of Wall Street investment bankers, Ho describes how a financially dominant but highly unstable market system is understood, justified, and produced through the restructuring of corporations and the larger economy. Ho, who worked at an investment bank herself, argues that bankers’ approaches to financial markets and corporate America are inseparable from the structures and strategies of their workplaces. Her ethnographic analysis of those workplaces is filled with the voices of stressed first-year associates, overworked and alienated analysts, undergraduates eager to be hired, and seasoned managing directors. Recruited from elite universities as “the best and the brightest,” investment bankers are socialized into a world of high risk and high reward. They are paid handsomely, with the understanding that they may be let go at any time. Their workplace culture and networks of privilege create the perception that job insecurity builds character, and employee liquidity results in smart, efficient business. Based on this culture of liquidity and compensation practices tied to profligate deal-making, Wall Street investment bankers reshape corporate America in their own image. Their mission is the creation of shareholder value, but Ho demonstrates that their practices and assumptions often produce crises instead. By connecting the values and actions of investment bankers to the construction of markets and the restructuring of U.S. corporations, Liquidated reveals the particular culture of Wall Street often obscured by triumphalist readings of capitalist globalization.
gillian tett net worth: Guaranteed to Fail Viral V. Acharya, Matthew Richardson, Stijn van Nieuwerburgh, Lawrence J. White, 2011-03-14 Why America's public-private mortgage giants threaten the world economy—and what to do about it The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage to our economy, and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fueling more and more housing and mortgages all across the economy--and putting all of us at risk. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets.
gillian tett net worth: What's Wrong with "globalization"!? Thomas Covell Fischer, 2009 Globalization -- an economic phenomenon that has dominated the late 20th and early 21st centuries -- is poorly understood. Politicians and the media often portray it in its worst light: outsourcing, offshoring, job loss, intellectual property piracy, diminished U.S. influence. But globalization has positive impacts as well: poverty reduction, U.S. export growth, harmonization of standards and practices, greater peace and security. Unlike many books that lionize or demonize globalization, this one seeks to set the record straight. Globalization is neither an unvarnished virtue nor an unmitigated vice. Rather, it is a subtle process that has both virtues (economic growth) and vices (dislocation). It has already lifted millions of persons out of grinding poverty and reduced the spread of disease. But, it also has spurred the migration of workers and increased competition for resources. Unfortunately, globalization''s vices are all too immediate and evident, whereas its virtues are often muted and long-term. This recent financial crisis is a prime example of global disjunction. The financial services industry is clearly global. Yet its regulation is national or regional. But if the response to this crisis produces better coordination and greater economic stability and growth, all participants are likely to be better off. This book is also comprehensive, not examining one aspect of globalization (for example, jobs or climate change) in isolation, but treating the topic as a whole. Further, it makes suggestions to improve the process. The whole world is in flux. To a degree, change is inevitable. If globalization has its flaws -- and it does -- it has enormous potential as well. How do we preserve the best of these and avoid the worst. This is a book recommended to the thoughtful reader, curious for knowledge and a chance to think deeply about possible the most important, if often misunderstood and sometimes distorted and abused, phenomenon in the world today. -- Don Wallace, Jr., Professor of Law at Georgetown University Law Center and Chairman of the International Law InstituteThis is an important study, presented in a clear, often conversational style. Professor Fischer has succeeded in bringing us up to date on so many aspects of globalization, and his itemization of those aspects is valuable in dispelling over-optimistic expectations while at the same time underlining the need to move ahead. He deals with globalization in a scholarly and clear-minded work which deserves to be widely read and widely consulted. -- Professor Sir David Williams, QC, Fellow of Emmanuel College, Emeritus Vice-Chancellor of the University of Cambridge What''s Wrong with Globalization!? has much to recommend it, and succeeds on several levels. The subject of globalization raises a remarkable number of issues and considerations. They range from social issues such as labor and health standards, to international institutions such as the World Bank, and must be considered in the context of the tension between national and international interests. Globalization is not a simple subject, but this book organizes and addresses the relevant issues in an orderly and well written package. If one is interested in a specific globalization issue such as the environment, a well written summary can be found in the book. If one''s focus is on the global flow of capital and investments, or in broad trends of international trade or in the future of globalization, they are all covered in this book. The approach is not even-handed, but also puts those many issues into a broader, overarching framework that such a complex subject deserves. -- Theodore Collins, Counsel, Perkins Coie, Seattle; former General Counsel of The Boeing Company Thom Fischer''s is one of the few books about globalization that cover the subject in a truly global approach without losing sight of details of the many facets of globalization. This very timely book describes the successes and shortcomings of a work in progress with examples from all four corners of the world, thereby making a strong case for continuing on the road toward globalization and more international cooperation. It should be required reading for those who, in this time of global economic and financial crisis, promote national-state isolationistic policies. -- Juergen R. Ostertag, Partner, Pryor Cashman LLP, New York City This book is a magisterial special pleading in favor of globalization properly understood. It is based on a dazzling array of facts designed to prove the essential interconnectedness of global economic players generated by unprecedented and irreversible growth of the forces of cross-border investment and commercial integration. Fischer''s voice deserves to be heard. -- Dr. Siegfried Wiessner, Professor of Law and Director, Graduate Program in Intercultural Human Rights, St. Thomas University School of Law
gillian tett net worth: Three Days at Camp David Jeffrey E. Garten, 2021-07-06 The former dean of the Yale School of Management and Undersecretary of Commerce in the Clinton administration chronicles the 1971 August meeting at Camp David, where President Nixon unilaterally ended the last vestiges of the gold standard—breaking the link between gold and the dollar—transforming the entire global monetary system. Over the course of three days—from August 13 to 15, 1971—at a secret meeting at Camp David, President Richard Nixon and his brain trust changed the course of history. Before that weekend, all national currencies were valued to the U.S. dollar, which was convertible to gold at a fixed rate. That system, established by the Bretton Woods Agreement at the end of World War II, was the foundation of the international monetary system that helped fuel the greatest expansion of middle-class prosperity the world has ever seen. In making his decision, Nixon shocked world leaders, bankers, investors, traders and everyone involved in global finance. Jeffrey E. Garten argues that many of the roots of America’s dramatic retrenchment in world affairs began with that momentous event that was an admission that America could no longer afford to uphold the global monetary system. It opened the way for massive market instability and speculation that has plagued the world economy ever since, but at the same time it made possible the gigantic expansion of trade and investment across borders which created our modern era of once unimaginable progress. Based on extensive historical research and interviews with several participants at Camp David, and informed by Garten’s own insights from positions in four presidential administrations and on Wall Street, Three Days at Camp David chronicles this critical turning point, analyzes its impact on the American economy and world markets, and explores its ramifications now and for the future.
gillian tett net worth: Value(s) Mark Carney, 2021-05-25 A bold, urgent argument on the misplacement of value in financial markets and how we can and need to maximize value for the many, not few. As an economist and former banker, Mark Carney has spent his life in various financial roles, in both the public and private sector. VALUE(S) is a meditation on his experiences that examines the short-comings and challenges of the market in the past decade which he argues has led to rampant, public distrust and the need for radical change. Focusing on four major crises-the Global Financial Crisis, the Global Health Crisis, Climate Change and the 4th Industrial Revolution-- Carney proposes responses to each. His solutions are tangible action plans for leaders, companies and countries to transform the value of the market back into the value of humanity.
gillian tett net worth: The Growth Delusion David Pilling, 2018-01-25 SHORTLISTED FOR THE ORWELL PRIZE FOR POLITICAL WRITING 2019 'A near miracle' Ha-Joon Chang, author of 23 Things They Don't Tell You About Capitalism According to the economy, we have never been wealthier or happier. So why doesn't it feel that way? The Growth Delusion explores how we prioritise growth maximisation without stopping to think about the costs. So much of what is important to our well-being, from safe streets to sound minds, lies outside the purview of statistics. In a book that is both thought-provoking and entertaining, David Pilling argues that our steadfast loyalty to growth is informing misguided policies, and proposes different criteria for measuring our success.
gillian tett net worth: America in Retreat Michael Pembroke, 2021-01-28 The story of how America turned its back on the world... In the heady days after 1945, the authority of the United States was unrivalled and, with the founding of the UN, a new era of international co-operation seemed to have begun. But seventy-five years later, its influence has already diminished. The world has now entered a post-American era, argues Michael Pembroke, defined by a flourishing Asia and the ascendancy of China, as much as by the decline of the United States. This book is a short history of that decline; how high standards and treasured principles were ignored; how idealism was replaced by hubris and moral compromise; and how adherence to the rule of law became selective. It is also a look into the future – a future dominated by greater Asia and China in particular. We are in the midst of the third great power shift in modern history – from Europe to America to Asia. Covering wars in Korea, Vietnam, Iraq and Afghanistan, interventions in Iran, Guatemala and Chile, and a retreat from international engagement with the UN, WHO and, increasingly, trade agreements, Pembroke sketches the history of America’s retreat from universal principles to provide a clear-eyed analysis of the dangers of American exceptionalism.
gillian tett net worth: The Future of Money Mary Mellor, 2010-05-15 As the recent financial crisis has revealed, the state is central to the stability of the money system, while the chaotic privately-owned banks reap the benefits without shouldering the risks. This book argues that money is a public resource that has been hijacked by capitalism. Mary Mellor explores the history of money and modern banking, showing how finance capital has captured bank-created money to enhance speculative leveraged profits as well as destroying collective approaches to economic life. Meanwhile, most individuals, and the public economy, have been mired in debt. To correct this obvious injustice, Mellor proposes a public and democratic future for money. Ways are put forward for structuring the money and banking system to provision societies on an equitable, ecologically sustainable sufficiency basis. This fascinating study of money should be read by all economics students looking for an original analysis of the economy during the current crisis.
gillian tett net worth: The Making of Global Capitalism Leo Panitch, Sam Gindin, 2012-10-09 No Marketing Blurb
gillian tett net worth: I.O.U. John Lanchester, 2010-01-05 For most people, the reasons for the sudden collapse of our economy still remain obscure. I.O.U. is the story of how we came to experience such a complete financial disaster, starting with the magical proliferation of credit that led to an explosion of lending on the global and local landscapes of banking and finance. Viewing the crisis through the lens of politics, culture, and contemporary history—from the invention and widespread misuse of financial instruments to the culpability of subprime mortgages—Lanchester deftly draws conclusions on the limitations of financial and governmental regulation, capitalism’s deepest flaw, and most important, on the plain and simple facts of human nature where cash is concerned. With newly updated, superbly written reportage, Lanchester delivers a shrewd perspective and a digestible, comprehensive analysis that connects the dots for expert and casual reader alike. Part economic primer, part fiscal and historical analysis, I.O.U. is an eye-opener of a book.
gillian tett net worth: The Privileges Jonathan Dee, 2010-10-05 Smart and socially gifted, Adam and Cynthia Morey are perfect for each other. With Adam’s rising career in the world of private equity, a beautiful home in Manhattan, gorgeous children, and plenty of money, they are, by any reasonable standard, successful. But for the Moreys, their future of boundless privilege is not arriving fast enough. As Cynthia begins to drift, Adam is confronted with a choice that will test how much he is willing to risk to ensure his family’s happiness and to recapture the sense that the only acceptable life is one of infinite possibility. The Privileges is an odyssey of a couple touched by fortune, changed by time, and guided above all else by their epic love for each other. BONUS: This edition contains a The Privileges discussion guide.