What is Samuel W. Bodman's Net Worth?
Samuel W. Bodman, an esteemed American politician, boasts a net worth of $70 million. Born as Samuel Wright Bodman III on November 26, 1938, in Chicago, Illinois, he is notably recognized for his tenures as the United States Secretary of Energy and as the Deputy Secretary of the U.S. Treasury Department.
Education and Early Career
Bodman earned his Doctor of Science degree in chemical engineering from the prestigious Massachusetts Institute of Technology (MIT). After completing his studies, he continued at MIT for an additional six years as an Associate Professor of Chemical Engineering.
During his academic tenure, Bodman ventured into the financial sector, assuming the role of Technical Director at the American Research and Development Corporation, a venture capital firm. His remarkable trajectory in the finance industry saw him become President and Chief Operating Officer of Fidelity Investments and a Director of the Fidelity Group of Mutual Funds by 1983.
Career Highlights
In 1987, Bodman joined Cabot Corporation, a Fortune 300 company based in Boston with global operations in specialty chemicals and materials. He served as the company's Chairman, Chief Executive Officer, and Director, contributing significantly to its growth and global presence.
Public Service
February 2004 marked the beginning of Bodman’s tenure as Deputy Secretary of the Treasury under the George W. Bush Administration. Earlier, he had served as the Deputy Secretary of Commerce starting in 2001.
Secretary of Energy
On December 10, 2004, Bodman was nominated to replace Spencer Abraham as the United States Secretary of Energy. His nomination saw overwhelming support and he was unanimously confirmed by the United States Senate on January 31, 2005, taking office the subsequent day. Under his leadership, the Department of Energy operated with an extensive budget exceeding $23 billion, alongside a workforce comprising over 100,000 federal and contractor employees.
